Latest Legislation Headlines

State Regulators Blast Federal Regulation Advocates Over AIG

Sep 26 2008 // State insurance commissioners have lashed out at members of Congress who are blaming state regulation for the problems of American International Group (AIG) and using the AIG crisis to bolster their advocacy for federal...

Judge Sides with Polluted Kansas Town Over Big Oil

Sep 25 2008 // After three days of deliberation in one of the longest jury trials ever held in Kansas, a jury in January left residents in a southeast city stunned. The panel had decided that the city of Neodesha was not entitled to...

Mich. Agents: AIG Rescue, Insurance Regulation Still Best Left to States

Sep 24 2008 // The following commentary on the push for federal regulation as a result of AIG and other financial institutions’ troubles was written by Robert PIerce, CEO, Michigan Association of Insurance Agents. Over the last few...

Retried New York Lawmaker Gets $140K Insurance Post

Sep 24 2008 // A former assemblyman from Queens has been hired to a newly created $140,000-a-year state job — in spite of the governor’s own orders putting a freeze on hiring. The Daily News reports that retired Assemblyman...

PCI Tells U.S. Trade Commission China Insurance Link Important

Sep 24 2008 // In testimony before the U.S. International Trade Commission, the Property Casualty Insurers Association of America (PCI) stressed the “importance of the U.S.-China insurance trade relationship.” The PCI also...

Paulson, Bernanke to Go Before Congress Today on Bailout

Sep 23 2008 // U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress to act swiftly on a proposed financial system bailout and warned of dire consequences if they delay. In prepared...

New York to Begin Regulating Part of Credit Default Swap Market

Sep 23 2008 // New York Governor David A. Paterson said that New York State will, beginning in January, regulate part of the credit default swap market which has to date been unregulated and has been a major contributor to the emerging...

U.S. Bailout Faces Delays as Goldman Gets $5B Boost from Buffet

Sep 23 2008 // Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial...

Wyoming Lawmakers Say Workers’ Comp Benefits Need Increase

Sep 22 2008 // Some Wyoming lawmakers say it’s time to increase many of the benefits given to injured workers under the state’s workers’ compensation program. The Joint Labor, Health and Social Services Committee...

Organizations Opposed to U.S. Insurance Tax Bill Issue Statement

Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...

CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations

Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...

Wyoming Lawmakers Discuss Changing Workers’ Comp System

Sep 22 2008 // Wyoming lawmakers are discussing several possible changes to the state’s workers’ compensation program amid complaints about the system. One proposal is to hire an ombudsman to help workers get any assistance...

California Commissioner Proposes Pay-As-You-Drive Regulations

Sep 22 2008 // California Insurance Commissioner Steve Poizner has proposed regulations that would make a green auto insurance option available for California consumers. If implemented, pay-as-you-drive auto insurance would allow...

Study Finds Economic Costs of Federal Cat Legislation Significant

Sep 22 2008 // Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar...

Sep 22 2008 // Austin, Texas-based insurance education provider, The National Alliance for Insurance Education & Research, selected Kathleen G. Speer as director of national business for the not-for-profit organization. Prior to...

Supreme Court on Small Business

Sep 22 2008 // There is no question that U.S. Supreme Court’s decisions impact small business. More than 40 percent of the court’s cases directly affect the business community, including employment, civil rights, insurance,...

California Workers’ Comp Division Strengthens Judges’ Ethics Rules

Sep 22 2008 // California’s Division of Workers’ Compensation has adopted revised ethics regulations governing workers’ compensation judges. According to the DWC, the rules and regulations “are designed to enforce...

Former SEC Head Donaldson Calls for Regulatory Overhaul

Sep 19 2008 // Former U.S. Securities and Exchange Commission Chairman William Donaldson said the United States needs a regulatory overhaul, similar to changes made to the system after the Great Depression. “It’s clear there...

Ark., La. Commissioners Reassure Policyholders After AIG Bailout

Sep 18 2008 // Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance...

Key Lawmaker Wants AIG Internal Documents on CEO, Board, Pay

Sep 18 2008 // Rep. Henry Waxman, chairman of the U.S. House Committee on Oversight and Government Reform, has asked the new chief executive officer at American International Group Inc. to give his committee internal documents related to...