Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Canadian Banks Eye Expansion into Insurance, Despite Restrictions
Sep 25 2009 // Insurance may emerge as the next big growth area in Canadian banking, even though regulations prohibit lenders from selling via their branches and insurance brokers vehemently oppose the move. When Canada’s biggest...
Colorado’s Pinnacol Weighed Purchase of Other Insurers
Sep 25 2009 // Documents show a state-chartered workers compensation insurer in Colorado once planned to seek permission to buy other insurance companies but later backed off. The Denver Post reported Wednesday that Pinnacol Assurance...
States Back Changes in Regulation of Reinsurance
Sep 25 2009 // State insurance regulators are throwing their weight behind a federal measure that would change the way reinsurance is regulated. The National Association of Insurance Commissioners (NAIC) is supporting the Reinsurance...
U.S. Safety Agency Eyes Cell Phone Use Ban for Bus, Truck Drivers
Sep 25 2009 // Safety investigators told federal regulators three years ago that it was dangerous for bus drivers to talk on cell phones while driving and recommended a ban. The National Transportation Safety Board put that...
Bermuda Monetary Authority Concludes Pact with Florida Insurance Regulator
Sep 25 2009 // The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements...
Administration Backs Financial Consumer Agency; Bill Exempts P/C
Sep 23 2009 // U.S. Treasury Secretary Timothy Geithner argued forcefully Wednesday for creating a government watchdog for financial consumers, while giving cautious support to paring back its scope. Amid stiff resistance by banks and...
Insurance Execs Not Confident of Underwriting Profit Over Next 3 Years
Sep 23 2009 // Insurance executives see their companies performing above general market expectations in 2010, but their outlook on the industry’s ability to generate underwriting profit in the next one to three years remains...
Insurers Honor 2 North Carolina Lawmakers for Beach Plan Bill
Sep 23 2009 // Two North Carolina state legislators have been named “State Legislators of the Year” by the National Association of Mutual Insurance Companies (NAMIC) for their efforts to pass legislation reforming the...
New York Earns Accreditation by Insurance Commissioners’ Group
Sep 23 2009 // The New York State Insurance Department has been accredited under the National Association of Insurance Commissioners’ (NAIC) Financial Regulations Standards and Accreditation Program. “State insurance...
‘Main Street’ P/C Insurers Tell Congress They Don’t Need More Regulation
Sep 23 2009 // Home, auto and business insurers did not cause the current financial crisis, do not present systemic risk, and are already regulated effectively, a group of them is telling federal lawmakers looking at expanding financial...
Noted California Insurance Lobbyist Passes Away
Sep 23 2009 // Long-time Sacramento lobbyist for California insurance agents and former Federal Bureau of Investigations investigator, Fred G. Dupuis, died last week in Marin County, where he had lived for 60 years. Dupuis was 93 years...
Judge Sides with Contractor in Indiana Explosion Lawsuit
Sep 22 2009 // A federal judge has ruled that a contractor does not owe damages to Vectren Corp. over a natural gas explosion at an Indiana home that killed two women. Vectren sued Iowa Pipeline Associates, claiming its workers...
Report Warns Against Applying Systemic Risk Regulation to Insurers
Sep 22 2009 // Blame for the financial crisis and the near collapse of American International Group should reflect “the substantial evidence of fundamental failures in U.S. and foreign regulation of commercial banking, thrift...
States Give a ‘Thumbs Up’ to Fingerprinting Insurance Producers
Sep 21 2009 // Regulators Say Fingerprinting Keeps Criminals Out of the Business Don’t be alarmed, but there are convicted criminals roaming around the country acting as insurance producers. They could be robbers, forgers, possibly...
Virginia Agents Present Award to Lawmaker
Sep 21 2009 // The Independent Insurance Agents of Virginia (IIAV) has given its Commonwealth Award to Republican lawmaker Frank D. Hargrove Sr. The award recognizes outstanding service for the insurance industry, independent insurance...
New York Issues New Draft of Disclosure Rules for Agents
Sep 21 2009 // The New York State Insurance Department released proposed new rules mandating how and what insurance agents must reveal to clients about how they are compensated in the sale of policy. The so-called transparency rules...
What to Know About Red Flags, Notification Laws and the Hi Tech Act
Sep 21 2009 // Data breaches have hit an all time high and with that have been a dramatic increase in new data security and privacy laws and regulations. Both state and federal regulations have been in place for several years with...
North Carolina Coastal Broker Ready to Ride Beach Plan Reform Wave
Sep 21 2009 // Hanover Excess Sees State Pool Changes A Boost For Business Still Recovering From Recession, Soft Market The Web site for Hanover Excess (www.hanoverxs.com) proclaims that the people at this North Carolina excess and...
Colorado’s Pinnacol Defends Actions
Sep 21 2009 // Executives from Colorado’s state-chartered workers’ compensation insurance company defended themselves against accusations of lavish spending and excess profits during a legislative hearing and they told...
California Lawmaker Wants More Green Insurance Products
Sep 21 2009 // Bill Would Require Green Products, Offer Tax Credits Even As Industry Steps Up Its Own Development A bill recently introduced in California could encourage more ecologically friendly insurance policy products, putting the...
