Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
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...
Do Not Call Legislation: Are You in Compliance’
Nov 3 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...
The Garamendi Plan: Workers’ Compensation Reform Phase II
Nov 3 2003 // California Insurance Commissioner John Garamendi outlined the second phase of his workers’ compensation reform plan Oct. 21. The reform legislation that he helped shape during the first phase of this effort is...
NAII’s Annual Meeting Features Celebrity Speakers, Wheeling and Dealing
Nov 3 2003 // Where do you go to see a best-selling business author, a folksy economist, wisecracking political pundits, a college football star turned ex-Congressman and a bona fide American military hero? The National Association of...
Old American Gets New Life Under SB 14
Nov 3 2003 // Since 1946, Dallas-based Old American County Mutual Fire Insurance Co. has stayed true to a simple business philosophy: Provide reasonably priced insurance on a reasonable payment schedule for difficult risks. Much has...
Wooley, Kyle Battle for Louisiana’s Top Insurance Job
Nov 3 2003 // And then there were two. That is the scenario for this month’s runoff election (Nov. 15) in the race to be the next insurance commissioner in Louisiana. The Oct. 4 primaries brought the field of candidates down to...
NAII’s Annual Meeting Features Celebrity Speakers, Wheeling and Dealing
Nov 3 2003 // Where do you go to see a best-selling business author, a folksy economist, wisecracking political pundits, a college football star turned ex-Congressman and a bona fide American military hero? The National Association of...
Europe’s Banks and Insurers Appeal for Regulatory Harmonization
Oct 29 2003 // The European Financial Services Round Table (EFR), has prepared a report titled “Harmonization of Regulation and Supervision of the European Financial Sector,” calling for increased harmonization on a European...
Navigators Pro Offers New Lawyers’ Professional Liability Policy
Oct 28 2003 // Navigators Pro, a division of Navigators Management Company, a subsidiary of The Navigators Group, announced the introduction of “LPL Magistrate(SM) its Lawyers’ Professional Liability Policy.” The...
PIANY Welcomes New Producer Licensing Law
Oct 27 2003 // After announcing plans to inform its members how to implement NY’s new Producer Licensing Act, (See IJ Website Oct. 24) the Professional Insurance Agents of New York State Inc. has issued a bulletin praising the...
Texas Supreme Court Rules Against Diminished Value
Oct 24 2003 // In overturning a lower court ruling, the Texas Supreme Court has ruled that insurance contracts do not require an insurer to pay a policyholder for the vehicle’s so-called diminished value. In the case of American...
Insurers Raise Concerns About Excessive Growth of the NAIC Surplus
Oct 24 2003 // Two major property/casualty trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners’ (NAIC) proposed 2004 budget. For the three-year period...
NAMIC Says Federal Regulation is Wrong Answer at the Wrong Time
Oct 23 2003 // While insurance regulation reforms are needed, federal regulation of insurance is the wrong approach, according to a major property/casualty trade association. The National Association of Mutual Insurance Companies...
IIABA Tells Senate Panel That State Regulation Should Be Reformed, Not Abolished
Oct 23 2003 // There is a vital role for Congress to play in reforming the state insurance regulatory system, but such an effort need not replace or duplicate at the federal level what is already in place at the state level, the...
Alliance Encouraged by Closeness of Vote on Class Action Legislation
Oct 23 2003 // The efforts of the business community, insurers, and concerned citizens are reportedly beginning to show results as evidenced by the close procedural vote that occurred on class action reform legislation Wednesday in the...
Ariz. DOI Establishes Rate Limits for Credit Property and Credit Unemployment Insurance
Oct 23 2003 // On Oct. 15, 2003, Director of Insurance, Charles Cohen, issued an order that establishes loss ratio standards and rate limits for credit property and credit unemployment insurance products offered to Arizona...
N.Y. Court of Appeal Rejects Reg 68 Challenge, Praised as Victory Against Fraud
Oct 22 2003 // The New York Court of Appeals has unanimously upheld the state Insurance Department’s right to implement the reforms contained in Regulation 68, which would require notice of a “no-fault” claim to be...
Calif. Commissioner Unveils Second Phase of Reform Plan
Oct 22 2003 // California Insurance Commissioner John Garamendi outlined the second phase of his workers’ compensation reform plan Oct. 21. The reform legislation that he helped shape during the first phase of this effort is...
Speakers at CIWA Breakfast Underscore Role of Local Wholesale Brokers’ Assoc.
Oct 20 2003 // Richard Bouhan, executive director of NAPSLO, and California Insurance lobbyist Dietmar Grellman of Norwood & Associates stressed the need for vigilance and activism at a breakfast sponsored by the California...
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
