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NAIC Creates Roadmap to Modernize Regulatory Standards
The National Association of Insurance Commissioners (NAIC) has presented House Financial Services Committee Chairman Michael Oxley (R-Ohio) with a "roadmap" ...
The Expansive OCC
There are many reasons that PIA opposes optional federal charters and a federal insurance "czar." We believe that reform of functional state regulation ...
NCOIL Working to Develop Uniformity in Market Conduct Examinations Across States
Last week, the National Conference of Insurance Legislators (NCOIL) was winding up their model/report efforts to develop a uniform approach to market conduct ...
NCSL Adopts Policy Resolution for Insurance Regulatory Modernization
On Wednesday, July 21, the Standing Committee on Financial Services of the National Conference of State Legislatures (NCSL) met to decide NCSL's policy on ...
Ten House FSC Members Sign Letter Asking for Votes to Overturn OCC Preemptions
Ten members of the House Financial Services Committee have signed on to a letter to Committee Chairman Michael G. Oxley (R-Ohio) calling for a vote...
House Subcommittee Releases Discussion Draft of Oxley-Baker "Roadmap"
Rep. Richard Baker (R-Louisiana), Chairman of the House Subcommittee on Capital Markets, has released a discussion draft of a bill providing a series of ...
Brevik Comments on SMART in A.M. Best, National Underwriter
PIA's position on the initial discussion draft of a bill by Rep. Mike Oxley (R-Ohio), chairman of the House Financial Services Committee and Rep. Richard...
Prospects for Capitol Hill Action in the Remainder of 2004
Another August Congressional recess has come and gone. Members have spent the majority of the month in their states and districts visiting with constituents...
NCOIL Executive Committee Chair Says Congress Eyeing States' Premium Tax
The Chairman of the executive committee of the National Conference of Insurance Legislators (NCOIL), Rep. Brian Kennedy of Rhode Island, is warning state ...
TRIA Moves to Front Burner in Congress, SMART May Slow
The House Financial Services Committee will hold a mark-up September 29 on a bill to extend the Terrorism Risk Insurance Act (TRIA) by two years....
NAIC Tells Senate No Need for Federal Regulator
On September 22, 2004 the Senate Banking Committee held a hearing entitled "Examination and Oversight of the Condition and Regulation of the Insurance ...
PIA Encouraged by Initial Draft of SMART
On August 20, Rep. Richard Baker (R-Louisiana) Chairman of the Capital Markets Subcommittee of the House Financial Services Committee released a "discussion ...
SMART Looks Promising, But Devil Is in the Details
There are some words that have a definite meaning but because of the way they are used, they may have a different connotation. "Reform"...
PIA Endorses Military Personnel Financial Services Protection Act
PIA has expressed support for H.R. 5011, the Military Personnel Financial Services Protection Act. H.R. 5011, designed to prevent the sale of abusive insurance ...
PIA Says Spitzer Actions Demonstrate State Regulation is Working
The lawsuit against Marsh and the statements of New York AG Spitzer are getting major attention in the press. The October 18, 2004 Wall Street...
MD Insurance Commissioner Says States Must Show Benefit to Preserve State Regulation
Maryland Insurance Commissioner Alfred Redmer says states cannot simply argue that they have the right to regulate the insurance industry, they must show that ...
Threat to State Regulation Overturned by Court of Appeals, Chicago
The 11th Circuit Court of Appeals has overturned a lower court ruling that would have given a single jury the power to set rates for...
NCOIL Says Preservation, Modernization of State Regulation Top 2005 Priorities
Rep. Craig Eiland (TX), newly elected president of the National Conference of Insurance Legislators (NCOIL), announced his NCOIL priorities for 2005. He said ...
Rep. Frank Says P&C Regulation "Must Remain Local"
The ranking minority member of the House Financial Services Committee, Representative Barney Frank (D-Massachusettes), said he will not support proposals for ...
NAIC President Koken Criticizes SMART in Letter to Oxley, Baker
National Association of Insurance Commissioners President Diane Koken has sent a strong letter critical of the State Modernization and Regulatory Transparency ...
Consumer, Civil Rights, Labor Groups Attack SMART
A coalition of consumer groups, civil rights organizations and labor unions have joined together to oppose the State Modernization and Regulatory Transparency ...
New York State Senator & Former NCOIL President Finds Many Flaws in SMART
An influential New York state senator has sent Congress a white paper with a detailed analysis of what he terms flaws in a proposed federal...
Ohio House Panel Passes Resolution Opposing SMART
The Ohio House Insurance Committee has voted 14-1 in favor of a resolution asking Congress not to enact legislation that would impose federal standards on...
PIA Files Comments on Two Sections of SMART
On May 18, PIA National filed comments on the discussion draft of the State Modernization and Regulatory Transparency Act (SMART) with the House Financial ...
Rep. Baker to NAIC: Put Up or Shut Up on SMART
The head of the congressional panel drafting insurance reform legislation has written a letter to leaders of the National Association of Insurance ...
Roundtable Funds "Agent Group" That Supports Optional Federal Charter
The Financial Services Roundtable (FSR) has provided seed money and continues to fund a group that purports to speak for agents, and is lobbying for...
PIA Attends Bipartisan Meeting on Two Sections of SMART
On Monday, May 23, PIA National attended a bipartisan meeting with industry representatives and House Financial Services Committee staff to discuss two ...
Anti-SMART Bill Pulled in Ohio House after a Visit From Rep. Oxley
A resolution calling on Ohio's congressional representatives to oppose federal legislation that would regulate insurance has been pulled. The resolution ...
Acting OCC Head Not Bowing to Spitzer
Last week, the Wall Street Journal, with great satisfaction, declared that New York Attorney General Eliot Spitzer has "met his match" in the person of...
PIA to Meet With House FSC Staff on SMART
PIA National will attend a "global issues" discussion with the staff of the House Financial Services Committee on Monday, June 13. This session is intended...