Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Executive Life Judge Confirms Some $900M in Total Verdicts, Settlements
Dec 5 2005 // California Insurance Commissioner John Garamendi has praised a Los Angeles Federal judge’s ruling that the Artemis Co., reportedly a main conspirator in the fraudulent purchase of the Executive Life Insurance Co....
Regulation of Surplus Lines
Dec 4 2005 // Montana House Bill 631 (Signed into law on April 8, 2005) Regulation: This law relates to the revision of surplus lines insurance law and provides that a policy may not be placed with an unauthorized insurer unless the...
Industry Group Sees Sarbanes-Oxley as an Example of Hyper-Vigilance
Dec 4 2005 // The extension of Sarbanes-Oxley to non-public insurance companies is a good example of the era of regulatory hyper-vigilance in which it is difficult to know when an issue is of legitimate public policy concern or when it...
News Briefs
Dec 4 2005 // ALABAMA Alabama Expects 50,000 Claims More than 50,000 claims are expected in Alabama from hurricane damage, however, complete cost estimates won’t be available until this month. Ragan Ingram, Department of Insurance...
Citizens Board Agrees to Increase Florida Rates; OIR Approval Necessary
Dec 4 2005 // Home insurance rate increases as high as 31 percent for some properties, were approved Nov. 17 by the board of governors of Citizens Property Insurance Co., Florida’s insurer of last resort, and now have to go to the...
Executive Life Judge Confirms Some $900M in Total Verdicts, Settlements
Dec 4 2005 // California Insurance Commissioner John Garamendi has praised a Los Angeles Federal judge’s ruling that the Artemis Co., reportedly a main conspirator in the fraudulent purchase of the Executive Life Insurance Co....
News Briefs
Dec 4 2005 // New Online License Service Available for Wash. Agents and Brokers Insurance agents, brokers and other insurance professionals licensed to transact business in Washington can now print copies of their licenses from their...
Whitfield: Legislation Might Be Needed To Resolve Jockey Issues
Dec 4 2005 // Racetrack executives appeared before a House panel recently, arguing that congressional action is not necessary to solve industry problems, including a recent lapse in health insurance for jockeys that left the...
Conn. Proud of Its ‘Common Sense’ Compensation Disclosure Law
Dec 4 2005 // States in search of a “common sense” approach to insurance producer compensation disclosure might consider talking to Connecticut officials, that state’s commissioner recently proposed. “I’m...
News Briefs
Dec 4 2005 // CONNECTICUT Work-Related Deaths: The number of deaths in Connecticut due to work-related injuries increased by 50 percent last year, rising from 36 to 54, according to a state report. Connecticut is one of 27 states to...
Calif. Court Rules in Favor of Earthquake Policyholders
Dec 2 2005 // An insurance broker was a representative for the California Fair Plan Insurance Co. with regard to the Northridge earthquake revival statute, which gave policyholders another year to file lawsuits against their insurers in...
Preston, Kipper Named Deputy Commissioners at LDI
Dec 2 2005 // Louisiana Insurance Commissioner Robert Wooley announced that Clarissa A. Preston has been named deputy commissioner of the Louisiana Department of Insurance Office of Property and Casualty, and Scott Kipper is now deputy...
Consumer Advocates and Insurance Groups Urge Texans to Cash in on Competition
Dec 1 2005 // Consumer advocates and insurance groups announced the launch of a public education campaign to encourage Texans to shop around for insurance. The campaign marks the one-year anniversary on Dec. 1 of the implementation of...
Mont. Old Fund Insurance In Dire Need of Funds
Dec 1 2005 // A Montana-owned insurance agency for injured workers may need $69 million to pay all of its bills, according to a Montana State Fund executive. Outside insurance experts hired by the State Fund concluded earlier this year...
Labor Unions File Suit Against Missouri Workers’ Comp Law
Dec 1 2005 // More than 70 labor groups filed suit this week challenging the constitutionality of Missouri’s new workers’ compensation law, claiming it tilts toward employers so dramatically as to breach a social contract...
Countersignature Laws Now History in 50 States After S.D. Court Ruling
Nov 30 2005 // A federal district court judge in South Dakota ruled this week that the state’s countersignature law is unconstitutional. The ruling means that 50 states have taken action to eliminate the countersignature...
National Atlantic Obtains Regulatory Approval to Assume N.J. Agency Home Business from The Hartford
Nov 30 2005 // National Atlantic Holdings Corp., a provider of specialized property/casualty insurance products and related insurance services in New Jersey, announced that the replacement carrier transaction agreement between its...
Miss. Motorists Can Expect Auto Rate Hike After Jan. 1
Nov 28 2005 // Thousands of drivers in Mississippi can expect their auto insurance rates to increase dramatically after Jan. 1, when the minimum required coverage in the state will double, increasing costs for even those who have less...
PIA Names Eppstein as Director of State Affairs
Nov 25 2005 // The National Association of Professional Insurance Agents (PIA) has named David M. Eppstein Director of State Affairs. In his new position, he will be working with the National Association of Insurance Commissioners...
Florida’s CFO Gallagher Backs National Catastrophe Fund
Nov 25 2005 // A National Catastrophe Fund that would provide assistance for insurance claims in Florida has been endorsed by Tom Gallagher, Florida’s CFO. The CFO’s recommendations came after officials, including Florida...
