Insurance News

Posts Tagged ‘Proposed

WASHINGTON?Insurance industry representatives had mixed reactions last week to the latest Senate financial services regulatory overhaul legislation, applauding some changes but vowing to seek further modifications to distance insurers from some of the proposed regulations.

Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd, D-Conn., un-veiled his latest version last week and said his committee would begin marking 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 »

WASHINGTON ? The National Association of Mutual Insurance Companies (NAMIC) voiced its opposition to new legislation creating a federal Office of National Insurance introduced today by Reps. Melissa Bean, D-Ill., and Ed Royce, R-Calif.

The proposal would create within the U.S. Treasury Department an ONI with the authority to organize, incorporate, operate, regulate, and supervise national insurers, agencies, and producers. This new office Read the rest of this entry »