Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Playing the Waiting Game in the Texas Homeowners Market
Apr 7 2003 // Could it be that there is a light at the end of the tunnel for the Texas homeowners market? Rates have firmed through waves of increases over the past two years to the point where they may have reached a pinnacle, at least...
Senate Passes Insurance Reform Bill
Apr 4 2003 // The Texas Senate passed, on a 28-3 vote, Senate Bill 14, major insurance reform legislation that addresses rate regulation and the use of credit-based insurance scores, among other things. Generally, the bill regulates the...
NAMIC Comments on Interim Rules of Terrorism Risk Ins. Act
Apr 3 2003 // The National Association of Mutual Insurance Companies (NAMIC) submitted comments this week to the Department of Treasury on the first round of interim final regulations of the Terrorism Risk Insurance Act (TRIA). The...
Industry Must Improve Regulatory Procedures, Ethics Group Says
Apr 2 2003 // The Insurance Marketplace Standards Association (IMSA) called for industry leaders to step up and take charge of efforts to improve regulatory procedures. IMSA executive director Brian Atchinson warned, The industry needs...
NAII Pushes for Regulatory Modernization in Louisiana
Mar 31 2003 // Legislative changes to address the insurance availability problem in Louisiana and to promote greater competition in the industry will be the crux of the National Association of Independent Insurers’ (NAII’s)...
Gerling Gets Favorable Court Ruling on Plans to Sell Reinsurance Unit
Mar 31 2003 // A court in Frankfurt has ruled against the German Supervisory authority’s, BAFin’s, objections to the sale of the Gerling group’s reinsurance operations, Gerling Globale Re, to Globale Management GmbH...
NAMIC Supporting Small Company Tax Inflation-Adjustment Legislation
Mar 31 2003 // Late last week, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax...
The Seibels Bruce Group Reports Lower Profit in 4Q 2002
Mar 31 2003 // South Carolina’s The Seibels Bruce Group Inc., announced financial results for the fourth quarter and year that ended December 31, 2002, reporting it posted a net profit of $805 thousand, or $0.09 per share (basic...
ACIC’s 14th Annual General Counsel Seminar Set for July
Mar 28 2003 // Insightful speakers and informative panels will present the most up-to-date overviews of issues affecting property/casualty insurers writing business in California during the Association of California Insurance...
Florida Insurance Regulator Confirmed
Mar 28 2003 // The Florida Financial Services Commission, made up of the governor and Cabinet, unanimously approved the appointment of Kevin McCarty as director of the Office of Insurance Regulation (OIR). As director, he will be...
Idaho Gov. Signs Landmark Tort Reform Measure Into Law
Mar 28 2003 // A bill signed into law March 26 by Idaho Gov. Dirk Kempthorne (R) sets the standard for tort reform in the states, according to the Alliance of American Insurers. HB 92, which passed the Senate 27-8 and the House 58-12...
NAII Strongly Opposes Proposed Medical Liability Rate Rollback in Fla.
Mar 28 2003 // The Florida Senate Banking and Insurance Committee took a 180-degree turn from the direction of the House and approved legislation that would roll back rates back by 60 percent. The National Association of Independent...
Water Claims Legislation Passes TX Senate Committee
Mar 27 2003 // Legislation authored by Texas Senator Troy Fraser to speed insurance companies’ response to water damage claims, limit the amount insurers can charge homeowners for previous water damage claims, and require the...
NAII Lauds House Passage of N.H. Regulatory Modernization Bill
Mar 27 2003 // The National Association of Independent Insurers praised New Hampshire’s House of Representatives for passing H.B. 684, which it strongly supports, calling it “a bill that will make it easier for insurers and...
SC Supreme Court Ruling on Diminished Value Applauded
Mar 26 2003 // The Alliance of American Insurers praised a ruling by the South Carolina Supreme Court that limits the amount insurers must pay to repair damaged vehicles. The ruling came in a case involving a State Farm policyholder who...
Alliance Opposes RI Bill to Ban Confidential Court Settlements
Mar 26 2003 // According to a bulletin from the Alliance of American Insurers “A bill being heard today by the Rhode Island House Judiciary Committee is an attempt by the trial bar to restrict the use of confidentiality and...
NY to Widen Scope for Captives
Mar 24 2003 // New York Governor George E. Pataki and New York City Mayor Michael R. Bloomberg jointly announced new legislation that will allow a wider range of businesses “the opportunity to utilize captive insurance companies to...
Med Mal Fever: When Doctors Walk Out, Politicians Notice
Mar 24 2003 // They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and...
Mold Legislation Continues Growth in State Legislatures
Mar 24 2003 // State lawmakers around the country have been busy introducing a variety of bills aimed at the issue of mold, how it is addressed by society, and how it is covered by insurers’. “We are currently tracking nearly...
Calif. Commissioner Formally Enforces Regulatory Powers Over SCIF
Mar 24 2003 // California Insurance Commissioner John Garamendi announced March 21 that California State Compensation Insurance Fund would continue to provide workers’ compensation coverage for employers incapable of finding...
