Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
U.S. Lawmakers to Create Broad New Financial Panel
Jan 3 2001 // The House Rules Committee has proposed establishing a new Committee on Financial Services, abolishing the Committee on Banking and shifting securities and insurance issues from the Commerce Committee to the new forum. The...
New York DOI Codifies Statutory Accounting Principles
Jan 2 2001 // New York Superintendent of Insurance Neil D. Levin announced the adoption of a new regulation implementing a codification of statutory accounting principles for insurers. The purpose of the codification is to enhance the...
Calif. Appeals Court Ruling Nullifies Prop. 103 Provisions
Jan 2 2001 // A California appeals court ruled Friday that auto insurers can calculate premiums based on where a customer lives, a ruling that could result in a California Supreme Court showdown. The decision from the 1st District Court...
Calif. Court Rules Legal Malpractice Suits Can Extend to Public Defenders
Dec 21 2000 // The California Supreme Court ruled on Dec. 18 that public defenders can face malpractice lawsuits, much the same as private defense lawyers. Public defenders, who represent the poor, do not have the same immunity to...
Minnesota Agents Draft Collective Bargaining Legislation
Dec 20 2000 // The board of directors of the Minnesota Independent Insurance Agents has drafted legislation for possible introduction in the state legislature this January that would permit agents to collectively bargain the terms and...
Australia May Welcome More Captives
Dec 13 2000 // Some new proposals put forth by the Australian insurance industry may mean increases in the number of captive insurers choosing to domicile there, and the return of companies that have gone offshore to Singapore, Bermuda...
Judge’s Dismissal of U.S. Lawsuits Conditioned on Holocaust Payments
Dec 12 2000 // U.S. Judge Michael Mukasey ordered a conditional dismissal of lawsuits brought by Holocaust survivors and their families against several German insurers, who have failed to pay claims from Nazi-era insurance policies. The...
Maryland Judge Rules on GAMHC Assets
Dec 11 2000 // Cole County Circuit Judge Thomas J. Brown issued an order setting rules on how to distribute $1.2 billion in proceeds from the sale of General American Mutual Holding Co.’s (GAMHC) assets to MetLife. As a mutual...
Fremont Downgraded, Under CDI’s Supervison
Dec 11 2000 // Fremont General Corp. and related entities are now under the increased regulatory oversight of the California Department of Insurance (CDI), and the three big rating organizations are not taking this as a good sign. A.M....
Commercial Dereg Bill Passes in D.C.
Dec 7 2000 // Legislation to reduce government regulation of commercial insurance in Washington, D.C. achieved final passage Tuesday through a unanimous vote of the District of Columbia Council. The Insurance Trade and Economic...
New York Completes PIN Network; Licensing, Filing, Reporting to Become More Efficient
Dec 6 2000 // New York Superintendent of Insurance Neil D. Levin announced yesterday that the New York DOI has recently completed all the requirements set forth by the State Regulation 2000 program by implementing the Producer...
Sebelius Elected NAIC President for 2001; Vaughan, Pickens Selected as Officers
Dec 5 2000 // Members of the National Association of Insurance Commissioners have elected regulators from Kansas, Iowa and Arkansas as the organization’s officers for 2001 during its Winter National Meeting in Boston. “We...
New Hampshire Considers Privacy Regulation Proposal
Dec 1 2000 // The New Hampshire Insurance Department has proposed financial services privacy regulation consistent with the National Association of Insurance Commissioners’ model privacy regulation. During a hearing earlier this...
Fremont General Receives Regulatory Approval of Alternative Reinsurance Transaction
Nov 30 2000 // Fremont General Corporation’s ongoing property and casualty insurance subsidiaries have entered into certain agreements with the California Department of Insurance which, among other things, will allow these...
BROKER FEE REGS TAKE EFFECT
Nov 27 2000 // The new CDI broker fee regulations went into effect on Nov. 23. The regulations require that agents use a Standard Broker Fee Disclosure Form and Standard Broker Fee Agreement when a broker fee is charged on personal lines...
Ohio Legislature Passes Bill to Regulate Health Care Organizations
Nov 21 2000 // The Ohio House of Representatives approved legislation last week that would provide the Ohio Department of Insurance with an additional tool to regulate the financial solvency of Health Insuring Corporations and Health...
Minnesota Agents Voice Concern Over Credit Ratings
Nov 21 2000 // A growing number of insurance companies operating in Minnesota are using credit-rating scores to establish premiums for car drivers and homeowners. This means that in certain situations people with poor credit histories...
AIA Testifies at NAIC Speed to Market Meeting
Nov 21 2000 // The American Insurance Association testified on Nov. 20 at the National Association of Insurance Commissioners (NAIC) Speed to Market Working Group meeting in Kansas City, stressing the need for a market-based approach to...
Calif. Broker Fee Regulations Set to Take Effect
Nov 16 2000 // The new California Department of Insurance broker fee regulations will go into effect on Nov. 23. The regulations require that agents use a Standard Broker Fee Disclosure Form and Standard Broker Fee Agreement when a...
D.C. Commercial Dereg Bill Approved by Council
Nov 10 2000 // Legislation to reduce government regulation of commercial insurance in D.C. cleared another legislative hurdle yesterday when the District of Columbia Council voted unanimously to approve the “Insurance Trade and...
