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Recently Published Articles |
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| NAIC Wins FIO Bill Changes |
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Article retrieved 11/20/2009 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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The National Association of Insurance Commissioners has won significant changes in legislation that could create a Federal Insurance Office. |
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| State Regulators Support Changes To Federal Insurance Office Act |
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Article retrieved 11/19/2009 Contributer: NAIC Source: InsuranceAssetManager.com |
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Changes to proposed legislation creating a Federal Insurance Office (FIO) have earned support from state insurance regulators. In a letter, the National Association of Insurance Commissioners (NAIC) told the House Financial Services Committee that amendments to the Federal Insurance Office Act (H.R. 2609) uphold important safeguards to ensure state regulation continues to protect insurance consumers and companies. |
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| Fitch: CMBS Loss Exposure Manageable for U.S. Life Insurers |
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Article retrieved 11/18/2009 Contributer: Fitch Ratings Source: Insurancenewsnet.com |
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Despite a declining outlook for all U.S. CMBS property types and escalation of losses, the U.S. life insurance sector should be able to manage its exposure to commercial real estate-related losses in the near to intermediate-term, according to Fitch Ratings in a new report. |
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| Are You Protected If Your Insurance Company Goes Belly-Up? |
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Article retrieved 11/17/2009 Contributer: John Pitlosh Source: Investopedia |
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Problem with a bad bank? The FDIC has your back! Had a brokerage account with Bernie Madoff? SIPC has you covered! Your life insurance company goes bankrupt. Uh oh … now what?! |
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| Insurers Leery of Dodd Proposal |
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Article retrieved 11/13/2009 Contributer: Bill Kenealy Source: Insurance Networking News |
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Senate Banking Committee Chairman Christopher Dodd (D.–Conn.) has unveiled a discussion draft of his ambitious plan to revamp oversight of the financial services sector. |
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Insurance Industry News |
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| Fitch: CMBS Loss Exposure Manageable for U.S. Life Insurers |
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Article retrieved 11/18/2009 Contributer: Fitch Ratings Source: Insurancenewsnet.com |
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Despite a declining outlook for all U.S. CMBS property types and escalation of losses, the U.S. life insurance sector should be able to manage its exposure to commercial real estate-related losses in the near to intermediate-term, according to Fitch Ratings in a new report. |
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| Pace of insurer insolvencies not yet cause for alarm |
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Article retrieved 11/02/2009 Contributer: Tim Zawacki Source: SNL Interactive |
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Insurance company receiverships have not occurred with anything like the same quantity, regularity or predictability as bank failures, but a recent rash of headlines regarding new orders of rehabilitation and liquidation has thrust the topic to the top of one's mind. |
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| Insurance advocates laud changes to Consumer Financial Protection Agency Act |
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Article retrieved 10/26/2009 Contributer: Darla Mercado Source: Investment News |
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Members of the insurance industry are applauding an amendment to the Consumer Financial Protection Agency Act of 2009 that eliminates a section that would have given the agency oversight of some insurance products. |
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Federal Regulation |
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| NAIC Wins FIO Bill Changes |
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Article retrieved 11/20/2009 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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The National Association of Insurance Commissioners has won significant changes in legislation that could create a Federal Insurance Office. |
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| State Regulators Support Changes To Federal Insurance Office Act |
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Article retrieved 11/19/2009 Contributer: NAIC Source: InsuranceAssetManager.com |
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Changes to proposed legislation creating a Federal Insurance Office (FIO) have earned support from state insurance regulators. In a letter, the National Association of Insurance Commissioners (NAIC) told the House Financial Services Committee that amendments to the Federal Insurance Office Act (H.R. 2609) uphold important safeguards to ensure state regulation continues to protect insurance consumers and companies. |
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| Insurers Leery of Dodd Proposal |
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Article retrieved 11/13/2009 Contributer: Bill Kenealy Source: Insurance Networking News |
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Senate Banking Committee Chairman Christopher Dodd (D.–Conn.) has unveiled a discussion draft of his ambitious plan to revamp oversight of the financial services sector. |
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| Sen. Chris Dodd Unveils New Bill With Insurance Regulations |
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Article retrieved 11/12/2009 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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The chairman of the Senate Banking Committee unveiled an omnibus financial bill that would require a study of ways to modernize insurance regulation and creation of an Office of National Insurance. |
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| Dodd Proposes Removing Fed, FDIC Bank Oversight Power |
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Article retrieved 11/11/2009 Contributer: Alison Vekshin Source: Bloomberg |
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Senator Christopher Dodd proposed creating a single U.S. bank regulator and stripping supervision from the Federal Reserve and Federal Deposit Insurance Corp. in legislation aimed at preventing a repeat of the credit crisis. |
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| Insurers are leery of proposed federal watchdog but support Federal Insurance Office |
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Article retrieved 11/11/2009 Contributer: Sara Hansard Source: Investment News |
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Insurers with at least $10 billion in assets would be required to pay into a federal fund to cover the costs of resolving failures at financial services companies under legislation to be taken up next week by the House Financial Services Committee. |
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| Sullivan: State Insurance Regulation Works |
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Article retrieved 11/09/2009 Contributer: Greg Bordonaro Source: Hartford Business Journal |
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State Insurance Commissioner Thomas Sullivan took to Capitol Hill last week, telling lawmakers on the powerful House Committee on Financial Services that state-based regulation of the insurance industry works, and needs to be incorporated into any new regulatory initiatives that Congress develops to watch over the financial system. |
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| Frank Says Measure Will Require Naming Risky Firms |
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Article retrieved 11/04/2009 Contributer: Alison Vekshin Source: Bloomberg |
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U.S. House Financial Services Committee Chairman Barney Frank said he wants to make public the firms deemed to be systemically risky as part of legislation being considered to prevent taxpayer-funded bailouts. |
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| State Regulatory Role Key To Solvent Insurance Industry |
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Article retrieved 10/30/2009 Contributer: NAIC Source: Insurancenewsnet.com |
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Federal oversight of financial markets must complement, not displace the coordinated, national system of state-based insurance supervision, the National Association of Insurance Commissioners (NAIC) told Congress today. |
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| McRaith: OFC Just A Wraith |
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Article retrieved 10/26/2009 Contributer: LAURA MAZZUCA TOOPS Source: National Underwriter |
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Insurance regulation is likely to remain a state function, Illinois Insurance Director Michael McRaith said Thursday at a conference. |
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| Insurance Industry Antitrust Exemption At Risk In US Health Care Overhaul Debate |
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Article retrieved 10/23/2009 Contributer: The Canadian Press Source: Insurancenewsnet.com |
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Top Senate Democrats intend to try to strip the health insurance industry of its exemption from federal antitrust laws, according to congressional officials, the latest evidence of a deepening struggle over President Barack Obama's effort to overhaul the health care industry. |
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| Congress Cranks up Pressure on Insurance Industry |
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Article retrieved 10/23/2009 Contributer: Donna Smith and John Whitesides, Reuters Source: ABC News |
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Democrats in the U.S. Congress moved on Wednesday to repeal the health insurance industry's exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama's healthcare reform plans. |
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Guaranty System in the News |
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| Are You Protected If Your Insurance Company Goes Belly-Up? |
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Article retrieved 11/17/2009 Contributer: John Pitlosh Source: Investopedia |
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Problem with a bad bank? The FDIC has your back! Had a brokerage account with Bernie Madoff? SIPC has you covered! Your life insurance company goes bankrupt. Uh oh … now what?! |
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| Stretching the Consumer Safety Net |
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Article retrieved 10/22/2009 Contributer: MICHELLE NEWELL LOVERN Source: Florida Underwriter Magazine |
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Florida’s Guaranty Funds Fulfill the Promise |
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Company News & Downgrades |
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| A.M. Best Downgrades Ratings of American Community Mutual Insurance Company |
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Article retrieved 11/05/2009 Contributer: Yahoo Finance Source: A.M. Best Co. |
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A.M. Best Co. has downgraded the financial strength rating to C+ (Marginal) from B (Fair) and issuer credit rating to “b-” from “bb” of American Community Mutual Insurance Company (American Community) (Livonia, MI). The outlook for both ratings is negative.
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