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August 25, 2008
 
Print Version of All Articles in Aug. 25 ICI

Print out this file for all of the text in the current issue....

 
SEC’s Proposed Rule 151A Will Pose New Compliance Challenges
No one is sure at this point whether the SEC will succeed in passing a rule to redefine indexed annuities as securities – regulators can’t even agree on whether it is even needed – but its passage would undoubtedly mean new compliance challenges for insurers....
 
McCarty Warns Against Hurricane Deductibles; Group Warns National Catastrophe Plan Would Cost Too Much
Say what you will about the mess Tropical Storm Fay left behind in Florida ... at least there won’t be any squabbles about wind-or-water damage this time. Fay was barely a bluster, but the slow-moving storm left a deluge behind, dumping more than 25 inches in some parts of the state....
 
Industry Expected to Appeal Michigan Court Ruling on Credit Scoring
Industry trade groups are expected to band together to challenge a ruling by the Michigan Court of Appeals that would prohibit  insurers from using credit-based insurance scores....
 
NAIC’s Weatherford Lands at NAVA; Alabama’s Bell Heads to Swiss Re
It didn’t take long for two former superstars at the NAIC to find new jobs. NAVA has named former NAIC chief Cathy Weatherford as its new president and CEO and Alabama insurance commissioner Walter Bell is headed to Swiss Re America Holding Corporation as its new chairman....
 
SEC Launches New Interactive System to Replace EDGAR, Provide Company Data
The SEC is rolling out the successor to its clunky and aging EDGAR database that provides financial information about public companies and mutual funds....
 
Rules, Regs & Bulletins Aug. 25, 2008

A summary of recent regulatory developments and legislation....