Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
NAII Urges Hawaii Governor to Veto HB 2827
May 27 2002 // Hawaii’s 2002 legislative session ended this month with few significant property/casualty bills passed. One pressing issue facing Gov. Benjamin Cayetano’s review, however, is House Bill 2827, which would...
AAI POINTS TO CONGRESS JEC STUDY
May 27 2002 // The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committies (JEC) new study “The Economic Costs of Terrorism,” as further evidence that federal terrorism reinsurance legislation...
NAII Says Calif. Mold Legislation Is Wrong
May 24 2002 // California state senators advanced legislation May 23 that would forbid insurance companies from restricting mold coverage in property and liability policies. In a 21-11 vote, the California Senate passed Senate Bill 1763,...
NAIC, Chinese Regulators to Cooperate as Insurance Ties with China Expand
May 24 2002 // Recent moves have confirmed the reality of the expanding Chinese insurance market. They include an agreement between U.S. and Chinese regulators to share information; an announcement that AIG has been granted a first ever...
Credit-based Score Legislation Dies as Alaska Legislature Adjourns
May 23 2002 // Skirmishing over credit-based insurance scores occupied much of the attention of the 2002 Alaska legislative session that ended last week with legislators failing to come to any agreement on the issue. The Legislature then...
NAMIC Set for Regulation Testimony
May 21 2002 // The National Association of Mutual Insurance Companies (NAMIC) said it looks forward to testifying before the House Financial Services Committee during hearings on insurance regulation next month. “NAMIC’s...
PIANJ Meets with DOBI to Clarify ID Card Reg
May 20 2002 // Officers of the Professional Insurance Agents of New Jersey (PIANJ) met recently with Department of Banking and Insurance (DOBI) and the Association for Cooperative Operations Research and Development officials to discuss...
AAI Opposes Senate Version of Online Privacy Bill
May 15 2002 // The Alliance of American Insurers expressed its opposition to the online privacy bill scheduled for markup on May 16 in the U.S. Senate Commerce, Science and Transportation Committee. Sponsored by Senate Commerce Committee...
NY Judge Orders Prison for WTC Fraud
May 13 2002 // U.S. District Judge Mary Ann Vial Lemmon ordered Jihad Razzaq, a 35-year old illegal immigrant from Palestine, to serve 15 months in federal prison for making a false claim to the New York Life Insurance Co. that his wife...
Credit Lyonnais Suit Dismissed by Federal Judge
May 13 2002 // A federal judge has thrown out a lawsuit alleging that Credit Lyonnais and others engaged in fraudulent activity in the 1993 acquisition of the assets of the futile Executive Life Insurance Co, according to the Los Angeles...
AAI Labels Calif. Workers’ Comp Rating Bill ‘Regulatory Overkill’
May 13 2002 // A bill working its way through the California Assembly that would give the insurance commissioner greater authority over workers compensation rates is contrary to the state’s open competition rating law and will only...
Terrorism Insurance Still on Front Burner for Insurers, Lawmakers
May 13 2002 // Amid heavy lobbying on the part of financial lenders, insurers, real estate executives and even President Bush, the Democrats and Republicans in the Senate seem to have come to agreement that there is need for some kind of...
Texas Offers IIABA’s First Virtual University Online Education Course
May 13 2002 // The first online continuing education course offered through the Independent Insurance Agents and Brokers of America’s (IIABA) Virtual University has been unveiled—in Texas. The course is available on the...
UTAH CREDIT SCORING LAW TAKES EFFECT
May 13 2002 // Utah’s new law restricting insurers’ use of credit-based insurance scores to “initial underwriting” and discounts took effect May 6. The state Insurance Department had asked insurers to comment on...
NAII Says Amendments to Calif. Regulations Makes Claims Handling More Difficult, Expensive for Insur
May 9 2002 // Proposed amendments to California’s fair claims settlements practices regulations exceed the Department of Insurance’s authority and would prevent insurers from settling claims in a prompt, efficient, and fair...
Regulators Hear Industry’s Cautions on Mixing Terrorism Risk and Natural Disasters in CAT Plan
May 8 2002 // A National Association of Insurance Commissioners (NAIC) committee wanting to add terrorism risk to an existing plan for catastrophe reserving has agreed to slow down after the National Association of Mutual Insurance...
AAI Points to U.S. Congress JEC Study
May 8 2002 // The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committee’s (JEC) new study The Economic Costs of Terrorism, as further evidence that federal terrorism reinsurance legislation is...
Survey Finds $180 Million Rise in Pa. Hospitals’ Med Mal Rates
May 7 2002 // Hospitals in Pennsylvania are estimated to be paying more than $180 million in additional premiums for medical liability insurance compared to a year ago, according to a statewide survey of medical professional liability...
Ohio One of 6 States to Sign Innovative Cooperative Agreement for Market Conduct Exams
May 6 2002 // Ohio Department of Insurance Director Lee Covington has signed a cooperative agreement that will increase the efficiency and effectiveness of market conduct examinations of insurance companies doing business in Ohio....
Utah Credit Scoring Law Takes Effect May 6; Dept. Working on Regulation
May 6 2002 // Utah’s new law restricting insurers’ use of credit-based insurance scores to “initial underwriting” and discounts will take effect May 6. The state Insurance Department has asked insurers to comment...
