Latest Legislation Headlines

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

Garamendi Drops Workers’ Comp Advisory Pure Premium Rate 14.9 Percent

Nov 7 2003 // In an effort to provide relief to skyrocketing workers’ compensation premiums in California, Insurance Commissioner John Garamendi lowered the advisory pure premium rate by 14.9 percent, a shift that would return...

Pickens Promotes NAIC’s Modernization Plan in Congress

Nov 7 2003 // Arkansas Insurance Commissioner Mike Pickens told members of the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises that regulating the business of insurance is a function of the states,...

States Can Reportedly Achieve Competitive Markets; Federal Push Should Motivate State Action

Nov 6 2003 // Congress’ interest in insurance regulation should reportedly motivate state policymakers to act to make the insurance marketplace more competitive, according to a property/casualty trade association. NAMIC, the...

U.S., Foreign Trade Groups Ask IASB to Revise Proposed Insurance Guidance

Nov 6 2003 // With the aim of reportedly aiding in the development of an international accounting standard for insurers, the National Association of Independent Insurers (NAII) and six other major insurance trade associations have asked...

N.Y.’s Sen. Hannon Tells Congressional Committee States Should Regulate Insurance

Nov 6 2003 // New York State Senator Kemp Hannon minced no words in his testimony today before the U.S. House Financial Services’ Subcommittee on Capital Markets Insurance and Government Sponsored Enterprises. “For more than...

ACORD to Provide N.J. Auto ID Cards

Nov 6 2003 // The Association for Cooperative Operations Research and Development (ACORD) announced that it will soon be providing temporary as well as permanent auto ID cards in New Jersey, as part of a major change in the...

Alliance Recommends NAIC Return Some Fees to Companies

Nov 5 2003 // The Alliance of American Insurers this week urged the National Association of Insurance Commissioners (NAIC) to show they are serious about modernizing state regulation by reducing the monies they are collecting from...

U.K. Gov’t. Launches Review of FSA Law, ABI Approves

Nov 5 2003 // The U.K.’s Treasury Department will begin an investigation of the Financial Services and Markets Act, which created the Financial Services Authority as the sole regulatory and enforcement agency for financial...

Corporate Governance, Asbestos Included Topics at 15th Annual P/C Executive Conference

Nov 3 2003 // Corporate governance, the future of asbestos legislation, and building capital strength will be among the topics discussed this month at the 2003 annual Property/Casualty Executive Conference, as announced by conference...

U.S. Marine Insurers Respond to Post-9/11 World of Domestic Security Rules and Regulations

Nov 3 2003 // U.S. ocean marine insurers need to work in partnership with government and all components of the maritime trade in order to meet the challenges of operating in the post-9/11 environment, according to David French,...

AFG’s 3Q Earnings Down 14% From Year Earlier

Nov 3 2003 // Cincinnati-based insurer American Financial Group (AFG) reported net earnings for the 2003 third quarter of $41.6 million, or 59 cents per share. These results include an after-tax charge of $23.1 million, or 33 cents per...

Do Not Call Legislation: Are You in Compliance’

Nov 3 2003 // In this ever-changing world of privacy regulation and legislation, many in the insurance industry are left wondering, ‘Where do I fit in?’ There are a number of insurance agencies that use telemarketing to...

The Garamendi Plan: Workers’ Compensation Reform Phase II

Nov 3 2003 // California Insurance Commissioner John Garamendi outlined the second phase of his workers’ compensation reform plan Oct. 21. The reform legislation that he helped shape during the first phase of this effort is...

NAII’s Annual Meeting Features Celebrity Speakers, Wheeling and Dealing

Nov 3 2003 // Where do you go to see a best-selling business author, a folksy economist, wisecracking political pundits, a college football star turned ex-Congressman and a bona fide American military hero? The National Association of...

Old American Gets New Life Under SB 14

Nov 3 2003 // Since 1946, Dallas-based Old American County Mutual Fire Insurance Co. has stayed true to a simple business philosophy: Provide reasonably priced insurance on a reasonable payment schedule for difficult risks. Much has...

Wooley, Kyle Battle for Louisiana’s Top Insurance Job

Nov 3 2003 // And then there were two. That is the scenario for this month’s runoff election (Nov. 15) in the race to be the next insurance commissioner in Louisiana. The Oct. 4 primaries brought the field of candidates down to...

NAII’s Annual Meeting Features Celebrity Speakers, Wheeling and Dealing

Nov 3 2003 // Where do you go to see a best-selling business author, a folksy economist, wisecracking political pundits, a college football star turned ex-Congressman and a bona fide American military hero? The National Association of...

Europe’s Banks and Insurers Appeal for Regulatory Harmonization

Oct 29 2003 // The European Financial Services Round Table (EFR), has prepared a report titled “Harmonization of Regulation and Supervision of the European Financial Sector,” calling for increased harmonization on a European...

Navigators Pro Offers New Lawyers’ Professional Liability Policy

Oct 28 2003 // Navigators Pro, a division of Navigators Management Company, a subsidiary of The Navigators Group, announced the introduction of “LPL Magistrate(SM) its Lawyers’ Professional Liability Policy.” The...

PIANY Welcomes New Producer Licensing Law

Oct 27 2003 // After announcing plans to inform its members how to implement NY’s new Producer Licensing Act, (See IJ Website Oct. 24) the Professional Insurance Agents of New York State Inc. has issued a bulletin praising the...