Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Willis Group Unveils Q3 Report
Nov 2 2005 // Willis Group Holdings Limited, the global insurance broker, reported results for the quarter and nine months ended Sept. 30, 2005. Net income for the quarter ended Sept. 30, 2005 was $49 million, or $0.30 per diluted...
CDI Drops Broker Regulations
Nov 2 2005 // California Insurance Commissioner John Garamendi has announced that he will suspend his efforts to adopt new regulations imposing fiduciary duties and mandatory disclosure obligations on insurance agents and...
Admitted Drunk, Underage Driver Can Sue Bars, Mass. Court Rules
Nov 1 2005 // A Suffolk Superior Court in Boston has ruled that an admittedly drunk underage drinker in Massachusetts can sue two bars that served him alcohol before he was involved in a vehicle crash. According to Judge Ralph Gants,...
Insurers Challenge Delaware Curb on Use of Claims History in Renewals
Nov 1 2005 // Insurers are challenging a Delaware regulation that limits their ability to base homeowners insurance underwriting decisions on insureds’ past claims history. The American Insurance Association and the Property...
Miss. Gov. Barbour Says Federal Katrina-Related Aid Proposals Fall Short of Requests
Nov 1 2005 // Mississippi Governor Haley Barbour has criticized President George Bush and his administration’s proposals for Hurricane Katrina-related aid, saying it falls short of what Mississippi has requested from the federal...
CA State Fund To Host Confined Workplace Spaces Seminar
Nov 1 2005 // California State Compensation Insurance Fund’s Stockton District Office and the Stanislaus County Farm Bureau will jointly hold a free seminar, “Confined Space in the Workplace,” on November 3rd in...
N.Y. Hopeful Spitzer Stresses Strong Enforcement as Good for Businsess
Oct 31 2005 // New York Attorney General Eliot Spitzer, who is running for Governor in his home state, has painted his critics as defenders of corrupt practices and not true champions of free enterprise. He also has sought to refute the...
Insurance Industry Scores Win
Oct 31 2005 // United Industry Effort Results in CDI Deletion of Contentious Proposed Regulation Language Rancho Cordova…The Western Insurance Agents Association commended the recent action by the California Department of Insurance...
Tort Reform Legislation Passes House, Moves to Senate
Oct 28 2005 // By a vote of 228-184 on Thursday, the House of Representatives favorably approved H.R. 420, the Lawsuit Abuse Reduction Act (LARA). The legislation, introduced by Representative Lamar Smith (R-Texas), would penalize...
Conn. Senate Approves Measure to Close Truck Insurance Loophole
Oct 28 2005 // Connecticut lawmakers moved closer this week toward making it a felony for the owner of a commercial vehicle to knowingly operate it without insurance. Responding to a fiery 20-vehicle crash in Avon that killed four people...
Miss. Auto Insurance Law Doesn’t Require Punitive Damage Coverage, Court Rules
Oct 28 2005 // Mississippi state law does not require insurance companies to cover punitive damage awards in their automobile liability policies, the Mississippi Supreme Court has ruled. In 2002, Shelter Mutual Insurance Co. and Shelter...
Judge Rules Insurance Carrier Doesn’t Have to Pay ClearOne
Oct 28 2005 // A federal judge has ruled that an insurance carrier does not have to help ClearOne Communications cover a $10 million settlement with its shareholders. U.S. District Court Judge Tina Campbell said ClearOne, a maker of...
CDI Amends Proposed “Action Notice” Filing Regulations
Oct 28 2005 // The California Department of Insurance has agreed to delete a controversial section of proposed regulations that would have required insurers to notify CDI whenever a notice of agency appointment was terminated “for...
Mich. Bill Rewards Healthy Behavior
Oct 27 2005 // Insurance companies and HMOs in Michigan would be required to offer financial incentives that reward people for healthy behavior under legislation introduced Thursday in the state Senate, according to Associated...
Ind. High Court Rules Against Diminution of Value
Oct 27 2005 // The Indiana Supreme Court today ruled that insurance policies are not obligated to compensate damaged property for decline in value of the property after adequate repairs have been made. The insurance industry views the...
Chubb to Transfer Reinsurance Business to New Bermuda Company
Oct 26 2005 // Chubb’s reinsurance business will be moving to Bermuda in a three-way transaction. The Chubb Corporation and the investment firm Stone Point Capital LLC announced the formation of Harbor Point Limited, a global...
Iuppa Addresses Future of Regulation at PCI Meeting
Oct 26 2005 // Taking up the banner for the current state-based insurance regulatory system in the face of sometimes hostile critics, Maine Superintendent of Insurance Alessandro Iuppa defended the system and approaches taken by the...
N.Y. State Employees Honored for Roles in Lowering Auto Rates
Oct 26 2005 // Ten New York State Insurance Department employees and five from the New York State Division of Criminal Justice Services have been presented with the Governor’s Office of Employees Relations’ Workforce...
Alliance Denounces “DOI Attack” on Agents and Brokers
Oct 25 2005 // The Alliance of Insurance Agents and Brokers is warning California agents and brokers that the Department of Insurance (DOI) is drafting another new set of proposed regulations to impose fiduciary duties, disclosure of...
S&P Evaluates Effect of EU Regulations on Europe’s Insurers
Oct 24 2005 // Standard & Poor’s Ratings Services has published a study of the effects of new regulations on European insurers, which concludes that the regulations and structural developments within the sector “are...
