Legislation that would temporarily extend the National Flood Insurance Program (NFIP) until March 31, 2010, was introduced into Congress yesterday. House Financial Services Housing Subcommittee Chairwoman Maxine Waters, D-Calif., and Committee Chairman Barney Frank, D-Mass., introduced the extension bill, which …
The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the industry are happy that the Obama Treasury Department …
The Obama administration stepped up its push for tougher bank and financial firm rules Thursday, scheduling a briefing for lobbyists, with a focus on insurance oversight, and sending a top regulator to a Senate hearing to discuss plans for regulating …
Two congressional leaders introduced legislation today that would create a federal regulator for insurance as an alternative to the current state-based regulatory structure currently in plan. Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif., introduced their bipartisan insurance regulation …
The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any federal regulatory authority should not replace state regulation of insurance, …
Gov. Marc Racicot will leave his position as the president and CEO of the American Insurance Association (AIA), effective Feb. 1, 2009. Racicot served more than three years as the leader of the the AIA, a property/casualty insurer trade association. …
The federal Terrorism Risk Insurance Revision and Extension Act moved out of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises this week and on to the full House Financial Services Committee. The measure (H.R. 2761) …
Insurance regulatory reform efforts on Capitol Hill took a giant leap forward with the recent House passage of HR 1065, the Non-Admitted and Reinsurance Reform Act of 2007. Sponsored by Rep. Dennis Moore, D-Kan., and Rep. Ginny Brown-Waite, R-Florida, HR …
Legislation passes House, heads for the Senate; but not all in the industry think it’s the answer as now written Insurance regulatory reform efforts on Capitol Hill took a giant leap forward with the recent House passage of HR 1065, …
The U.S. House of Representatives passed H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007, legislation that if enacted, will help increase the efficiency of the existing state-based insurance regulatory system, supporters say. H.R. 1065 is virtually the same …
