Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
S&P Says Saudi Insurance Market Able to Meet Regulatory Challenges
Nov 27 2007 // Standard & Poor’s Ratings Services has said that it considers the Saudi insurance market to possess the “inherent strengths,” which will allow it to “ride out” forthcoming regulatory...
Iowa Groups Ask Lawmakers to Consider Bicycle Liability Laws
Nov 26 2007 // Several groups are looking into the possibility of a bill that would protect counties from liability lawsuits related to annual bicycling events in the state. State and county officials met with bicycle clubs and event...
Hawaii County Looks to Stem Flood Hazards
Nov 26 2007 // Hawaii County has met a deadline to save Big Island residents’ federal flood insurance coverage, but at least one County Council member is not satisfied. The council voted unanimously this week to approve a bill that...
NCOIL Names New Officers
Nov 26 2007 // The National Conference of Insurance Legislators (NCOIL), elected the following officers for 2008: Sen. James Seward (NY) as President-Elect; Rep. Robert Damron (KY) as Vice President; Rep. George Keiser (ND) as Secretary;...
Legislators Adopt Model Law to Strengthen State Guaranty Funds
Nov 21 2007 // A new model law adopted by the National Conference of Insurance Legislators (NCOIL) will create a stronger safety net for property/casualty guaranty funds nationwide. According to legislators, the Post-Assessment Property...
Insurance Compact Adopts ’08 Budget
Nov 20 2007 // The Interstate Insurance Product Regulation Commission adopted a $1.4 million 2008 budget by a vote of its full membership in a public teleconference yesterday. Following a comprehensive comment period, including a public...
Audit: Wis. Never Implemented Health Care Program for Businesses
Nov 20 2007 // A program created by Wisconsin lawmakers in 1999 to reduce health care costs for small businesses was never implemented after running up nearly $500,000 in spending, according to an audit released last week. The Private...
IIF Insurance Committee To Be Chaired by Execs from AIG, ING, Zurich
Nov 20 2007 // The Institute of International Finance based in Washington, D.C., is establishing a Committee on International Insurance Regulatory Issues headed by industry leaders to support the development of global industry...
Florida Regulators Deny Allstate Rate Increases
Nov 19 2007 // The Florida Office of Insurance Regulation issued Notices of Intent to disapprove five rate filings submitted by Allstate Floridian Insurance Co., Allstate Floridian Indemnity Co., Encompass Floridian Insurance Co., and...
Brown Named Chief of Staff of Fla. Insurance Commission
Nov 19 2007 // Florida Insurance Commissioner Kevin McCarty promoted Audrey Brown to the position of chief of staff with the Office of Insurance Regulation effective Nov. 19. Brown has served as the deputy chief of staff since June,...
16 Alabama Federal Judges Step Aside from Scruggs Contempt Case
Nov 19 2007 // Every eligible federal judge in north Alabama has stepped aside from presiding in the criminal contempt case of Mississippi trial lawyer Richard Scruggs, who is accused of disobeying an order by failing to turn over...
Insurance Isn’t Dull, Says Kiln’s Creasy
Nov 19 2007 // Kiln’s Chief Executive Edward Creasy in his speech to the Insurance Institute of London (IIL) this week, sent a strong, and much needed message. As reported on the Lloyd’s web site (www.lloyds.com) , he said...
Judge OKs Dana Corp.’s $2M Settlement with Asbestos Victims
Nov 19 2007 // Dana Corp. has won court approval to pay $2 million to settle personal-injury claims from 7,500 people who say they were sickened by Dana products that contained asbestos. Judge Burton Lifland of the U.S. Bankruptcy Court...
N.Y Vows Principles-Based Regulation
Nov 18 2007 // New York Insurance Superintendent Eric Dinallo has released a draft regulation that he says would make the New York Insurance Department the first in the nation to establish principles-based regulation. The draft includes...
Good Things Going on in West Virginia
Nov 18 2007 // When talk turns to insurance in West Virginia, inevitably workers’ compensation comes up. No one knows that better than Insurance Commissioner Jane Cline. In a recent interview with Insurance Journal‘s Andrew...
Recovery Steps
Nov 18 2007 // Washington has taken rare steps toward building a federal disaster plan. Not everyone agrees this is a good development but property owners in the Southeast should be watching closely as they could be among the most...
Disaster Recovery
Nov 18 2007 // Disaster recovery still is very much on the minds of property owners and insurers in the South Central region despite relatively mild back-to-back catastrophe years. Louisiana has a long way to go before the state can say...
Insurers Facing More Frequent, More Expensive Lawsuits
Nov 18 2007 // The legal landscape may generally be changing for the better — but not necessarily for insurers, according to a recent survey by Fulbright & Jaworski. In its survey based on interviews with in-house counsel at 250...
Defeat for Insurance Industry; Wash. Voters Approve Referendum 67
Nov 18 2007 // Much to many insurance companies’ dismay, Washington voters approved Referendum 67, with 520,667 or 57 percent of voters in favor of the initiative to allow insureds to collect triple damages if their insurer...
Keep the McCarran-Ferguson Act Insurance Exemption
Nov 18 2007 // Federal antitrust laws are intended to ensure a competitive market by prohibiting companies from acting in concert with each other, such as through price-fixing or sharing arrangements that exclude other competitors. The...
