Username: Password:
Forgot Your Password? | Obtain a Password
Press Room Articles
The Press Room features links to articles on the insurance industry, state and federal insurance regulation, and other issues of interest to the guaranty system. The views expressed in these articles do not necessarily reflect the views of NOLHGA or its members.
Contents:
Recently Published Articles
Insurance Industry News
Federal Regulation
Guaranty System in the News
Company News & Downgrades
Industry News Sources
Recently Published Articles
NAIC Wins FIO Bill Changes
Article retrieved 11/20/2009  Contributer: ARTHUR D. POSTAL  Source: National Underwriter
The National Association of Insurance Commissioners has won significant changes in legislation that could create a Federal Insurance Office.
State Regulators Support Changes To Federal Insurance Office Act
Article retrieved 11/19/2009  Contributer: NAIC  Source: InsuranceAssetManager.com
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.
Fitch: CMBS Loss Exposure Manageable for U.S. Life Insurers
Article retrieved 11/18/2009  Contributer: Fitch Ratings  Source: Insurancenewsnet.com
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.
Are You Protected If Your Insurance Company Goes Belly-Up?
Article retrieved 11/17/2009  Contributer: John Pitlosh  Source: Investopedia
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?!
Insurers Leery of Dodd Proposal
Article retrieved 11/13/2009  Contributer: Bill Kenealy  Source: Insurance Networking News
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.
[ Top of Page ]
Insurance Industry News
Fitch: CMBS Loss Exposure Manageable for U.S. Life Insurers
Article retrieved 11/18/2009  Contributer: Fitch Ratings  Source: Insurancenewsnet.com
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.
Pace of insurer insolvencies not yet cause for alarm
Article retrieved 11/02/2009  Contributer: Tim Zawacki  Source: SNL Interactive
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.
Insurance advocates laud changes to Consumer Financial Protection Agency Act
Article retrieved 10/26/2009  Contributer: Darla Mercado  Source: Investment News
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.
[ Top of Page ]
Federal Regulation
NAIC Wins FIO Bill Changes
Article retrieved 11/20/2009  Contributer: ARTHUR D. POSTAL  Source: National Underwriter
The National Association of Insurance Commissioners has won significant changes in legislation that could create a Federal Insurance Office.
State Regulators Support Changes To Federal Insurance Office Act
Article retrieved 11/19/2009  Contributer: NAIC  Source: InsuranceAssetManager.com
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.
Insurers Leery of Dodd Proposal
Article retrieved 11/13/2009  Contributer: Bill Kenealy  Source: Insurance Networking News
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.
Sen. Chris Dodd Unveils New Bill With Insurance Regulations
Article retrieved 11/12/2009  Contributer: ARTHUR D. POSTAL  Source: National Underwriter
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.
Dodd Proposes Removing Fed, FDIC Bank Oversight Power
Article retrieved 11/11/2009  Contributer: Alison Vekshin  Source: Bloomberg
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.
Insurers are leery of proposed federal watchdog but support Federal Insurance Office
Article retrieved 11/11/2009  Contributer: Sara Hansard   Source: Investment News
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.
Sullivan: State Insurance Regulation Works
Article retrieved 11/09/2009  Contributer: Greg Bordonaro  Source: Hartford Business Journal
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.
Frank Says Measure Will Require Naming Risky Firms
Article retrieved 11/04/2009  Contributer: Alison Vekshin  Source: Bloomberg
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.
State Regulatory Role Key To Solvent Insurance Industry
Article retrieved 10/30/2009  Contributer: NAIC  Source: Insurancenewsnet.com
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.
McRaith: OFC Just A Wraith
Article retrieved 10/26/2009  Contributer: LAURA MAZZUCA TOOPS  Source: National Underwriter
Insurance regulation is likely to remain a state function, Illinois Insurance Director Michael McRaith said Thursday at a conference.
Insurance Industry Antitrust Exemption At Risk In US Health Care Overhaul Debate
Article retrieved 10/23/2009  Contributer: The Canadian Press  Source: Insurancenewsnet.com
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.
Congress Cranks up Pressure on Insurance Industry
Article retrieved 10/23/2009  Contributer: Donna Smith and John Whitesides, Reuters  Source: ABC News
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.
[ Top of Page ]
Guaranty System in the News
Are You Protected If Your Insurance Company Goes Belly-Up?
Article retrieved 11/17/2009  Contributer: John Pitlosh  Source: Investopedia
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?!
Stretching the Consumer Safety Net
Article retrieved 10/22/2009  Contributer: MICHELLE NEWELL LOVERN  Source: Florida Underwriter Magazine
Florida’s Guaranty Funds Fulfill the Promise
[ Top of Page ]
Company News & Downgrades
A.M. Best Downgrades Ratings of American Community Mutual Insurance Company
Article retrieved 11/05/2009  Contributer: Yahoo Finance  Source: A.M. Best Co.
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.
[ Top of Page ]
Industry News Sources
The links below will take users to insurance news Web sites or to subscription pages for daily insurance newsletters.
NAIC NewsWire
http://www.smartbrief.com/naic/
Insurance News Net
http://www.insurancenewsnet.com/newsletter.asp
National Underwriter
http://www.lifeandhealthinsurancenews.com/Pages/default.aspx
A.M. Best's BestDay
http://www.ambest.com/sales/BestDay/default.asp
Real Clear Markets
http://www.realclearmarkets.com/
© 2001-2009 All Rights Reserved. The National Organization of Life & Health Insurance Guaranty Associations
13873 Park Center Road, Suite 329, Herndon, VA 20171
Terms of Use | Site Map | Site Help