Regulation/Legislation

Insurance industry trade groups had generally positive reactions to President Obama’s State of the Union address, but most are waiting to see what actions follow.

The North Carolina Insurance Underwriting Association, better known as the Beach Plan, must get back nearly $16.5 million it doled out to member insurance companies in 2009.

Trade groups representing state legislators are asking Congress to extend for one year—until July 12, 2012—the effective date for state implementation of the surplus lines reform and modernization law.

The Florida Chamber of Commerce has thrown its support behind this year’s omnibus insurance bill, which closely mirrors last year’s version that was vetoed by then-Gov. Charlie Crist.

Do insurance agents and brokers have to tell their clients what their financial incentives are? In New York, as of Jan. 1, 2011, the answer is yes. Lest you think this is a New York issue only, it's not.

Legislation establishing federal limits on medical liability claims has been introduced in the House.