Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Natural Disaster Reform Legislation Reaches a Turning Point
Jun 12 2000 // Nobody likes to lose their shirt, least of all insurers. So it’s no surprise that, following the huge losses caused by natural disasters in the past few years, insurers have bolted from the homeowners market, leaving...
Penn. Judge Upholds ‘Stonewalling’ Charge
Jun 2 2000 // A Pennsylvania state judge has ruled that Insurance Commissioner M. Diane Koken must stop “stonewalling” American Re-Insurance Co.’s application for regulatory approval to buy surplus lines insurer United...
Vermont Ranked Third in World for Domiciled Captives
May 30 2000 // A.M. Best’s Captive Directory 2000 Edition now ranks Vermont third in the world, surpassing Guernsey for captives domiciled behind Bermuda and the Cayman Islands. Vermont is home to more than twice as many captive...
COURT RULES FOR ACE
May 29 2000 // The Superior Court of the State of California recently made a ruling favorable to ACE Ltd. in a lawsuit brought about by subsidiaries of AIG and Chubb. The lawsuit focused on a restructuring plan implemented in 1996 by INA...
Congress Approves $7.1 Billion Farm Bailout
May 26 2000 // A $7.1 billion bailout for American farmers hurt by depressed crop prices was approved Thursday by Congress. If approved by President Clinton, as is expected, the bill would make federal crop insurance cheaper and easier...
Lloyd’s To Adopt New Standards For Brokers – Opening London Market
May 25 2000 // Last October Lloyd’s produced a working document entitled “Developing Broker Relationships,” which proposed sweeping changes in the accreditation and regulation of Lloyd’s brokers. Now the results...
New Regulation and Compliance Designation Offered
May 23 2000 // The Insurance Institute of America has developed a new designation for people who need to understand the regulatory environment and the effect regulation has on the business of insurance. The Associate in Regulation and...
Court Rules in Favor of ACE in Calif. Lawsuit
May 23 2000 // The Superior Court of the State of California recently made a ruling favorable to ACE Ltd. in a lawsuit brought against that company by subsidiaries of AIG and Chubb. The lawsuit focused on a restructuring plan implemented...
IIAA Hails Appellate Court’s Crop Insurance Ruling
May 18 2000 // In a significant victory for independent agents, a federal appellate court yesterday unanimously affirmed a lower-court decision that overturned an Office of the Comptroller of the Currency (OCC) ruling permitting national...
E-commerce, New Auto Policy Rules Top Arizona’s 2000 Legislative Session
May 16 2000 // Highlights of the otherwise quiet 2000 legislative session for insurers in Arizona included the passage of House Bill 2069 and Senate Bill 1130–two laws that will help further online insurance sales and modify auto...
Data Mining vs. Privacy
May 15 2000 // Trolling for new business leads has been the bane of insurance agents for decades. Electronic data mining has eased the pain, but there are many gray areas as the call for consumer privacy grows louder. It was a bet with a...
Insurance Regulatory Information Network Changes to National Insurance Producer Registry
May 12 2000 // The Insurance Regulatory Information Network has changed its name to the National Insurance Producer Registry to reflect the group’s accelerated effort to establish national producer licensing for the insurance...
PIA National Board Adopts Policy on State Oversight
May 10 2000 // The National Association of Professional Insurance Agents has adopted a policy position favoring a newly evolved system of oversight and guiding PIA participation in the insurance regulatory reform efforts of the National...
State Legislatures Key To Preserving State Insurance
May 8 2000 // State legislators hold the key to preserving state insurance regulation, an official of the National Association of Mutual Insurance Companies (NAMIC) told an audience at the spring meeting of the National Conference of...
Clinton Proposes New Privacy Protections
May 2 2000 // President Clinton over the weekend proposed new privacy legislation allowing consumers to stop financial companies from sharing information about them. Clinton made the comments during a commencement address at Eastern...
What Are You Anyway’ Agent/Broker Distinctions Can Get Muddled
May 1 2000 // Recent legislation has industry circles wrestling over the ongoing question: What makes an agent an agent and a broker a broker? An agent is traditionally defined as a licensed individual or organization authorized to sell...
Government Endorses Fewer Hours for Truckers
Apr 26 2000 // The Department of Transportation has proposed new rest requirements for truck drivers in an effort to reduce the number of accidents caused by exhaustion. The American Trucking Association opposes the new rules, saying...
IIAA, NAIFA Outline Concerns with E-Signature Legislation
Apr 26 2000 // A letter was recently sent to House Commerce Committee Chairman Tom Bliley (R-Va.) outlining IIAA’s and NAIFA’s concerns with e-signature legislation pending before a House-Senate conference committee. Bliley...
Colorado Deregulation Bill Approved
Apr 26 2000 // Colorado Gov. Bill Ownes has signed a bill changing insurer rate filings for workers’ comp, medical malpractice written by the joint underwriting association, and credit insurance from prior approval to file and use....
U.S. Judge May Soon Approve Swiss Holocaust Pact
Apr 11 2000 // A U.S. District judge is expected to approve a $1.25 billion accord reached more than two years ago by Swiss banks to settle claims of that they never returned valuables deposited by Holocaust survivors prior to World War...
