Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Swiss Re Sees ‘Severe Recession;’ Insurers Should Preserve Capital
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
NAIC to Examine Proposal to Modify Reinsurance Collateral Requirements
Dec 10 2008 // The National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernizes U.S. state-based regulation of reinsurance. “This proposal sets...
Kansas Insurance Regulator Honored with Dineen National Award
Dec 10 2008 // The National Association of Insurance Commissioners (NAIC) honored a Kansas Insurance Department official with a national award at the NAIC’s winter meeting this month. Larry Bruning, chief actuary at department, was...
Florida Insurance Office Earns Accreditation Renewal
Dec 9 2008 // The Florida Office of Insurance Regulation has been recognized at the National Association of Insurance Commissioners (NAIC) Winter National Meeting for renewal of its Financial Regulation Standards accreditation. The...
Illinois, North Dakota Join Regulator Sponsored State Based Systems
Dec 8 2008 // The National Association of Insurance Commissioners (NAIC) recently announced that two state departments — the Illinois Division of Insurance within the Department of Financial and Professional Regulation and the...
Ohio Lawmakers Continue Workers’ Comp Rating System Dispute
Dec 5 2008 // GOP lawmakers say want to preserve a system used by the state to set job-injury insurance rates. A Cuyahoga County judge earlier this month ordered the Ohio Bureau of Workers’ Compensation to create by July a new and...
Maryland Insurance Department Hosts Regulatory Interns from China
Dec 5 2008 // The Maryland Insurance Administration is hosting of two international interns from China through the National Association of Insurance Commissioner (NAIC)’s International Internship Program. From the China Insurance...
Marsh Warns EU Companies of E&O Risks from Chemical Regulations
Dec 5 2008 // Marsh’s London office has issued a warning that companies that use chemical substances in the European Union (EU) could risk insurance implications “associated with their failure to adhere to the EU’s...
Arkansas Lawmaker: Ban Use of Cell Phones on Roads
Dec 5 2008 // Making a call or sending text messages with a hand-held cell phone while behind the wheel would be a crime in Arkansas under a legislator’s proposal. Rep. Ray Kidd, D-Jonesboro, filed a bill Dec. 3 prohibiting the...
Officials: Texas Should Have Storm Recovery Plans
Dec 5 2008 // The future of the state’s oldest medical school – hard hit by Hurricane Ike – and whether Texas should fund recovery programs to complement federal assistance were two of the highlights of a legislative...
Financial and Housing Crises, Soft Market to Challenge Insurers in 2009
Dec 4 2008 // The financial and housing crises, along with a prolonged soft market, are converging to create a highly challenging environment for the U.S. insurance industry in 2009, says an industry think tank. These factors will force...
Oklahoma Lawmaker to Renew Fight for Disaster Funding
Dec 4 2008 // Oklahoma State Rep. Joe Dorman plans to renew his fight to ensure the state funds disaster recovery efforts this year and in the future, the Oklahoma House of Representatives reported. Dorman said he will file legislation...
Insurers Urge Surcharges, Reforms to Fix North Carolina Beach Plan
Dec 3 2008 // Property/casualty insurers are urging North Carolina officials to impose surcharges on policies in the state’s residual market property insurer, the Beach Plan, and take other financing and mitigation steps to...
New York and French Regulators Sign Cooperation Agreement
Dec 3 2008 // The New York State Insurance Department has signed an agreement with its counterpart in France that calls for increased cooperation and consultation between the two regulatory bodies. The agreement is similar to agreements...
West Virginia Mulls Switch to ‘Nonpartisan’ Judge Elections
Dec 2 2008 // West Virginia Gov. Joe Manchin may ask the Legislature next year to end West Virginia’s practice of electing its judiciary along partisan political lines, at least for the state’s circuit court judges. Manchin...
Regulator-Elect
Nov 30 2008 // It’s a select community: only 11 state insurance commissioners are elected rather than appointed. Wayne Goodwin is now one of the 11. He won the Nov. 4 election to be North Carolina’s regulator, succeeding Jim...
What the 2008 Election Means for Independent Agents
Nov 30 2008 // With incoming President-elect Barack Obama and major increases in the U.S. House of Representatives and the Senate, the Democrats will now control both chambers of Congress and the White House. The changing of the...
What the 2008 Election Means for Independent Agents
Nov 30 2008 // With incoming President-elect Barack Obama and major increases in the U.S. House of Representatives and the Senate, the Democrats will now control both chambers of Congress and the White House. The changing of the...
Florida Workers’ Compensation Insurers Seek 8.9% Rate Hike Due to Court Ruling
Nov 30 2008 // A Florida Supreme Court ruling has resulted in a request to raise workers compensation rates by 8.9 percent. The National Council on Compensation Insurance filed the request, citing last month’s ruling in which...
A Good Win in North Carolina for Experience
Nov 30 2008 // New Chief Plans a Blog, Statewide Agent Meetings and a Solution for Coastal Property Owners and Insurers On Nov. 4, Democrat Wayne Goodwin won election as North Carolina Insurance Commissioner with 52 percent of the vote,...
