Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Fla. CFO Issues Warning: ‘Prepare Now for Hurricanes’
May 23 2005 // After an unprecedented hurricane season last year and experts predicting the formation of more than 13 named Atlantic storms this season, Florida’s Chief Financial Officer Tom Gallagher is issuing a warning to...
WORKERS’ COMP GUARANTY FUND SAVED:
May 23 2005 // The New York Assembly and Senate have passed and Gov. George Pataki has signed into law industry-supported legislation that provides short-term rescue for the state’s workers compensation guaranty fund that had been...
Gov. Bush Pledges to Sign SB1486; Insurers Uneasy About Its Provisions
May 23 2005 // Florida Gov. Jeb Bush pledged during the May 11 opening of the annual Governor’s Hurricane Conference at the Tampa Convention Center to sign and approve Senate Bill 1486, controversial legislation that consumer...
FBI Targets Insurance in Probe of Carrier, Agent and PEO Practices
May 23 2005 // The insurance industry, already under scrutiny in some segments by state and federal authorities for various compensation, reinsurance, bid-rigging and accounting practices, now faces another questioner. The Federal Bureau...
USAA Asks for 10.3 Percent Increase; Other Requests Expected
May 23 2005 // Florida’s fifth-largest insurer USAA, filed a request in mid-May to raise premiums by a statewide average of 10.3 percent. David Foy, chief of staff for the Office of Insurance Regulation said he expects more...
Could Washington Be Listening to Small Business?
May 23 2005 // There probably are few American small business owners who could correctly identify the federal group whose primary job is to keep the president of the United States updated on the activities of government such as...
STATE FARM TO WRITE HOMEOWNERS, BUSINESS POLICIES
May 23 2005 // As of May 1, State Farm Insur-ance began accepting applications from West Virginia homeowners and businesses for new insurance policies. The company is the largest property and casualty insurer in West Virginia and in the...
Life Settlements — Understanding the Risks and the Benefits
May 23 2005 // What is a life settlement? Simply put, a life settlement is the sale of an unwanted, no longer effective life insurance policy. It may potentially be a better solution with a greater cash settlement than lapsing or...
Illinois Medical Malpractice Reforms Stalled Again
May 23 2005 // SPRINGFIELD, Ill.–A House committee voted 12-2 last month for proposal backed by doctors and Republicans to cap noneconomic damages such as pain and suffering that malpractice victims can win in court, only to see it...
CPCU Society Looking at IMSA-Type Body
May 23 2005 // The property/casualty insurance industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid-rigging and contingent commissions. A...
WASH. GOV’T TAKES PRO-BUSINESS STEPS TOWARD REGULATORY MODERNIZATION:
May 23 2005 // In what may become a significant step toward regulatory modernization of property/casualty insurance in Washington state, the governor has signed into law legislation sought by the Office of Insurance Commissioner that...
PCI SAYS INSURERS SURVIVE COLORADO LEGISLATIVE SESSION:
May 23 2005 // At the conclusion of Colorado’s recent legislative session, PCI said that the insurance industry successfully worked to preserve Colorado’s stable marketplace. Colorado’s insurance scoring law, which is...
News Briefs
May 23 2005 // MASSACHUSETTS Safe Driver Plan Revised: Massachusetts Insurance Commissioner Julie M. Bowler has approved changes in the way drivers receive discounts and surcharges to their auto insurance policies based on their driving...
State Laws Vary on Driving Distractions
May 23 2005 // New Hampshire is the only state that doesn’t require adult motorists to wear seat belts, but it does ticket drivers for eating, drinking, talking on a cell phone or fussing with their makeup while behind the...
News Briefs
May 23 2005 // MASSACHUSETTS Safe Driver Plan Revised: Massachusetts Insurance Commissioner Julie M. Bowler has approved changes in the way drivers receive discounts and surcharges to their auto insurance policies based on their driving...
CPCU Society Looking at IMSA-Type Body
May 23 2005 // The property/casualty insurance industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid-rigging and contingent commissions. A...
A Talk with New York Superintendent of Insurance Howard Mills
May 23 2005 // Pataki’s appointee brings Albany background to Spitzer-era regulatory challenges I think I’m a pretty quick study,” Howard Mills told Insurance Journal. He’s not had much choice. The former...
IBA WEST SUBMITS TESTIMONY OPPOSING REVISED PROPOSED ‘BROKER FIDUCIARY DUTIES’ REGULATIONS:
May 23 2005 // IBA West submitted written testimony expressing strong opposition to the revised “Broker Fiduciary Duties” regulations proposed by California Insurance Commissioner John Garamendi. “While these...
Illinois Medical Malpractice Reforms Stalled Again
May 23 2005 // SPRINGFIELD, Ill.-A House committee voted 12-2 last month for proposal backed by doctors and Republicans to cap noneconomic damages such as pain and suffering that malpractice victims can win in court, only to see it...
Fla. Insurance Commission Subpoenas 17 Reinsurers
May 23 2005 // Investigative subpoenas have been issued by Florida Insurance Commissioner Kevin McCarty probing the dealings of 17 reinsurers selling finite risk policies. The companies on the receiving end of the subpoenas, including...
