Posts Tagged ‘tells’
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WASHINGTON —An insurance industry official told a congressional panel that lawmakers must be careful to ensure any expanded federal insurance does not artificially suppress rates or crowd out private carriers.
The remarks from Robert Detlefsen, vice president of public policy for the National Association of Mutual Insurance Companies, were made today at a session on catastrophe insurance issues held by the
Natural Disaster Policy Should Not Incentivize Risky Behavior, NAMIC Tells Congress
Posted on: July 6, 2009
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WASHINGTON (July 2, 2009) – To properly address coastal insurance issues there must be an appropriate balance between the private insurance sector and the government that avoids encouraging risky behavior in disaster-prone areas. That is what the National Association of Mutual Insurance Companies (NAMIC) today told the House Subcommittee on Oversight and Investigations at a field hearing in West Palm Beach, Fla. titled “The Homeowners’ Insurance Read the rest of this entry »
Proposed Bad Faith Insurance Bill Would Lead to ‘All Cost, No Benefit,’ NAMIC Tells New Jersey Lawmakers
Posted on: June 15, 2009
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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 »
Anti-credit Scoring Legislation is Anti Consumer, NAMIC Tells New Jersey Senate Committee
Posted on: May 13, 2009
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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 »
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