Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Judge Rules in Favor of State Fund in A&J Liquor Class Action Suit
Apr 8 2003 // A tentative ruling in the class action lawsuit A&J Liquor Co. Inc., et al v. State Compensation Insurance Fund found in favor of California’s largest workers’ comp insurer April 7. San Francisco Superior...
Conn. Senator Chris Dodd Honored as 2002 IIABA Legislator of the Year
Apr 7 2003 // Connecticut Senator Chris Dodd (D) was presented with the Independent Insurance Agents & Brokers of America’s 2002 Gerald Solomon Legislator of the Year Award during the Association’s 27th Annual National...
Alabama Announces Regulation Hearings
Apr 7 2003 // The Alabama Department of Insurance has scheduled regulation hearings for May 6 and May 21, 2003. The May 6 hearing will address the adoption of regulations concerning customer privacy and use of credit information....
Supreme Court Rules in Important Insurance Legal Case
Apr 7 2003 // A ruling by the U.S. Supreme Court today overturning a lower court’s ruling in State Farm Mutual Automobile Insurance Co. v. Curtis B. Campbell and Inez Preece Campbell is a victory for insurers and state regulation...
Supreme Court Sides With State Farm, Insurance Industry
Apr 7 2003 // A jury award that would have forced State Farm Insurance Cos. to pay a Utah man $145 million in punitive damages has been overturned by the U.S. Supreme Court. Insurance trade groups said the 6-3 decision was a win not...
CALIF COMMISSIONER SEEKS ‘FAIR CLAIMS’ REG. CHANGES
Apr 7 2003 // Acting to provide greater protection for consumers who file insurance claims, California Commissioner John Garamendi has proposed amendments to the Fair Claims Settlement Practices (FCSP) regulations, which govern how...
Are Cost, Availability of Calif. Homeowners Insurance at Crisis Proportions’
Apr 7 2003 // Today, the California personal lines industry is at the peak of a down cycle that has adversely affected the homeowners’ insurance marketplace. The downturn began in 2000, and worsened after the Sept. 11 attack on...
TX WATER CLAIMS BILLGOES TO SEN.
Apr 7 2003 // Legislation authored by Texas Senator Troy Fraser to speed insurance companies’ response to water damage claims, limit the amount insurers can charge homeowners for previous water damage claims, and require the...
Playing the Waiting Game in the Texas Homeowners Market
Apr 7 2003 // Could it be that there is a light at the end of the tunnel for the Texas homeowners market? Rates have firmed through waves of increases over the past two years to the point where they may have reached a pinnacle, at least...
Senate Passes Insurance Reform Bill
Apr 4 2003 // The Texas Senate passed, on a 28-3 vote, Senate Bill 14, major insurance reform legislation that addresses rate regulation and the use of credit-based insurance scores, among other things. Generally, the bill regulates the...
NAMIC Comments on Interim Rules of Terrorism Risk Ins. Act
Apr 3 2003 // The National Association of Mutual Insurance Companies (NAMIC) submitted comments this week to the Department of Treasury on the first round of interim final regulations of the Terrorism Risk Insurance Act (TRIA). The...
Industry Must Improve Regulatory Procedures, Ethics Group Says
Apr 2 2003 // The Insurance Marketplace Standards Association (IMSA) called for industry leaders to step up and take charge of efforts to improve regulatory procedures. IMSA executive director Brian Atchinson warned, The industry needs...
NAII Pushes for Regulatory Modernization in Louisiana
Mar 31 2003 // Legislative changes to address the insurance availability problem in Louisiana and to promote greater competition in the industry will be the crux of the National Association of Independent Insurers’ (NAII’s)...
Gerling Gets Favorable Court Ruling on Plans to Sell Reinsurance Unit
Mar 31 2003 // A court in Frankfurt has ruled against the German Supervisory authority’s, BAFin’s, objections to the sale of the Gerling group’s reinsurance operations, Gerling Globale Re, to Globale Management GmbH...
NAMIC Supporting Small Company Tax Inflation-Adjustment Legislation
Mar 31 2003 // Late last week, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax...
The Seibels Bruce Group Reports Lower Profit in 4Q 2002
Mar 31 2003 // South Carolina’s The Seibels Bruce Group Inc., announced financial results for the fourth quarter and year that ended December 31, 2002, reporting it posted a net profit of $805 thousand, or $0.09 per share (basic...
ACIC’s 14th Annual General Counsel Seminar Set for July
Mar 28 2003 // Insightful speakers and informative panels will present the most up-to-date overviews of issues affecting property/casualty insurers writing business in California during the Association of California Insurance...
Florida Insurance Regulator Confirmed
Mar 28 2003 // The Florida Financial Services Commission, made up of the governor and Cabinet, unanimously approved the appointment of Kevin McCarty as director of the Office of Insurance Regulation (OIR). As director, he will be...
Idaho Gov. Signs Landmark Tort Reform Measure Into Law
Mar 28 2003 // A bill signed into law March 26 by Idaho Gov. Dirk Kempthorne (R) sets the standard for tort reform in the states, according to the Alliance of American Insurers. HB 92, which passed the Senate 27-8 and the House 58-12...
NAII Strongly Opposes Proposed Medical Liability Rate Rollback in Fla.
Mar 28 2003 // The Florida Senate Banking and Insurance Committee took a 180-degree turn from the direction of the House and approved legislation that would roll back rates back by 60 percent. The National Association of Independent...
