Obama Administration Proposes Office of National Insurance
The Obama Administration has sent legislation to Congress that would create an Office of National Insurance (ONI), a proposed department of the Treasury that would “monitor all aspects of the insurance industry, including identifying issues or gaps in the regulation of insurers that could contribute to a systemic crisis in the insurance industry of the
House Subcommittee Holds Hearing on Federal Regulation of Insurance
The U.S. House of Representatives Committee on Financial Services’ Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises last week held a hearing addressing how the federal government should oversee the regulation of the insurance industry. Rep. Paul Kanjorski, D-Pa., subcommittee chairman, opened the hearing with a statement that reflected the growing interest in the
House Subcommittee Holds Hearing on Federal Regulation of Insurance
The U.S. House of Representatives Committee on Financial Services’ Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises last week held a hearing addressing how the federal government should oversee the regulation of the insurance industry. Rep. Paul Kanjorski, D-Pa., subcommittee chairman, opened the hearing with a statement that reflected the growing interest in the
California Insurance Department Hears Testimony on Proposed Anti-Steering Regulations
The California Autobody Association (CAA) testified at a public hearing Feb. 25 on the California Department of Insurance’s (DOI) proposed additions to the state’s anti-steering regulations (click HERE to read the full text of the proposal). The proposed rules would prevent an insurer from discussing DRPs or an alternative facility if the claimant informs the
California Insurance Department Hears Testimony on Proposed Anti-Steering Regulations
The California Autobody Association (CAA) testified at a public hearing Feb. 25 on the California Department of Insurance’s (DOI) proposed additions to the state’s anti-steering regulations (click HERE to read the full text of the proposal). The proposed rules would prevent an insurer from discussing DRPs or an alternative facility if the claimant informs the
Lawmakers Mull Federal Oversight of Insurers
Federal oversight of the insurance industry appears to be more likely as President Barack Obama and members of Congress roll out plans to address the country’s economic woes in what experts say is the largest regulatory overhaul since the Great Depression. House Financial Services Chair Barney Frank (D-Mass) said this week that his top priority
Lawmakers Mull Federal Oversight of Insurers
Federal oversight of the insurance industry appears to be more likely as President Barack Obama and members of Congress roll out plans to address the country’s economic woes in what experts say is the largest regulatory overhaul since the Great Depression. House Financial Services Chair Barney Frank (D-Mass) said this week that his top priority
House Members Urge Federal Oversight of Insurers
Several members of the House of Representatives urged newly sworn-in Treasury Secretary Timothy Geithner to increase federal oversight of the insurance industry in a letter last week. The letter’s six authors – Rep. Melissa Bean (D-Ill.), Rep. John Campbell (R-Calif,), Rep. Andre Carson (D-Ind.), Rep. Michael Castel (R-Del.), Rep. Dennis Moore (R-Kan.), Rep. Ed Royce
House Members Urge Federal Oversight of Insurers
Several members of the House of Representatives urged newly sworn-in Treasury Secretary Timothy Geithner to increase federal oversight of the insurance industry in a letter last week. The letter’s six authors – Rep. Melissa Bean (D-Ill.), Rep. John Campbell (R-Calif,), Rep. Andre Carson (D-Ind.), Rep. Michael Castel (R-Del.), Rep. Dennis Moore (R-Kan.), Rep. Ed Royce
Insurance Groups to Continue Opposing Federal Regulation in ’09
The National Association of Professional Insurance Agents (PIA) applauded three groups for their renewed commitment to oppose federal regulation of insurance and cited the meltdown of the U.S. financial sector as a reason to leave insurers under state regulation. The National Conference of Insurance Legislators (NCOIL) has announced plans to hold a summit of state