Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
PICKENS PROMOTES NAIC PLAN:
Nov 17 2003 // Arkansas Insurance Commissioner Mike Pickens told members of the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises that regulating insurance is a function of the states, a system that...
Do Not Call Legislation: Are You in Compliance’
Nov 17 2003 // In this ever-changing world of privacy regulation and legislation, many in the insurance industry are left wondering, ‘Where do I fit in?’ There are a number of insurance agencies that use telemarketing to...
Insurers Question NAIC Budget Reserves
Nov 17 2003 // Insurance industry representatives are once again unhappy with a proposed budget of the National Association of Insurance Commissioners (NAIC), the quasi-governmental body that collects insurers’ annual financial...
Fla. Advises Construction Industry: Apply for New Workers’ Comp Exemptions by Nov. 30
Nov 13 2003 // Florida’s Chief Financial Officer Tom Gallagher has urged current workers’ compensation exemption-holders in the construction industry to take the necessary steps to file for a new exemption by Nov. 30. All...
Alliance Comments on Proposed Changes to Fla. Holding Company Regulations
Nov 13 2003 // The Alliance of American Insurers (AAI) has filed formal comments in regards to a proposed rule by Florida insurance regulators that would reportedly change regulations regarding insurance holding companies in that...
Moody’s: Wildfires Will Hurt Insurers’ Bottom Line
Nov 12 2003 // Moody’s Investors Service said in a statement that it does not expect its ratings or outlook on the U.S. personal lines insurance sector as a whole to be impacted solely by the recent spate of California...
NAII: Merged Trade Assn. Would Provide Unity, Stronger Industry Voice
Nov 11 2003 // A merger between the Alliance of American Insurers and the National Association of Independent Insurers (NAII) would instantly vault the new organization into a commanding position in the industry, NAII President and CEO...
Agents Tout Pragmatic Reforms During House Hearing
Nov 7 2003 // Former Independent Insurance Agents & Brokers of America (IIABA) President Tom Ahart and Ronnie Tubertini, chairman of IIABA’s Government Affairs Committee, on Thursday provided their perspectives on the current...
Alliance Urges Congress to Settle Differences on FCRA Before it Expires
Nov 7 2003 // Following the Senate’s 95‑2 approval of S 1753, the Alliance of American Insurers urged quick action to resolve differences between the House and Senate versions of the Fair Credit Reporting Act (FCRA)...
Garamendi Drops Workers’ Comp Advisory Pure Premium Rate 14.9 Percent
Nov 7 2003 // In an effort to provide relief to skyrocketing workers’ compensation premiums in California, Insurance Commissioner John Garamendi lowered the advisory pure premium rate by 14.9 percent, a shift that would return...
Pickens Promotes NAIC’s Modernization Plan in Congress
Nov 7 2003 // Arkansas Insurance Commissioner Mike Pickens told members of the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises that regulating the business of insurance is a function of the states,...
States Can Reportedly Achieve Competitive Markets; Federal Push Should Motivate State Action
Nov 6 2003 // Congress’ interest in insurance regulation should reportedly motivate state policymakers to act to make the insurance marketplace more competitive, according to a property/casualty trade association. NAMIC, the...
U.S., Foreign Trade Groups Ask IASB to Revise Proposed Insurance Guidance
Nov 6 2003 // With the aim of reportedly aiding in the development of an international accounting standard for insurers, the National Association of Independent Insurers (NAII) and six other major insurance trade associations have asked...
N.Y.’s Sen. Hannon Tells Congressional Committee States Should Regulate Insurance
Nov 6 2003 // New York State Senator Kemp Hannon minced no words in his testimony today before the U.S. House Financial Services’ Subcommittee on Capital Markets Insurance and Government Sponsored Enterprises. “For more than...
ACORD to Provide N.J. Auto ID Cards
Nov 6 2003 // The Association for Cooperative Operations Research and Development (ACORD) announced that it will soon be providing temporary as well as permanent auto ID cards in New Jersey, as part of a major change in the...
Alliance Recommends NAIC Return Some Fees to Companies
Nov 5 2003 // The Alliance of American Insurers this week urged the National Association of Insurance Commissioners (NAIC) to show they are serious about modernizing state regulation by reducing the monies they are collecting from...
U.K. Gov’t. Launches Review of FSA Law, ABI Approves
Nov 5 2003 // The U.K.’s Treasury Department will begin an investigation of the Financial Services and Markets Act, which created the Financial Services Authority as the sole regulatory and enforcement agency for financial...
Corporate Governance, Asbestos Included Topics at 15th Annual P/C Executive Conference
Nov 3 2003 // Corporate governance, the future of asbestos legislation, and building capital strength will be among the topics discussed this month at the 2003 annual Property/Casualty Executive Conference, as announced by conference...
U.S. Marine Insurers Respond to Post-9/11 World of Domestic Security Rules and Regulations
Nov 3 2003 // U.S. ocean marine insurers need to work in partnership with government and all components of the maritime trade in order to meet the challenges of operating in the post-9/11 environment, according to David French,...
AFG’s 3Q Earnings Down 14% From Year Earlier
Nov 3 2003 // Cincinnati-based insurer American Financial Group (AFG) reported net earnings for the 2003 third quarter of $41.6 million, or 59 cents per share. These results include an after-tax charge of $23.1 million, or 33 cents per...
