Latest Legislation Headlines

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

China Planning Earthquake Coverage Program

Jul 14 2004 // China wants to build an insurance system in two to three years to protect against natural catastrophes, which officials estimate cause some $17 million in losses every day.China Daily reported that the Insurance Regulatory...

Loss-History Data Under Scrutiny in 31 States

Jul 14 2004 // Lawmakers or insurance regulators in 31 states have questioned the practice during the past 18 months, and at least 14 states and the District of Columbia have enacted provisions dealing with use of this information,...

NCOIL to Investigate Corporate Governance Issues

Jul 13 2004 // The National Council of Insurance Legislators announced that a subcommittee will begin investigating the appropriate role of the states regarding insurer corporate governance and accountability issues at the NCOIL summer...

IIABA Testifies on Gramm-Leach-Bliley Act; Says Legislation Reaffirmed State Authority

Jul 13 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) testified on Tuesday before the Senate Banking Committee that the landmark 1999 Gramm-Leach-Bliley Act (GLBA) has not fundamentally...

Vermont Supreme Court Rules Intentional Sexual Harassment Not Covered Under Liability Policies

Jul 12 2004 // The Vermont Supreme Court on July 9 rejected an effort by two women to collect from insurance companies covering the home and business of a man they said sexually harassed them.Cindy Serecky and Shannon Gioia were...

Del. Lowers Drunk Driving Threshold

Jul 12 2004 // Delaware lawmakers recently agreed to join the rest of the nation by lowering the blood-alcohol threshold for drunken driving.Lawmakers voted to lower the blood-alcohol concentration considered prima facie evidence that a...

NAMIC Responds to Senate Class Action Vote

Jul 12 2004 // After the Senate failed to reach an agreement on so-called non-germane amendments that would have permitted the class action reform legislation, S. 2062, the Class Action Fairness Act, to be considered in the Senate last...

PMI Europe Receives Italian Regulatory Approval

Jul 9 2004 // The California-based PMI Group, Inc. announced that its wholly owned subsidiary, PMI Mortgage Insurance Company Limited (PMI Europe), has received regulatory approval to operate an Italian branch.PMI Europe’s office...

PCI Urges NAIC to Drop Insurance Scoring “Best Practices;” Focus on Consumer Education

Jul 9 2004 // A bulletin from the Property Casualty Insurers Association of America urges the National Association of Insurance Commissioners to stop work on insurance scoring “best practices” and develop consumer education...

NAMIC Issues Policy Paper on ‘Disparate Impact’ Theory for Credit Scoring

Jul 8 2004 // The National Association of Mutual Insurance Companies has prepared and released a bulletin attacking efforts to apply the “disparate impact” legal standard to the use of credit-based insurance scores.The...

Commentary: Farewell Reflections Continued

Jul 8 2004 // The following article is part-two of a three-part commentary written by an insurance company executive which includes an industry critique and reflection on lifelong lessons learned. For part-one see IJ National July...

La. Legislature Passes PWC Age Requirement

Jul 7 2004 // Personal watercraft operators will soon be required to be at least 16 years of age if they intend to ride in the state of Louisiana.A legislative proposal sponsored by Sen. Noble Ellington was unanimously passed in the...

R.I. Approves Flex Rating for Personal Lines

Jul 7 2004 // Rhode Island lawmakers have passed a bill to relax regulation of personal lines insurance rates in the state.The House and Senate have approved a flex-rating measure allowing insurers to increase or decrease rates by no...

N.Y. Gov. Pataki Reports Drop in Auto Rates

Jul 7 2004 // New York Gov. George Pataki announced a two percent decrease in auto insurance premiums for drivers receiving coverage under the New York Assigned Risk Plan, which will reportedly result in lower insurance payments for...

La. Legislature Completes 2004 Regular Session With More Reforms

Jul 6 2004 // The Louisiana Legislature wrapped up its regular session for 2004 on June 21. During the 2004 session, Louisiana lawmakers continued their reform of the insurance regulatory environment, aiming to bring additional insurers...

Fla. CFO Commends Governor, Lawmakers for Ending Abusive Practices in Annuities Sales

Jul 6 2004 // Florida’s Chief Financial Officer Tom Gallagher has applauded Governor Bush and state lawmakers for enacting legislation which puts an end to abusive sales practices used by unscrupulous insurance agents selling...

At NAMIC, The Door’s Wide Open to Companies of All Sizes

Jul 5 2004 // Chairman Tim Hegarty Explains How His Trade Group Serves Big and Small AlikeWhat happens when you put giants like State Farm, AIG, Nationwide and Liberty Mutual in a room with tiny farm mutuals like Husbandsmans Mutual,...

R.I.’s Beacon Mutual to Expand into Other States for Workers’ Comp

Jul 5 2004 // Beacon Mutual Insurance Co., Rhode Island’s largest workers’ compensation insurance writer that was formed in 1990 as a state fund, is taking steps to write coverage outside of the state.The Warwick company has...

R.I. MAY DELAY LEAD PAINT RULES:

Jul 5 2004 // Lead-paint regulations for thousands of old housing units were to take effect July 1 in Rhode Island, but real estate agents and a growing number of lawmakers say owners need more time to prepare for the changes. The...

Is Market Conduct Reform Finally on the Horizon’

Jul 5 2004 // As baseball immortal Yogi Berra is often fond of saying, “It ain’t over until it’s over.”This particular “Yogi-ism” somehow seems apropos when one considers recent discussions among the...