Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Okla. State Senate Passes Interstate Insurance Compact
Apr 12 2006 // Oklahoma Insurance Commissioner Kim Holland reported that the state senate passed the Interstate Insurance Product Regulation Compact, a measure Holland said was a priority for her, by a vote of 42-0. The measure passed...
Insurers Say Vote No to Arizona Vehicle Repair Legislation
Apr 12 2006 // The Property Casualty Insurers Association of America (PCI) is asking the Arizona Senate to vote no on House Bill 2063, a bill that it says would make it more difficult for insurers to provide consumers important...
Smoking Ban Provides Drama for Ark. Politics
Apr 11 2006 // Education was the main reason that lawmakers returned to Little Rock, Ark., last week, but a statewide smoking ban provided the most drama. Gov. Mike Huckabee’s proposal to ban smoking in most workplaces –...
NAIC President Says International Cooperation Key to Regulation of Global Financial Markets
Apr 11 2006 // Speaking to an international group of officials from the insurance and finance sector, the National Association of Insurance Commissioners’ President Alessandro Iuppa delivered the keynote address at the 22nd Progres...
Fitch Removes AIG and Subsidiaries from Negative Watch
Apr 11 2006 // Fitch Ratings has affirmed and removed from its Rating Watch Negative all of its ratings on American International Group, Inc. (AIG) and subsidiaries. Fitch originally placed AIG on Rating Watch Negative in March 2005. In...
State Lawmakers Balk at Growing Trend of Federal Preemption
Apr 10 2006 // As Senate Banking committee members in Washington begin the debate over creating a new federal regulatory scheme for what is now state-regulated insurance, state lawmakers across the country are voicing their agitation...
Florida Senate’s Insurance Fix Hinges on Changes to Citizens
Apr 10 2006 // Owners of homes worth more than $1 million could continue to get hurricane coverage from state-run Citizens Property Insurance until 2011, but would pay a 25 percent surcharge for their coverage under a measure approved...
Public Regulation Commission Suspends New Mexico’s Superintendent
Apr 10 2006 // State Insurance Superintendent Eric Serna was suspended by the Public Regulation Commission on the recommendation of the attorney general, who is investigating his office. Attorney General Patricia Madrid said an...
S.C. Legislature Passes ‘Watered Down’ Workers’ Comp Bill to Senate
Apr 10 2006 // The American Insurance Association is calling H. 4427, passed by the South Carolina Legislature, a “watered down” version of workers’ compensation reform and “reform in name only;” while the...
Okla. Republican Lawmakers Renew Drive for Lawsuit Reform
Apr 7 2006 // Days after the defeat of their lawsuit reform bill, Oklahoma House and Senate Republican legislative leaders, joined by business and health care leaders, announced a renewed drive for lawsuit reform in Oklahoma in...
Bill Will Require a Study Before Changes to Calif. Auto Rating Factors Can Go Into Effect
Apr 7 2006 // A bipartisan group of five assemblymembers joined with local elected officials and concerned citizens at a news conference in Sacramento to support AB 2840, which they say will help ensure fair auto rates for all drivers....
Hawaii Lawmakers Propose Tax Credits for Recent Rain Victims
Apr 6 2006 // A proposed tax credit aimed at helping Oahu flood victims was expanded by Senate lawmakers Tuesday to cover families and businesses throughout the islands who suffered damages during the recent heavy rains. The credit...
OSHA, State Oversight Questioned Following Boston Scaffolding Accident
Apr 6 2006 // Court rulings have left state inspectors powerless to enforce safety standards at construction sites like the one where three people died this week in a scaffolding accident, forcing Massachusetts to rely on a voluntary...
Ky. Becomes the 22nd State to Sign Interstate Compact
Apr 6 2006 // Kentucky became the 22nd state to join the Interstate Insurance Product Regulation Compact when Governor Ernie Fletcher signed House Bill 112 into law in Frankfort this week. The compact streamlines the regulatory process,...
Consumer Groups Allege Insurance Wind Models More Politics Than Science
Apr 6 2006 // Risk Management Solutions has defended its hurricane risk models in the face of consumer groups’ criticisms that the models are more political than they are scientific and that they are designed to justify insurance...
Surplus Lines Needs Not Met Under Optional Federal Charter Legislation
Apr 6 2006 // The Optional Federal Charter legislation, introduced in the U.S. Senate on Wednesday, does not address the premium tax remittance and licensing concerns of the surplus lines industry, according to the National Association...
Malaysia Embarks on 5-Year Plan to Liberalize Insurance Market
Apr 5 2006 // Malaysia to liberalize banking, insurance under five-year plan Received by Newsfinder from AP Mar 31, 2006 5:40 Eastern Time Malaysia will open its banking and insurance sectors to greater competition, including allowing...
U.S. Sens. Sununu, Johnson to Unveil Optional Federal Charter Plan Today
Apr 5 2006 // United States Senators John Sununu (R-N.H.) and Tim Johnson (D-S.D.) are scheduled to outline their proposal to allow life and property/casualty insurers to choose federal rather than state charters under an...
N.Y. Agents Relieved as Lawmakers Delete ‘Draconian’ Fines
Apr 5 2006 // Insurance agents have succeeded in removing from the New York State budget a provision to hike fines against insurance professionals. The Independent Insurance Agents & Brokers of New York, Inc., praised the Assembly...
Senators Introduce Optional Federal Charter Legislation
Apr 5 2006 // Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators today unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation...
