Latest Legislation Headlines

All the headlines from our Legislation Topic Page, ordered by recency.

State Farm of Florida’s Rate Request Questioned

Sep 5 2005 // Citing concern that insurance companies are using the 2004 hurricanes to unfairly raise rates, Florida’s Chief Financial Officer Tom Gallagher has called for an independent review of a rate increase on homeowners...

Do It Right the First Time: Surplus Lines Compliance

Sep 5 2005 // As a producer, keeping abreast of the surplus lines laws and regulations in your own state is often a difficult task. When one wanders across state borders, the challenge becomes even more daunting, sometimes requiring an...

Utah Supreme Court Rules State has No Holding in Workers Comp Fund

Sep 5 2005 // The Utah Supreme Court has agreed with a lower court that the state has no ownership in the Workers Compensation Fund other than as one of the 33,000 policyholders. The court on Tuesday upheld 3rd District Judge Timothy...

Disasters: Have They Become a Year-Round Phenomenon in California?

Sep 5 2005 // Are disasters in California happening more frequently or are communication technological advances today making us more aware of impending and hard hitting disasters? To really comprehend, we must examine how our state has...

Utah Supreme Court Rules State has No Holding in Workers Comp Fund

Sep 5 2005 // The Utah Supreme Court has agreed with a lower court that the state has no ownership in the Workers Compensation Fund other than as one of the 33,000 policyholders. The court on Tuesday upheld Third District Judge Timothy...

News Briefs

Sep 5 2005 // NAMIC ENCOURAGES RATE MODERNIZATION IN HAWAII: The National Association of Mutual Insurance Companies has told a Hawaii legislative committee that passing rate modernization laws would benefit state commerce and insurance...

State Farm Car Parts Reversal Gives Boost to Class Action Critics

Sep 5 2005 // Critics of national class action suits were among those cheering the loudest after the Illinois Supreme Court dismissed a $1.06 billion judgment against State Farm Insurance involving the use of generic auto repair...

NAPSLO Prepares for Record Attendance at Annual Conference

Sep 5 2005 // As the National Association of Professional Surplus Lines Offices gathers in San Francisco this month (Sept. 14-18) for its annual national conference, Insurance Journal recently caught up with the outgoing President...

Budget Office Figures Federal Asbestos Fund Too Small to Pay All Claims

Sep 5 2005 // The Congressional Budget Office has estimated that the federal $140 billion asbestos compensation fund being considered by Congress could be too small to cover claims over the next 50 years. The Fairness in Asbestos Injury...

Mass. Auto Insurance Rates: How Low Will They Go for Next Year?

Sep 5 2005 // As the wheel that sets 2006 auto insurance rates in Massachusetts begins spinning, there is no doubt it will be pointing at a negative number when it comes to rest in about two months. The real mystery is just how negative...

‘Sham Declinations’ Leave N.Y. Excess Broker Liable for Insurer’s Losses

Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...

NAPSLO Prepares for Record Attendance at Annual Conference

Sep 5 2005 // Leadership Says Surplus Lines Industry in Good Shape; Ready for Softer Market As the National Association of Professional Surplus Lines Offices gathers in San Francisco this month (Sept. 14-18) for its annual national...

Finding Solutions to the Industry’s Compliance Requirements

Sep 5 2005 // Technology Initiatives Can Help Carriers Enhance Regulation Strategies Compliance requirements for the insurance industry have changed radically in the last three years, including the The Patriot Act and Sarbanes Oxley...

CREDIT-BASED INSURANCE SCORING ESSENTIAL IN ALASKA:

Sep 5 2005 // In response to proposed regulations that would prohibit the use of credit-based insurance scoring in the renewal of insurance policy underwriting, NAMIC testified on Aug. 30 at an Alaska Division of Insurance hearing that...

Mass. Auto Insurance Rates: How Low Will They Go for Next Year?

Sep 5 2005 // As the wheel that sets 2006 auto insurance rates in Massachusetts begins spinning, there is no doubt it will be pointing at a negative number when it comes to rest in about two months. The real mystery is just how negative...

Budget Office Figures Federal Asbestos Fund Too Small to Pay All Claims

Sep 5 2005 // The Congressional Budget Office has estimated that the federal $140 billion asbestos compensation fund being considered by Congress could be too small to cover claims over the next 50 years. The Fairness in Asbestos Injury...

By Andrew G. Simpson

Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...

Fla. Lawmakers Voice Support for National CAT Fund

Sep 1 2005 // Two Florida lawmakers, Sen. Bill Nelson (D-Fla.) and U.S. Rep. Mark Foley (R-Fla.) have voiced their support for a national catastrophe fund that insurance companies would establish to provide extra funding in the event of...

R.I. Limits Teen Drivers’ Passengers

Aug 28 2005 // The Rhode Island Division of Motor Vehicles sent out letters this weekend to 11,000 new teenage drivers in Rhode Island alerting them to a new law that limits the number of underage passengers who can ride with them. There...

PCI Says: N.C. Legislature Passed Important Workers’ Comp Reforms

Aug 26 2005 // As North Carolina lawmakers prepare for adjournment after a long session, they can claim credit for passing important reforms to the state’s workers compensation system and identity theft protection legislation this...