Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Texas Supreme Court Rules Against Diminished Value
Oct 24 2003 // In overturning a lower court ruling, the Texas Supreme Court has ruled that insurance contracts do not require an insurer to pay a policyholder for the vehicle’s so-called diminished value. In the case of American...
Insurers Raise Concerns About Excessive Growth of the NAIC Surplus
Oct 24 2003 // Two major property/casualty trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners’ (NAIC) proposed 2004 budget. For the three-year period...
NAMIC Says Federal Regulation is Wrong Answer at the Wrong Time
Oct 23 2003 // While insurance regulation reforms are needed, federal regulation of insurance is the wrong approach, according to a major property/casualty trade association. The National Association of Mutual Insurance Companies...
IIABA Tells Senate Panel That State Regulation Should Be Reformed, Not Abolished
Oct 23 2003 // There is a vital role for Congress to play in reforming the state insurance regulatory system, but such an effort need not replace or duplicate at the federal level what is already in place at the state level, the...
Alliance Encouraged by Closeness of Vote on Class Action Legislation
Oct 23 2003 // The efforts of the business community, insurers, and concerned citizens are reportedly beginning to show results as evidenced by the close procedural vote that occurred on class action reform legislation Wednesday in the...
Ariz. DOI Establishes Rate Limits for Credit Property and Credit Unemployment Insurance
Oct 23 2003 // On Oct. 15, 2003, Director of Insurance, Charles Cohen, issued an order that establishes loss ratio standards and rate limits for credit property and credit unemployment insurance products offered to Arizona...
N.Y. Court of Appeal Rejects Reg 68 Challenge, Praised as Victory Against Fraud
Oct 22 2003 // The New York Court of Appeals has unanimously upheld the state Insurance Department’s right to implement the reforms contained in Regulation 68, which would require notice of a “no-fault” claim to be...
Calif. Commissioner Unveils Second Phase of Reform Plan
Oct 22 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...
Speakers at CIWA Breakfast Underscore Role of Local Wholesale Brokers’ Assoc.
Oct 20 2003 // Richard Bouhan, executive director of NAPSLO, and California Insurance lobbyist Dietmar Grellman of Norwood & Associates stressed the need for vigilance and activism at a breakfast sponsored by the California...
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
Calif. Workers’ Comp Reforms Met with Hesitation
Oct 20 2003 // Calif. Gov. Gray Davis, with much fanfare and hoopla, signed this year’s workers’ comp reform package, citing estimates that the bills will wring more than $4 million in yearly costs from the California’s...
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
Several Oregon P/C Insurance Measures Signed Into Law
Oct 20 2003 // Oregon Governor Ted Kulongoski recently signed several pieces of significant property/casualty insurance legislation, including measures dealing with credit reports, taxes, auto insurance coverage and environmental...
American Agents Alliance Conference Focuses on the Future
Oct 20 2003 // More than 1,400 agents and brokers ventured out to an oasis in Indian Wells, Calif., to take part in the American Agents Alliance 29th Annual Conference and Expo held on Oct. 8-12. The four-day event, held at the...
NAII Hears N.Y. Sen. Seward Cite Fraud as Cause for Auto Premium Increases
Oct 17 2003 // In an address at the National Association of Independent Insurers Fall Legislative Meeting, Sen. James L. Seward, chairman of the Senate Standing Committee on Insurance, stressed the need for serious fraud reform in New...
EC Drops Probe of Lloyd’s Regulation
Oct 16 2003 // The European Commission, the European Union’s regulatory authority, has dropped an investigation of the British government’s rules concerning the Lloyd’s market. The EC began the probe in response to...
Several Oregon P/C Insurance Measures Signed Into Law
Oct 14 2003 // Oregon Governor Ted Kulongoski recently signed several pieces of significant property/casualty insurance legislation, including measures dealing with credit reports, taxes, auto insurance coverage and environmental...
New Risk Retention Group Formed to Insure Companies in the Alarm Industry
Oct 13 2003 // Faced with a hard insurance marketplace and eager to offer an alternative source of insurance to its current and prospective members, the National Burglar & Fire Alarm Association (“NBFAA”) recently turned...
WTC Claims War of Words Continues as Governor Seeks Settlement
Oct 13 2003 // Despite the earnest efforts of New York’s governor George Pataki to find a quick solution to the dispute between Silverstein Properties and Swiss Re over the amount to be paid for the destruction of the World Trade...
IIANJ Comments on Out of State Trust Accounts; ID Cards; Consumer Notices
Oct 10 2003 // The Independent Insurance Agents of New Jersey has issued three separate bulletins addressing the problems of out of state trust accounts, multiple ID card forms and consumer notices on automobile insurance. The IIANJ...
