Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Terrorism Risk Act Regulation Finalized
Jul 10 2003 // The Department of the Treasury this week finalized the first regulation implementing the Terrorism Risk Insurance Act of 2002 (TRIA). The final rule clarifies that fidelity insurance is not included under the Act and does...
Ill. Agents Favor Gov’s Signing of Credit Bill
Jul 10 2003 // The Professional Independent Insurance Agents of Illinois (PIIAI) applauds Gov. Rod Blagojevich’s decision to sign HB 1640, the Use of Credit Information in Personal Insurance Act. The bill establishes limitations on...
Calif. Lawmakers Form Workers’ Comp Reform Committee
Jul 10 2003 // California Insurance Commissioner John Garamendi commended lawmakers July 9 for moving workers’ compensation bills into a Legislative Conference Committee, and consequently moving the reform of the system closer to...
Most States Opt for Limited Regulation of Insurance Scoring
Jul 9 2003 // Of the 19 states that enacted new laws in 2003 dealing with credit-based insurance scores, legislators in 13 states elected to follow the provisions of the model act developed by the National Conference of Insurance...
Chase to Return to Auto Leasing in R.I.
Jul 9 2003 // Chase Manhattan Automotive Finance Corporation, a subsidiary of JPMorgan Chase Bank, announced that it will return to the auto leasing business in Rhode Island immediately after the Governor signs a new bill limiting...
Fla. Governor Signs Law Limiting Use of Credit Reports
Jul 7 2003 // Florida’s Chief Financial Officer Tom Gallagher announced that a new law has hit the books that will limit the use of credit reports and credit scores by insurance companies that sell homeowners and auto insurance....
Real Progress Bodes Well for Regulatory Modernization Efforts
Jul 7 2003 // The issue of state versus federal regulation of insurance provokes strong opinions and divergent points of view among insurers. Yet there is one point on which we all can agree—consumers are best served by a healthy and...
Legislative Reform Measures Discussed at IIAT Conference
Jul 7 2003 // Insurance reforms enacted by the 78th Texas Legislature dominated many discussions at the 106th Annual Independent Insurance Agents of Texas Convention, held June 19-21 in San Antonio. Not only did Lt. Governor David...
PIANJ Commends Senate on Passing Measure Protecting Agents’ Books
Jul 7 2003 // The Professional Insurance Agents of New Jersey Inc. commended the state Senate for its unanimous passage of legislation to help ensure agents’ ownership and commission rights are continued when an insurance company...
P/C SYMPOSIUM IN AUSTIN TO EXAMINE REFORM LEGISLATION
Jul 7 2003 // Insurance industry officials from around the country will meet July 17 in Austin to discuss insurance reform legislation passed during the 78th session of the Texas Legislature. Three hundred industry representatives plan...
N.J. Auto Reforms May Signal Regulatory Climate Change Nationwide
Jul 7 2003 // When Governor James E. McGreevey signed The New Jersey Automobile Insurance Competition and Choice Act (S-63/A-2625), he launched another effort aimed at solving the state’s automobile insurance crisis. This time,...
Real Progress Bodes Well for Regulatory Modernization Efforts
Jul 7 2003 // The issue of state versus federal regulation of insurance provokes strong opinions and divergent points of view among insurers. Yet there is one point on which we all can agree—consumers are best served by a healthy and...
AAI Says Pa. Motorcycle Helmet Legislation Headed for Wrong Turn
Jul 2 2003 // A bill sent to the governor on Tuesday repealing Pennsylvania’s 35-year-old mandatory motorcycle helmet law is ill-advised and should be vetoed, according to a long-time advocate of vehicular safety. The bill (SB...
PIFC Says Auto Rates will Skyrocket if Territorial Rating is Eliminated
Jul 2 2003 // Four California Insurance Commissioners and the California Supreme Court agreed the use of territory as a factor in determining automobile insurance rates is fair and equitable under Proposition 103 passed in 1988. The...
NAII Applauds House for Introducing Legislation to Preserve National Credit Reporting System
Jun 30 2003 // Late last week a bill to permanently reauthorize the expiring provisions of the Fair Credit Reporting Act (FCRA) and to help consumers combat identity theft was introduced by several members of the House Financial Services...
S&P Revises Mannheimer Leben Rating to ‘R’
Jun 30 2003 // Standard & Poor’s Ratings Services announced that it has revised its public information-based counterparty credit and insurer financial strength ratings on Mannheimer Lebensversicherung AG to ‘R’...
Winterthur, Two Others Receive Chinese Regulatory Approvals
Jun 30 2003 // Winterthur, the Insurance division of Credit Suisse, Tianan Insurance and the Shenzhen branch of Hong Kong’s Ming An Insurance Co. have reportedly been granted permission by Chinese regulatory authorities to offer...
ICT/AFACT Symposium to Look at Texas Legislation
Jun 27 2003 // Insurance industry officials from around the country will meet July 17 in Austin to discuss insurance reform legislation passed during the 78th session of the Texas Legislature. According to the Insurance Council of Texas,...
AIA Joins in Filing Amicus Brief in Support of Reg 68 Changes
Jun 27 2003 // The American Insurance Association announced that it has joined with other trade associations to file an amicus brief with the New York Court of Appeals in support of the changes in the no-fault auto insurance Regulation...
New Ill. Budget Hits Insurers With Increased Taxes, Fees
Jun 26 2003 // Illinois Gov. Rod Blagojevich has signed into law two bills dealing with taxation on surplus lines insurers and motor vehicle records fees. S.B. 1634 will require surplus line producers to file reports twice a year with...
