All the headlines from our Legislation Topic Page, ordered by recency.
Dec 15 2011 // A major group for risk management professionals sent a letter to the U.S. Treasury Department, asking for a bigger federal role in regulating insurance.The Risk and Insurance Management Society sent its letter to Michael...
Dec 15 2011 // Florida has added one more name to the growing list of offshore reinsurers who can do business in the state under a new law allowing them to reduce their capital and collateral requirements.The Florida Office of Insurance...
Dec 15 2011 // A bill that could help Michigan employers reduce costs related to compensating workers injured on the job is on the way to Gov. Rick Snyder after getting final approval in the state Legislature.The bill was approved 60-47...
Dec 15 2011 // U.S. offshore oil and gas drillers need to take a more systematic approach to safety in all aspects of their operations to prevent another catastrophe like last year’s massive Gulf of Mexico oil spill, a scientific...
Dec 14 2011 // Minnesota is in the process of liquidating an Austin, Minn.-based insurance and trust company that regulators say has a long history of financial problems, administrative incompetence, coercive and dishonest business...
Dec 14 2011 // A nurse with a prior felony conviction for forging prescriptions dilutes morphine solutions for five Halstead, Kan., nursing home patients. Another nurse convicted of stealing drugs from patients at an Emporia home gets...
Dec 14 2011 // A JPMorgan unit cannot force insurers to pay a $250 million settlement between failed investment bank Bear Stearns and government regulators, a state appeals court in New York ruled on Tuesday.Reversing a trial court, the...
Dec 14 2011 // The liability risks facing company directors and officers are intensifying in the wake of the economic crisis. At the head of the list are “regulatory investigations and enquiries,” which pose the greatest...
Dec 14 2011 // Four people will spend five years on probation after being convicted of pocketing money from Gulf oil spill claims.The Press-Register reported that U.S. District Judge William Steele also ordered the four to pay back money...
Dec 13 2011 // Mutual insurers are pleased with a new proposal that makes it clear they would continue under state regulation and not be governed by the liquidation provision of the new federal Dodd-Frank Act.The proposed rule issued by...
Dec 12 2011 // A joint committee of state lawmakers over the next year will be looking in to alternatives for providing property insurance along the Texas coast.Texas House Speaker Joe Straus, R-San Antonio, has announced Texas House...
Dec 12 2011 // Federal Emergency Management Agency (FEMA) issued a new bulletin telling insurers that they should cooperate with state regulators on questions regarding federal flood insurance.There has been an ongoing turf battle...
Dec 12 2011 // The Arkansas insurance commissioner’s decision to give up on the state running a health insurance exchange isn’t the end of the fight over implementing the federal health care law that required it. It’s...
Dec 9 2011 // A federal judge has ruled that a Montana blogger was not acting as a journalist when she lambasted an Oregon attorney in online statements that led to a $2.5 million defamation judgment against her.The ruling last week by...
Dec 9 2011 // Florida lawmakers are considering allowing surplus lines carriers to participate in the depopulation programs of the state’s largest homeowner insurer in an effort to reduce its policyholder rolls.Citizens Property...
Dec 9 2011 // Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British...
Dec 8 2011 // Workers’ compensation reform legislation that supporters say will help reduce employer costs for helping injured workers has advanced in Michigan.The state Senate has passed a bill that was previously approved in the...
Dec 8 2011 // In this era of sharp political differences, the need for a national flood insurance program is one area where just about everyone agrees. Even so, the program is a victim of Washington partisanship, actuaries were told at...
Dec 7 2011 // The U.S. Senate passed an extension of the National Flood Insurance Program (NFIP) through May 31, 2012.The legislation, introduced by Sen. David Vitter, R-La., passed the Senate by unanimous consent and must now be taken...
Dec 7 2011 // Ten years ago, foreign insurers were lining up to celebrate China’s entry into the World Trade Organization, eager to tap what was certain to become the world’s next big insurance frontier.A decade on, it is...