RESOLUTION FAVORING CONTINUED STATE-BASED INSURANCE CONSUMER PROTECTION
|
|
- Anis Johnston
- 8 years ago
- Views:
Transcription
1 RESOLUTION FAVORING CONTINUED STATE-BASED INSURANCE CONSUMER PROTECTION NCSL STANDING COMMITTEE ON COMMUNICATIONS, FINANCIAL SERVICES & INTERSTATE COMMERCE WHEREAS, the states have sole regulatory authority for the regulation of the business of insurance as provided under the McCarran-Ferguson Act, and affirmed most recently by the Gramm-Leach-Bliley Act; and WHEREAS, state insurance regulation has been successful and effective for over 150 years, continuously adapting to address an ever-changing marketplace; and WHEREAS, the National Conference of State Legislators (NCSL) supports the continued state regulation of the business of insurance, and opposes proposals to create a federal insurance regulator or an optional federal charter (OFC); and WHEREAS, state unfair trade practice and other laws, as well as guaranty funds, provide protections for insurance consumers, individually and collectively; and WHEREAS, state taxpayer-supported insurance departments currently provide services to aid and educate consumers on insurance; and WHEREAS, the National Association of Insurance Commissioners (NAIC) maintains a Consumer Information Source (CIS) for consumers to use before purchasing insurance, providing access to key information about insurance companies, including: closed insurance complaints, licensing information, and financial data, as well as a means to file written complaints with the relevant state insurance department, and similar capabilities exist on many individual state insurance department web sites; and WHEREAS, state insurance commissioners and department personnel are more familiar with their own state laws, judicial rulings, and local market issues; and
2 WHEREAS, state insurance departments conduct market conduct exams far more frequently than their federal banking counterparts; and WHEREAS, state insurance commissioners are either elected or directly accountable to an elected Governor and Legislature, and are thus generally more responsive than a larger federal bureaucracy; and WHEREAS, there is no need for an extra federal taxpayer-supported bureaucratic layer of redundant regulation; and WHEREAS, the Financial Product Safety Commission Act of 2009 was introduced this spring as companion legislation S. 566 in the U.S. Senate by Senators Richard Durbin (D-IL), Edward Kennedy (D-MA), and Charles Schumer (D-NY),and as H.R in the U.S. House of Representatives by Congressmen William Delahunt (D-MA) and Brad Miller (D-NC); and WHEREAS, House Financial Services Committee Chairman Barney Frank (D- MA) introduced H.R. 3126, the Consumer Financial Protection Agency Act, a recommendation by President Barack Obama, on July 8; and WHEREAS, S. 566/H.R and H.R would establish a federal Financial Product Safety Commission and a Consumer Financial Protection Agency, respectively, with authority over consumer financial products; and WHEREAS, while intending to address predatory consumer financial products, S. 566 and H.R include a definition of Consumer Financial Product, and other provisions, that could be interpreted to extend the scope of the Financial Product Safety Commission over insurance products; and WHEREAS, while H.R contains a provision that reaffirms the McCarran- Ferguson Act, and, thus, state regulation over the business of insurance, S. 566 omits such language; and WHEREAS, H.R exempts the business of insurance except for credit, mortgage, and title insurance from its definition of Financial Activity; and THEREFORE, BE IT RESOLVED that NCSL believes that the protection of insurance consumers should continue to be based exclusively at the state level; and BE IT FURTHER RESOLVED that any Financial Product Safety Commission, Consumer Financial Protection Agency, or similar new or existing federal agency should not have direct or indirect jurisdiction over insurance products - including credit, mortgage, and title insurance - and/or insurance-related matters; and
3 BE IT FURTHER RESOLVED that NCSL believes that S. 566 /H.R and H.R should be amended to explicitly exclude all insurance products and insurance-related matters from the scopes of the Financial Product Safety Commission and the Consumer Financial Protection Agency, respectively; and BE IT FINALLY RESOLVED that a copy of this resolution shall be sent to state legislative leaders, Congressional sponsors of S. 566, H.R and H.R. 3126, and Members of the U.S. House Committee on Financial Services and the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Adopted by the NCSL Communications, Financial Services and Interstate Commerce Committee, July 21, Passed the full NCSL Business Meeting, July 23, 2009.
4 RESOLUTION IN OPPOSITION TO H.R THE NATIONAL INSURANCE CONSUMER PROTECTION ACT NCSL STANDING COMMITTEE ON COMMUNICATIONS, FINANCIAL SERVICES & INTERSTATE COMMERCE WHEREAS, insurance regulation, oversight, and consumer protection have traditionally and historically been powers reserved to state governments under the McCarran-Ferguson Act of 1945; and WHEREAS, state legislatures are more responsive to the needs of their constituents and the need for insurance products and regulation to meet their state s unique market demands; and WHEREAS, many states have recently enacted and amended state insurance laws to modernize market regulation and provide insurers with greater ability to respond to changes in market conditions; and WHEREAS, state legislatures, NCSL, the National Conference of Insurance Legislators (NCOIL), and the National Association of Insurance Commissioners (NAIC) continue to address uniformity issues between states by the adoption of model laws that address market conduct, product approval, agent and company licensing, and rate deregulation; and WHEREAS, initiatives are being contemplated by certain members of the United States Congress that would destroy the state system of insurance regulation and create an expensive, unwieldy and inaccessible federal bureaucracy all without consumer demand; and WHEREAS, such initiatives include H.R the National Insurance Consumer Protection Act proposed optional federal charter legislation that would bifurcate insurance regulation; and WHEREAS, H.R would result in a quagmire of federal and state directives that would promote ambiguity and confusion; and
5 WHEREAS, H.R would allow companies to opt out of state oversight and evade important state consumer protections; and WHEREAS, the mechanism set up under H.R does not, and cannot by its very nature, respond, as state regulation does, to states individual and unique insurance markets and constituent concerns; and WHEREAS, H.R would compromise state guaranty fund coverage, and employers could end up absorbing losses otherwise covered by these safety nets for businesses affected by insolvencies; and WHEREAS, many state governments derive general revenue dollars from the regulation of the business of insurance, including over $14 billion in premium taxes generated in 2006; and WHEREAS, H.R would eventually draw premium tax revenue from the states; and WHEREAS, H.R would ultimately impose the costs of a needless federal bureaucracy upon businesses and the public; NOW, THEREFORE BE IT RESOLVED that the National Conference of State Legislatures opposes H.R and any other such federal legislation in successive Congresses that would threaten the power of state legislatures, governors, insurance commissioners, and attorneys general to oversee, regulate, and investigate the business of insurance, and to protect consumers; and BE IT FURTHER RESOLVED that a copy of this resolution be made available in model form to each state legislature for its consideration; and BE IT FURTHER RESOLVED that a copy of this resolution be printed and forwarded to members of the United States Senate Committee on Banking, Housing and Urban Affairs and the United States House of Representatives Committee on Financial Services. Adopted by the NCSL Communications, Financial Services and Interstate Commerce Committee, July 21, Passed the full NCSL Business Meeting, July 23, 2009.
6 RESOLUTION IN OPPOSITION TO THE ADMINISTRATION'S PROPOSED PLANS FOR A FEDERAL OFFICE OF NATIONAL INSURANCE NCSL STANDING COMMITTEE ON COMMUNICATIONS, FINANCIAL SERVICES & INTERSTATE COMMERCE WHEREAS, the Administration s Financial Regulatory Reform Report states, For over 135 years, insurance has primarily been regulated by the states, which has led to a lack of uniformity and reduced competition across state and international boundaries, resulting in inefficiency, reduced product innovations, and higher costs to consumers; and, WHEREAS, the Administration Report states, Given the importance of a healthy insurance industry to the well functioning of our economy, it is important that we establish a federal office of National Insurance (ONI) within the Treasury, and that we develop a modern regulatory framework for insurance; and WHEREAS, the Administration's proposal would grant the ONI the ability to monitor all aspects of the insurance industry, including gathering information, identifying insurance-related regulatory gaps, and have the authority to enter into international agreements and increase international cooperation in regards to insurance regulation; and WHEREAS, the Administration further recommends increased national uniformity through either a federal charter or effective action by states, "as our current insurance regulatory system is highly fragmented, inconsistent, and inefficient; and WHEREAS, the Administration Report fails to provide any evidence showing that state regulation of the business of insurance has led to or even contributed to the current financial crisis; and WHEREAS, the Administration Report proposes that the ONI would have the authority to negotiate foreign agreements concerning insurance without any assurance that state insurance laws and regulations would be maintained;
7 WHEREAS, the National Conference of State Legislatures (NCSL) has consistently supported the state regulation of the business of insurance; and WHEREAS, NCSL acknowledges the responsibility of states to adjust state systems to meet the needs of the modern economy; however, any changes to the current framework must preserve state flexibility and authority to meet the goals of modernization. THEREFORE BE IT RESOLVED, that NCSL opposes the Administration's proposal to establish a federal Office of National Insurance within the Treasury Department. Adopted by the NCSL Communications, Financial Services and Interstate Commerce Committee, July 21, Passed the full NCSL Business Meeting, July 23, 2009.
STATE INSURANCE REGULATION
STATE INSURANCE REGULATION This article provides an overview of state insurance regulation, including a brief history, discussion of state regulatory roles and institutions involved. A Brief History Benjamin
More informationThe Surplus Lines Insurance Market
WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RS22506 Surplus Lines Insurance: Background and Current Legislation Baird Webel, Government and Finance Division June 27,
More informationTestimony of SENATOR KEMP HANNON. Chair, Health Committee New York Senate. Co-Chair, NCSL Task Force to Streamline and Simplify Insurance Regulation
Testimony of SENATOR KEMP HANNON Chair, Health Committee New York Senate Co-Chair, NCSL Task Force to Streamline and Simplify Insurance Regulation On behalf of the NATIONAL CONFERENCE OF STATE LEGISLATURES
More informationACLI LAW & COMPLIANCE BOSTON 2009 MARKET CONDUCT REFORM
ACLI LAW & COMPLIANCE BOSTON 2009 MARKET CONDUCT REFORM BACKGROUND Beginning in 2002, both a GAO Report and the NCOIL commissioned Price Waterhouse Coopers Report recommended significant market conduct
More informationThe Dodd-Frank Wall Street Reform and Consumer Protection Act: Insurance Provisions
The Dodd-Frank Wall Street Reform and Consumer Protection Act: Insurance Provisions Baird Webel Specialist in Financial Economics August 17, 2010 Congressional Research Service CRS Report for Congress
More informationRecent and Expected Regulatory Reforms
1 1 Chris Longeway, Allstate Insurance Company Kimberly Shaul, Deputy Commissioner of Insurance, State of Wisconsin Kevin Fitzgerald, Partner, Foley & Lardner LLP Randy Wichinski, Managing Director, Insurance
More informationREFERENCE ACTION ANALYST STAFF DIRECTOR or BUDGET/POLICY CHIEF. 1) Insurance & Banking Subcommittee 13 Y, 0 N, As CS Cooper Cooper
HOUSE OF REPRESENTATIVES STAFF ANALYSIS BILL #: CS/HB 1227 Surplus Lines Insurance SPONSOR(S): Insurance & Banking Subcommittee, Hager TIED BILLS: IDEN./SIM. BILLS: SB 1816 REFERENCE ACTION ANALYST STAFF
More informationMarket Reaction to Potential Federal Regulation in the Insurance Industry
Market Reaction to Potential Federal Regulation in the Insurance Industry Stephen G. Fier 1 and Andre P. Liebenberg 2 Abstract: The effect of federal insurance regulation has been a perennial topic of
More informationSUBMITTED BY: INTERNATIONAL COUNCIL OF SHOPPING CENTERS 1033 N. FAIRFAX STREET, SUITE 404 ALEXANDRIA, VA 22314 (703) 549-7404
STATEMENT OF ELIZABETH I. HOLLAND ON BEHALF OF THE INTERNATIONAL COUNCIL OF SHOPPING CENTERS ------------- ON THE COMMUNITY CHOICE IN REAL ESTATE ACT (H.R. 3424) ------------- TO THE FINANCIAL INSTITUTIONS
More informationHealth Care Reform: The Need for Pragmatic, Bipartisan Solutions
August 7, 2009 Health Care Reform: The Need for Pragmatic, Bipartisan Solutions For many years, the American people have sent two clear messages about the nation s healthcare system. First, Americans want
More informationStatement of the Massachusetts Mutual Life Insurance Company. before the
Statement of the Massachusetts Mutual Life Insurance Company before the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises of the House Financial Services Committee On Reforming
More informationSTATEMENT OF THE AMERICAN COUNCIL OF LIFE INSURERS BEFORE THE SUBCOMITTEE ON HOUSING AND INSURANCE OF THE HOUSE COMMITTEE ON FINANCIAL SERVICES
STATEMENT OF THE AMERICAN COUNCIL OF LIFE INSURERS BEFORE THE SUBCOMITTEE ON HOUSING AND INSURANCE OF THE HOUSE COMMITTEE ON FINANCIAL SERVICES ON THE FEDERAL INSURANCE OFFICE S REPORT ON MODERNIZING INSURANCE
More informationHOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS SUMMARY ANALYSIS
HOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS BILL #: HB 291 FINAL HOUSE FLOOR ACTION: SPONSOR(S): Santiago 115 Y s 0 N s COMPANION BILLS: SB 496 GOVERNOR S ACTION: Approved SUMMARY ANALYSIS HB 291 passed
More informationChapter 27 Government Regulation of Private Insurers in the United States
Chapter 27 Government Regulation of Private Insurers in the United States Overview You ve probably heard of The Food and Drug Administration (FDA), The Security and Exchange Commission (SEC), and the Environmental
More informationMarket Analysis Report
1 Market Analysis Report November 2007 Washington State Office of the Insurance Commissioner Mike Kreidler - State Insurance Commissioner www.insurance.wa.gov 2 Background In 2007, the Legislature passed
More informationDepartment of Insurance
Role and Overview The (INS) provides consumer protection through education and fair but vigilant regulation while promoting a stable and competitive insurance marketplace. The Department is charged under
More informationFSI BRIEFING April 5, 2010 Harmonizing the Regulation & Supervision of Broker-Dealers and Investment Advisers
FSI BRIEFING April 5, 2010 Harmonizing the Regulation & Supervision of Broker-Dealers and Investment Advisers Introduction On June 17, 2009, the Obama Administration released its plan for reforming the
More informationDepartment of Legislative Services Maryland General Assembly 2011 Session
House Bill 959 Economic Matters Department of Legislative Services Maryland General Assembly 2011 Session FISCAL AND POLICY NOTE Revised (Delegate Davis) Insurance - Surplus Lines HB 959 Finance This bill
More informationCompliance Issues for Captives
Compliance Issues for Captives State Taxation and Regulation in the Wake of the Nonadmitted and Reinsurance Reform Act of 2010 Kathy Davis Kevin Moriarty Downs Rachlin Martin PLLC Downs Rachlin Martin
More informationModernizing the Insurance Regulatory Structure: The NAIC Framework for a National System of State-Based Regulation
Modernizing the Insurance Regulatory Structure: The NAIC Framework for a National System of State-Based Regulation Summary The National Association of Insurance Commissioners (NAIC) wants to continue the
More informationSECURITIES AND EXCHANGE COMMISSION Washinlton, D. C. 20549
SECURITIES AND EXCHANGE COMMISSION Washinlton, D. C. 20549 ( 2 0 2 ) 2 7 2.- 2 650 CHANGING FINANCIAL SERVICES AND REGULATION Address by John R. Evans Commissioner North American Securities Administrators
More informationEnrolled Copy S.J.R. 6
1 JOINT RESOLUTION URGING CONGRESS TO SUPPORT 2 EQUITY AND SALES TAX FAIRNESS 3 2015 GENERAL SESSION 4 STATE OF UTAH 5 Chief Sponsor: Wayne A. Harper 6 House Sponsor: Steve Eliason 7 8 LONG TITLE 9 General
More informationWHAT COULD YOU DO WITH $70 BILLION DOLLARS? HR 676: Healthcare Savings for Healthier Cities
WHAT COULD YOU DO WITH $70 BILLION DOLLARS? HR 676: Healthcare Savings for Healthier Cities The ABCs of Improved Medicare-for-All A Primer for the Kingston City School District Here s an example of how
More informationThe Unintended Effects of
The Unintended Effects of Healthcare Reform TOM SUROVY, PRINCIPLE COMPLIANCE ATTORNEY CONTENTS CHILD-ONLY POLICIES... 3 PRESCRIPTIONS FOR NONPRESCRIPTION OVER-THE-COUNTER DRUGS... 4 COMMISSIONS FOR INSURANCE
More informationDODD-FRANK AND THE FUTURE ROLE OF STATE SUPERVISION
DODD-FRANK AND THE FUTURE ROLE OF STATE SUPERVISION WHITE PAPER AUGUST 2010 CONFERENCE OF STATE BANK SUPERVISORS 1155 Connecticut Ave., NW, 5 th Floor Washington DC 20036-4306 (202) 296-2840 www.csbs.org
More information1st Session 110 234 FDIC ENFORCEMENT ENHANCEMENT ACT
110TH CONGRESS REPORT " HOUSE OF REPRESENTATIVES! 1st Session 110 234 FDIC ENFORCEMENT ENHANCEMENT ACT JULY 16, 2007. Committed to the Committee of the Whole House on the State of the Union and ordered
More informationThe Dodd-Frank Wall Street Reform and Consumer Protection Act: Standards of Conduct of Brokers, Dealers, and Investment Advisers
The Dodd-Frank Wall Street Reform and Consumer Protection Act: Standards of Conduct of Brokers, Dealers, and Investment Advisers Michael V. Seitzinger Legislative Attorney August 19, 2010 Congressional
More informationTerrorism Risk Insurance Program Reauthorization
January 13, 2015 Terrorism Risk Insurance Program Reauthorization On January 12, 2015, the President signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2015. 1 This Act reauthorizes
More informationBEFORE THE U.S. HOUSE OF REPRESENTATIVES FINANCIAL SERVICES COMMITTEE CAPITAL MARKETS, INSURANCE AND GOVERNMENT SPONSORED ENTERPRISES SUBCOMMITTEE
TESTIMONY OF VERMONT STATE REPRESENTATIVE MARK YOUNG, NATIONAL CONFERENCE OF INSURANCE LEGISLATORS (NCOIL) VICE CHAIR OF THE STATE-FEDERAL RELATIONS COMMITTEE BEFORE THE U.S. HOUSE OF REPRESENTATIVES FINANCIAL
More informationStatement by. Mark E. Van Der Weide. Deputy Director. Division of Banking Supervision and Regulation. Board of Governors of the Federal Reserve System
For release on delivery 10:00 a.m. EDT April 28, 2015 Statement by Mark E. Van Der Weide Deputy Director Division of Banking Supervision and Regulation Board of Governors of the Federal Reserve System
More informationSummary of Budget Request
John R. Kasich, Governor Mary Taylor, Lt. Governor/Director 50 West Town Street Third Floor Suite 300 Columbus, OH 43215-4186 (614) 644-2658 www.insurance.ohio.gov Ohio Department of Insurance Budget Testimony,
More informationRegistration of Municipal Advisors [Release No. 34-63576; File No. S7-45-10]
1001 PENNSYLVANIA AVE., NW SUITE 500 SOUTH WASHINGTON, DC 20004 TEL 202-289-4322 FAX 202-628-2507 E-Mail rich@fsround.org www.fsround.org February 22, 2011 RICHARD M. WHITING EXECUTIVE DIRECTOR AND GENERAL
More informationTax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!)
Tax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!) Understanding Federal Statutes and Legislation Federal statutes provide the foundation of the tax system in the United States.
More informationJoseph C. Kohmann Chief Financial Officer and Treasurer Westfield Group May 20, 2014
Testimony of the Property Casualty Insurers Association of America (PCI) Before the Committee on Financial Services, Subcommittee on Housing and Insurance United States House of Representatives Joseph
More informationThe Consumer Financial Protection Bureau - A History
Consumer Financial Protection Bureau Two Years In and Just Beginning the Baby Steps By Thomas J. King, Standing Chapter 13 Trustee for the Eastern District of Wisconsin The Consumer Financial Protection
More informationSubcommittee on Courts and Competition Policy United States House of Representatives
Subcommittee on Courts and Competition Policy United States House of Representatives Hearing on H.R. 3596, the Health Insurance Industry Antitrust Enforcement Act of 2009 Statement of James D. Hurley,
More informationGAO LIFE INSURANCE SETTLEMENTS. Regulatory Inconsistencies May Pose a Number of Challenges. Report to the Special Committee on Aging, U.S.
GAO United States Government Accountability Office Report to the Special Committee on Aging, U.S. Senate July 2010 LIFE INSURANCE SETTLEMENTS Regulatory Inconsistencies May Pose a Number of Challenges
More informationOne Columbus 10 West Broad Street, Suite 2100 Columbus, Ohio 43215-3422 telephone 614.221.3155 facsimile 614.221.0479 www.baileycavalieri.
BAILEY CAVALIERI LLC ATTORNE YS AT LA W One Columbus 10 West Broad Street, Suite 2100 Columbus, Ohio 43215-3422 telephone 614.221.3155 facsimile 614.221.0479 www.baileycavalieri.com direct dial: 614.229.3301
More informationState of Idaho DEPARTMENT OF INSURANCE BULLETIN NO. 11-08
C.L. BUTCH OTTER Governor State of Idaho DEPARTMENT OF INSURANCE 700 West State Street, 3rd Floor P.O. Box 83720 Boise, Idaho 83720-0043 Phone (208) 334-4250 FAX (208) 334-4398 http://www.doi.idaho.gov
More informationINSURANCE INDUSTRY IMPLICATIONS OF THE DODD-FRANK ACT
CLIENT MEMORANDUM INSURANCE INDUSTRY IMPLICATIONS OF THE DODD-FRANK ACT The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act ) has significant implications for the insurance
More informationGAO COMBATING TERRORISM. Observations on Options to Improve the Federal Response. Testimony
GAO For Release on Delivery Expected at 3:00 p.m. Tuesday, April 24, 2001 United States General Accounting Office Testimony Before the Subcommittee on Economic Development, Public Buildings, and Emergency
More informationRESOLUTION 108-2011. Injured Patients and Families Compensation Fund. Health Insurance Coverage and Access
RESOLUTION 108-2011 Albert L. Fisher, MD 1 2 3 4 5 6 7 Whereas, Wisconsin physicians have paid billions of dollars into the Injured Patients and Families Compensation Fund over the last 35 years, for which
More informationPublic Roundtable on. PR 18-502, Medicare Supplement Insurance. Minimum Standards Approval Resolution of 2009".
Government of the District of Columbia Department of Insurance, Securities and Banking Testimony of Philip Barlow Associate Commissioner Public Roundtable on PR 18-502, Medicare Supplement Insurance Minimum
More informationH-232 U.S. Capitol 522 Hart Senate Office Building Washington, DC 20515 Washington, DC 20510
The Honorable Nancy Pelosi The Honorable Harry Reid Speaker, U.S. House of Representatives Majority Leader, U.S. Senate H-232 U.S. Capitol 522 Hart Senate Office Building Washington, DC 20515 Washington,
More informationGOVERNMENTAL AFFAIRS AND LEGAL MATTERS (A)
GOVERNMENTAL AFFAIRS AND LEGAL MATTERS (A) 50 Medical Liability Insurance Education for Employed Physicians Introduced by the Fifth and Sixth Districts RESOLVED, That the Medical Society of the State of
More informationInsurance Regulation: State vs Federal
Insurance Regulation: State vs Federal Insurance Regulation: State vs Federal Prepared for The Insurance Institute of Kentucky Prepared by Jarrod Wolfe, Researcher March 15, 2014 Table of Contents Executive
More informationREPORT OF THE JUDICIAL COUNCIL FAMILY LAW ADVISORY COMMITTEE ON RECOMMENDING ADOPTION OF THE 2008 UIFSA
Approved by the Judicial Council December 4, 2009 REPORT OF THE JUDICIAL COUNCIL FAMILY LAW ADVISORY COMMITTEE ON RECOMMENDING ADOPTION OF THE 2008 UIFSA The Family Law Advisory Committee was asked to
More informationInsolvency Trends 2010 Mid Year Report A Publication of the National Conference of Insurance Guaranty Funds
Insolvency Trends 2010 Mid Year Report A Publication of the National Conference of Insurance Guaranty Funds Welcome to the 2010 mid-year issue of the NCIGF s Insolvency Trends. Authored by the legal and
More informationTESTIMONY ALLAN E. O BRYANT EXECUTIVE VICE PRESIDENT HEAD OF INTERNATIONAL MARKETS AND OPERATIONS REINSURANCE GROUP OF AMERICA, INCORPORATED
TESTIMONY OF ALLAN E. O BRYANT EXECUTIVE VICE PRESIDENT HEAD OF INTERNATIONAL MARKETS AND OPERATIONS REINSURANCE GROUP OF AMERICA, INCORPORATED HEARING ON U.S. INSURANCE SECTOR: INTERNATIONAL COMPETITIVENESS
More informationCommunications Policy & The Congress
Communications Policy & The Congress Remarks by Walter B. McCormick, Jr. USTelecom President and CEO Media Institute April 22, 2015 Thank you for inviting me to be here today. It is an honor to address
More informationTitle V Preventing Fraud and Abuse. Subtitle A- Establishment of New Health and Human Services and Department of Justice Health Care Fraud Positions
Title V Preventing Fraud and Abuse Subtitle A- Establishment of New Health and Human Services and Department of Justice Health Care Fraud Positions Sec. 501. Health and Human Services Senior Advisor There
More informationTestimony of Progressive Casualty Insurance Company. Before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Testimony of Progressive Casualty Insurance Company Before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Committee on Financial Services in the United States House
More informationAuthorized By: Donald Bryan, Acting Commissioner, Department of Banking and Insurance.
INSURANCE DEPARTMENT OF BANKING AND INSURANCE DIVISION OF INSURANCE Medical Malpractice Liability Insurance Purchasing Alliances Proposed New Rules: N.J.A.C. 11:27-9 Authorized By: Donald Bryan, Acting
More informationTestimony before the House Insurance Committee
Testimony before the House Insurance Committee Public hearing on HB 717 Creating an Office of Consumer Advocate for Health Insurance Presented by Carolyn Morris Director, Bureau of Consumer Services February
More informationThank you again for holding this important hearing. We appreciate having the opportunity to voice our viewpoint. ********
Testimony by Kristina Hebert President of the Marine Industries Association of South Florida and on behalf of the United States Superyacht Association before the House Small Business Subcommittee on Investigations,
More informationREPORT ON LIMITED LINES INSURANCE JANUARY 15, 2014. MSAR No. 9844
REPORT ON LIMITED LINES INSURANCE JANUARY 15, 2014 MSAR No. 9844 For more information concerning this document, please contact: Nancy J. Egan Assistant Director of Government Relations Maryland Insurance
More informationFAQ What is the National Association of Insurance Commissioners? How is the NAIC Organized? When Does the NAIC Meet?
FAQ What is the National Association of Insurance Commissioners? The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and
More informationTestimony of Sean Dilweg, Wisconsin Insurance Commissioner. Before the United States Senate Special Committee on Aging
Testimony of Sean Dilweg, Wisconsin Insurance Commissioner Before the United States Senate Special Committee on Aging Regarding: Medicare Advantage Marketing & Sales May 16, 2007 10:30 a.m. Dirksen Senate
More informationBANKING AND INSURANCE
Mission The mission of the Department of Banking and Insurance is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers
More informationI will start with a brief history and then briefly outline the ratemaking process. History of Property Insurance Legislation in NC
Thank Chairs My name is Rose Vaughn Williams. I am Legislative Counsel to the Department of Insurance. I ve been asked today to give the committee background on the rate making system for property insurance
More informationJAN 2 3 2015. a useful tool in the credit market to expand the pool of. potential buyers for residential real property and provide
SmBm NOmYr) JAN 2 3 20 A BILL FOR AN ACT THE SENATE TWENTY-EIGHTH LEGISLATURE, 20 STATE OF HAWAII RELATING TO SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT. BE IT ENACTED BY THE LEGISLATURE OF
More informationCONTEMPORARY TRENDS IN GENERAL INSURANCE - U. S. A. by C. K. Khury
CONTEMPORARY TRENDS IN GENERAL INSURANCE - U. S. A. by C. K. Khury Overview The general insurance industry in the United States has never lacked for issues or challenges. Scholars of the business can point
More informationStatement of. Thomas J. Curry Comptroller of the Currency
Statement of Thomas J. Curry Comptroller of the Currency At the Interagency Outreach Meeting on The Economic Growth and Regulatory Paperwork Reduction Act Chicago October 19, 2015 Good Morning. I d like
More informationLouisiana Insurers Conference. Annual Louisiana Insurance Compliance Seminar & Legislative Review 2015. Van R. Mayhall, III
Louisiana Insurers Conference Annual Louisiana Insurance Compliance Seminar & Legislative Review 2015 Van R. Mayhall, III ORSA Own Risk and Solvency Assessment Act 196 Enacts a new ORSA Subpart of the
More informationOverview of assets, liabilities and capital of financial intermediaries and regulatory supervision of them
Mathematics 483, Fall 2014 Overview of assets, liabilities and capital of financial intermediaries and regulatory supervision of them Real assets in the economy are assets that are used for production
More informationTHE NON-ADMITTED AND REINSURANCE REFORM ACT AND NEW JERSEY'S SURPLUS LINES INSURANCE GUARANTY ASSOCIATION
THE NON-ADMITTED AND REINSURANCE REFORM ACT AND NEW JERSEY'S SURPLUS LINES INSURANCE GUARANTY ASSOCIATION Susan Stryker, Esq. BRESSLER, AMERY & ROSS, P.C. (973) 966-9681 Any article addressing the implementation
More informationBill 18-1008, Title Insurance Regulation. Clarification Act of 2010
Government of the District of Columbia Department of Insurance, Securities and Banking Testimony of Philip Barlow Associate Commissioner Insurance Bureau Bill 18-1008, Title Insurance Regulation Clarification
More informationAutomatic IRA Legislation
Automatic IRA Legislation September 2010 Aon Consulting 2010 Aon Corporation Brief Description: The Senate and House have both introduced proposals requiring employers not maintaining pension plans to
More informationHealth Reform Implementation: Immediate Health Insurance Reforms Become Effective
No Annual or Prohibits the establishment of lifetime limits on the dollar value of essential health benefits for any participant or beneficiary, or annual limits except those defined as restricted as determined
More informationWashington Update by Frank Salinger Vice President, Government Relations Advanta Corporation
Washington Update by Frank Salinger Vice President, Government Relations Advanta Corporation Considering this column is going to press the week Congress returns from the July 4 th recess (or, for those
More informationSLSOT Bulletin. Guidelines for Texas Surplus Lines Agents Compliance with the Nonadmitted & Reinsurance Reform Act
TO: SLSOT E-Bulletin Subscriber DATE: June 23, 2011 Guidelines for Texas Surplus Lines Agents Compliance with the Nonadmitted & Reinsurance Reform Act This information is provided by the to provide general
More informationFROM: James Ballentine, Executive Vice President, Congressional Relations and Public Policy
James Ballentine Executive Vice President Congressional Relations and Political Affairs 202-663-5359 jballent@aba.com April 17, 2014 TO: Members of the Senate Banking Committee FROM: James Ballentine,
More informationCRS Report for Congress Received through the CRS Web
Order Code RS20344 Updated January 19, 2001 CRS Report for Congress Received through the CRS Web Summary Electronic Signatures: Technology Developments and Legislative Issues Richard M. Nunno Analyst in
More informationReview of the Affordable Health Choices Act (Kennedy Bill)
Review of the Affordable Health Choices Act (Kennedy Bill) Below is a review of those measures contained in the Affordable Health Choices Act introduced by Senator Edward Kennedy (D-MA) via the Senate
More informationReport on CBAI Staff Visit to Washington July 13-17, 2015
Report on CBAI Staff Visit to Washington July 13-17, 2015 Urges Support for Community Bank Positions CBAI vice president of federal governmental relations David Schroeder visited every office of the Illinois
More informationSTATEMENT OF ROBERT A. WADSWORTH CHAIRMAN AND CEO PREFERRED MUTUAL INSURANCE COMPANY ON BEHALF OF THE
STATEMENT OF ROBERT A. WADSWORTH CHAIRMAN AND CEO PREFERRED MUTUAL INSURANCE COMPANY ON BEHALF OF THE NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES AT THE HEARING ON INSURANCE REGULATION REFORM BEFORE
More informationSENATE CONCURRENT RESOLUTION No. 101 STATE OF NEW JERSEY. 213th LEGISLATURE INTRODUCED MAY 8, 2008
SENATE CONCURRENT RESOLUTION No. 0 STATE OF NEW JERSEY th LEGISLATURE INTRODUCED MAY, 00 Sponsored by: Senator SHIRLEY K. TURNER District (Mercer) SYNOPSIS Proposes constitutional amendment to permit Legislature
More information1 SR89 2 169866-1. 3 By Senator Reed 4 RFD: 5 First Read: 21-MAY-15. Page 0
1 SR89 2 169866-1 3 By Senator Reed 4 RFD: 5 First Read: 21-MAY-15 Page 0 1 169866-1:n:05/21/2015:JGW/JGW 2 3 4 5 6 7 8 CREATION OF A TASK FORCE TO STUDY THE PSYCHIATRIC 9 RESIDENTIAL TREATMENT FACILITIES
More informationHow To Pass The Health Insurance Bill In California
July 2, 2014 Proposition X: Requires Approval of Health Insurance Rates L E G I S L A T I V E A N A L Y S T S O F F I C E Presented to: Senate Health Committee Hon. Ed Hernandez, Chair and Assembly Health
More informationHOUSE OF REPRESENTATIVES STAFF ANALYSIS SUMMARY ANALYSIS
BILL #: HB 291 Warranty Associations SPONSOR(S): Santiago TIED BILLS: None IDEN./SIM. BILLS: SB 496 HOUSE OF REPRESENTATIVES STAFF ANALYSIS REFERENCE ACTION ANALYST STAFF DIRECTOR or BUDGET/POLICY CHIEF
More informationChairman Wells and Members of the Committee:
Statement of Lynne Ross Hearing on the Elected Attorney General Implementation and Legal Service Establishment Amendment Act of 2013 Before the D.C. Chairman Wells and Members of the Committee: Thank you
More informationJAN 2 2 2016. Hawaii's public charter schools have provided parents, their. children, and communities with innovative and meaningful
THE SENATE TWENTY-EIGHTH LEGISLATURE, 0 STATE OF HAWAII JAN 0 A BILL FOR AN ACT S.B. NO.ZW RELATING TO THE EMPLOYMENT OF ATTORNEYS BY PUBLIC CHARTER SCHOOLS. BE IT ENACTED BY THE LEGlSLATURE OF THE STATE
More informationTESTIMONY ON HOUSE BILL 1409 DELINQUENT PROPERTY TAX COLLECTION/SALES PRESENTED TO THE HOUSE URBAN AFFAIRS COMMITTEE
TESTIMONY ON HOUSE BILL 1409 DELINQUENT PROPERTY TAX COLLECTION/SALES PRESENTED TO THE HOUSE URBAN AFFAIRS COMMITTEE BY LISA SCHAEFER GOVERNMENT RELATIONS MANAGER November 12, 2013 Harrisburg, PA On behalf
More informationHOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS SUMMARY ANALYSIS
HOUSE OF REPRESENTATIVES FINAL BILL ANALYSIS BILL #: CS/HB 509 FINAL HOUSE FLOOR ACTION: SPONSOR(S): Regulatory Affairs Committee; Van Zant 112 Y s 0 N s COMPANION BILLS: (SB 356) GOVERNOR S ACTION: Approved
More informationThe Structure and Function of the Legislative Branch Notes. Section 1: The Senate and the House of Representatives
Attachment A The Structure and Function of the Legislative Branch Notes Section 1: The Senate and the House of Representatives The Role of Congress Congress is the lawmaking or legislative body of our
More informationREPORT ON LIFE SETTLEMENTS ACT TO THE 24 TH LEGISLATURE
REPORT ON LIFE SETTLEMENTS ACT TO THE 24 TH LEGISLATURE Submitted Pursuant to Act 177, Session Laws of Hawaii (2008) Prepared by the Insurance Division Department of Commerce and Consumer Affairs State
More informationKansas Legislator Briefing Book 2015
K a n s a s L e g i s l a t i v e R e s e a r c h D e p a r t m e n t Kansas Legislator Briefing Book 2015 J-1 Kansas Health Insurance Mandates J-2 Payday Loan Regulation J-3 Uninsured Motorists Financial
More informationINDIANA S PARTICIPATION IN HEALTH CARE REFORM & AFFORDABLE CARE ACT (ACA) IMPLEMENTATION DISCUSSIONS
INDIANA S PARTICIPATION IN HEALTH CARE REFORM & AFFORDABLE CARE ACT (ACA) IMPLEMENTATION DISCUSSIONS MARCH 15 & 16: Lawren Mills, Office of the Governor, attended the National Governor s Association (NGA)
More informationPlan for Prosperity. A Regulatory Relief Agenda to Empower Local Communities
Plan for Prosperity A Regulatory Relief Agenda to Empower Local Communities February 2013 Plan for Prosperity: A Regulatory Relief Agenda to Empower Local Communities America s 7,000 community banks are
More informationHow To Pass The Preserve Access To Manufactured Housing Act
Protect Availability of Financing for Affordable Manufactured Housing Urge Representatives to Co Sponsor the Preserving Access to Manufactured Housing Act (May 2013) BACKGROUND: Representatives Stephen
More informationNeed to Know. New. Oklahoma Law
Workers Compensation Deregulation Alert: What Employers Need to Know about New the Oklahoma Law sponsored by May 2013 By Peter Rousmaniere and Jack Roberts What Employers Need to Know In early May, Oklahoma
More informationWORKERS COMPENSATION OPTIONS FOR TRIBES IN WASHINGTON STATE
WORKERS COMPENSATION OPTIONS FOR TRIBES IN WASHINGTON STATE Peter S. Hicks WILLIAMS KASTNER & GIBBS PLLC 2005. ALL RIGHTS RESERVED Peter S. Hicks I. INTRODUCTION. This paper provides an overview of the
More informationStatement Of. The National Association of Chain Drug Stores. For. U.S. Senate Special Committee on Aging. Hearing on:
Statement Of The National Association of Chain Drug Stores For U.S. Senate Special Committee on Aging Hearing on: 10 Years Later: A Look at the Medicare Prescription Drug Program 2:30 p.m. 366 Dirksen
More informationHouse Bill 2679 - Implementation of the Federal Nonadmitted and Reinsurance Reform Act of 2010 ( NRRA )
OREGON INSURANCE DIVISION BULLETIN INS 2011-1 TO: RE: All Surplus Lines Licensees House Bill 2679 - Implementation of the Federal Nonadmitted and Reinsurance Reform Act of 2010 ( NRRA ) The purpose of
More informationDodd Frank Act Consumer Financial Protection Bureau Mortgage Lending
Dodd Frank Act Consumer Financial Protection Bureau Mortgage Lending A Briefing for the Texas House Investments and Financial Services Committee John C. Fleming Consumer Financial Protection Bureau (CFPB)
More informationFinancial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R.
Financial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R. 3126 David H. Carpenter Legislative Attorney Mark Jickling Specialist
More informationSTATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37243-5065 615-741-6007 BULLETIN
PHIL BREDESEN GOVERNOR STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37243-5065 615-741-6007 BULLETIN PAULA A. FLOWERS COMMISSIONER TO: FR: RE:
More informationRegulatory Practice Letter November 2012 RPL 12-20
Regulatory Practice Letter November 2012 RPL 12-20 Private Student Lending - CFPB Reports Executive Summary The Bureau of Consumer Financial Protection ( CFBP or Bureau ) recently released two reports
More information11/15/06 12:20pm PROPERTY & CASUALTY INSURANCE REFORM COMMITTEE FINAL RECOMMENDATIONS (11/15/06)
PROPERTY & CASUALTY INSURANCE REFORM COMMITTEE FINAL RECOMMENDATIONS (11/15/06) Residential Insurance Market/Consumer Issues 1. Transparency for consumers (residential and commercial). Require the premium
More information