Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
AIA Applauds Okla. Regulatory Reform Order
Aug 2 2002 // An order signed last week by Oklahoma Insurance Commissioner Carroll Fisher will ease regulatory restrictions on an insurer’s ability to develop and introduce new commercial lines insurance products in the state,...
Calif. Commissioner Applauds Passage of AB 2984
Aug 1 2002 // California Insurance Commissioner Harry Low applauded Gov. Gray Davis for signing Assembly Bill 2984, which will help the California Department of Insurance (CDI) to preserve California’s high licensing standards...
IIABA Outlines Models for Auto Reform to NCSL
Jul 31 2002 // Today’s auto insurance oversight system suffers from a lack of efficiency, cost effectiveness, and timely decision-making, but greater regulatory reliance on market competition would help streamline and depoliticize...
Ala. to Hold Regulation Hearings
Jul 26 2002 // The Alabama insurance commissioner will hold hearings at the state department of insurance, 201 Monroe Street, suite 1700, Montgomery, Alabama, on Aug. 14. Issues to be discussed include: • Revision of Regulation No. 106...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines, The Industry’s Safety Valve
Jul 22 2002 // It is a rare occurrence today, but not so long ago tying down the safety valve was viewed as an acceptable way to improve a steam boiler’s performance when demand peaked. The objective was to increase the...
NAII VP Takes a Look at California’s State of Insurance
Jul 22 2002 // Sam Sorich, vice president with the National Association of Independent Insurers (NAII), says that despite the challenges facing agents and companies in California, the industry is still moving along and meeting its...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines Industry Continues to Play its Role
Jul 22 2002 // Since it’s inception in the early 19th century, the surplus lines industry has played a significant role in the insurance world: providing the buyer with insurance not available in the standard, admitted markets. As...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Disparities Between House, Senate Bills Hold Up Terrorism Backstop
Jul 22 2002 // The U.S. insurance industry must have breathed a collective sigh of relief June 18, when the Senate approved terrorism insurance backstop legislation after months of debate and delay. But now legislators must reconcile the...
Colo. Bill Would Prohibit Insurers From Refusing to Issue Fire Policy in Disaster Area
Jul 12 2002 // The Colorado House gave initial approval July 10 to a Senate bill that would prohibit insurers from refusing to issue a fire insurance policy within a federally designated disaster area due to wildfire. The prohibition...
AIA Calls on NAIC Privacy Issues Working Group to Remove Proposed Amendment to Model Regulation
Jul 10 2002 // The American Insurance Association (AIA) is calling on the National Association of Insurance Commissioners (NAIC) Privacy Issues Working Group to withdraw a proposed amendment to the model privacy regulation. The proposed...
NAII Urges Caution on Federal Legislative Move to Address Mold
Jul 9 2002 // Congress should proceed cautiously as it considers a federal approach to mold- related insurance claims and seeks to establish mold exposure standards, according to the National Association of Independent Insurers...
Money Laundering Report Cites Successes, Extra Work
Jul 9 2002 // A new report on money laundering prepared by Professor Martin Gill of the University of Leicester’s Scarman Centre, concludes that the senior mangers of most financial firms, including insurance companies, now...
Scottish Judge Rules Out “Fast Track” for Asbestos Victims
Jul 9 2002 // Lord Cullen, Scotland’s Lord Justice General, ruled that plaintiff’s in asbestos related cases most continue to bring their actions through regular court proceedings rather than applying the rules of the...
Judge Rules Swiss Re Can Question GMAC on WTC Settlement
Jul 4 2002 // Swiss Re won another round in its lawsuit with Silverstein Properties over the amount of the recovery for the WTC losses, when Judge John Martin ruled that conversations between Silverstein’s lawyers and GMAC’s...
Coalition Supports Bill to Reform NJ Auto Insurance Regs
Jun 28 2002 // After months of discussion, and a last minute compromise which assured that State Farm will continue in New Jersey’s automobile insurance market for at least the next three years, Legislators have finally introduced...
NJ, State Farm Agree to Delay Withdrawal for 3 Years
Jun 26 2002 // State Farm Indemnity, New Jersey’s largest auto insurer with around 735,000 policyholders, has reached agreement with the governor and the NJ Department of Banking and Insurance (DOBI) to delay its withdrawal from...
AASCIF President Met with Senator for Swift Passage of Terrorism Legislation
Jun 26 2002 // Kenneth Bollier, president of the American Association of State Compensation Insurance Funds (AASCIF), recently met with U.S. Senator Charles Schumer (D-New York) and the staffs of Senators Barbara Boxer (D- California)...
