Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
California Workers’ Compensation Division Names Temporary Deputy Administrative Director
Mar 26 2009 // While California’s Division of Workers’ Compensation (DWC) Chief Deputy Administrative Director Carrie Nevans takes temporary personal leave, the Department of Industrial Relations (DIR) Director John Duncan...
Georgia Lawmakers Defeat Pickup Truck Seat Belt Law
Mar 26 2009 // A bid to require adults in pickup trucks to buckle their seat belts was narrowly defeated by a Georgia House panel, defying supporters of stronger safety standards that have been adopted by much of the nation. The House...
Tenn. Lawmaker Drops Immunity Claim in Libel Suit
Mar 26 2009 // A Republican lawmaker in Tennessee has dropped claims of legislative immunity for comments he made on his personal blog that sparked a $750,000 libel lawsuit. State Rep. Stacey Campfield of Knoxville was sued by Roger...
Democrats’ Bills Would Create U.S. Financial Product Safety Commission
Mar 26 2009 // Democrats in the U.S. House of Representatives Wednesday introduced legislation that would create a financial products watchdog to crack down on unsafe lending practices. Bill Delahunt of Massachusetts and Brad Miller of...
Montana Legislature Passes Industry-Backed Captive Insurance Law
Mar 26 2009 // The Montana Legislature has passed abill designed to strengthen the state’s position as a captive domicile. The bill, HB 160, is expected to be signed into law by Governor Brian Schweitzer before the end of the...
Connecticut Lawmakers Delay Vote on AIG Bill
Mar 26 2009 // The Connecticut House of Representatives is not ready to vote on a bill that would stop companies that received federal assistance, such as American International Group Inc., from awarding bonuses under a state...
AIG, Credit Default Swaps and the Lack of Regulation
Mar 25 2009 // Credit default swaps (CDS’s) total $58 trillion in notional value (face value) worldwide and are regulated by…no one; this according to September 23, 2008, testimony given before congress by Christopher Cox, US...
Sen. Nelson Seeks U.S.Help on Florida Hurricane Losses
Mar 25 2009 // U.S. Sen. Bill Nelson has asked the U.S. Treasury to provide assurances to private market lenders that any loans they make in Florida would be repaid at fair market interest in the event of a catastrophe. Nelson, however,...
Obama Team Seeks Powers to Wind Down Non-Banks Like AIG
Mar 25 2009 // The Obama administration Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts. U.S. Treasury Secretary Timothy Geithner,...
Judge Blocks Some North Carolina Beach Plan Price Hikes, Orders Redo
Mar 25 2009 // A Wake County judge has ordered new North Carolina Insurance Commissioner Wayne Goodwin to reconsider deductible and surcharge increases for coastal homeowners in the state insurance pool called the Beach Plan. Wake County...
Oklahoma House Calls for More Stringent Youth ATV Regulations
Mar 25 2009 // A resolution urging the federal government to amend regulations banning the sale of youth all-terrain vehicles and motorcycles has been passed by the Oklahoma House of Representatives. House Resolution 1024, by state Reps....
Insurers Oppose Minnesota Consumer Credit Ban Bill
Mar 24 2009 // While insurance consumer advocates step up their criticism of insurers’ use of credit scores, the American Insurance Association (AIA) and Property Casualty Insurers Association of America testified before a...
Insurance Exclusion Applies to Liquidator, Nebraska Court Rules
Mar 24 2009 // A regulatory exclusion in a directors and officers liability insurance policy applies to an insurance regulator acting as liquidator, according to the Nebraska Supreme Court. The ruling is believed to be the first by any...
Senate Push Over AIG Bonuses Appears to Lose Steam
Mar 24 2009 // U.S. Senate Majority Leader Harry Reid vowed Monday to push to recoup millions of dollars in executive bonuses at taxpayer-funded insurer American International Group, but the legislation appeared to be losing momentum in...
Lobbyist, Former Democratic Lawmaker Squires to Run for Georgia Insurance Post
Mar 23 2009 // Mary Squires, a former Democratic state lawmaker who now lobbies for the self-insurance industry, is running to be Georgia’s next insurance commissioner. Squires is the first candidate to enter the race to succeed...
Defending Data
Mar 23 2009 // Data Security Breaches Present Emerging Risks and Opportunities for Agents Data security represents both a new market opportunity to sell insurance coverage and a new risk — especially for independent insurance...
Sink-ing Feeling: Florida Still Searching for Fix for Hurricane Exposure
Mar 23 2009 // Florida lawmakers need to make some smart decisions on reducing the risk to Florida property owners from hurricanes, the state’s chief financial officer said. In a letter to legislative leaders, CFO Alex Sink said...
Transparent Conversations
Mar 23 2009 // If one were to poll every insurance agent in New York about the most important topic facing their profession, “compensation” would probably top the list of answers. Between bailouts, Wall Street’s...
As Credit Scores Fall, Criticism of Insurers’ Credit Scoring Rises
Mar 23 2009 // With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their criticism of the use of credit scores by insurance companies. They are also warning insurers...
Lawmakers Aim to Roll Back Texas’ 2003 Insurance Reforms
Mar 23 2009 // Reforms to the Texas insurance regulatory system put in place by Senate Bill 14 in 2003 are under attack by a coalition of state lawmakers who have filed bills to, among other things, return the rate setting process for...
