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January 12, 2009
Print Version of All Articles in Jan. 12 ICI
Print out this file for all of the text in the current issue....
NAMIC Says Property/Casualty Insurers, State Regulation Don’t Need Fixing ...
There’s a lot that has to be done to fix the current system of financial services regulation, but don’t drag property/casualty insurers or state insurance regulation into it. That's what NAMIC is urging in a new report....
... But GAO Says Financial Services Regulation Needs Attention
The GAO has concluded the country’s regulatory system is “ill-suited” to meet the needs of the 21st century and needs “significant reform” to make financial services regulators more accountable....
Carrier Will Reinstate Health Policies After Complaints of Improper Rescissions
A leading California health carrier has agreed to offer insurance to nearly 700 citizens whose policies it rescinded from 2004 to 2008. It also faces a $5 million penalty if it doesn’t implement corrective actions....
Idaho Warns Producers to Report Administrative Actions
Idaho is reminding producers to report administrative actions taken against them by other states....
Data Breaches Are Up; Group Urges Companies to Take More Care with Sensitive Data
A leading data protection group is warning companies to better protect sensitive company information....
SEC Says Risk Is Behind Rule Regulating Indexed Annuities as Securities
The SEC says investor risk was the force driving Rule 151A, which will bring indexed annuities under the regulatory authority of securities regulators starting in 2011....
Preliminary Salary Survey Results: Job Losses Continue, But Compliance Pros Remain Optimistic
The insurance industry isn’t immune to job loss, but its labor contraction looks to be smaller than the national average, and compliance professionals seems to be confident about keeping their jobs....
Rules, Regs & Bulletins Jan. 12
A summary of recent regulatory developments and legislation....