Regulatory Archives - Page 162 of 166 - Insurance & Reinsurance

House Subcommittee to Address Fairness of Credit-Based Insurance Scores

Sep 26, 2007 | Federal Legislative Developments, Regulatory | United States

The House Subcommittee on Oversight and Investigations (the “Subcommittee”) will hold a meeting, entitled “Credit-Based Insurance Scores: Are They Fair?,” on October 2, 2007 to discuss the growing use of credit-based insurance scores.

Breaking News: House Approves TRIA Extension

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

Despite news reports that the White House plans to veto the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”) in its current form, the U.S. House of Representatives overwhelmingly voted 312-110 today in favor of TRIREA, which would extend TRIA 15 more years and add group life insurance and domestic terrorism coverage.

New York Insurance Superintendent Recommends Alternative Workers’ Compensation Rating System

Sep 19, 2007 | Industry Developments, New York Developments, Regulatory | United States

New York’s Insurance Superintendent, Eric Dinallo, recently issued a report analyzing the workers’ compensation rating system currently in place in New York State. The Report, which was required by the 2007 Workers’ Compensation Reform Act, proposes wholesale changes to the workers’ compensation rating system currently in place.

White House Opposes TRIA Extension

Sep 18, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

As we have recently reported on InsureReinsure.com, the Federal Terrorism Risk Insurance Program is due to expire at year-end. Congress is currently considering an extension of the Program, the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”), which we have discussed here, here, here, and here.

CBO Estimates Cost of TRIA Extension to be $8.4 Billion Over the Next Decade

Sep 18, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

The Congressional Budget Office (“CBO”) released a report last week that estimated the cost of extending the Federal Terrorism Risk Insurance Program to be $3.5 billion for the next five years and $8.4 billion for the next decade.

More Rate Filings Denied In Florida

Sep 17, 2007 | Florida Developments, Regulatory | United States

The Florida Office of Insurance Regulation (“FOIR”) denied eight more rate filings last week.

New Jersey Bans Use of Step-Down Provisions

Sep 14, 2007 | New Jersey Developments, Regulatory | United States

On Monday, September 10th, New Jersey Governor Jon Corzine signed into law a bill (S-1666/A-3038) banning the use of step-down provisions. Step-down provisions are used in businesses’ motor vehicle liability insurance policies and apply to employee claims.

NAIC Seeks Comment on Proposal to Modify Reinsurer Rules

Sep 12, 2007 | Regulatory, Reinsurance | United States

As outlined in our June 7, 2007 blog entry, the National Association of Insurance Commissioners (NAIC) is considering modernizing reinsurance regulation, including collateral requirements of nonadmitted reinsurers.

Ralph S. Tyler Named as Maryland’s New Insurance Commissioner

Sep 11, 2007 | Industry Developments, Regulatory | United States

On September 6, 2007, Maryland Governor Martin O’Malley named Ralph S. Tyler as the new Maryland Insurance Commissioner. Tyler is an attorney with over 30 years of legal experience. He currently serves as Maryland’s Chief Legal Counsel and was City Solicitor from 2004 to 2007.

Massachusetts Insurance Commissioner Proposes Regulation to Deregulate Automobile Insurance

Sep 11, 2007 | Massachusetts Developments, Regulatory | United States

Over the last ten years, states have been moving, albeit slowly, to deregulate automobile insurance. Supporters of deregulation often cite the high premiums, distorted rates and lack of choices that drivers experience under a regulated system. They argue that in states that rely on markets to set rates, neither prices nor profits are excessive.

Topic: Regulatory

House Subcommittee to Address Fairness of Credit-Based Insurance Scores

Breaking News: House Approves TRIA Extension

New York Insurance Superintendent Recommends Alternative Workers’ Compensation Rating System

White House Opposes TRIA Extension

CBO Estimates Cost of TRIA Extension to be $8.4 Billion Over the Next Decade

More Rate Filings Denied In Florida

New Jersey Bans Use of Step-Down Provisions

NAIC Seeks Comment on Proposal to Modify Reinsurer Rules

Ralph S. Tyler Named as Maryland’s New Insurance Commissioner

Massachusetts Insurance Commissioner Proposes Regulation to Deregulate Automobile Insurance

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