Regulation/Legislation

Given the 2011 residential property reforms, expect Floridas 2012 session to be much quieter in that area. The exceptions could be legislation on Citizens and the Cat Fund.

Financing future storms with debt seems popular with people who are getting lower rates today. That tune changes when the bill comes due.

The National Association of Insurance Commissioners late Tuesday approved a resolution asking both the Department of Health and Human Services and Congress to act promptly to exempt insurance agents from the medical loss ratio provision of the healthcare reform law.

The string of catastrophes that wrought so much destructionand caused so many insurer lossesearly in 2011 also spurred the formation of special purpose insurers (SPIs) in Bermuda with 17 formed this year, the largest number to date.

An intense effort is underway to have the Senate Banking Committee drop a provision in flood-insurance legislation that would require homeowners and businesses to purchase federal flood insurance even if their properties are protected by levees.

A House panel has passed legislation sought by business interests, including the American Insurance Association, that imposes a uniform 30-day presence requirement for non-resident personal income-tax returns.