Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
S&P Examines Europe’s Insurers Exposure to ‘Credit Crunch’
Nov 6 2007 // Standard & Poor’s has published an “Industry Report Card” on Europe’s insurers, which examines their situation “in the aftermath of the subprime credit crunch,” the findings of an...
Florida Regulator Approves Citizens New Multi-Peril Program
Nov 6 2007 // The Florida Office of Insurance Regulation approved a new multi-peril commercial non-residential insurance program for Citizens Property Insurance Corp. The new multi-peril product provides up to $2.5 million in coverage....
N.Y. Insurance Department Advances First Principles-Based Regulation
Nov 5 2007 // New York Insurance Superintendent Eric Dinallo today 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...
Transitions … from judge to regulator, from regulated to competition
Nov 4 2007 // Massachusetts Insurance Commissioner Nonnie Burnes has taken on the minefield of private passenger auto insurance, overseeing a transition from a highly-regulated rating system to one under which insurance companies are to...
Editor’s Note: In agents’ hands
Nov 4 2007 // More members of Congress hail from backgrounds as state legislators than any other occupation. This means that the exposure of these former state-turned-federal lawmakers to insurance issues typically involved auto...
Rep. Frank: 120-Day extension for TRIA possible
Nov 4 2007 // The key House leader on insurance issues says he will push for a 120-day extension of the federal terrorism reinsurance program that expires at year’s end rather than simply accept the Senate bill that is narrower in...
Figures
Nov 4 2007 // $15.3 million Mich.-based North Pointe Holdings Corp. signed an agreement for the sale of its Home Pointe Insurance Co. subsidiary, which comprises North Pointe’s Florida homeowners and dwelling fire operations, to...
Editor’s Note: In agents’ hands
Nov 4 2007 // More members of Congress hail from backgrounds as state legislators than any other occupation. This means that the exposure of these former state-turned-federal lawmakers to insurance issues typically involved auto...
Calif. Approves AAA’s 6.5% Auto Rate Reduction
Nov 4 2007 // California Insurance Commissioner Steve Poizner along with officials from California State Automobile Association Inter-Insurance Bureau (CSAA-IIB, or AAA of Northern California) in Sacramento and San Francisco announced...
News Currents
Nov 4 2007 // Only 22 percent of in-house counsel said they expect to see the number of legal disputes their companies face increase over the next 12 months; a year ago, 33 percent said they were anticipating a rise in lawsuits...
States under cover
Nov 4 2007 // Natural catastrophes — and the affordability and availability of property insurance in disaster-prone areas — have been on center stage in coastal states from the Northeast to the Gulf Coast. This fall, the...
Under Pressure, NASA Vows to Reveal U.S. Aviation Safety Problems
Nov 2 2007 // NASA is abandoning its secrecy claims and promising to reveal results of an unprecedented federal aviation survey that found aircraft near collisions, runway interference and other safety problems occur far more often than...
Consumer Group Says Calif. Commissioner’s Aide Helped Insurers in Lawsuit
Nov 2 2007 // The Foundation for Taxpayer and Consumer Rights is claiming a former insurance industry lawyer, a senior counsel to California Insurance Commissioner Steve Poizner, covertly assisted insurance companies in a lawsuit they...
N.H. Lawmaker Seeks Ban on Texting While Driving
Oct 31 2007 // A New Hampshire lawmaker wants the Legislature to send drivers a clear message: stop sending text messages while driving! Nashua Democrat David Campbell has filed the paperwork for a bill to ban two-handed texting or...
Congressional Hearing Again Targets Regulatory Reform
Oct 31 2007 // No one argues the need to revamp the regulatory structure of the insurance industry, but just how to reform regulation remains the big question for legislators considering the issue. Some in the insurance industry support...
National Group Recommends Adoption of Rate Modernization Legislation
Oct 30 2007 // Kansas could become the ninth state to allow a modernized rating system for personal lines of insurance. A state task force studying rate modernization has issued a recommendation proposed by the National Association of...
Okla.’s Child Support Data Exchange Law Goes into Effect Nov. 1
Oct 30 2007 // The Oklahoma Insurance Department issued a reminder that a new state law compelling Child Support data exchange for workers’ compensation, personal injury and wrongful death claims has a fast-approaching Nov. 1...
House Leader: 120-Day Extension for Federal Terrorism Insurance Possible
Oct 29 2007 // A key House leader says he will push for a 120-day extension of the federal terrorism reinsurance program that expires at year’s end rather than simply accept the Senate bill that is narrower in scope than the House...
8 S.C. chief urges pre-set
Oct 27 2007 // hurricane damage formula Looking to minimize claims litigation 8 West Virginia lawmakers may reassert workers’ comp oversight But will they scare insurers from the state? 9 Florida brings back no-fault Lawmakers add...
W. Va. lawmakers may reassert workers’ comp oversight
Oct 27 2007 // West Virginia legislators learned recently that they have no one to blame but themselves for the loss of power over the rules that govern workers’ compensation claims and benefits. Lawmakers first ceded the...
