U.S. House Committee Holds Insurance Data Hearing
The Automotive Service Association (ASA) has announced that the Housing and Insurance Subcommittee of the U.S. House Financial Services Committee held a hearing to discuss proposals to reform domestic insurance policy. Included in the hearing agenda was the Insurance Data Protection Act, Rep. Steve Stiver’s (R-Ohio) bill to modify the authority of the Federal Insurance
Debate on Federal Regulation of Insurance Continues
At hearing, FIO Director Michael McRaith notes that Republican President Theodore Roosevelt called for the federal regulation of insurance in his 1904 State of the Union address.
U.S. House Committee on Financial Services Holds Insurance Hearing
The U.S. House Committee on Financial Services Subcommittee on Housing and Insurance recently held a hearing titled, “The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers.” Witnesses included Mike McRaith, director of the Federal Insurance Office (FIO) at the U.S. Department of the Treasury, created under the Dodd-Frank Act. McRaith made the
House Committee Holds Hearing on Impact of Dodd-Frank Insurance Regulations
Panelists remark on Federal Insurance Office in testimonies.
House Committee on Financial Services Holds Insurance Hearing
The House Committee on Financial Services recently held a hearing titled, “U.S. Insurance Sector: International Competitiveness and Jobs.” Witnesses included The Honorable Michael McRaith, director of the newly created Federal Insurance Office (FIO), and The Honorable Kevin McCarty, insurance commissioner for the Florida Office of Insurance Regulation, speaking on behalf of the National Association of Insurance
New Maryland Insurance Commissioner Appointed
Gov. Martin O’Malley announced the appointment of Therese Goldsmith as Maryland insurance commissioner. In 2009, Gov. O’Malley appointed Goldsmith as commissioner of the Public Service Commission of Maryland. Her tenure as insurance commissioner will be effective on June 13, 2011. “I’m excited to see a new commissioner come into Maryland, as there has been some
ASA Opposes Efforts to Eliminate FIO’s Federal Regulation Study
The Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. 4173, was signed into law in July 2010. One insurance provision included in the new law was a requirement for an insurance modernization report to the U.S. Congress, which was supported by the Automotive Service Association (ASA). The director of the Office of National Insurance
LEAN & MEANER: Building a Lean Front Office
You’ll find that the greatest opportunity for eliminating waste in the collision repair business exists not on the shop floor but rather up front in the office. Here’s how to do it.
AASP-MN Opposes Federal Insurance Regulation
In response to federal legislative proposals that would establish a lead federal role in the regulation of insurance companies, the Alliance of Automotive Service Providers of Minnesota (AASP-MN) Collision Advisory Committee announced it has adopted a position statement opposing federal regulation of the insurance industry. (Click HERE to read more about the pending legislation). AASP-MN
Collision Repairers Convene on Capitol Hill to Call for Insurance Reform
). David A. Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), has said the group opposes the bill, which PCI believes takes advantage of the AIG controversy to punish the entire insurance industry. “The McCarran-Ferguson Act does not hinder competition among insurers,” Sampson said. “In fact, it promotes competition in