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The Hartford's Neal S. Wolin Testifies Before Congress In Support of H.R. 5840, Legislation Creating Federal Office of Insurance Information
HARTFORD, Conn. -- The Hartford Financial Services Group, Inc. (NYSE: HIG) announced that the president and chief operating officer of its property-casualty operations, Neal S. Wolin, testified today on behalf of the American Insurance Association AIA at a U.S. House of Representatives hearing in support of H.R. 5840, the Insurance...
SHORT ON TITLE, LONG ON CONTENT
The idea of the OFC generates much discussion on both sides The National Insurance Act of 2007, referred to familiarly as the optional federal charter OFC, is 330 pages long and contains 616 sections. It sets up a federal insurance division, including a licensing, regulation and supervision...
Racicot: Senate Charts Sound Course for Renewing Federal Flood Insurance Program
WASHINGTON -- Gov. Marc Racicot, president, American Insurance Association AIA, today said the U.S. Senate chose the more thoughtful path to strengthening the National Flood Insurance Program NFIP by approving reforms that put the program on sound financial footing in a bill (S. 2284) that reauthorizes the program for five...
AIA Committed to Recovery after Tornadoes Devastate Missouri, Oklahoma and Georgia
WASHINGTON -- Gov. Marc Racicot, president of the American Insurance Association, today commented on the devastating tornadoes that ravaged parts of Missouri, Oklahoma and Georgia over the weekend and reassured policy holders that the insurance industry is committed to helping them recover from the storms. "This spring we...
Racicot: Insurance Industry is Committed to Helping Residents of Southeastern Virginia Get Back on Their Feet
WASHINGTON -- Gov. Marc Racicot, president of the American Insurance Association AIA, today assured the residents of southeastern Virginia who were battered by three tornadoes yesterday that the insurance industry would be focused on a quick and targeted response in helping them recover. "The insurance industry is on...
GLC Awarded New Custom Publishing Business from American Insurance Association
NORTHBROOK, Ill. -- GLC Custom Publishing is pleased to announce a new custom publishing partnership with the American Insurance Association AIA. GLC has just published the first issue of AIA's publication, Advocate. Advocate is a monthly publication focused on informing readers about current insurance legislation and regulatory news...
AIA Applauds Treasury Recommendation of 'OFC' in Blueprint
To: BUSINESS EDITORS Contact: Blain Rethmeier, American Insurance Association, +1-202-828-7497 WASHINGTON, March 29 /PRNewswire-USNewswire/ -- Gov. MarcRacicot, president of the American Insurance Association AIA,today applauded the recommendation of establishing an optionalfederal charter ("OFC") for insurers as outlined by the Dept. of theTreasury's Regulatory Blueprint of Financial Regulation. ...
Congressional Bond Hearing Underscores Need for Optional Federal Charter for Insurers
To: NATIONAL EDITORS Contact: Dennis Kelly of the American Insurance Association, +1-202-828-7494, dkelly@aiadc.org WASHINGTON,Feb.14/PRNewswire-USNewswire/ -- A hearing today inthe House Financial Services Subcommittee on Capital Markets,Insurance and Government-Sponsored Enterprises focused on bondinsurance but also underscored the importance of all types ofinsurance to the broader U.S. economy, according to the...
CSPA.(Personnel Roundup)
Gretchen Schaefer has joined the association as vice president of communications. Ms. Schaefer has represented the business community on legislative, regulatory and educational initiatives for 15 years, including positions with the American Tort Reform Association and American Insurance Association. She was formerly...
Florida re-enacts no-fault auto law.(Briefing: Highlights From BestWeek)
The Florida House and Senate have adopted new legislation to re-enact the no-fault automobile insurance law. Passage came four days after the law expired Oct. 1. The new measure includes reforms that are intended to "cut costs and reduce litigation and fraud," according...
AIA: Use of Insurance Scores Benefit Consumers
To: POLITICAL EDITORS Contact: Jeffrey Junkas of the American Insurance Association, +1-312-782-7720, jjunkas@aiadc.org WASHINGTON, Oct. 2 /PRNewswire-USNewswire/ -- Gov. Marc Racicot,president of the American Insurance Association AIA, today issued astatement to a U.S. House Subcommittee making the case that theFederal Trade Commissions FTC credit study is the latest proofcredit-based...
AIA report: many more miles, many fewer fatalities.(Briefing)(American Insurance Association)(Report)
Decades of efforts by the insurance industry and advocacy groups have increased automobile safety significantly, according to a new study by the Washington D.C-based American Insurance Association. Recently released federal highway data show a continuing drop in motor vehicle fatality rates over the...
Upcoming events
SEPTEMBER 13-15 NAAIA Summit The National African-American Insurance Association will hold its 2007 National Conference and Empowerment Summit at the Marriott Renaissance in Detroit, Mich. For more information: NAAIA, www. naaia.org; 866.56.NAAIA; info@naaia.org. 26-28 NRRA Conference ...
PIA Urges Nation's Governors to Continue Opposing Optional Federal Charters
To: BUSINESS EDITORS Contact: Ted Besesparis of PIA, +1-703-518-1352 WASHINGTON, Aug. 31 /PRNewswire-USNewswire/ -- The NationalAssociation of Professional Insurance Agents PIA has sent a letterto the nation's governors urging them to remain steadfast in theiropposition to an optional federal charter OFC for insurers. Theletter comes one week after the...
Upcoming events
SEPTEMBER 8-11 CPCU Society The 63rd Annual Meeting of the Chartered Property Casualty Underwriter Society will feature seminars focused on leadership and technical property/casualty insurance issues. This year's event will take place at the Hawaii Convention Center in Honolulu. For more information:...
Insurer tattles on kids who speed
Safeco Insurance unveils a teen driving package today that notifies parents when their young driver speeds, breaks curfew or drives outside of an agreed-upon area. Parents can also use the Internet and global-positioning satellites to find their car at any moment. "Teensurance," available in all 44...
Compensating for reforms: state workers' comp systems to ride the seesaw of reform in 2007
Workers' compensation reforms appear possible in states where rhetoric, not action, had been the norm. On the flipside, experts predict a continued push from labor and industry groups in 2007 to undue reforms in other states. One such, not surprisingly, is California. "We anticipate a very active year...
PIA to Challenge the Endorsement by a U.S. Chamber of Commerce Commission of Optional Federal Charters
To: BUSINESS EDITORS Contact: Ted Besesparis of National Association of ProfessionalInsurance Agents, +1-703-518-1352 WASHINGTON, March 23 /PRNewswire-USNewswire/ -- The NationalAssociation of Professional Insurance Agents PIA has asked itsleaders to challenge the recent decision by a commission of the U.S.Chamber of Commerce to endorse optional federal charters forinsurers. An...
Steady as she goes: expect more of the same for workers' comp in 2007
The more things change, the more they stay the same. That's the prediction many experts in the workers' compensation industry are making for 2007. Although rates are stabilizing in many areas of the country and the frequency of claims filing continues its downward trend, key problems that have plagued employers...
AIA deems terrorism backstop 'most urgent' concern for 2007; But federal support not needed to tackle natural cat risks.(American Insurance Association)(Brief article)
Byline: MARK A. HOFMANN WASHINGTON-Finding a long-term solution to the issue of terrorism insurance is the "most urgent'' matter on the American Insurance Assn.'s legislative agenda for the new Congress that convenes next month, AIA President Marc Racicot said during a news conference...
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