Insurance News

Posts Tagged ‘rules

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 »

WASHINGTON?Two property/casualty insurance industry groups and a self-insurance group asked the U.S. government Friday to delay implementation of mandatory Medicare secondary payer reporting requirements.

The requirements that are to go into effect April 1 are designed to ensure that Medicare remains the secondary payer when a Medicare beneficiary has medical expenses that fall under the primary responsibility of liability insurance?including Read the rest of this entry »

Producer group representatives said changes made to the proposed New York compensation regulation have improved the rule, but aspects of it could still burden their members.

Several points need to be addressed before the regulation announced yesterday is made permanent, they said.

Michael Barrett, legislative representative for the Valley Stream, N.Y.-based Independent Insurance Agents & Brokers of New York said the association continues Read the rest of this entry »

BOSTON—A recent spate of traffic accidents in Massachusetts has intensified the debate about restricting older drivers, pitting legislators against advocates opposed to age-based curbs on mobility.

As the U.S. population ages, the number of licensed drivers over 65 is projected to double to nearly 57 million by 2030, or a quarter of all drivers. For years, states have wrestled with how to weed out those whose cognitive or physical impairments Read the rest of this entry »

WASHINGTON – From simple home loans to Wall Street’s most exotic schemes, the government would impose and enforce sweeping new “rules of the road” for the nation’s battered financial system under an overhaul proposed Wednesday by President Barack Obama.

Aimed at preventing a repeat of the worst economic crisis in seven decades, the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to Read the rest of this entry »

The long-awaited federal upgrade of the 35-year-old regulation governing vehicle roof strength will save 135 lives, prevent more than 1,000 injuries and add up to $1.4 billion annually to the cost of new cars, the Transportation Department said.

Under pressure from Congress, the National Highway Traffic Safety Administration boosted new roof-strength requirements when it finalized last week its long-awaited upgrade of roof-strength requirements Read the rest of this entry »

The Montana Captive Insurance Association, Inc. (MCIA) said that a measure passed by the legislature that eases requirements for captive operations should strengthen the state’s position as a captive domicile.

HB160 awaiting the signature of Gov. Brian Schweitzer, was given final approval by the House March 9 on a 47-1 vote. MCIA said they expect Mr. Schweitzer to sign it March 20.

Under the new law, Montana-licensed captives Read the rest of this entry »