Insurance News

Posts Tagged ‘Legislation

SANTA MONICA, Calif. /PRNewswire-USNewswire/ — California lawmakers gave final approval Wednesday to legislation strengthening and extending the innovative “Low Cost Auto Insurance Program” that offers an affordable bare bones car insurance policy to low-income motorists with no taxpayer cost. Consumer advocates applauded lawmakers for passing AB 1597 (Jones) on a bipartisan basis and are urging Governor Schwarzenegger to sign the bill in order to Read the rest of this entry »

WASHINGTON?Procedural roadblocks thrown up by Republicans to stop action on health care legislation in the Senate are putting the National Flood Insurance Program in jeopardy.

The program?s authorization runs out tomorrow, and the fact that the House has recessed until January has placed immense pressure on the Senate to act.

To deal with the issue, the House yesterday passed two bills, one extending the program until Dec. 23 through Read the rest of this entry »

The National Association of Mutual Insurance Companies (NAMIC) applauds Missouri Gov. Jay Nixon for vetoing Senate Bill 202, legislation that would have repealed the state?s 42-year-old helmet law for motorcycle riders.

?This bill would have had negative, unintended consequences for insurance consumers and motorcyclists and their passengers,? said Mark Johnston, NAMIC?s state affairs manager for the Midwest, ?and we are grateful Read the rest of this entry »

INDIANAPOLIS (May 7, 2009) – A proposal to temporarily prohibit insurance companies from using credit-based insurance scoring to rate policies in New Jersey would lead to cross-subsidization and higher prices for most insurance consumers, the National Association of Mutual Insurance Companies (NAMIC) testified today. The state Senate’s Commerce Committee is considering S-2766, legislation that would suspend use of the underwriting tool until Read the rest of this entry »

INDIANAPOLIS (March 19, 2009) – A proposal to hold down homeowners’ insurance rates in North Carolina would harm rather than help insurance consumers, according to the National Association of Mutual Insurance Companies (NAMIC). The North Carolina House Insurance Committee today is hearing testimony on a proposal to freeze homeowners’ insurance rate modifications that were approved by the insurance commissioner.

“The sponsors of Read the rest of this entry »

INDIANAPOLIS (Feb. 18, 2009) – A proposal to require insurance companies to pay fees and interest to Minnesota claimants who sue is unreasonable, encourages frivolous litigation, and undermines the concept of mutuality, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC member companies underwrite 55 percent of Minnesota’s automobile insurance business.

The legislation essentially would “automatically Read the rest of this entry »