News

Thanks to the Senate rule requiring 60-votes to get any bill to a vote, making the country almost ungovernable, perhaps it's time to do away with or modify the fillibuster rules, suggests NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.

Federal lawmakers may cut a provision of proposed legislation that seeks to end the antitrust exemption for medical malpractice insurers afforded by the McCarran-Ferguson Act exemption, according to insurance industry sources.

The Independent Insurance Agents and Brokers of New York (IIABNY) said its negotiations with the New York State Insurance Department have resulted in some revisions to a proposed producer compensation disclosure rule.

MarketScout electronic insurance exchange reported finding no end to the soft market last month with the composite U.S. property and casualty sector down 4 percent.

LexisNexis Risk Solutions said it has selected FirstBest Systems, Inc., as the core technology partner for its new insurance exchange, being created with the Council of Insurance Agents and Brokers.

An Illinois law that set caps on medical malpractice awards for "pain and suffering" has been ruled unconstitutional by the state's high court, which found legislators had overreached in attempting to restrict the judicial process.