Insurance News

Posts Tagged ‘Faith

Away from New Orleans, with its unique geography and dependence on levees, discussion of hurricanes inevitably turns to insurance. After Katrina struck in 2005, there was much talk about reforming insurance programs in coastal areas to protect taxpayers and promote responsible development.

By and large, much of this talk has remained just that. Several states — among them Mississippi, Louisiana and both Carolinas — have made important strides Read the rest of this entry »

The National Association of Mutual Insurance Companies (NAMIC) today applauded the American Legislative Exchange Council for adopting a resolution opposing insurance bad faith legislation.

The ?Resolution Opposing Unfair and Unbalanced Insurance ?Bad Faith? Legislation? urges state legislatures to adhere to traditional principles of contract law and oppose legislation designed to:

Create new or expansive private causes of action; Read the rest of this entry »

A proposal ostensibly aimed at ramping up consumer protections for New Jersey insurance consumers would likely lead to higher costs instead, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC said the measure to expand the state’s “bad faith” law is unnecessary.

S-132, An Act Concerning Unfair Claim Practices in the Settlement of Certain Uninsured and Underinsured Motorist Coverage Claims, would negatively Read the rest of this entry »