Last month, the Senate began debate on the first comprehensive climate change bill, known as the Lieberman-Warner Climate Security Act (the “Bill”). The Bill would rely on a “cap and trade” program (the “Program”) to give power plants, factories and refineries financial incentive to reduce their greenhouse gas emissions. Under the Bill, the Program would first set a cap on the total carbon dioxide emissions allowed in the United States.
Federal Legislative Developments
Lautenberg Reintroduces Measure to Keep New Jersey Children Covered by Health Insurance
On June 26, 2008, U.S. Senator Frank Lautenberg (D-NJ) reintroduced a measure intended to ensure that children have access to healthcare. The measure was inserted into the Fiscal Year 2009 Labor-Health and Human Services-Education Appropriations bill (the “Bill”). …
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NAIC Pledges Support to Holocaust Insurance Act
Last week, the National Association of Insurance Commissioners (“NAIC”) pledged its support for the Holocaust Insurance Accountability Act of 2008 (“Accountability Act”), which would institute mechanisms for Holocaust-era insurance claims. The proposed legislation is intended to assist Holocaust survivors and their heirs with insurance claims that are complicated because of missing death certifications and/or non-existent physical copies of policies that were confiscated by the Nazis or lost in the Holocaust.
House Passes ADA Amendment
By Troutman Pepper Locke on
On June 25, 2008, the U.S. House of Representatives passed the ADA Amendments Act (the “Act”) by a margin of 402-17. The purpose of the Act is to reject court decisions that have narrowed the scope and protection for people with disabilities under the American with Disabilities Act (“ADA”) and restore its original Congressional intent.
House Subcommittee to Consider Legislation for Formation of Federal Office of Insurance Information
By Troutman Pepper Locke on
On June 10, 2008, the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises (the “Subcommittee”) will hold a hearing on H.R. 5840, the Insurance Information Act of 2008, regarding the creation of a federal Office of Insurance Information (the “OII”). …
Read More House Subcommittee to Consider Legislation for Formation of Federal Office of Insurance Information
Senate Extends NFIP Without Windstorm Coverage
By Troutman Pepper Locke on
On May 13, 2008, the Senate passed its version of the Flood Insurance Reform and Modernization Act of 2007 (the “Act”) that would extend the National Flood Insurance Program (“NFIP”) through 2013. The NFIP is set to expire in September unless renewed.
Senate Rejects NFIP Windstorm Amendment
By Troutman Pepper Locke on
This post is an update to our postings on October 2 and October 22, 2007 regarding the proposed legislation to extend the National Flood Insurance Program (“NFIP”). The NFIP is set to expire in September unless renewed. …
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Examining Proposals on Insurance Regulatory Reform
On April 16, 2008, the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises held a hearing on proposals on insurance regulatory reform. …
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U.S. House Bill Aims to Expand Commercial Property Insurance Options for Members of Risk Retention and Risk Purchasing Groups
United States House Representatives Dennis Moore (D-Kansas) and Deborah Pryce (R-Ohio) have recently introduced H.R. 5792, the Increasing Insurance Coverage Options for Consumers Act of 2008 (the “IICO Act”). …
Read More U.S. House Bill Aims to Expand Commercial Property Insurance Options for Members of Risk Retention and Risk Purchasing Groups
House Representatives Request Clarifications to FINSA Application in Treasury Department Regulations
By Troutman Pepper Locke on
Several members of the U.S. House of Representatives sent a letter to Department of Treasury Secretary Henry Paulson on March 13, 2008, requesting the Department of Treasury provide clear regulations outlining the application of the Foreign Investment and National Security Act (“FINSA”) on foreign investment in domestically owned companies.