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WASHINGTON?Insurance industry representatives said President Obama?s new effort to tax insurers who cede premiums to overseas affiliates is far tougher than previous proposals aimed at low-tax offshore havens.

The Obama administration?s concept contained in the budget it released yesterday unleashed withering criticism from a spokesman for Bermuda insurers as well as officials of the Risk and Insurance Management Society Inc., which Read the rest of this entry »

The National Conference of Insurance Legislators said its upcoming March meeting will keep its focus on fighting proposals in Washington for legislation to create a federal insurance unit.

An NCOIL official said the group will continue to express concerns about the establishment of a Federal Insurance Office or Office of National Insurance during its Spring Meeting in March.

NCOIL said the meeting, to be held in South Carolina, will Read the rest of this entry »

HELENA – Spending to stomp out wildfires could be reduced by training and rewarding homeowners to practice fire-safety defense, lawmakers said Wednesday as they presented several bills intended to cut costs.

The bills could force insurers to offer discounts to homeowners living in the wildland-urban interface who take fire precautions, and compel insurers to educate and inspect for preparedness.

Republican Sen. Rick Laible Read the rest of this entry »

INDIANAPOLIS (Dec. 17, 2008) – California insurance consumers and the state’s economy could be severely harmed if proposed changes are made to the state’s insurance rate approval structure. That was the message delivered in written comments to California insurance officials last week by the National Association of Mutual Insurance Companies (NAMIC).

NAMIC, in conjunction with its domestic insurer state advocacy partners, the Read the rest of this entry »