Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
JUDGE RULES ‘ONE OCCURRENCE’ FOR TRIO OF SEPT. 11 INSURERS
Oct 14 2002 // A federal judge ruled Sept. 25 that the attacks on the World Trade Center last September resulted in “one occurrence” under a policy form used by a trio of insurers of the destroyed complex, according to a Dow...
JUDGE DISMISSES J.P. MORGAN FRAUD CLAIM
Oct 14 2002 // A federal judge has dismissed J.P. Morgan Chase & Co.’s fraud claim levied against 11 insurers, possibly derailing the company’s attempt to gather approximately $1 billion in losses resulting in trade...
Sleepless Nights for CEOs as they take the Blame for Poor Results
Oct 14 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...
Alliance Comments on CA Privacy Developments
Oct 11 2002 // Even though the Legislature adjourned weeks ago without passing onerous privacy legislation, the Alliance of American Insurers continues working to address other ill-advised privacy measures in California. The most recent...
NAMIC Urges Conferees to Complete Action on Terrorism Reinsurance Program
Oct 10 2002 // In a letter hand delivered to all terrorism reinsurance conferees, the National Association of Mutual Insurance Companies (NAMIC) and two other industry trade associations stated the critical nature of terrorism...
Firm Adds Trio of Senior Transactional, Regulatory Lawyers
Oct 8 2002 // Sidley Austin Brown & Wood LLP has added three senior insurance transactional and regulatory lawyers to the firm’s New York office. Nancy Corbett has joined Sidley as a partner. Accompanying her as counsel are...
Pa. Hospital Association Applauds Med-Mal Legislation
Oct 8 2002 // The Hospital & Healthsystem Association of Pennsylvania (HAP) hailed House passage of a state Senate bill that would limit the practice of venue shopping by plaintiff attorneys, which seek to have medical malpractice...
FSA Confident AMP Will Meet Regulatory Requirements
Oct 7 2002 // The U.K.’s Financial Services Authority (FSA) is reportedly confident that Australian insurer AMP will meet regulatory requirements concerning its U.K.-based Pearl life and pension operation. According to a report...
EU Report Indicates U.K. Gov’t. May Not Have Properly Audited Lloyd’s
Oct 4 2002 // A preliminary draft of a report prepared for the European Commission apparently indicates that U.K. regulators failed to adhere to European Community regulations in auditing and oversight of Lloyd’s of...
NAII Calls Kansas Proposal on Third-Party Claims “Unnecessary, Illogical”
Oct 4 2002 // The NAII, in a letter to Kansas Insurance Commissioner Kathleen Sebelius, stated that proposed Kansas regulations requiring insurers to treat third-party property damage claims the same as first-party claims is...
IIABA, Business Leaders Talk with President Bush on Terrorism Coverage
Oct 3 2002 // Independent Insurance Agents & Brokers of America (IIABA) CEO Robert Rusbuldt, Senior Vice President of Government Affairs Maria Berthoud and two independent agents, along with business and union leaders, met with...
NAII Holds Legislative Briefings in Texas
Oct 2 2002 // The National Association of Independent Insurers (NAII) announced it is conducting a series of a series of educational briefings for Texas legislators and their staff to provide background information on how the insurance...
Proposed Producer Licensing Regulations would Hinder Calif. Policies
Oct 2 2002 // Proposed regulations in California that address exemptions for employees who make adjustments to insurance policies from general licensing requirements need to be stronger and broader. “Unlicensed customer service...
AAI Encouraged by President’s Stance on Terrorism Legislation
Oct 2 2002 // The Alliance of American Insurers reports it was encouraged by President George W. Bush’s strong stance on the need for federal terrorism insurance legislation earlier this week. “President Bush painted a very...
IIABA Pens Letter to U.S. Senate Chairman to Commend Pursuit of Terrorism Reinsurance Legislation
Oct 1 2002 // In a letter to the United States Senate and Chairman Paul Sarbanes, the Independent Insurance Agents & Brokers of America (IIABA) is commending the Chairman in seeking a quick resolution to the present terrorism...
FSA Sets Out Goals for U.K. Insurance Industry Regulation
Oct 1 2002 // The U.K.’s Financial Services Authority, which assumed regulatory control of the country’s insurers a year ago, issued a bulletin stating that its goals were to create more openness with regulators and...
Pres. Bush Tells Lawmakers to Agree on Terrorism Legislation Within 3 Days
Oct 1 2002 // Noting that time was of the essence, President Bush has given lawmakers three days to come to an agreement on legislation guaranteeing businesses affordable terrorism insurance, according to the Associated Press. Bush...
N.Y. Governor Signs Spousal Auto Liability into Law
Oct 1 2002 // New York Gov. George Pataki signed a bill into law Sept. 26 that enables the state’s drivers to sue their spouses and collect damages under joint auto liability coverage. The National Association of Independent...
Felony Charges May be in Store for Fla. Agents Selling Unlicensed Coverage
Oct 1 2002 // Stricter penalties go into effect October 1 in Florida for licensed insurance agents who sell unlicensed insurance policies. Those agents could face a felony charge and lose their license under a new law passed during the...
Calif. Gov. Approves Legislation to Better Manage Solvency of WC Insurers
Sep 30 2002 // California Governor Gray Davis (D) has signed two measures to improve how the California Department of Insurance regulates the solvency of workers’ compensation insurers, the American Insurance Association (AIA)...
