Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Best Comments on Impact of Dodd-Frank Act on Rating Agencies
Jul 23 2010 // The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act has specific provisions applicable to rating agencies. A comment on the Act’s potential impact from A.M. Best notes that the...
House Committee Passes Mine Safety Bill As Industry Protests
Jul 23 2010 // A House panel this week approved sweeping mine and workplace safety reforms prompted by the deadly explosion in April that killed 29 coal miners in West Virginia. The 30-17 vote came over the objections of the mine...
S&P Comments on Dodd-Frank Act’s Implications for Insurers
Jul 23 2010 // A comment from Standard & Poor’s Ratings Services notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act “seeks to expand regulation to address many aspects of the financial services...
Wis. Supreme Court Sides with Physicians in Med Mal Trust Fund Fight
Jul 21 2010 // The Wisconsin Supreme Court has decided that the state’s taking of $200 million from the Wisconsin’s Injured Patients and Families Compensation Fund (IPFCF) to help balance the general budget was...
President Signs Historic Financial Reform Legislation
Jul 21 2010 // President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial...
Judge Approves Goldman’s $500 Million Settlement with SEC
Jul 21 2010 // A federal judge has approved a $550 million settlement between Goldman Sachs and the U.S. Securities and Exchange Commission related to civil fraud allegations in a subprime mortgage product. U.S. District Court Judge...
Judge Rejects Insurers’ Bid to Nix Probe into Oxendine Donations
Jul 20 2010 // A Fulton County judge tossed an attempt by two insurance companies that sought to block an ethics investigation into contributions to Republican gubernatorial hopeful John Oxendine. Judge Kimberly Esmond Adams said in her...
Los Angeles Judge Dismisses Sterility Verdict Against Dole
Jul 19 2010 // A judge on Thursday dismissed a $2.3 million judgment against Dole Food Co. in a lawsuit by purported Nicaraguan banana workers, ruling that the company and the court were victims of a massive fraud. Los Angeles Superior...
Davis Honored with Insurance Council of Texas’ Raymond Mauk Award
Jul 16 2010 // Will Davis, a partner with the law firm of Thompson, Coe, Cousins and Irons LLC, has been presented the Raymond Mauk Leadership Award at the Insurance Council of Texas’ 18th Annual Mid-Year Property and Casualty...
How Financial Reform Package Affects Insurance, Surplus Lines
Jul 16 2010 // The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The...
Mining Firms Complain Democrats’ Safety Bill Too Harsh
Jul 15 2010 // The nation’s top mine safety official urged quick passage this week of a bill that would crack down on mines with safety problems, despite industry complaints that the legislation is too punitive. Mine Safety and...
Hearing Scheduled Today on HR 3424, Reinsurance Tax Bill
Jul 13 2010 // HR 3424 will be the subject of a hearing House by the House Representatives Ways and Means Committee today at 10:00 a.m. The Bill, sponsored by Rep. Richard E. Neal (D-MA), has been the subject of a lengthy debate [See IJ...
Illinois Set to Implement State-Based Licensing System for Producers
Jul 13 2010 // The Illinois Department of Insurance has announced that on July 26, 2010, it will implement the State-Based Systems (SBS) licensing system. SBS will allow producer licensing functions to be completed electronically through...
The Growing Risks of Social Media
Jul 12 2010 // Asked why he robbed banks, Willie Sutton famously replied: “Because that’s where the money is.” Something similar can be said to explain why companies are paying more attention to social media these days...
Michigan Supreme Court Lifts Ban on Use of Credit Scores by Insurers
Jul 9 2010 // The Michigan Supreme Court has ruled that the Granholm Administration exceeded its authority when it banned the use of credit scoring by insurance companies in the state. The decision means insurers in Michigan can...
How P&C Agents Can Benefit from Upcoming Health Insurance Boom
Jul 7 2010 // For independent insurance agents, upcoming healthcare reform could be an opportunity to gain a bigger share of the health insurance and benefits market, provided they can properly advise their customers about their...
Actuarially Sound Property Rates Remain Elusive Along Texas Coast
Jul 7 2010 // Insurance company interests have long complained that the state-backed Texas Windstorm Insurance Association charges rates that are not actuarially sound for the risks it insures, making it impossible for private insurers...
Indiana Man Seeks Tougher Rules for Mo-Ped Drivers
Jul 7 2010 // An Indiana man whose son was seriously hurt in a mo-ped accident is urging state lawmakers to crack down on use of the vehicles. Arthur Jewell said his son had lost his driver’s license for driving while intoxicated...
Some Question Campaign Run by Oklahoma Workers’ Comp Judge
Jul 7 2010 // The presiding judge of the Oklahoma Workers’ Compensation Court has created a furor by choosing to retain his post while running for a job as an Oklahoma County district judge. Some attorneys say Judge Kent Eldridge...
Judge Approves $712.5M Settlement Deal for 9/11 Responders
Jul 5 2010 // Some recounted their days at the smoldering ruins of the World Trade Center. Some fought back tears. Some complained that no amount of money would make them whole. Despite the mixed emotions, most of the responders on...
