Regulatory Archives - Page 158 of 166 - Insurance & Reinsurance

U.S. House of Representatives Passes Subprime Legislation Targeting Wall Street Banks

Nov 20, 2007 | Coverage & Claims, D&O Liability, Federal Legislative Developments, Regulatory, Subprime/Credit Crisis Developments | United States

As the number of home foreclosures continues to rise, the United States House of Representatives recently passed legislation directed at a range of players involved in the subprime crisis.

NY Superintendent of Insurance Unveils Principles-Based Regulation Proposal

Nov 20, 2007 | New York Developments, Regulatory | United States

Earlier this month, New York Superintendent of Insurance Eric Dinallo unveiled a draft regulation that would establish a system of principles-based regulation in New York State. If implemented, the regulation would make New York the first jurisdiction employing principles-based regulation in the United States.

Ways and Means Committee Discusses Retirement Fees

Nov 19, 2007 | Federal Legislative Developments, Regulatory | United States

Last month, the House Ways and Means Committee, Chaired by Charles Rangel (D-NY), held a hearing to consider the appropriateness of fees associated with 401(k) plans and retirement accounts.

House Passes Homeowners’ Defense Act, Senate Introduces Companion Legislation

Nov 19, 2007 | Federal Legislative Developments, Regulatory, Reinsurance | United States

Last week, the United States House of Representatives passed the Homeowners’ Defense Act of 2007 by a vote of 258-155, a day after Senators Hillary Rodham Clinton and Bill Nelson introduced companion legislation in the Senate. We have previously reported on the Act here and here.

Senate Approves Terrorism Risk Insurance Program Reauthorization Act of 2007

Nov 19, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

On Friday, the Senate approved, by voice vote, the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”), which seeks to extend the federal Terrorism Risk Insurance Program for an additional 7 years.

Florida Workers’ Compensation Rate Decrease Approved

Nov 14, 2007 | Florida Developments, Regulatory | United States

As of January 1, 2008, the workers’ compensation rate in the State of Florida will decrease by 18.4%. On October 22, 2007, Florida Insurance Commissioner McCarty requested the National Council on Compensation Insurance make an amended filing to increase the originally proposed 16.5% reduction, as previously reported about here. Commissioner McCarty believes the rate reduction will save Florida employers over $700 million. To view a copy of the press release, click here.

Connecticut Proposes to Adopt Military Sales Practices Regulation

Nov 14, 2007 | Connecticut Developments, Life Insurance & Annuities, Regulatory | United States

Thomas R. Sullivan, Insurance Commissioner of Connecticut, recently published notice of intent to adopt a regulation concerning military sales practices to provide uniform standards through which active duty service members of the United States Armed Forces are protected from dishonest and predatory practices in the sale of individual life insurance and annuity products.

Rhode Island Adopts Record Retention Regulation for Insurance Companies

Nov 12, 2007 | Regulatory | United States

Effective November 8, 2007, the Rhode Island Department of Business Regulation implemented Regulation 67, which provides new requirements for the retention and maintenance of records necessary for market conduct examinations.

Washington Voters Approve Measure to Allow Treble Damages in Insurer Bad Faith Actions

Nov 12, 2007 | Coverage & Claims, Regulatory | United States

On Tuesday, Washington voters approved a measure to allow plaintiffs to receive treble damages from claims alleging bad faith claims handling by an insurer. This is a marked increase from the current law that limits recoveries resulting from bad faith of an insurer to the actual damages incurred.

Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

Nov 2, 2007 | Florida Developments, New York Developments, Regulatory, Reinsurance | United States

In the wake of New York Superintendent Eric Dinallo’s announcement that New York was changing the rules surrounding collateral requirements for foreign reinsurers, it was reported last week that several other U.S. states are contemplating similar changes.

Topic: Regulatory

U.S. House of Representatives Passes Subprime Legislation Targeting Wall Street Banks

NY Superintendent of Insurance Unveils Principles-Based Regulation Proposal

Ways and Means Committee Discusses Retirement Fees

House Passes Homeowners’ Defense Act, Senate Introduces Companion Legislation

Senate Approves Terrorism Risk Insurance Program Reauthorization Act of 2007

Florida Workers’ Compensation Rate Decrease Approved

Connecticut Proposes to Adopt Military Sales Practices Regulation

Rhode Island Adopts Record Retention Regulation for Insurance Companies

Washington Voters Approve Measure to Allow Treble Damages in Insurer Bad Faith Actions

Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

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