Regulation/Legislation

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  State Division of Insurance to Report Losses from Boston Marathon Bombings

  By Chad Hemenway, PropertyCasualty360.com  |  May 17, 2013

  The Massachusetts Department of Insurance says it has a data call out to the insurance industry in order draft a report on the April 15 bombings at the Boston Marathon.

• NAMIC Opposes Mandatory Coverage for Gun Owners in D.C.

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 17, 2013

  Under the proposal, the state’s current 2,000 registered gun owners and all future buyers would have to take out a $250,000 policy covering damage from any gun use, even willful and illegal acts.

• New Medicare Secondary Payer Amendment Proposed

  By Arthur D. Postal, PropertyCasualty360.com  |  May 16, 2013

  Congress is again being asked to amend the Medicare Secondary Payment Act, just six months after enacting reform legislation dealing with the issue, which took five years to pass congressional muster.

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  New York State Orders RelayRides to Stop Renting Third-Party Autos

  By Bonnie Cavanaugh, Property Casualty360.com  |  May 16, 2013

  RelayRides, a car-sharing service matching owners with third-party renters, agreed to stop conducting business in New York after Superintendent of Financial Services Benjamin M. Lawsky called its insurance coverage “illegal and inadequate.”

• Effort to Delay Some NFIP Rate Hikes Dies in Congress, For Now

  By Arthur D. Postal, PropertyCasualty360.com  |  May 15, 2013

  An effort to delay federal flood insurance rate hikes on “grandfathered” properties for five years was rejected by the Senate late Tuesday.

• N.Y. Senate Tries Again with Auto Fraud-Fighting Bills

  By Chad Hemenway, PropertyCasualty360.com  |  May 14, 2013

  The New York Senate has passed a number of measures meant to corral auto insurance fraud in the Empire State.

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  House, Senate Propose Generous Farm Bills

  By Arthur D. Postal, PropertyCasualty360.com  |  May 14, 2013

  Crop insurance coverage appears likely to be expanded as House and Senate committees again take up providing 5-year reauthorization of farm programs.

• Indiana Governor Signs Workers Comp Reform

  By Chad Hemenway, PropertyCasualty360.com  |  May 14, 2013

  The law imposes a hospital fee schedule with a maximum reimbursement rate of 200 percent of the Medicare rate for treatments and procedures to workers’ compensation claimants.

• NFIP Rate Hike Delay Unlikely

  By Arthur D. Postal, PropertyCasualty360.com  |  May 13, 2013

  Members of the Senate are scrambling in advance of a May 14 vote to craft an amendment dealing with politically-sensitive hikes in federal flood insurance premiums that would retain the rate structure imposed by a previous law to extend the program.

• New Jersey to Adopt Homeowners Policy Summary Sheet

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 13, 2013

  In the wake of Superstorm Sandy, insurers in New Jersey will be required to add a summary sheet to homeowners policies issued to consumers.

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  In Defense of Ohio’s Workers’ Comp. Rebates

  By Bill Teets, Director of Communications, Ohio Bureau of Workers’ Compensation  |  May 10, 2013

  Ohio rebates to public and private employers is not politically motivated, but rather part of an initiative to deal with assets significantly above established guidelines.

• Senate Majority Leader Seeks Compromise on Bill to Delay NFIP Rate Hikes

  By Arthur D. Postal, PropertyCasualty360.com  |  May 10, 2013

  Senate Majority Leader Harry Reid is taking extraordinary steps to force a compromise on a proposed amendment to pending legislation that would indefinitely delay politically-sensitive hikes in flood insurance premiums scheduled to go into effect next year.

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  N.Y. Labor Law for Construction Doubling Rates, Scaring Away Carriers

  By Bonnie Cavanaugh, PropertyCasulaty360.com  |  May 10, 2013

  Insurance rates in the state have risen steadily over the past five years, since the New York lawmakers enacted statutes to its Workers’ Compensation Law to give broader rights to injured construction employees.

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  Bill Introduced to Extend TRIA for 10 Years

  By Elizabeth D. Festa, PropertyCasualty360.com  |  May 10, 2013

  Legislation to extend the Terrorism Risk Insurance Act for a decade has been introduced in the House.

• Rating Agencies Call MBIA Settlement Positive

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 9, 2013

  Just when it looked like bond insurer MBIA was on the ropes it came through with a settlement that is getting the thumbs up from industry observers.

• Federal Bills Incentivize States to Adopt Uniform Building Codes

  By Arthur D. Postal, PropertyCasualty360.com  |  May 9, 2013

  Legislation has been introduced in both the House and Senate aimed at providing additional incentives for states to adopt and enforce uniform building codes.