Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
PMI Europe Receives Italian Regulatory Approval
Jul 9 2004 // The California-based PMI Group, Inc. announced that its wholly owned subsidiary, PMI Mortgage Insurance Company Limited (PMI Europe), has received regulatory approval to operate an Italian branch. PMI Europe’s office...
PCI Urges NAIC to Drop Insurance Scoring “Best Practices;” Focus on Consumer Education
Jul 9 2004 // A bulletin from the Property Casualty Insurers Association of America urges the National Association of Insurance Commissioners to stop work on insurance scoring “best practices” and develop consumer education...
NAMIC Issues Policy Paper on ‘Disparate Impact’ Theory for Credit Scoring
Jul 8 2004 // The National Association of Mutual Insurance Companies has prepared and released a bulletin attacking efforts to apply the “disparate impact” legal standard to the use of credit-based insurance scores. The...
Commentary: Farewell Reflections Continued
Jul 8 2004 // The following article is part-two of a three-part commentary written by an insurance company executive which includes an industry critique and reflection on lifelong lessons learned. For part-one see IJ National July...
La. Legislature Passes PWC Age Requirement
Jul 7 2004 // Personal watercraft operators will soon be required to be at least 16 years of age if they intend to ride in the state of Louisiana. A legislative proposal sponsored by Sen. Noble Ellington was unanimously passed in the...
R.I. Approves Flex Rating for Personal Lines
Jul 7 2004 // Rhode Island lawmakers have passed a bill to relax regulation of personal lines insurance rates in the state. The House and Senate have approved a flex-rating measure allowing insurers to increase or decrease rates by no...
N.Y. Gov. Pataki Reports Drop in Auto Rates
Jul 7 2004 // New York Gov. George Pataki announced a two percent decrease in auto insurance premiums for drivers receiving coverage under the New York Assigned Risk Plan, which will reportedly result in lower insurance payments for...
La. Legislature Completes 2004 Regular Session With More Reforms
Jul 6 2004 // The Louisiana Legislature wrapped up its regular session for 2004 on June 21. During the 2004 session, Louisiana lawmakers continued their reform of the insurance regulatory environment, aiming to bring additional insurers...
Fla. CFO Commends Governor, Lawmakers for Ending Abusive Practices in Annuities Sales
Jul 6 2004 // Florida’s Chief Financial Officer Tom Gallagher has applauded Governor Bush and state lawmakers for enacting legislation which puts an end to abusive sales practices used by unscrupulous insurance agents selling...
At NAMIC, The Door’s Wide Open to Companies of All Sizes
Jul 5 2004 // Chairman Tim Hegarty Explains How His Trade Group Serves Big and Small Alike What happens when you put giants like State Farm, AIG, Nationwide and Liberty Mutual in a room with tiny farm mutuals like Husbandsmans Mutual,...
R.I.’s Beacon Mutual to Expand into Other States for Workers’ Comp
Jul 5 2004 // Beacon Mutual Insurance Co., Rhode Island’s largest workers’ compensation insurance writer that was formed in 1990 as a state fund, is taking steps to write coverage outside of the state. The Warwick company...
R.I. MAY DELAY LEAD PAINT RULES:
Jul 5 2004 // Lead-paint regulations for thousands of old housing units were to take effect July 1 in Rhode Island, but real estate agents and a growing number of lawmakers say owners need more time to prepare for the changes. The...
Is Market Conduct Reform Finally on the Horizon’
Jul 5 2004 // As baseball immortal Yogi Berra is often fond of saying, “It ain’t over until it’s over.” This particular “Yogi-ism” somehow seems apropos when one considers recent discussions among the...
Legislative Summertime
Jul 5 2004 // Oklahoma and Louisiana lawmakers wrapped up their regular legislative sessions in June, with legislators in each state dealing with insurance issues in distinctive ways. As Tiffany O’Shea, Public Affairs director,...
Louisiana Legislature Ends Regular Session With More Reforms
Jul 5 2004 // The Louisiana Legislature wrapped up its regular session for 2004 on June 21. During the 2004 session, Louisiana lawmakers continued their reform of the insurance regulatory environment, aiming to bring additional insurers...
Calif. Lawmakers Continue to Debate Merits of Workers’ Comp Rate Regulation
Jul 5 2004 // Despite reductions in workers’ comp insurance premiums, California lawmakers will continue to debate the merits of rate regulation. A rate regulation bill, ABX4 No. 16, after passage in the Assembly on a party-line...
Passing in the Slow Lane
Jul 5 2004 // A number of years ago, very good friends of mine rallied their neighbors in an effort to improve their elementary school. With two young children of their own, they had a vested interest in a better school. But they and...
Mass. Seeks to Shake Image as Regulatory Outcast
Jul 5 2004 // Massachusetts officials, moving deliberately to change the image of the state as a regulatory nightmare for insurance companies and to re-make its systems to look more like those found elsewhere, are making progress even...
PCI Stresses Importance of Postal Service Reform
Jul 2 2004 // The Property Casualty Insurers Association of America is one of a number of organizations who have formed a coalition calling for reforms to the U.S. Postal Service. In a recent bulletin the PCI noted: “Currently the...
Agent Groups Express Appreciation as President Signs Flood Insurance Extension Bill
Jul 1 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) and the National Association of Professional Insurance Agents both hailed President Bush’s signature of the Flood Insurance Reform...
