Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Texas Judge Extends Allstate Injunction
Oct 24 2005 // Travis County, Texas, District Judge Stephen Yelenosky has extended until Dec. 12 an injunction prohibiting Allstate Insurance Company from denying claims related to Hurricane Rita, the Austin American-Statesman...
Oxley “Totally Committed” to TRIA Reauthorization
Oct 24 2005 // Although Congressional attention has been diverted by fallout from Hurricanes Katrina and Rita, key members of the House are “totally committed” to the reauthorization of the Terrorism Risk Insurance Act...
Prettejohn Stresses Underwriting Discipline, Reforms in Keynote Speech to ACORD Forum
Oct 21 2005 // Lloyd’s CEO Nick Prettejohn, in what may be his last major address as Lloyd’s CEO (See IJ Web site Oct. 17 and 18), told those assembled for the ACORD Forum in London that underwriting discipline continues to...
New Shield Law Could Erase Current Lawsuits Against Gun Makers
Oct 21 2005 // President George W. Bush is expected to sign into law a bill to shield the gun industry from most lawsuits filed by victims of gun crimes. The House approved the bill by a bipartisan vote of 283 to 144, with 59 Democrats...
Calif. Court Rules Illegal Immigrants Can Get Workers’ Comp
Oct 20 2005 // Illegal immigrants injured on the job are entitled to workers’ compensation benefits despite their legal status, a California state appeals court ruled. The 2nd District Court of Appeal ruled in a case involving...
Poll: Investors See Financial Governance Regulation As Too Lenient
Oct 20 2005 // Despite the passing of the Sarbanes-Oxley legislation three years ago, more than half (55%) of U.S. investors think that the financial and accounting regulations governing publicly held companies are too lenient, according...
California Insurance Commissioner Announces Anti-Fraud Guidelines
Oct 20 2005 // California Insurance Commissioner John Garamendi has announced a new Special Investigative Unit (SIU) regulations for insurance carriers licensed to conduct business in California. The new regulations are a result of a...
Study Accuses FEMA of Lax Implementation of Flood Program Changes Passed in 2004
Oct 19 2005 // A government report has found that the Federal Emergency Management Agency, which administers the national flood insurance program, has not fully implemented reforms mandated by Congress in 2004, including improved...
Hampton Named Acting D.C. Insurance Commissioner to Succeed Mirel
Oct 18 2005 // Washington, D.C. Mayor Anthony Williams has appointed Thomas Hampton as the Acting Commissioner of D.C.’s Department of Insurance, Securities and Banking, succeeding Commissioner Lawrence Mirel, who left recently for...
N.Y. Supt. Mills Calls for Tougher No-Fault Auto Fraud Laws
Oct 18 2005 // New York Superintendent of Insurance Howard Mills joined with Assemblyman Jeff Brown (R-Manlius) to call on the New York State Assembly to pass tougher no-fault auto insurance fraud legislation. The two called for...
Gubernatorial Hopefuls in New York: Spitzer vs. Weld
Oct 17 2005 // Part 2: Spitzer Stresses Enforcement as Key to Fair Competition New York Attorney General Eliot Spitzer has made a name for himself exposing fraudulent and anti-competitive business practices in the securities, mutual fund...
WCIRB Survey Indicates California Workers’ Comp Reform is Working
Oct 17 2005 // State workers’ compensation claims and disability costs have dropped significantly since California’s workers’ compensation system was overhauled in 2003 and 2004, according to the Workers’...
Court Bans Using Discounts to Lure Longtime Auto Policy Customers
Oct 17 2005 // A California state appeals court has struck down a law that could have resulted in higher auto insurance rates for many low-income motorists and discouraged uninsured drivers from getting coverage. A three-judge panel of...
JUDGE THROWS OUT $700 MILLION JURY AWARD IN EXECUTIVE LIFE SUIT
Oct 17 2005 // A federal judge has thrown out a $700 million (euro586 million) award for punitive damages won by the state of California in a lawsuit stemming from the takeover of failed insurer Executive Life by French investors. U.S....
SCHWARZENEGGER SIGNS AUTO INSURANCE, SAFETY LEGISLATION
Oct 17 2005 // California Gov. Arnold Schwarzenegger has signed several bills dealing with automobile insurance and safety. SB 20 legislation will extend a low-cost auto insurance program through 2011. SB 150 requires insurance companies...
Gubernatorial Hopefuls in New York: Spitzer vs. Weld
Oct 17 2005 // New York Attorney General Eliot Spitzer has made a name for himself exposing fraudulent and anti-competitive business practices in the securities, mutual fund and insurance industries. Now he is running for governor in New...
News Briefs
Oct 17 2005 // MASSACHUSETTS All Signs Point Down: Massachusetts auto rates will be going down in 2006, although by how much is not yet known. Insurance Commissioner Julianne Bowler received her third recommendation, this one calling for...
DFS Spokesperson Outlines Fla. Agency Licensing Requirement Changes
Oct 17 2005 // Changes in Florida’s legislation during the spring session and new administrative changes requiring agency licensure or registration were described by Hazel Muhammad, bureau chief of Agent and Agen-cy Licensing with...
News Briefs
Oct 17 2005 // Arkansas Employment up in Ark. A recent report from the Federal Deposit Insurance Corp. showed that employment in Ar-kansas is at a high point-1.1734million-but warned that hurricane refugees could strain state...
Ethical Business Practices Essential to Success in Today’s Marketplace
Oct 17 2005 // Many insurance companies are discovering a basic truth. Integrity in business is more than just the right thing to do-it is critical to success in an increasingly complex and dynamic marketplace. When I look at where we...
