Regulation/Legislation

Nebraska has dropped out of the Nonadmitted Insurance Multistate Agreement, or NIMA, the compact for parceling out surplus line premiums to the appropriate state supported by the National Association of Insurance Commissioners.

The Government Accountability Office has recommended that Congress pass legislation clarifying certain provisions of the Liability Risk Retention Act, including registration requirements, fees and coverage.

The Government Accountability Office has recommended that Congress pass legislation clarifying certain provisions of the Liability Risk Retention Act, including registration requirements, fees and coverage.

Michael T. McRaith, director of the Federal Insurance Office, said he is aware of anxiety that his office will be asking for duplicate data, bogging the insurance industry down in paperwork for what has been perceived as, potentially, an additional regulatory authority.

In his state of the state address, Florida Governor Rick Scott laid out the case for auto-insurance reforms that would crack down on fraud abuse in the states no-fault system.

P&C insurance professionals brace themselves for another busy year of federal statutes and regulations. Examine these proposals and trends to stay compliant.