Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
New Orleans Judge Dismisses Insurance Price-Fixing Lawsuit
Dec 19 2008 // A federal judge in New Orleans has dismissed an antitrust lawsuit Louisiana’s former attorney general filed against some of the nation’s largest insurance companies after hurricanes Katrina and Rita. The suit,...
SEC Moves to Regulate Some Equity Indexed Annuities
Dec 18 2008 // The U.S. Securities and Exchange Commission voted on Wednesday to begin scrutinizing annuities linked to equity indexes, a complex financial product the agency says falls into a regulatory no-man’s land. The 4-1 vote...
Ace Strengthens Environmental Team as UK to Implement New Legislation
Dec 17 2008 // ACE Europe (ACE) announced that it has “further strengthened its environmental risk team with the appointment of Chris Strong as Environmental Risk Underwriter.” ACE said it made the appointment in anticipation...
Judge Orders Lawyer in Louisiana Citizens Insurance Case Jailed
Dec 17 2008 // A lawyer was led out of a New Orleans court in handcuffs Dec. 15 after an altercation with another attorney on the rival side of a hurricane insurance case. A state judge in New Orleans held attorney J. Robert Ates in...
Ohio Lawmakers Expected to Push Through Asbestos Legislation
Dec 16 2008 // Republican lawmakers in Ohio say they hope a bill requiring more transparency in certain asbestos exposure claims is expected to be approved this week If that happens, the bill would then go to Democratic Gov. Ted...
Arizona Lawmaker to Offer Medical Malpractice Bill
Dec 16 2008 // An Arizona legislator is renewing a controversial proposal to make it harder to successfully sue emergency medical providers for alleged malpractice. Republican Sen. Carolyn Allen of Scottsdale says raising the burden of...
Oklahoma Lawmaker Selling Interest in Nursing Homes
Dec 15 2008 // State Rep. Doug Cox of Grove, Okla., who in the last legislative session blocked passage of measure that would have required nursing homes to carry a minimum of $250,000 in liability insurance, says he’s selling his...
SEC Investigating Florida’s Citizens Over Bid Placements
Dec 15 2008 // The Securities and Exchange Commission is investigating the state-backed Citizens Property Insurance Corp. on bid placements earlier this year on auction rate securities. The SEC issued a subpoena June 24 seeking documents...
Connecticut Taxis Have Unusually High Crash Rates
Dec 12 2008 // A report says Connecticut’s taxi industry has unusually high crash rates, inconsistent inspection standards and unpredictable fares. The legislature’s Program Review & Investigations Committee report...
Judge: Class-Action Against Toy Makers Can Proceed
Dec 11 2008 // A judge has ruled that Mattel, Wal-Mart and others can still be sued for making and selling toys with high lead levels, even though the companies offered safer replacements after a recall. Judge Dale Fischer filed the...
Ohio Federal Judge Says Speeder Cams Constitutional
Dec 11 2008 // A federal judge in Akron has rejected a local attorney’s claim that automatic traffic cameras violate the Constitution. Lawyer Warner Mendenhall filed suit after his wife got a speeding ticket in November 2005 from a...
Swiss Re Sees ‘Severe Recession;’ Insurers Should Preserve Capital
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
NAIC to Examine Proposal to Modify Reinsurance Collateral Requirements
Dec 10 2008 // The National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernizes U.S. state-based regulation of reinsurance. “This proposal sets...
Kansas Insurance Regulator Honored with Dineen National Award
Dec 10 2008 // The National Association of Insurance Commissioners (NAIC) honored a Kansas Insurance Department official with a national award at the NAIC’s winter meeting this month. Larry Bruning, chief actuary at department, was...
Florida Insurance Office Earns Accreditation Renewal
Dec 9 2008 // The Florida Office of Insurance Regulation has been recognized at the National Association of Insurance Commissioners (NAIC) Winter National Meeting for renewal of its Financial Regulation Standards accreditation. The...
Illinois, North Dakota Join Regulator Sponsored State Based Systems
Dec 8 2008 // The National Association of Insurance Commissioners (NAIC) recently announced that two state departments — the Illinois Division of Insurance within the Department of Financial and Professional Regulation and the...
Ohio Lawmakers Continue Workers’ Comp Rating System Dispute
Dec 5 2008 // GOP lawmakers say want to preserve a system used by the state to set job-injury insurance rates. A Cuyahoga County judge earlier this month ordered the Ohio Bureau of Workers’ Compensation to create by July a new and...
Maryland Insurance Department Hosts Regulatory Interns from China
Dec 5 2008 // The Maryland Insurance Administration is hosting of two international interns from China through the National Association of Insurance Commissioner (NAIC)’s International Internship Program. From the China Insurance...
Marsh Warns EU Companies of E&O Risks from Chemical Regulations
Dec 5 2008 // Marsh’s London office has issued a warning that companies that use chemical substances in the European Union (EU) could risk insurance implications “associated with their failure to adhere to the EU’s...
