Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Ohio Ins. Dept. Introduces P/C Product Requirements Locator
Dec 13 2002 // Holly Saelens, Interim Director of Ohio’s Department of Insurance (ODI), announced the launch of a new “Property & Casualty Product Requirements Locator,” that will provide “a national...
Calif. Agents, Brokers to Comply with New Privacy Regs
Dec 13 2002 // The California Department of Insurance has announced that California agents must comply with new privacy regulations effective March 24, 2003. The new stipulations will unite the Gramm-Leach-Bliley Act (GLBA) with the...
AIA Calls on MN Commerce Dept. to Rescind Credit Scoring Regs.
Dec 12 2002 // The Alliance of American Insurers called on the Minnesota Department of Commerce to rescind regulations contained in a series of recently issued documents setting forth procedures and filing instructions for companies...
AIA Pleased by Formation of New NAIC Working Group on Class Action
Dec 11 2002 // Arkansas Insurance Commissioner Mike Pickens, newly elected president of the National Association of Insurance Commissioners (NAIC), reported during a meeting of the Consumer Protection Working Group that the NAIC will...
AAI Pleased With Early Action by Treasury, NAIC on Terrorism Insurance
Dec 10 2002 // The Alliance of American Insurers (AAI) says it is pleased with the initial steps taken by the U.S. Department of the Treasury in the implementation of the terrorism insurance legislation signed by the President...
Regulators Honor TDI Staffer
Dec 10 2002 // Betty Patterson, senior associate commissioner in charge of the Texas Department of Insurance’s Financial Program, is one of this year’s two winners of the most prestigious award presented by the National...
AIA Applauds Passage of Miss. Tort Reform Measure
Nov 27 2002 // The Mississippi State Legislature enacted compromise legislation facilitating compromise tort reform, a move hailed by the American Insurance Association (AIA). “Legislators clearly understood that a healthy business...
Settlement between AIG, WorldCom Approved by Judge
Nov 27 2002 // A federal judge has approved an insurance settlement between bankrupt telecommunications company WorldCom Inc. and National Union Fire Insurance Company, a unit of AIG. According to Dow Jones, the approval was reached days...
Lee Covington Steps Down as Ohio Insurance Commissioner
Nov 26 2002 // Lee Covington has formally announced his intention to resign his position as Director of the Ohio Department of Insurance before December 10 “to pursue career options in the private sector.” “This was a...
S&P’s: Little Ratings Cheer for Insurers in Terror Law
Nov 26 2002 // The newly mandated adoption of terrorism risk by commercial property/casualty insurers in the U.S. casts a shadow on ratings prospects, compounding Standard & Poor’s negative outlook on the industry, according...
NAII Decries W.Va. Court Ruling on Banks Selling Insurance
Nov 25 2002 // The U.S. Court of Appeals for the Fourth Circuit has given deference to the Office of the Comptroller of the Currency (OCC) in a dispute over regulatory authority with the West Virginia Insurance Commissioner’s...
Time to Start Thinking About Outsourcing Payroll
Nov 25 2002 // With 2003 just around the corner, it’s not too early to make a new year’s resolution. This year, why not make a vow to eliminate your payroll pains? Whether you process payroll manually or use a service, the...
Get to Know Your State Legislators
Nov 25 2002 // If there was one message speakers at the 2002 Annual Meeting of the Texas Surplus Lines Association (TSLA) wanted their audience to go away with, it was: Get to know your state legislators. That was the mantra chanted by...
LET THE FILING BEGIN
Nov 25 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...
Time to Start Thinking About Outsourcing Payroll
Nov 25 2002 // With 2003 just around the corner it’s not too early to make a new year’s resolution. This year, why not make a vow to eliminate your payroll pains? Whether you process payroll manually or use a service, the...
NAII Praising Senate for Including Risk-Sharing Mechanisms in Terrorism Reinsurance Bill
Nov 22 2002 // The Senate’s recent approval of H.R. 3210, the Terrorism Risk Insurance Act of 2002, puts the bill on the desk of President Bush, who is expected to sign the legislation Dec. 2. The new legislation creates a...
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...
