Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Insurers Lament Senate Inaction on Crucial Federal Terrorism Insurance Legislation
Dec 21 2001 // The push to enact federal terrorism insurance before the end of the year failed on Dec. 20 after promising Senate legislation was held hostage because some provisions ran contrary to the trial lawyer’s agenda,...
Report European Commission Set to Investigate Lloyd’s Regulation
Dec 20 2001 // London’s Financial Times carries a report that the European Commission has completed a preliminary investigation of Lloyd’s operations and may well “open formal proceedings against the UK...
Regulators Move Forward on Programs Designed to Prevent Market Problems, Standardize Exams
Dec 20 2001 // The National Association of Insurance Commissioners (NAIC) has begun developing a program to help states identify market conduct problems as early as possible and has adopted a proposal to make market conduct exams more...
NAFTA: Proceed, but with Caution
Dec 17 2001 // The problems swirling around the twin issues of safety and insurance with regards to allowing commercial trucks from Mexico free access to U.S. highways are as thorny as a prickly pear cactus. The U.S. House of...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Property and Casualty Commercial Rate and Policy Form Model Law Approved
Dec 14 2001 // State insurance commissioners have advanced a model law to modernize commercial rate and form filings, with final approval possible in the spring. A working group of the National Association of Insurance Commissioners...
U.K. Court Rules Against Asbestos Victims
Dec 12 2001 // The U.K.’s Court of Appeal overruled a lower court decision that allowed workers suffering from asbestos related diseases to seek damages in cases where they had worked for more than one employer, who may have caused...
California Regulatory System Analyzed
Dec 12 2001 // The California system held up by a consumer group as a model for auto insurance regulation in fact may have kept California consumers from enjoying billions of dollars in premium reductions over the past decade....
AIA Commends House in Passing Trade Promotion Authority Legislation
Dec 10 2001 // The American Insurance Association (AIA) commended the U.S. House of Representatives for passing legislation to grant Trade Promotion Authority (TPA) to the President. “This legislation is important to insurance...
House Passes Terrorism Risk Protection Act, Attention Now Turns to Senate
Dec 10 2001 // In what is viewed by many leading insurance industry organizations as a significant step in the right direction, the U.S. House of Representatives passed the Terrorism Risk Protection Act (HR 3210) by a vote of 227-193 on...
FSA Moves to Strengthen Enforcement of U.K. Insurance Regulations
Dec 4 2001 // Britain’s Financial Service Authority (FSA), which officially took on broad new regulatory powers over the insurance industry on Dec.1, plans to increase its surveillance, not only by requiring enhanced and more...
Bermuda’s Monetary Authority to Handle Insurance Regulation
Dec 4 2001 // The Government of Bermuda has transferred responsibility for regulating the island’s insurance operations from the Finance Ministry to the Monetary Authority in a move seen by analysts as increasing transparency and...
NAII Praises Legislators for Preserving Regulatory Modernization Model
Dec 3 2001 // At its recent meeting, the National Conference of Insurance Legislators (NCOIL) deferred formal action on proposed amendments to its Personal and Commercial Lines Regulatory Modernization Model Act. The Model Act, adopted...
NAMIC Comments on Leading Issue Trends Among Year’s New P/C Laws
Dec 3 2001 // New state laws concerning workers’ compensation, automobile insurance, financial and other regulatory requirements account for over half of the property/casualty-related insurance laws enacted by state legislatures...
House Passes Terrorism Reinsurance Bill
Nov 30 2001 // The U.S. House of Representatives passed the Terrorism Risk Protection Act (HR 3210) by one vote of 227-193 on the afternoon of Nov. 29. According to the Independent Insurance Agents of America (IIAA), the legislation...
NCOIL Defers Formal Action on Proposed Amendments
Nov 29 2001 // At its recent meeting, the National Conference of Insurance Legislators (NCOIL) deferred formal action on proposed amendments to its Personal and Commercial Lines Regulatory Modernization Model Act. The Model Act, adopted...
NAII Asks Washington Court of Appeals to Reverse Lower Court Ruling
Nov 27 2001 // Liability insurance is not designed to cover each drink served to an already intoxicated customer as a separate incident, with maximum policy limits applying separately to each one, according to the National Association of...
CA Supreme Court Reaffirms: 7 Years After Northridge, Insurers Can Be Sued
Nov 26 2001 // The California Supreme Court recently upheld the new law that insurance companies can be sued for their failure to cover damage that their adjusters mistakenly overlooked, even when the legal deadlines for such lawsuits...
New State Decisions Equal More Than Half of P/C Enacted Laws for 2001
Nov 20 2001 // New state laws concerning workers’ compensation, automobile insurance, financial and other regulatory requirements account for over half of the property/casualty-related insurance laws enacted by state legislatures...
Insurers Warn Companies of Cancellations
Nov 15 2001 // Insurers have started warning thousands of companies that policies will be canceled in 45 days, as Congress remains deadlocked over how to help the industry survive any huge claims resulting from terrorism, according to a...
