Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Losing Sleep Over Privacy
Jun 25 2001 // In the last issue, I wrote about getting a grip on GLBA. As we creep closer to the July 1 deadline, I think the subject needs some more clarification. Last week, a reader called me in a panic wondering if the requirements...
$7M VERDICT REACHED
Jun 25 2001 // A jury awarded almost $7,000,000 in earthquake repair costs and bad faith damages on June 15 to a Culver City condominium homeowners association in a lawsuit against Scottsdale Insurance Company. According to the Los...
AIA Testifies: Need for Insurance Regulatory Reform Is Urgent
Jun 22 2001 // Appearing on behalf of the American Insurance Association (AIA) before the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, Robert Gowdy, President and CEO of...
New Lawsuit Against Crédit Lyonnais – French Gov’t. Responds
Jun 21 2001 // California Attorney General Bill Lockyer’s lawsuit against Crédit Lyonnais (CL) and a number of other defendants, filed Tuesday in San Francisco, is the latest legal action involving the French bank and its...
NAII, Alliance to Testify at Congressional Hearing on Regulatory Modernization
Jun 21 2001 // On Thursday, June 21, 2001, National Association of Independent Insurers (NAII) Vice President and Assistant General Counsel Bob Zeman will testify before the U.S. House Committee on Financial Services Subcommittee on...
Colo. Insurers Win Some, Lose Some with Recent DOI Decisions
Jun 20 2001 // According to the National Association of Independent Insurers (NAII), at the urging of the association and its member companies, the Colorado Division of Insurance agreed to withdraw two bulletins that rendered meaningless...
$7M Jury Verdict Reached in Northridge Case
Jun 19 2001 // A jury awarded almost $7,000,000 in earthquake repair costs and bad faith damages on June 15 to a Culver City condominium homeowners association in a lawsuit against Scottsdale Insurance Company, according to Brian S....
Ohio First to Adopt E-Commerce Bulletin
Jun 18 2001 // Ohio has become the first state to adopt the NAIC Electronic Commerce Bulletin. Ohio Department of Insurance Director Lee Covington made the announcement at the Electronic Commerce Symposium hosted by the Electronic...
State Bills Highlight Concern About Insurance Fraud, Anti-Fraud Group Says
Jun 18 2001 // Anti-fraud reforms recently passed in Tennessee, Florida and Nevada are a signal that insurance fraud is becoming a top-tier crime around the country, according to the Coalition Against Insurance Fraud, a national...
Matters of Evolution; Revolution
Jun 18 2001 // With the possible exception of Charles Darwin, matters of evolution generally take a back seat on the news bus to matters of revolution. So it has been with the 23 bills affecting the insurance industry that struggled...
House Approves Development of National Antifraud Network
Jun 15 2001 // A computer network that would link together the existing databases of U.S. state and federal banking, securities and insurance regulators in an effort to combat financial fraud could soon be a reality, much to the pleasure...
NAMIC Details Efforts to Modernize State Regulation at NAIC Meeting
Jun 12 2001 // The National Association of Mutual Insurance Companies (NAMIC) did much more than detail its actions to achieve regulatory modernization at the state level to insurance regulators meeting in New Orleans last...
Nevada Legislature Wraps Up 2001 Session on Positive Note
Jun 12 2001 // The Nevada State Legislature adjourned last week following several important victories for the insurance industry, according to lobbying groups. Passage of measures benefiting insurers and the defeat of several trial...
IIAA Hails Enactment of ‘RELIEF’ Tax Bill
Jun 11 2001 // Millions of small businesses stand to benefit from the just-enacted Restoring Earnings To Lift Individuals and Empower Families (RELIEF) Act, which institutes changes that will lower tax bills and help perpetuate...
California State Assembly Approves Premium Tax Bill
Jun 11 2001 // Legislation sponsored by the American Insurance Association (AIA) moved one step closer to becoming law when the California State Assembly voted Thursday to approve a measure continuing the 20-percent premium tax credit...
GLBA in a Nutshell:
Jun 11 2001 // What: The Gramm-Leach-Bliley Act (GLBA) regulations create unprecedented new obligations for insurance agents to adopt comprehensive privacy policies for handling customers’ personal information. When: Among other...
Financial Services Integration: A Question of Privacy
Jun 11 2001 // Mailboxes throughout the West have been rapidly filling with literature outlining the “Privacy Policy” of virtually every organization that has ever taken a credit application. As the Gramm-Leach-Bliley Act...
NAMIC Survey Shows Most States Will Not Meet GLBA Deadline
Jun 11 2001 // Less than half of the states are likely to have their own privacy rules in place by the July 1 deadline imposed by the Gramm-Leach-Bliley Act (GLBA), a survey conducted by the National Association of Mutual Insurance...
Oregon Supreme Court Quashes Exclusive Workers’ Comp Remedy
Jun 11 2001 // In the multi-decade card game that is the Oregon workers’ compensation system, the state Supreme Court trumped the Legislature (and employers) by issuing a unanimous decision that erodes the exclusive remedy...
NAIC Commences Summer Meeting in New Orleans
Jun 8 2001 // The National Association of Insurance Commissioners (NAIC) will hold its Summer National Meeting in New Orleans, La., this weekend. After considerable deliberation, the Meetings Coordination Task Force decided against...
