Latest Legislation Headlines

Organizations Opposed to U.S. Insurance Tax Bill Issue Statement

Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...

CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations

Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...

Wyoming Lawmakers Discuss Changing Workers’ Comp System

Sep 22 2008 // Wyoming lawmakers are discussing several possible changes to the state’s workers’ compensation program amid complaints about the system. One proposal is to hire an ombudsman to help workers get any assistance...

California Commissioner Proposes Pay-As-You-Drive Regulations

Sep 22 2008 // California Insurance Commissioner Steve Poizner has proposed regulations that would make a green auto insurance option available for California consumers. If implemented, pay-as-you-drive auto insurance would allow...

Study Finds Economic Costs of Federal Cat Legislation Significant

Sep 22 2008 // Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar...

Sep 22 2008 // Austin, Texas-based insurance education provider, The National Alliance for Insurance Education & Research, selected Kathleen G. Speer as director of national business for the not-for-profit organization. Prior to...

Supreme Court on Small Business

Sep 22 2008 // There is no question that U.S. Supreme Court’s decisions impact small business. More than 40 percent of the court’s cases directly affect the business community, including employment, civil rights, insurance,...

California Workers’ Comp Division Strengthens Judges’ Ethics Rules

Sep 22 2008 // California’s Division of Workers’ Compensation has adopted revised ethics regulations governing workers’ compensation judges. According to the DWC, the rules and regulations “are designed to enforce...

Former SEC Head Donaldson Calls for Regulatory Overhaul

Sep 19 2008 // Former U.S. Securities and Exchange Commission Chairman William Donaldson said the United States needs a regulatory overhaul, similar to changes made to the system after the Great Depression. “It’s clear there...

Ark., La. Commissioners Reassure Policyholders After AIG Bailout

Sep 18 2008 // Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance...

Key Lawmaker Wants AIG Internal Documents on CEO, Board, Pay

Sep 18 2008 // Rep. Henry Waxman, chairman of the U.S. House Committee on Oversight and Government Reform, has asked the new chief executive officer at American International Group Inc. to give his committee internal documents related to...

State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG

Sep 18 2008 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy Praeger today issued the following statement regarding American International Group (AIG): In times of crisis, the...

AIG Crisis Restarts Debate Over State vs. Federal Insurance Regulation

Sep 17 2008 // The crisis surrounding giant insurer American International Group has reignited the debate within insurance circles over whether state or federal regulation is preferable. The parent AIG got into trouble with credit...

Florida Cabinet Approves Insurance Regulator’s New Reinsurance Rule

Sep 16 2008 // Financially sound unaccredited reinsurance companies can now conduct business in Florida without having to post 100 percent collateral. The Florida Office of Insurance Regulation announced that the Florida Cabinet, in its...

Update: AIG Cash Crisis Mounts; Greenberg Explores Buyout; Conservatorship Reportedly Eyed

Sep 16 2008 // American International Group Inc. shares sank 48 percent on a report that regulators might take control of the giant insurer, though a U.S. government source said federal agencies do not have legal authority to put AIG...

California Legislative Session Positive on Insurance Issues

Sep 15 2008 // This year’s California legislative session has been a relatively positive one for property/casualty insurers and their customers, according to the Association of California Insurance Companies. Legislators generally...

Assurant Offers ID Theft Protection for Financial Institutions

Sep 15 2008 // Assurant Specialty Property and National ID Recovery (NIDR) have launched a Red Flag ID fraud detection, notification and protection program for financial institutions and credit unions. Red Flag ID Fraud Solutions is a...

Tennessee Court Rules against Alcoa in Asbestos Suit

Sep 12 2008 // Alcoa Inc. can be sued for the asbestos-related death of a former worker’s daughter, the Tennessee Supreme Court ruled. The Pittsburgh-based company had argued that it should not be held responsible for Maryville...

Drug Maker Not Liable in Death Caused by User, Maryland Court Rules

Sep 11 2008 // The Maryland Court of Appeals has ruled that drug manufacturer Eli Lilly was not liable for a fatal accident caused by a user of one of its diabetes drugs who blacked out while driving and crashed into another...

Insurance Trade Group Honors U.S. Sen. Collins of Maine

Sep 11 2008 // The National Association of Mutual Insurance Companies (NAMIC) named Sen. Susan M. Collins, R-Maine, as its Federal Legislator of the Year. “Senator Collins has a great understanding and appreciation of the...