Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Fitch Says Terrorism Bill a Mix Blessing for U.S. Insurers
Nov 22 2002 // Fitch Ratings commented that while the passage of a much anticipated terrorism insurance bill is overall a favorable development for the U.S. economy, and benefits the insurance industry, the passage of the bill will...
EU Adopts New Regulations on Bancassurance
Nov 21 2002 // The European Parliament, the legislature of the European Union, has adopted the recommendations of the European Commission, the EU’s executive arm, to tighten up regulations controlling Europe’s huge...
AAI Lauds Senate Approval of Terrorism Legislation
Nov 20 2002 // Alliance of American Insurers President Rodger Lawson, is praising Tuesday’s Senate passage of the Terrorism Risk Protection Act Conference Report, HR 3210, as “another important step on the road to insurance...
AAI Gathering Told Increased Corporate Governance Requirements Will Impact Both Stock and Mutual Insurers
Nov 18 2002 // The strict new requirements of the Sarbanes-Oxley Act of 2002 will impact not only publicly-held insurance companies, but they also set the bar for mutual insurers, according to experts who spoke at the Corporate...
Texas Coalition Promotes Competition, Consumer Protection
Nov 18 2002 // The Texas Coalition for Affordable Insurance Solutions (www.tcais.org ), whose membership includes a number of insurers operating in the state, urged the Texas Legislature to adopt regulatory reforms that promote...
IIABA Commends House Approval of Terrorism Insurance Legislation
Nov 15 2002 // The Independent Insurance Agents & Brokers of America (IIABA) commends House leaders for working cooperatively to pass terrorism insurance legislation yesterday, and urges the Senate to immediately follow suit and...
Lloyd’s Names Franchise Board Members
Nov 14 2002 // Lloyd’s has selected ten of the eleven members who will serve on the newly created Franchise Board (FB) which will take over management of the insurance market’s supervisory and commercial affairs beginning...
Filing of Insurance Bills in Texas Begins
Nov 13 2002 // Texas legislators wasted little time in filing post-election insurance reform legislation. One week after an election in which campaigns rang with promises from Republicans and Democrats alike to bring down homeowners...
TCAIS Initiates Reform Campaign
Nov 12 2002 // The Texas Coalition for Affordable Insurance Solutions, www.tcais.org, an Austin-based alliance of insurance providers, launched an insurance reform campaign to encourage legislators, regulators and other policymakers to...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
DIMINISHED VALUE CONSIDERED IN TX
Nov 11 2002 // The National Association of Independent Insurers (NAII) is urging the Texas Supreme Court to review and overturn a lower court ruling requiring personal automobile insurers to pay diminished value under the terms of an...
Sleepless Nights for CEOs as They Take the Blame for Poor Results
Nov 11 2002 // Uneasy lies the head that wears a crown.” King Henry’s 15th century lament over his lack of sleep may well be shared these days by a number of 21st century CEOs, as investors call for their heads in the wake of...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
IIABA Optimistic on Legislative Agenda Following Mid-Term Election
Nov 8 2002 // The results of Tuesday’s historic mid-term election have buoyed the hopes of independent agents and brokers that several critical insurance and business concerns may cross the finish line in the new 108th Congress,...
Iowa, Utah Adopt Consumer Privacy Regulations
Nov 7 2002 // Iowa and Utah have adopted consumer privacy regulations that closely follow a National Association of Insurance Commissioners’ (NAIC) model. National Association of Independent Insurers (NAII) Counsel Ann Weber...
NAII Opposed to Proposed Mass. Telemarketing Regulations
Nov 6 2002 // The National Association of Independent Insurers (NAII) has decried a regulation proposed by the Massachusetts Office of Consumer and Business Affairs that would require all businesses engaging in telephone solicitation to...
Calif. Commissioner Prepares to Hand Over Reins
Nov 6 2002 // “I would say that the availability of insurance at reasonable rates continues to be a key challenge in the year 2002 and will be ongoing in the next year or two,” California Insurance Commissioner Harry Lowe...
S&P Revises Highlands Ratings After Bankruptcy Filing
Nov 5 2002 // Standard & Poor’s Ratings Services revised the financial strength ratings of Highlands Insurance Co. and its subsidiairies from triple-“Cpi” to “R” after the firm’s holding company,...
NAII Decries N.H. Court Ruling on Workers’ Comp Interest Payments
Nov 5 2002 // The National Association of Independent Insurers (NAII) objected to a recent New Hampshire Supreme Court ruling determining that interest on workers’ compensation payments run from the date of loss rather than the...
Ky. Supreme Court Rules on Parental Consortium Claims
Nov 5 2002 // The Kentucky Supreme Court unanimously ruled in Daley v. Reed recently that a claim for loss of parental companionship and services is payable under the “each person” limit, not the “each accident”...
