Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
House Flood Insurance Reform Bill Wins Bipartisan Support
Apr 7 2011 // A House subcommittee yesterday approved a bipartisan bill to reauthorize and reform the nation’s flood insurance program. The 10 Republicans and eight Democrats on the Insurance, Housing and Community Opportunity...
Little Support for Marriage Alternative in Rhode Island
Apr 7 2011 // A proposal to extend some of the rights of marriage to same-sex couples and others who can’t legally marry, such as siblings, is winning little support amid Rhode Island’s debate over legalizing gay...
Wisconsin Passes Bill to Reduce Auto Liability Coverage Minimums
Apr 6 2011 // Insurers are praising the passage in Wisconsin of a bill that would reduce the mandatory minimum auto insurance liability limits in that state. The American Insurance Association (AIA) commended the Wisconsin State Senate...
Financial Consultant Bjelobaba Analyzes Changing UK Regulations
Apr 6 2011 // The UK’s Conservative government announced, even before it was elected, that it planned to reform the country’s financial regulatory system – for banks, investment providers and the insurance industry. On...
Connecticut Builders, Fire Officials Spar over Sprinkler Rule
Apr 5 2011 // With his Connecticut home-building business down more than 90 percent, the last thing Robert C. Fusari Sr. says he needs is a new rule telling him to spend thousands of dollars to install home sprinkler systems that...
U.S. Judge Dismisses Non-U.S. Car Buyers’ Claims Against Toyota
Apr 5 2011 // A U.S. judge said he would dismiss claims against Toyota Motor Corp. by non-U.S. car buyers who say their vehicles lost value because of manufacturing defects. Toyota has recalled 19 million vehicles globally since 2009...
Flood Insurance Reform Bill Due This Week
Apr 4 2011 // A key House subcommittee plans to mark up its final version of legislation to reauthorize and reform the federal flood insurance program this Wednesday. Rep. Judy Biggert, R-Ill., who chairs the Financial Services...
Florida Advances Commercial Insurance Rate Deregulation
Apr 4 2011 // A move to deregulate a number of commercial lines of property/casualty insurance is making quiet progress in Florida. The legislation, which has already passed the House by a unanimous vote, would exempt insurance pricing...
Technology to Prevent Bus Accidents Exists But Isn’t Implemented
Apr 4 2011 // The technology exists to prevent many bus crashes and to make it more likely passengers will survive those that do occur, but government regulators have failed to implement safety recommendations that in some case stretch...
Ark. Deputy Commissioner Named Outstanding CPA in Government
Apr 4 2011 // State Insurance Commissioner Jay Bradford announced that Mel Anderson, the deputy commissioner for Financial Regulation at the Arkansas Insurance Department, has been selected by the Arkansas Society of Certified Public...
Maryland Weighs Prohibition on Insurers’ Use of Credit Scores
Apr 4 2011 // Maryland lawmakers are weighing whether to prohibit insurers from using credit scores to rate auto insurance policies — a move insurers say is a bad idea. The economic matters committee of the House of Delegates recently...
Vermont Lawmakers Ask for Study on Medical Malpractice Claims
Apr 4 2011 // Vermont lawmakers may ask the Shumlin administration to produce recommendations for reforming the medical malpractice system in the state with an eye toward lowering health care costs. The issue of medical malpractice...
Government Ends Cargo Insurance Rule for Truckers
Apr 4 2011 // The federal government is no longer requiring that about 76,000 of the nation’s for-hire truckers carry cargo liability insurance. Over the objections of shippers and transportation brokers, the Federal Motor Carrier...
Declarations
Apr 4 2011 // Dangerous Dams “Failure of one of these dams could result in loss of life or significant property damage.” —Peter Richardson, senior vice president of the Boston Society for Civil Engineers, commenting on...
North Carolina Rethinks Rate Regulation
Apr 4 2011 // Frustrated by rising home insurance rates, some North Carolina residents want a greater role in the rate approval process and state lawmakers are looking to give it to them. The North Carolina Insurance Committee is...
Calif. Senators Introduce National Earthquake Legislation
Apr 4 2011 // U.S. Sens. Dianne Feinstein and Barbara Boxer, both D-Calif., introduced legislation to lower the cost of earthquake insurance for Californians and individuals who purchase coverage from a nonprofit, state-run...
New York Dilutes Plan to Merge Banking and Insurance Departments
Apr 4 2011 // The merger of New York state’s banking and insurance departments might not create the powerful agency first advertised, according to Governor Andrew Cuomo’s recent budget deal with legislative leaders. At first...
NRRA Compliance Checklist: Prepare Now for Surplus Line Tax Changes and Enjoy Your Summer Vacation
Apr 4 2011 // Editor’s Note: This is the first of a two-part article on compliance with the Nonadmitted and Reinsurance Reform Act. The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street...
Declarations
Apr 4 2011 // Moved Over a Line “This is going to be a capital event, as well as an earnings event. We’ve moved over a line now. Before we were exhausting the natural catastrophe budget. Now we are probably going to...
Florida Homeowners Insurers Seek ‘Flex-Rating’ Up to 15%
Apr 4 2011 // Florida lawmakers are considering giving homeowners insurers more flexibility to raise rates. The Florida Senate and Banking Insurance Committee recently approved a bill that would allow insurers to raise their rates up to...
