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H.R. 1253, the Health Insurance Restrictions and Limitations Clarification Act of 2009, was passed on March 31, 2009 in the House of Representatives by a vote of 422 to 3. 

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Read More House Overwhelmingly Passes Bill to Mandate Upfront Disclosure of Source of Injury Coverage Exclusions in Group Health Plans

In a letter to the G20 members, the Geneva Association, an organization comprised of CEOs from the world’s leading insurance and reinsurance companies, provided recommendations for more effective regulation of the insurance and reinsurance industry, along with information and analysis regarding the differences between the insurance and reinsurance industry and that of the banking industry. 

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Read More Global Insurance Research Organization Offers Guidance to G20 Members on Regulating the Insurance Industry

This morning, Representatives Melissa Bean, D-Ill., and Ed Royce, R-Calif., introduced the National Insurance Consumer Protection Act of 2009 (“NICPA”) in the House of Representatives.  NICPA would establish a new system of federal regulation and supervision for insurers and insurance producers. 

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Read More BREAKING NEWS: Legislation Introduced for Federal Regulation of National Insurers and Producers

On April 1, 2009, the Florida Senate Judiciary Committee passed an amended Senate Bill 1894 (the “Amended Bill”) by a vote of 5-4.  The Amended Bill, while differing in form, incorporated some of the concepts proposed by Senator Jeremy Ring (D) that we reported about here. 

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Read More UPDATE: Amended Surplus Lines Insurer Exemption Legislation Passed By Florida Senate Judiciary Committee

On March 25, 2009, Washington Governor Chris Gregoire signed into law Senate Bill 5417, An Act Relating to Flood Insurance Coverage (the “Act”).  The Act applies to insurers issuing homeowner, condominium unit owner, residential tenant and residential fire insurance policies that do not cover damage caused by flood. 

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Read More Washington Governor Signs Flood Insurance Coverage Bill

The Venezuelan National Assembly recently engaged in its first discussions regarding the proposed new Ley de Actividad Aseguradora, which would establish a new Superintendency of Insurance Activity and contain provisions concerning the authorization, supervision and regulation of the nation’s insurance industry. 

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Read More Venezuelan National Assembly Engages in Initial Discussions Regarding Proposed New Insurance Regulatory Law

Helen Clark and Peter Fidler of EAPD attended this joint seminar, chaired by the Rt. Hon. Lord Justice Rix on 31 March 2009. The panel, including David Hertzell, Law Commissioner, Bob Britton, Chairman of the LMA Law Reform Committee and Paul Hopkin, Technical Director of AIRMIC, analysed the responses to date to the Consultation on the reform of insurance contract law and confirmed the next stages of the process. 

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Read More BILA/Law Commission Seminar on Insurance Contract Law Reform

On Tuesday, March 31, 2009, New York State Insurance Department (“NYSID”) Superintendent Eric Dinallo announced that the NYSID entered into a Memorandum of Understanding (“MoU”) with the Autoridade Monetária de Macau (“AMCM”), Macau’s insurance regulator. 

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Read More New York Insurance Department Announces Cooperation Agreement with Macau

Legislation (Senate Bill 1894) introduced in the Florida Senate to exempt surplus lines insurers from the provisions of Chapter 627 has been amended by the Committee on Banking and Insurance and re-referred to the Judiciary Committee. 

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Read More UPDATE: Florida Senate Committee Amends Surplus Lines Insurer Exemption Legislation