Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Senate Approves Terrorism Insurance Backstop Extension
Dec 2 2007 // The Senate passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007, its version of legislation that will extend the federal terrorism insurance backstop. The current federal terrorism reinsurance...
Framing the Issues
Dec 2 2007 // PCI’s new CEO plans to ‘scan the horizon’ for insurer members facing terrorism insurance, regulation concerns, politics and more The Property Casualty Insurers Association of America (PCI) represents...
Effectively Navigating Environmental Liability Risk
Dec 2 2007 // Those involved in commercial real estate transactions are often confronted with environmental issues before and after the purchase of a site. Environmental issues can range from exposures associated with lead paint or...
Fla. Insurance Regulators Get Public Input on New Reinsurance Rules
Nov 29 2007 // Florida Insurance Regulators held a workshop Monday to seek public input on a draft rule that would implement new legislation which gives the insurance commissioner discretion in allowing unaccredited reinsurance companies...
Mass. Auto Insurers Pressed to Lower 2008 Rates Even More
Nov 28 2007 // Massachusetts Attorney General Martha Coakley is pressing auto insurers in the state to lower their 2008 rates, arguing that their initial filings last week included more than $200 million in extra profits and payments to...
S&P Says Saudi Insurance Market Able to Meet Regulatory Challenges
Nov 27 2007 // Standard & Poor’s Ratings Services has said that it considers the Saudi insurance market to possess the “inherent strengths,” which will allow it to “ride out” forthcoming regulatory...
Iowa Groups Ask Lawmakers to Consider Bicycle Liability Laws
Nov 26 2007 // Several groups are looking into the possibility of a bill that would protect counties from liability lawsuits related to annual bicycling events in the state. State and county officials met with bicycle clubs and event...
Hawaii County Looks to Stem Flood Hazards
Nov 26 2007 // Hawaii County has met a deadline to save Big Island residents’ federal flood insurance coverage, but at least one County Council member is not satisfied. The council voted unanimously this week to approve a bill that...
NCOIL Names New Officers
Nov 26 2007 // The National Conference of Insurance Legislators (NCOIL), elected the following officers for 2008: Sen. James Seward (NY) as President-Elect; Rep. Robert Damron (KY) as Vice President; Rep. George Keiser (ND) as Secretary;...
Legislators Adopt Model Law to Strengthen State Guaranty Funds
Nov 21 2007 // A new model law adopted by the National Conference of Insurance Legislators (NCOIL) will create a stronger safety net for property/casualty guaranty funds nationwide. According to legislators, the Post-Assessment Property...
Insurance Compact Adopts ’08 Budget
Nov 20 2007 // The Interstate Insurance Product Regulation Commission adopted a $1.4 million 2008 budget by a vote of its full membership in a public teleconference yesterday. Following a comprehensive comment period, including a public...
Audit: Wis. Never Implemented Health Care Program for Businesses
Nov 20 2007 // A program created by Wisconsin lawmakers in 1999 to reduce health care costs for small businesses was never implemented after running up nearly $500,000 in spending, according to an audit released last week. The Private...
IIF Insurance Committee To Be Chaired by Execs from AIG, ING, Zurich
Nov 20 2007 // The Institute of International Finance based in Washington, D.C., is establishing a Committee on International Insurance Regulatory Issues headed by industry leaders to support the development of global industry...
Florida Regulators Deny Allstate Rate Increases
Nov 19 2007 // The Florida Office of Insurance Regulation issued Notices of Intent to disapprove five rate filings submitted by Allstate Floridian Insurance Co., Allstate Floridian Indemnity Co., Encompass Floridian Insurance Co., and...
Brown Named Chief of Staff of Fla. Insurance Commission
Nov 19 2007 // Florida Insurance Commissioner Kevin McCarty promoted Audrey Brown to the position of chief of staff with the Office of Insurance Regulation effective Nov. 19. Brown has served as the deputy chief of staff since June,...
16 Alabama Federal Judges Step Aside from Scruggs Contempt Case
Nov 19 2007 // Every eligible federal judge in north Alabama has stepped aside from presiding in the criminal contempt case of Mississippi trial lawyer Richard Scruggs, who is accused of disobeying an order by failing to turn over...
Insurance Isn’t Dull, Says Kiln’s Creasy
Nov 19 2007 // Kiln’s Chief Executive Edward Creasy in his speech to the Insurance Institute of London (IIL) this week, sent a strong, and much needed message. As reported on the Lloyd’s web site (www.lloyds.com) , he said...
Judge OKs Dana Corp.’s $2M Settlement with Asbestos Victims
Nov 19 2007 // Dana Corp. has won court approval to pay $2 million to settle personal-injury claims from 7,500 people who say they were sickened by Dana products that contained asbestos. Judge Burton Lifland of the U.S. Bankruptcy Court...
N.Y Vows Principles-Based Regulation
Nov 18 2007 // New York Insurance Superintendent Eric Dinallo has released a draft regulation that he says would make the New York Insurance Department the first in the nation to establish principles-based regulation. The draft includes...
Good Things Going on in West Virginia
Nov 18 2007 // When talk turns to insurance in West Virginia, inevitably workers’ compensation comes up. No one knows that better than Insurance Commissioner Jane Cline. In a recent interview with Insurance Journal‘s Andrew...
