Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
PIA of Florida Summarizes Tallahassee Legislation; One Week Until Finale
May 3 2005 // The Professional Insurance Agents of Florida reports from Tallahassee that with the end of the Florida Legislature’s spring sessions only a week away, legislators are beginning to realize that time is of the essence...
MMC Unveils Q1 Numbers; Cherkasky: Steps Taken to Make Us Stronger
May 3 2005 // Marsh & McLennan Companies Inc. (MMC) on Tuesday reported financial results for the quarter ended March 31, 2005. Consolidated revenues totaled $3.2 billion, and net income was $134 million, or $.25 per share. These...
Wash. Gov’t Takes Pro-Business Steps Toward Regulatory Modernization
May 3 2005 // In what may become a significant step toward regulatory modernization of property and casualty insurance in Washington state, the governor has signed into law legislation sought by the Office of Insurance Commissioner that...
Calif. Legislative Committee Takes Correct Action on Producer Requirements
May 3 2005 // California legislators have issued a “sharp rebuke” of Insurance Commissioner John Garamendi’s efforts to impose new requirements on agents and brokers, according to the National Association of Mutual...
AIG to Restate Past Financials as Internal Audit Continues; Acknowledges Lack of Internal Controls
May 2 2005 // American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be reduced by $2.7 billion, or...
W. Va. Insurers React to Passed Legislation, Five Companies Decreasing Auto Rates
May 2 2005 // Insurers in West Virginia, reacting to the legislation singed last week that eliminates third-party, bad-faith lawsuits, have begun to take the first steps toward lowering insurance rates. State Farm Insurance Friday...
PCI Ad Campaign: Alerts Lawmakers About Negative Effects of ‘Pro-Consumer’ Proposals
May 2 2005 // The Property Casualty Insurers Association of America launched an advertising campaign today in Florida warning lawmakers about misguided hurricane insurance bills that will raise rates, make insurance harder to find and...
AAMGA Ethics Workshop Topic: Insurance Industry Pressures
May 2 2005 // “Ethics in the Wholesale Insurance Marketplace” workshops concluded on Saturday afternoon with a round-table discussion, led by Ernest Csiszar, president of the Property and Casualty Insurance Association of...
PCI: Collaborative Effort Yields Positive Results for Insurers in Washington
Apr 29 2005 // Despite early signs that the 2005 session of the Washington Legislature would impose a series of costly and burdensome measures on the insurance market, the Property Casualty Insurers Association of America (PCI) saw the...
Proposed Legislation Ensures Fairness in Standards Applied to Agents in Texas
Apr 29 2005 // Texas House Bill 2155 and Senate Bill 236 were recently debated before each Chamber’s respective committee. This critical legislation, sponsored by the Independent Insurance Agents of Texas, merits broad support, as...
Insurer Groups Praise Texas Senate Passage of Asbestos Reform Legislation
Apr 29 2005 // Both the American Insurance Association and the Property Casualty Insurers Association of America recently issued statements lauding the Texas Senate for passing comprehensive asbestos and silica litigation reform...
Key Issues Remain Unsolved As Fla. Passes HB 1937
Apr 29 2005 // House Bill 1937 passed with a vote of 96-20 on Thursday, despite opposition about exemptions on paying policy limits. One of the key issues still under consideration is a legislative remedy for a 2004 Florida court...
PIFC: Garamendi’s Proposed Homeowner Regs Flawed
Apr 29 2005 // There is not one statute in the entire Insurance Code of California that authorizes the insurance commissioner to adopt a proposed set of homeowners’ insurance regulations submitted to the Office of Administrative...
R&M Reports on Global Insurance Market Regulators
Apr 28 2005 // Dublin-based Research and Markets has announced the addition of a study on Global Insurance Regulators to their offering. “Rapid growth in financial services regulation in many countries has led to demand for high...
NAMIC Says Calif. Commissioner Continues Search for Problem to Solve on Broker Compensation
Apr 27 2005 // California Insurance Commissioner John Garamendi’s hoped-for regulations on the professional duties of an agent or broker propose solutions to problems that have yet to be identified according to the National...
Pa. Lawmaker Wants Shield Against Obesity Lawsuits
Apr 26 2005 // A state legislator wants to add Pennsylvania to the list of states that protect the food industry from lawsuits in which people blame restaurants and other food vendors for making them fat. Rep. Douglas Reichley, R-Lehigh,...
Mich. Judge Rules Insurance Scoring Ban Illegal
Apr 26 2005 // Michigan’s Office of Financial and Insurance Services overstepped its authority in issuing rules that prohibited the use of credit-based insurance scores, according to a Michigan Circuit Court judge. In the case of...
State Farm Back in W.Va. Market; Will Write New Homeowners, Business Policies
Apr 26 2005 // State Farm Insurance has announced that as of May 1 it will begin accepting applications from West Virginia homeowners and businesses for new insurance policies. The company is the largest property and casualty insurer in...
Failure of Bills to Ban or Restrict Credit Scoring in Wash. Critical to State Ins. Marketplace, Says NAMIC
Apr 26 2005 // The failure of four bills introduced during the Washington State legislative session that would have banned or added further restrictions to the use of credit-based insurance scoring as an underwriting tool may send the...
Ariz. Gov. Napolitano Signs Pro-Business Legislation
Apr 26 2005 // The Property Casualty Insurers Association of American (PCI) on Tuesday commended Arizona Gov. Janet Napolitano for signing into law legislation that will allow business owners an opportunity to lower their insurance...
