Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Big ‘I’ Praises Approval of Terrorism Insurance Backstop Bill by Financial Services Committee
Sep 29 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) is hailing House Financial Services Committee passage of H.R. 4634, the Terrorism Risk Insurance Backstop Extension Act. The Association...
Mich. Insurer Group Taps Former Auto Industry Lobbyist as New Executive Director
Sep 28 2004 // The Lansing, Mich.-based Insurance Institute of Michigan has named a former lobbyist for the auto industry as its new executive director. Peter Kuhnmuench will start Oct. 11, 2004 and previously served as legislative...
NAIC Adopts Amendments to Medicare Model Law
Sep 27 2004 // The National Association of Insurance Commissioners (NAIC) has adopted amendments to its Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards Model Act to make it compliant with the...
CIAB Urges TRIA Extension, Passage of Regulatory ‘Roadmap’ at Testimony
Sep 24 2004 // The Council of Insurance agents & Brokers has told Congress that it “should move to extend the federal terrorism backstop beyond its Dec. 31, 2005, expiration date because the private marketplace is not prepared...
AIA Insurers Call State Regulation a ‘Trifecta’ of Failure, State Their Case for Federal Role
Sep 23 2004 // A representative of the American Insurance Association (AIA) testified before the Senate Banking Committee, alleging that “the outdated, dysfunctional nature” of state insurance regulation does not allow the...
California Governor Vetoes Bill Sponsored by Personal Injury Lawyers
Sep 23 2004 // Continuing to act on his pledge to improve California’s business climate and prevent expensive litigation and abuse by special interest groups, Gov. Arnold Schwarzenegger (R) has vetoed legislation sponsored by...
On Behalf of State Regulators, N.Y. Superintendent Serio Speaks Out Against Federal Oversight
Sep 22 2004 // Claiming that progress is already underway toward building a stronger, national, state-based system of insurance regulation, the National Association of Insurance Commissioners (NAIC) told the Senate Committee on Banking,...
NAMIC Cites Oxley as Legislator of the Year
Sep 21 2004 // Rep. Michael Oxley (R-OHIO), chairman of the powerful House Financial Services Committee which handles federal terror insurance, flood program and other industry legislation, was named the first-ever Legislator of the Year...
New Article Reportedly Confirms Earlier Findings Regarding Government Price Controls for Insurance
Sep 21 2004 // A recent report produced by Milliman Inc. has reportedly confirmed findings from its earlier study regarding California’s Proposition 103, which instituted a system of rigid price regulation for insurance...
Kansas Bulletin on Credit Scoring’s ‘Sole Use’ Meets With Industry Resistance
Sep 20 2004 // The current Kansas Insurance Department regulation as well as a proposed bulletin on the use of credit-based insurance scores significantly alters the Kansas Insurance Score Act, one of 20 state laws based on the NCOIL...
CALIFORNIA WORK COMP FRAUDSTERS TO BE POSTED ON WEB:
Sep 20 2004 // Governor Arnold Schwarzenegger recently signed into law AB 2866, legislation that requires individuals and companies convicted of workers’ compensation insurance fraud to be posted on the Web, according to the Gilroy...
Fiduciary Liability: The Most Misunderstood of Management Exposures
Sep 20 2004 // In the early 1960s, life in the United States was lived at a slower pace. Transportation and communication required more time (and patience) and employees were more inclined to trust employers on issues relating to...
Insurance Industry Hopes to Extend TRIA in Time for 2005 Policies
Sep 20 2004 // But Not Everyone Thinks Renewing the Federal Backstop is a Good Idea Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a...
PIA ENCOURAGED, BUT WILL NOT ENDORSE SMART BILL:
Sep 20 2004 // The National Association of Professional Insurance Agents (PIA) says it is encouraged by the discussion draft of a bill that provides a “road map” for insurance regulatory reform. The draft of the State...
CII Says AXA’s De Castries Believes Rough Times Have Strengthened the Industry
Sep 20 2004 // The U.K.’s Chartered Insurance Institute is gearing up for this year’s Insurance & Financial Services Conference, which will take place in Birmingham, Sept. 29-Oct.1. In advance of the conference the CII...
IBC to Hold 4th Annual Regulatory Affairs Symposium
Sep 20 2004 // The Insurance Bureau of Canada will be hosting its 4th annual Regulatory Affairs Symposium on Thursday, November 4, 2004 from 8:45 a.m. to 1:30 p.m. (luncheon included) at the Toronto Sheraton Centre Hotel. An IBC bulletin...
One-on-One with NAPSLO’s Outgoing President
Sep 20 2004 // When the outgoing president of the National Association of Surplus Lines Offices (NAPSLO), Jim Griffith, founded Princeton Risk Managers in 1974, organizers of the surplus lines association were convening in Florida to...
Building Relationships Key to Success Says NAPSLO’s Incoming President
Sep 20 2004 // Polizzi Prepares to Take the Reins at Orlando Convention Thirty years ago a small group of surplus lines professionals met in Miami Beach, Fla., to form what would be known today as the National Association of Surplus...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
India – Fascinating, Frustrating and Growing
Sep 20 2004 // This is the second in a series of articles on the Asia insurance marketplace. The next article in this series will focus on Japan and will appear in an October issue of Insurance Journal. An ancient Indian parable tells...
