Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Alabama licenses first captive
Feb 25 2007 // The Alabama Department of Insurance has licensed its first captive insurance company under legislation enacted in 2006 and signed into law by Gov. Bob Riley. Chantilly Risk Management, which is located in Montgomery, is...
Katrina lawsuits: Are the winds of fortune changing for insurers?
Feb 25 2007 // In the immediate aftermath of Hurricane Katrina when it became apparent that property losses would total billions of dollars, the insurance industry was understandably concerned that courts in Mississippi and Louisiana...
Industry leaders debate federal versus state regulation with Democratic Congress shift
Feb 25 2007 // Could federal regulation of the insurance industry become a reality, now that Democrats control both the House and Senate in Congress? And are consumers and the insurance industry ready for such a scenario? Other financial...
Declarations
Feb 25 2007 // Stellar statistic “This is the most remarkable statistic of all. The combined ratio we estimate to be about 94 for the year. That would be the best result since 1955.” — Dr. Robert Hartwig, president and...
People
Feb 25 2007 // The National Association of Insurance Commissioners named its 2007 committee chairs and vice chairs. The new committee assignments are for one year. International Insurance Relations Committee: Chair Diane Koken,...
Washington’s 2007 Legislative agenda targets license reform
Feb 25 2007 // The commissioner’s office feels the current process for licensing insurance agents and brokers in Washington is an antiquated, paper-dependent system lacking efficiency and interstate consistency rooted in a...
Third-generation industry executive shares insight on regulatory matters
Feb 25 2007 // Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of Mother Goose books. He is the third generation to enter the insurance business...
News Currents
Feb 25 2007 // Agents welcome windstorm debate; insurers warn against subsidies The Independent Insurance Agents and Brokers of America (the Big “I”) says the debate over windstorm coverage is crucial for consumers and...
Ariz. lawmakers move to raise burden of proof on ER suits
Feb 25 2007 // The Arizona Senate has narrowly approved a medical malpractice bill to raise the bar on the legal burden of proof required for malpractice lawsuits involving emergency medical care. The Senate approved the bill 16-12,...
8 Agents welcome windstorm debate
Feb 25 2007 // Insurers warn against subsidies 10 Safeco to cut homeowners, commercial rates 200,000 Calif. customers to benefit, company says 10 Ariz. lawmakers move to raise burden of proof on ER suits Identical bill vetoed by Gov....
Congress gets bipartisan bills to repeal insurance antitrust immunity
Feb 25 2007 // News Currents Sen. Patrick Leahy, D-Vt., chairman of the Judiciary Committee, joined with Senate Democratic and Republican leaders earlier this month to introduce a bipartisan bill that would strip the insurance industry...
Coming To The Rescue
Feb 25 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
U.S. Rep. Backs Maine Effort to Repeal Federal Drivers License Act
Feb 23 2007 // U.S. Rep. Tom Allen joined with a group of Democratic state lawmakers at the Maine State House on Tuesday to amplify his call for the repeal and replacement of the federal homeland security law known as the Real ID...
N.J. High Court Rules Schools Must Protect Kids from Harassment
Feb 23 2007 // New Jersey public schools can be held liable for repeated, prolonged student-on-student sexual harassment, the state Supreme Court ruled this week in a case brought by a boy who contended he was victimized by years of...
Nevada Lawmakers Debate Policy on Drug Tests for Injured Workers
Feb 22 2007 // Injured Nevada workers could face required drug tests to prevail in insurance disputes, under an industry-backed proposal debated by state legislators. The Senate Commerce and Labor Committee recently heard testimony on...
In R.I., Beacon Mutual Gets Long-Awaited Conduct Report from State
Feb 22 2007 // Rhode Island officials have completed their audit of Beacon Mutual Insurance Co. and turned over the results to the workers’ compensation insurer. However it will be at least 30 days before the public learns what is...
Insurers Drop Court Challenge as Fla. Clarifies Cancellation Ban
Feb 21 2007 // Insurance companies dropped a court challenge this week to a new Florida rule preventing them from immediately canceling some homeowners policies or raising rates. The rule, which took effect Jan. 31, is a stopgap until a...
Miss. Gov. Barbour Rejects Hood’s Call to Block State Farm
Feb 20 2007 // Mississippi Attorney General Jim Hood said he will seek legislation aimed at blocking State Farm Insurance Cos. from refusing to write new homeowners and commercial policies in the hurricane-battered state. Hood’s...
Fla. Sees First Rate Cuts Since Cat Fund Expansion
Feb 20 2007 // Florida regulators on Friday gave tentative approval to the first rate cuts by private home insurance companies following the passage last month of a new law giving the companies more access to the state’s backup...
Ind. Bills Would Require Nursing Homes to Install Sprinkler Systems
Feb 20 2007 // Legislation that would require all of Indiana’s nursing homes to install sprinkler systems within five years is gaining traction in the General Assembly. Supporters who have pushed lawmakers to enact stricter nursing...
