Articles for 2011 Media Statements

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NAMIC: Short-Term Extension No Substitute for Real Flood Insurance Reform

“Congress has thankfully avoided a lapse in the National Flood Insurance Program with the Continuing Resolution, but again we find ourselves waiting for real reform. This latest short-term extension is especially frustrating given how close reform legislation is to becoming law. The House has done their part by passing reform legislation with overwhelming, bipartisan support, and legislation in the Senate would be approved today if they’d only vote on it.” (Posted: 11/18/2011 12:10:27 PM)

NAMIC Comments on FACI Appointments

(Posted: 11/2/2011 2:54:36 PM)

NAMIC: McRaith's Testimony Shows Understanding of FIO's Intended Role

“Director McRaith’s testimony shows that he has an understanding of the role the Federal Insurance Office was created to fill – that of an ‘objective, reliable resource for information’ on the insurance industry while ‘the state insurance departments remain the functional regulators over the business of insurance.’ NAMIC looks forward to working with Director McRaith as he builds the FIO with this goal in mind. (Posted: 10/25/2011 2:36:32 PM)

Auto No-Fault Moves in Michigan; NAMIC Comments

“NAMIC is pleased that the Michigan House Insurance Committee voted yesterday to move forward HB 4936, legislation that will reform the state’s auto no-fault system. (Posted: 10/14/2011 9:01:00 AM)

Proposed FSOC Guidance for 'SIFI' Designation of Non-Bank Financial Companies

“NAMIC appreciates the work the FSOC has done to provide more transparency and clarity to the SIFI-designation process for non-bank financial institutions. (Posted: 10/12/2011 10:32:43 AM)

Sec. Geithner's Testimony on the FSOC Annual Report

"NAMIC has argued since the financial crisis began that property/casualty insurance does not pose a systemic risk to the broader economy. Like many companies, property/casualty insurers have worked hard to weather the storm of the last few years, and as the FSOC Annual Report noted, 'withstood the financial crisis quite well in terms of providing insurance services to consumers and businesses.'" (Posted: 10/6/2011 12:19:20 PM)

The Senate Should Act Swiftly to Confirm Woodall

“With today’s approval of the Banking committee, we urge the full Senate to act without further delay to confirm Roy Woodall. Given the potential impact that the FSOC can have on the insurance industry, it is absolutely vital that someone with a true understanding of the industry have an official say, and vote, in the Council’s decision making process. Roy Woodall will bring that understanding of insurance to the FSOC.” (Posted: 9/8/2011 11:23:38 AM)

Statement by Liz Reynolds on the Alabama Homeowners Insurance Affordability Commission

As mutual insurers, owned by our policyholders, we understand what people experience in the face and aftermath of a natural disaster. And we commend Governor Bentley and the commission for seeking to find ways to make homeowners insurance more affordable for the people of Alabama. (Posted: 8/30/2011 12:13:31 PM)

Strong Building Codes are Among the Best Protections against Natural Disasters

As the East Coast recovers from an earthquake and prepares for a hurricane, we are again reminded that natural catastrophes can strike at any time and any place. We believe the strong building codes in place in states like Virginia, Pennsylvania, New Jersey and New York, as well as the District of Columbia, played a vital role in saving lives and limiting the damage caused by the earthquake. Strong building codes provide one of the best methods to mitigate against the damages from natural disasters, preventing losses before a disaster ever strikes. (Posted: 8/25/2011 2:49:01 PM)

Massachusetts Association of Insurance Agents to Introduce CBIS Ballot Initiative

“MAIA’s ballot initiative is misguided and disingenuous. Countless studies have shown that many consumers benefit from lower costs when insurers use a broad range of underwriting and rating factors, including credit-based insurance scores. Prohibiting their use means that insurers are unable to offer many drivers discounts they would otherwise receive. MAIA is doubtlessly aware of this, yet it persists in pursuing a statutory prohibition that would prevent many drivers from potential savings by trotting out roundly refuted arguments." (Posted: 8/5/2011 1:10:59 PM)

NAMIC Calls For Swift Confirmation of Woodall (7/26/2011 12:18:25 PM)

Connecticut Flex-Rating Extension Approved by General Assembly (6/10/2011 2:31:08 PM)

Tennessee Legislature Passes Tort Reform Bill (6/2/2011 8:16:03 AM)

NAMIC Applauds Enactment of Tort Reform in Texas (6/2/2011 8:03:05 AM)

NAMIC Comments on Oklahoma Governor Signing Workers' Comp Reform Bill (5/26/2011 9:58:07 AM)

NAMIC Urges Oklahoma Governor to Sign Uninsured Motorists Bill (5/23/2011 1:58:18 PM)

Passage of HR 1309, “The Flood Insurance Reform Act of 2011” by the House Financial Services Committee (5/16/2011 10:25:08 AM)

Kansas HB 2139 (Workers Compensation Rating Modernization) (5/13/2011 11:05:21 AM)

Senate Banking Committee Hearing “Oversight of Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial Stability (5/12/2011 4:12:39 PM)

Oklahoma SB 928 (Consumer Protection from Storm Scammers) (5/9/2011 9:01:09 AM)

Florida Property Insurance Package on Its Way to Governor (5/6/2011 2:19:04 PM)

Kansas HB 2119 (Accident Response Fees) (5/3/2011 9:52:42 AM)