Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Florida Attracts 3 More Reinsurers Under Lower Collateral Rule
Nov 9 2010 // Florida insurance officials have agreed that three Bermuda-based reinsurers can participate in Florida’s insurance marketplace without having to post millions of dollars in extra collateral. The Office of Insurance...
Ireland Unveils New, Tougher Regulations for Banks and Insurers
Nov 9 2010 // Ireland unveiled a new corporate governance code for banks and insurers on Monday to bring ‘fresh blood’ into boardrooms and prevent a repeat of the excessive risk-taking that precipitated the country’s...
California Approves Amendments to Privacy Regulations
Nov 8 2010 // In what’s being called “a major victory for insurance agents and brokers,” the California Office of Administrative Law has approved Department of Insurance plans to repeal certain portions of its privacy...
Judge Dismisses ‘Mommy Track’ Lawsuit Against Goldman Sachs
Nov 5 2010 // Goldman Sachs Group Inc. no longer faces a bias lawsuit by a former vice president who said the Wall Street bank put her on a “mommy track” and fired her while she was on maternity leave. Judge Robert Patterson...
ABI Comments on Report on Lawyers Professional Liability Coverage
Nov 2 2010 // The Association of British Insurers has welcomed the publication of an independent report on the need for changes to the solicitors’ (attorneys’*) professional indemnity insurance market. The ABI noted that the...
Reducing E&O Exposures: What Agents Need to Know
Nov 1 2010 // Data Breach, Privacy Claims and Certificates of Insurance Costly Exposures for Agents Insurance agents who fail to keep up with ever-changing legislation, regulations, policies and forms are opening themselves up to costly...
Biglari Holdings Again Seeks to Take Over Fremont Michigan InsuraCorp
Nov 1 2010 // Texas-based Biglari Holdings, which runs Steak n Shake and other restaurants, is making another bid for the Michigan property/casualty insurer, Fremont Michigan InsuraCorp. Inc. The San Antonio holding company has proposed...
Casino’s Barge Not Liable for Mississippi Marina’s Damage During Katrina
Nov 1 2010 // The owners of a Biloxi marina damaged by a casino-owned barge that came loose during Hurricane Katrina are considering an appeal of a Mississippi court ruling that the casino is not liable for the destruction. The state...
Gulf Region Property Markets Still Troubled 5 Years After Katrina
Nov 1 2010 // Five years after Hurricane Katrina devastated the Gulf Coast, neither the federal government nor the private sector is any closer to developing effective solutions to the problems facing flood and windstorm insurance,...
Remember Orlando
Nov 1 2010 // What do you get when you corral Florida property insurance executives and policymakers in a room for an afternoon away from the TV cameras and pundits? The answer is: consensus. Consensus on how to move the Florida...
Where Georgia’s Insurance Commissioner Candidates Stand
Nov 1 2010 // Hudgens, Squires and Bruce on Credit Scoring, Tort Reform, Role of Independent Agents and State Regulation Georgia voters going to the polls on Nov. 2 will have a real choice when it comes to electing the state’s...
Reducing E&O Exposures: What Agents Need to Know
Nov 1 2010 // Data Breach, Privacy Claims and Certificates of Insurance Costly Exposures for Agents Insurance agents who fail to keep up with ever-changing legislation, regulations, policies and forms are opening themselves up to costly...
Calif. Iranian Investment Regs Ruled Improper
Nov 1 2010 // The California Office of Administrative Law has ruled that state Insurance Commissioner Steve Poizner’s Iranian investment regulations were improper. Earlier this year, the California Department of Insurance...
Strength and Power
Nov 1 2010 // San Francisco’s ISU Group Brings Together Creative Minds to Adapt, Survive and Succeed in Today’s Market In this age of Great Global Recession, collapsing corporations and profligate governments alike have...
Risk Retention Groups Call for Changes to Federal Liability Act
Nov 1 2010 // RRGs Seek Dispute Mechanism, Ability to Write Commercial Property, Uniform Regulation The Liability Risk Retention Act of 1986 (LRRA) was enacted to help solve the crisis of the 1980s created by the unavailability of...
Congressional Gridlock on Financial Reforms Expected After Elections
Oct 29 2010 // If Republicans make big gains in U.S. Congressional elections on Tuesday, as expected, Wall Street and big banks will have sweet, but incomplete, revenge on Democrats who drove through sweeping financial reforms against...
Judge Schedules Motions in State Farm Whistleblower Suit in MIssissippi
Oct 29 2010 // A federal whistleblower lawsuit filed against State Farm Fire & Casualty Co. will not go to trial Dec. 1 as scheduled. Instead, U.S. District Court Judge L.T. Senter Jr. has decided to hold a status conference on the...
Global Regulators Call for Curbs on Credit Rating Agencies
Oct 28 2010 // Global regulators called on national authorities on Wednesday to curb the role of credit rating agencies in the financial system, challenging the value of an industry widely criticized in recent years. The Financial...
New IFRS Standards, Solvency II Pose a ‘Double Hurdle’ Says Willis Re
Oct 27 2010 // Two reports from Willis Re analyze the impact the insurance industry faces from the “double hurdles” of Solvency II and the new International Financial Reporting Standard (IFRS) due in 2013.” They explore...
Texas Lawmaker Presses on with TWIA Settlement Information Request
Oct 27 2010 // Texas State Rep. Larry Taylor (R-Friendswood) has filed a mandamus petition in the 1st Court of Appeals in Houston seeking relief from a temporary stay of his request for information concerning a $189 million settlement...
