NAMIC: Delaying Risk Rating 2.0 Leaves Americans Vulnerable to Floods

November 8, 2019 The Federal Emergency Management Agency will leave millions of homeowners at greater risk of flooding with a decision to delay implementation of the Risk Rating 2.0 plan for the National... Read more

NAMIC Hails Committee Vote to Extend TRIA Program

October 30, 2019 The National Association of Mutual Insurance Companies welcomed today’s vote by members of the House Financial Services Committee today to extend the Terrorism... Read more

NAMIC Hails Heck-Budd Bill to Protect State Insurance Regulation

September 27, 2019 The National Association of Mutual Insurance Companies applauded the introduction of legislation to protect state-based insurance regulation from being undermined by international regulatory standard-setting bodies. The International Insurance... Read more

NAMIC Members Up The Ante On Industry Scholarship Campaign

September 25, 2019 National Harbor, Md. (Sept. 26, 2019) - The National Association of Mutual Insurance Companies launched a new scholarship fundraising campaign to support students seeking undergraduate degrees in the insurance and risk management fields to... Read more

NAMIC President/CEO Announces Retirement

September 25, 2019 The National Association of Mutual Insurance Companies announced today that Charles M. Chamness, NAMIC’s president and chief executive officer, is stepping down as CEO of the association in the fall of 2020 and will serve in an advisory role during... Read more

NAMIC Introduces New Chairman at 124th Annual Convention

September 24, 2019 NATIONAL HARBOR, MD – (Sept. 25, 2019) The National Association of Mutual Insurance Companies welcomed its new chairman – Randall K. Druvenga, president of First Maxfield Mutual Insurance Association – today during the annual meeting of members at... Read more

Beatty, Budd Named NAMIC’s Federal Legislators of the Year

September 23, 2019 National Harbor, MD (Sept. 24, 2019) The National Association of Mutual Insurance Companies today recognized Reps. Joyce Beatty, D-Ohio, and Ted Budd, R-N.C., as the association's federal legislators of the year. Read more

NAMIC State Legislator of the Year

September 23, 2019 National Harbor, Maryland (Sept. 24, 2019) – The National Association of Mutual Insurance Companies announced today that state Sens. Doug Broxson, R-Fla., and Rick Wilborn, R-Kan., have been named the association’s... Read more

NEW Market Analysis Validates Strength of Mutual Insurance Companies

September 23, 2019 National Harbor, MD (Sept. 23, 2019) The National Association of Mutual Insurance Companies and Aon today released the second edition of its annual market performance analysis adding further evidence to support the overall strength and stability of... Read more

NAMIC Honors Smith With Chairman’s Award, Salutes Service to Insurance Industry

September 23, 2019 The National Association of Mutual Insurance Companies presented its Chairman’s Award to John Smith, president and CEO of Pennsylvania Lumbermens Mutual Insurance Company, at the association’s 124th Annual Convention today in National Harbor, Maryland. Read more

NAMIC Calls on Congress to Immediately Pass Bipartisan House NFIP Bill

September 9, 2019 With lawmakers again on Capitol Hill, the National Association of Mutual Insurance Companies today urged immediate passage of bipartisan House legislation that would bring financial stability to flood insurance policyholders in the United States. Read more

NAMIC, BuildStrong Coalition Host Disaster Mitigation Forum With U.S. Chamber, FEMA

July 23, 2019 The National Association of Mutual Insurance Companies and the BuildStrong Coalition today hosted the first in a series of regional disaster forums in conjunction with the U.S. Chamber of Commerce and the Federal Emergency Management Agency.... Read more

NAMIC Opposes Senate Legislation Aimed at Reforming Flood Program

July 18, 2019 The National Association of Mutual Insurance Companies today expressed strong opposition to legislation unveiled in the Senate designed to reauthorize and make changes to the National Flood Insurance Program. The legislation, the National Flood... Read more

NAMIC Presents 6th Annual Award in Innovation

June 26, 2019 The National Association of Mutual Insurance Companies today presented the Award in Innovation at its 2019 Management Conference in Asheville, N.C., to... Read more

NAMIC: Bipartisan NFIP Reform Bill an Important Step in Protecting Americans From Flood Loss

June 12, 2019 The National Association of Mutual Insurance Companies applauded the House Financial Services Committee and its leadership for today’s passage of bipartisan legislation to extend the National... Read more

NAMIC Calls for Long-Term Stability in National Flood Insurance Program

May 30, 2019 The National Association of Mutual Insurance Companies expressed disappointment today that Congress could pass only a two-week extension of the National Flood Insurance Program with just days before the start of the 2019 hurricane season and urged... Read more

NAMIC: No Excuse for NFIP Lapse as Hurricane Season Begins

May 30, 2019 After a failure by Congress to pass a short-term extension, the National Flood Insurance Program is set to lapse as of midnight May 31, just in time for the start of the hurricane season. As a result, the NFIP, and the Americans who depend on it, will... Read more

NAMIC Calls on Senate to Act on NFIP Extension

May 14, 2019 The National Association of Mutual Insurance Companies today commended House leaders for passing legislation to extend the authorization of... Read more

NAMIC Responds to Florida Passage of Assignment of Benefits Reform

April 24, 2019 “It’s been seven years of hard work, but today’s passage of assignment of benefits reform legislation in Florida is a major victory for consumers. We are thrilled to see Florida legislators put policyholders first, something that as mutual... Read more

NAMIC Applauds NFIP Risk Rating 2.0

March 19, 2019 Statement by Jimi Grande Senior Vice President, Government Affairs National Association of Mutual Insurance Companies RE: National Flood Insurance Program’s Risk Rating 2.0 Modernization “The Risk Rating 2.0 plan would at long last do something... Read more

NAMIC: Banning Credit Data in Auto Insurance Underwriting Would Hurt Consumers

March 15, 2019 Legislation to ban the use of credit information in underwriting auto insurance would only hurt consumers, the National Association of Mutual Insurance Companies said today. The Prevent Discrimination in Auto Insurance Act, introduced in the House, is... Read more

NAMIC Comments on Government Employee Furlough

January 25, 2019 “NAMIC is supportive of the nation’s federal employees during this time of strife caused by the furlough and as such sees insurance department bulletins that encourage leniency and customer communication as commonsense approaches to... Read more

Washington: NFIP Joint Trades Statement

January 10, 2019 WASHINGTON (December 26, 2018)—The American Insurance Association, Council of Insurance Agents & Brokers, Independent Insurance Agents & Brokers of America,... Read more

NAMIC Says Disaster Mitigation Efforts Shouldn’t End With Hurricane Season

November 29, 2018 As the 2018 Atlantic hurricane season comes to an end, the National Association of Mutual Insurance Companies is urging policymakers at all levels of government to continue focusing on disaster policy and... Read more

J.D. Power Pulse Survey Says Consumers Not on Board With Rush to Market Automated Vehicles

October 8, 2018 While auto manufacturers, technology companies, and government entities race to develop and deploy automated vehicles, a new pulse survey from J.D. Power and the National Association of Mutual Insurance Companies reveals it may be time to pump the... Read more

Historic Disaster Mitigation Reforms to Become Law

October 3, 2018 Federal disaster policy took a historic step toward proactive loss prevention with the passage of reforms long championed by the National Association of Mutual Insurance Companies in the Federal Aviation Administration reauthorization... Read more

NAMIC Hails Passage of Historic Disaster Mitigation Reforms

September 26, 2018 America’s communities will be equipped with new tools to protect themselves from natural disasters thanks to a set of historic provisions included in the Federal Aviation Administration reauthorization passed by the House today, according to the... Read more

NAMIC Introduces New Chairman at 123rd Annual Convention

September 25, 2018 SAN ANTONIO – (Sept. 26, 2018) The National Association of Mutual Insurance Companies welcomed its new chairman – Henry R. Gibbel, president and CEO of Lititz Mutual Insurance Company – today... Read more

NAMIC Chairman to Shave Head and Raise Money for Childhood Cancer Research

September 21, 2018 The National Association of Mutual Insurance Companies will host a St. Baldrick's Foundation signature head-shaving event to raise funds and awareness for lifesaving childhood cancer research on... Read more

NAMIC Addresses Insurance Talent Gap Crisis by Inviting St. Mary’s University Students to Annual Convention

September 20, 2018 The National Association of Mutual Insurance Companies will welcome eight students and two of their faculty advisors from St. Mary’s University, Texas, Finance and Risk Management Program to attend its Annual Convention in San Antonio on Monday, Sept. 24. Read more

Re: House Passage of Short-Term Extension for National Flood Insurance Program

July 25, 2018 It is good news that the House voted to keep the NFIP going, but Americans who face the devasting peril of flooding should be able to hold Congress to a higher standard than simply avoiding... Read more

NAMIC Urges Senate to Act as House Passes International Insurance Standards Act in Financial Regulatory Reform Bill

July 18, 2018 The National Association of Mutual Insurance Companies is urging the Senate to act on legislation to protect domestic, state-based insurance regulation from being undermined by international standard-setting bodies after it was passed for the second... Read more

NAMIC Hails House Passage of International Insurance Standards Act

July 10, 2018 The National Association of Mutual Insurance Companies hailed today’s passage by the House of Representatives of legislation to protect domestic, state-based insurance regulation from being undermined by international standard-setting bodies. Read more

NAMIC Presents 5th Annual Award in Innovation

June 27, 2018 The National Association of Mutual Insurance Companies presented the Award in Innovation on June 27 at its 2018 Management Conference in Coronado, Calif. Mutual of Enumclaw, Enumclaw, Wash., was named the recipient of this year's award, the second... Read more

NAMIC Hits the Airwaves with New Podcast

May 29, 2018 With the launch of its new podcast, the National Association of Mutual Insurance Companies is officially on the air with news, information, and interviews focused exclusively on the property/casualty insurance industry. Insurance Uncovered is the first... Read more

House Subcommittee Hears Testimony on Automated Vehicles, Insurance from Two Members of NAMIC’s AV Council

May 23, 2018 Two representatives of the mutual property/casualty insurance industry voiced support for the continued development of automated vehicle technology today on Capitol Hill and stressed the importance of insurers in helping shape that development. Ryan ... Read more

NAMIC Welcomes Passage of Insurance Provision in Financial Regulatory Reform Package

May 22, 2018 Financial regulatory reform legislation passed by the House of Representatives today includes a provision providing guidance to federal officials on international insurance standard-setting discussions and encourages greater collaboration and ... Read more

NAMIC Urges Senate to Pass Historic Disaster Mitigation Reforms in House FAA Bill

April 27, 2018 Legislation passed by the House today to reauthorize the Federal Aviation Administration also includes provisions to better enable states and local governments to protect their communities from natural disaster. Those provisions, says the National... Read more

NAMIC Calls for Protecting U.S. Insurance Regulatory System in Financial Reform Bill

March 20, 2018 The National Association of Mutual Insurance Companies is urging Congress to include vital protections for the U.S. insurance regulatory framework in financial services regulatory reform legislation currently awaiting action in the House. In a letter ... Read more

NAMIC Responds to Florida Assignment of Benefits Legislation

February 6, 2018 "SB 1168 will have little, if any, positive effect on assignment of benefits abuse in Florida. While NAMIC members are not against the use of AOBs per se, we are against allowing anyone other than... Read more

California: NAMIC Participates in CDI Meeting on Proposed Private Passenger Auto Data Call

February 1, 2018 NAMIC attended the California Department of Insurance's industry meeting on its proposed Private Passenger Auto Vehicle Record data call. The CDI has requested insurer feedback on the draft data call... Read more

Media Statement | Michigan House Vote on No-Fault Reform Legislation

November 3, 2017 "NAMIC is disappointed that the House hasn't voted for substantial reform for the broken no-fault system. We laud the speaker and Insurance Committee Chairwoman Lana Theis for their efforts, and we call for... Read more

Media Statement | Treasury Report on Insurance

October 27, 2017 “The Treasury’s report undertakes the enormous task of evaluating the regulatory framework for the asset management and insurance industries and assessing whether it... Read more

NAMIC Welcomes FIO Reform Legislation

September 28, 2017 "The Federal Insurance Office Reform Act", introduced by Reps. Sean Duffy, R-Wis., and Denny Heck, D-Wash., would refocus the FIO on its mission to be a resource for federal policymakers and to help coordinate the U.S. message on... Read more

NAMIC Names Duffy, Heck Federal Legislators of the Year

September 27, 2017 The National Association of Mutual Insurance Companies awarded Reps. Sean Duffy, R-Wis., and Denny Heck, D-Wash., as the... Read more

New Chairman Takes the Leadership Reins at NAMIC Annual Convention

September 27, 2017 DENVER - (September 27, 2017) The National Association of Mutual Insurance Companies announced its new chairman today during the closing session of the organization's 122nd Annual Convention. Paul Ehlert, president and CEO of... Read more

NAMIC Welcomes Committee Passage of Flood Insurance Reforms to Ensure Affordability, Accountability

June 21, 2017 Legislation to reform and reauthorize the National Flood Insurance Program passed by the House Financial Services Committee today will take steps to improve the program for consumers, companies, and taxpayers... Read more

Media Statement: House Financial Services Committee Passage of Flood Insurance Legislation

June 15, 2017 Yesterday's vote by the House Financial Services Committee represents an important first step toward a stronger National Flood Insurance Program and a more competitive flood insurance marketplace. The legislation... Read more

NAMIC Welcomes House Passage of the Financial CHOICE Act

June 8, 2017 The National Association of Mutual Insurance Companies today applauded the U.S. House of Representatives for advancing the debate over reforming the nation’s financial regulatory system by passing the Financial CHOICE Act... Read more

RE: Illinois HB 2525 -- Legislators Take Step Backward on Workers' Compensation Price Control legislation

May 30, 2017 "Legislation passed by the Illinois legislature would move the state back to a time when, mimeograph machines, rotary phones and carbon paper were common. The bill, HB 2525, if signed by the Governor, would... Read more

NAMIC Urges ALI to Delay Vote on Liability Insurance Law Restatement

May 19, 2017 The American Law Institute should defer action on the proposed Restatement of the Law, Liability Insurance until serious questions from insurance regulators and the... Read more

Texas: NAMIC Commends Legislature on Passage of Hailstorm Legislation

May 18, 2017 "NAMIC is pleased the Texas Legislature devoted significant time and effort to pass House Bill 1774 aimed at curbing property insurance litigation abuse in the... Read more

NAMIC Urges Trump Administration to Seek Clarity on Covered Agreement Before Signing

May 17, 2017 The National Association of Mutual Insurance Companies today called on Treasury Secretary Steve Mnuchin and the Trump administration to seek specific clarification from... Read more

NAMIC Merit Society Scholarships Awarded

May 15, 2017 The National Association of Mutual Insurance Companies announced today the recipients of 2017-2018 scholarships awarded by the NAMIC Merit Society. Eight college students and one high school student were.. Read more

When Mother Nature Wreaks Havoc, Storm Scammers Surely to Follow

May 8, 2017 Although national forecasters are expecting a quieter-than-normal hurricane season this year, devastating storms have already hit parts of the United States. Five weather events with... Read more

Florida Assignment of Benefits

May 8, 2017 NAMIC is extremely disappointed that the Florida Senate elected not to pass meaningful legislation to address assignment of... Read more

When Mother Nature Wreaks Havoc, Storm Scammers Surely to Follow

May 3, 2017 Although national forecasters are expecting a quieter-than-normal hurricane season this year, devastating storms have already hit parts of... Read more

When Mother Nature Wreaks Havoc, Storm Scammers Surely to Follow

May 3, 2017 Although federal forecasters are expecting a quieter-than-normal hurricane season this year, devastating storms have already hit parts of... Read more

When Mother Nature Wreaks Havoc, Storm Scammers Surely to Follow

May 3, 2017 Although federal forecasters are expecting a quieter-than-normal hurricane season this year, devastating storms have already hit parts of the... Read more

NAMIC Calls for Clarity or Renegotiation on U.S.- EU Covered Agreement

May 2, 2017 The U.S. insurance industry comes out on the losing end of the covered agreement negotiated by the Obama administration and the European Union, the National Association of... Read more

Where There's a Hurricane, Storm Scammers Surely to Follow

May 1, 2017 Although federal forecasters are expecting a quieter-than-normal hurricane season this year, it is all but certain there will... Read more

Where There's a Hurricane, Storm Scammers Surely to Follow

May 1, 2017 Although federal forecasters are expecting a quieter-than-normal hurricane season this year, it is all but... Read more

Hurricane Season Approaching; Time is Now to Strengthen Homes, Buildings

April 30, 2017 Of all the natural disasters occurring in the United States, hurricanes allow for the most time to seek safety and... Read more

Hurricane Season Approaching; Time is Now to Strengthen Homes, Buildings

April 30, 2017 Of all the natural disasters occurring in the United States, hurricanes allow for the most time to seek safety and... Read more

NAMIC Hails Legislation to Curtail Bad Faith Traps in Missouri

April 27, 2017 The National Association of Mutual Insurance Companies applauded passage of HB 339 on April 26. The bill returns balance to the Missouri's civil litigation process by... Read more

NAMIC Calls on Lawmakers to Strengthen Communities Ahead of Natural Disasters

April 27, 2017 The federal government can and should do more to protect communities and prevent losses from natural catastrophes, the National Association of Mutual Insurance Companies said... Read more

NAMIC Calls for Privacy, Property Airspace Rights Up to 200 Feet for Drone Use

April 26, 2017 The National Association of Mutual Insurance Companies today called for regulatory or legislative action to establish a uniform, nationwide standard for drone use that respects the rights and privacy of... Read more

NAMIC: Auto Insurance to Evolve, Not End, in the Age of Driverless Cars

April 19, 2017 Advances in automated driving systems are increasingly blurring the lines between who is in control, the driver or the vehicle, and this raises complex questions when something goes... Read more

RE: Passage of Florida HB 221, Transportation Network Companies

April 19, 2017 "NAMIC extends its gratitude to the Florida Senate and the House of Representatives for passing transportation network company legislation, HB 221. More than thirty-eight states plus... Read more

New York: Legislature Passes State Budget

April 11, 2017 The 2017-18 New York State budget passed the Legislature on April 9. Several aspects of this budget found in S2009C / A3009C are noteworthy for property/casualty insurers. Ride-sharing provisions largely follow the... Read more

Re: ProPublica Report on Auto Insurance

April 5, 2017 The ProPublica study presents an oversimplified look at the issue. ProPublica uses average industry data on the one hand, and then tries to make its case based on the... Read more

NAMIC Commends Florida House of Representatives on Unanimous Passage of TNC Bill

April 5, 2017 NAMIC and its members appreciate the importance of business innovation, and we are pleased that the TNC bill, HB 221, has been given the green light to move forward in the Florida Legislature. Thirty-seven states plus the District of... Read more

NAMIC Hails Legislation to Preserve Competition in Auto Parts Market

April 4, 2017 The National Association of Mutual Insurance Companies welcomed introduction today of legislation to save consumer billions of dollars each year by preserving competition in the market for... Read more

RE: Florida Senate Bill 378, repeal of the premium tax credit for employing Floridians

March 21, 2017 “We are disappointed that the Florida Senate Appropriations Subcommittee on Finance and Tax approved SB 378, which would repeal a decades-old premium tax credit for... Read more

Montana: NAMIC-Supported Workers' Comp Fraud Bill Passes Out of House Committee

March 20, 2017 SB 184, Workers' Compensation, Termination of Payments Due to Fraud, which NAMIC has been actively supporting, has passed out of the House Committee on... Read more

NAMIC Calls for NFIP Reauthorization, Reform

March 16, 2017 As Congress works to reauthorize the National Flood Insurance Program, the National Association of Mutual Insurance Companies urged lawmakers to prioritize reforming the program to ensure its long-term... Read more

NAMIC Urges Action on Disaster Preparedness in Wake of Former FEMA Directors' Testimony

March 2, 2017 The National Association of Mutual Insurance Companies is urging Congress to follow the recommendations of former Federal Emergency Management Agency administrators by... Read more

NAMIC: Private Airspace Needed to Protect Property Owners From Drones

March 1, 2017 The National Association of Mutual Insurance Companies is urging the federal government to protect Americans left vulnerable to drones flying over... Read more

National Association of Mutual Insurance Companies CEO: Covered Agreement Not Agreeable

February 16, 2017 In testimony today before the House Financial Services Subcommittee on Housing and Insurance, NAMIC president and CEO Charles M. Chamness said the covered agreement recently negotiated between the United States and the European Union failed... Read more

NAMIC Urges Caution on McCarran-Ferguson Act Repeal Efforts

February 15, 2017 The National Association of Mutual Insurance Companies cautioned lawmakers against making any changes to parts of the McCarran-Ferguson Act that would negatively impact the property/casualty insurance industry. Adopted to cement the... Read more

Consumer Federation of America's Report on Auto Rates After a No-Fault Accident

February 13, 2017 The most significant news to come out of this CFA report is that it pays for consumers to shop around. NAMIC continues to have concerns about the CFA's methods and the conclusions they enable, but the report itself only underscores... Read more

Statement Re: Presidential Executive Order to Reform Dodd-Frank Act

February 3, 2017 NAMIC welcomes the call to review the Dodd-Frank Act. The 2,300-page law contains provisions that have been ineffective or damaging, and like any major legislation, also produced unintended consequences. For the property/casualty... Read more

NAMIC Calls for Elimination of the Federal Insurance Office

February 1, 2017 The National Association of Mutual Insurance Companies today called on members of Congress to take the necessary steps to formally eliminate the Federal Insurance Office, housed within the U.S. Department of the Treasury. Created by... Read more

MEDIA STATEMENT: NAMIC Response to FIO Report on Auto Insurance Affordability

January 20, 2017 "This report is disappointing, but hardly surprising. Having made use of an inherently unreliable ZIP-code-based approach to determine whether minority and low- and moderate-income consumers can afford to... Read more

NAMIC Responds to Covered Agreement Announcement

January 13, 2017 "The Covered Agreement announced today was conceived in Dodd-Frank as a proposed solution to an invented problem - the question of European regulators deeming our regulatory system equivalent. Because the agreement has the authority to... Read more

NAMIC Welcomes NAIC Selection of Consedine as CEO

December 11, 2016 The National Association of Mutual Insurance Companies welcomes the selection of Michael F. Consedine as the new CEO of the National Association of Insurance Commissioners, announced Dec. 10... Read more

House Passage of Transparent Insurance Standards Act Shows Congress' Concern on International Agreements

December 7, 2016 House passage today of HR 5143, the Transparent Insurance Standards Act of 2016, sends a much-needed message to the international standard-setting community that members of Congress believe there is a... Read more

Heck Bill Shows Bipartisan Support for Safeguarding U.S. Insurance Regulation

December 6, 2016 The National Association of Mutual Insurance Companies welcomed introduction in the House today by Rep. Denny Heck., D-Wash., of H.R. 6436, the U.S. Insurance Regulation Works Act of 2016, to... Read more

NAMIC Urges Passage of Legislation to Reform SIFI Designation Criteria

November 29, 2016 The National Association of Mutual Insurance Companies today urged members of the U.S. House of Representatives to support legislation to ensure that the process of naming financial firms "systemically important" accurately... Read more

Arbella Raises More Than $46,000 for Breast Cancer Screening

November 1, 2016 QUINCY, Mass., (Nov. 1, 2016) -- For the eighth year, Arbella Insurance Group employees have teamed up with the Arbella Insurance Foundation to raise funds for the Dana-Farber Cancer Institute. At this year's annual... Read more

NAMIC Applauds New FEMA Building Code Standards

October 28, 2016 The National Association of Mutual Insurance Companies applauds the Federal Emergency Management Agency for issuing a new policy designed to significantly increase resilience standards... Read more

Insurers Prepared for Hurricane Matthew Response

October 6, 2016 Our thoughts and prayers are with the millions of people who are in the path of this potentially devastating storm. Right now the focus is... Read more

New Chairman Takes the Leadership Reins at NAMIC Annual Convention

September 28, 2016 VANCOUVER, Canada (September 28, 2016) -- The National Association of Mutual Insurance Companies today announced its new chairman during the closing session of the organization's 121st Annual Convention. Steve... Read more

Paulsen Named NAMIC Federal Legislator of the Year

September 28, 2016 VANCOUVER, Canada (Sept. 28, 2016) -- The National Association of Mutual Insurance Companies named Rep. Erik Paulsen, R-Minn., as the association's Federal Legislator of the Year for his work to win passage of... Read more

NAMIC: Heck Bill Shows Bipartisan Support for Oversight of International Insurance Talks

September 28, 2016 The National Association of Mutual Insurance Companies welcomed introduction of the Insurance Regulation Works Act of 2016 in the House today by Rep. Denny Heck., D-Wash., to provide clear goals for U.S. negotiators in... Read more

Ohio State Senator Named NAMIC's 2016 State Legislator of the Year

September 27, 2016 VANCOUVER, British Columbia (Sept. 26, 2016) -- The National Association of Mutual Insurance Companies announced today that Ohio state Sen. Bob Hackett has been named the association's State... Read more

NAMIC Honors Service, Presents Kennedy with Chairman's Award

September 26, 2016 The National Association of Mutual Insurance Companies presented James Kennedy, former president and CEO of the Ohio Mutual Insurance Group, with the association's Chairman's Award today during the opening... Read more

USAA's Krapf Receives Insurance Education Foundation Lifetime Achievement Award

September 26, 2016 Alan Krapf, president of the USAA Property and Casualty Insurance Group was presented with the 2016 Griffith Insurance Education Foundation Lifetime Achievement Award today for his... Read more

NAMIC to Express Skepticism of FSB’s Role at Committee Hearing

September 26, 2016 The National Association of Mutual Insurance Companies will call on Congress to provide a clear mandate to federal agencies representing the United States in international negotiations to defend the U.S. insurance regulatory structure and... Read more

NAMIC Lauds Call for Risk Awareness at Senate Banking Committee Hearing on Flood Mapping

September 13, 2016 The National Association of Mutual Insurance Companies applauded comments made by witnesses at a Senate Banking hearing today urging the Federal Emergency Management Agency and National Flood Insurance Program to improve... Read more

NAMIC Named as First Member of FAA Drone Safety Team

August 5, 2016 With the initial regulations for commercial drone use set to take effect this month, the National Association of Mutual Insurance Companies is the first member named to a Federal... Read more

NAMIC Deeply Concerned With Newly Released FIO Affordability Methodology

July 14, 2016 The National Association of Mutual Insurance Companies voiced significant concerns regarding the methodology for determining auto insurance affordability recently unveiled by... Read more

FAA Reauthorization Opens Door for Drones to Speed Disaster Claims

July 13, 2016 Insurers could soon be able to speed their response to natural disasters under a provision in legislation reauthorizing the Federal Aviation Administration passed by... Read more

NAMIC Hails Appointment of Amica's Suglia to NARAB Board

July 11, 2016 The National Association of Mutual Insurance Companies welcomed the appointment of Robert Suglia, senior vice president and general counsel of Rhode Island-based Amica Mutual Insurance Company, to... Read more

NAMIC Presents 3rd Annual Award in Innovation

June 29, 2016 The National Association of Mutual Insurance Companies presented its Award in Innovation on June 29 at its 2016 Management Conference in Hilton Head Island, S.C. CAMICO Mutual Insurance Company, San Mateo, Calif., received... Read more

Flexible FAA Rule Key to Effective Commercial Drone Growth

June 21, 2016 A new rule establishing a regulatory framework for the legal use of small commercial drones issued by the Federal Aviation Administration today takes a flexible approach that will ensure... Read more

Following Committee Passage, NAMIC Urges House to Take Up Transparent Insurance Standards Act

June 15, 2016 The National Association of Mutual Insurance Companies urged the U.S. House of Representatives to swiftly take up legislation passed today by the Financial Services Committee to ensure the state-based insurance regulatory system would not... Read more

NAMIC Hails Hensarling's Financial Choice Act

June 7, 2016 The National Association of Mutual Insurance Companies welcomed the proposal for significant reform of the financial regulations enacted under the Dodd-Frank Act announced today by... Read more

NAMIC Cautiously Optimistic on Fed’s Proposed Capital Standards

June 3, 2016 As the Federal Reserve Board of Governors met today to consider proposed rules establishing capital standards for insurers under its regulatory jurisdiction, the National Association of Mutual Insurance Companies expressed... Read more

NAMIC Responds to DOL Overtime Rule

May 18, 2016 NAMIC believes the proposed increase to the salary threshold for overtime eligibility by the U.S. Department of Labor today is fundamentally misguided, and will ultimately harm the... Read more

NAMIC Urges Swift Action of National Mitigation Investment Act

May 12, 2016 The National Association of Mutual Insurance Companies is urging lawmakers to move swiftly to advance the National Mitigation Investment Act after a House subcommittee hearing today examining the rising costs of... Read more

NAMIC Supports Fundamental Change in Disaster Policy through National Mitigation Investment Act

May 10, 2016 Bipartisan legislation introduced today will fundamentally alter federal disaster policy to better protect Americans and their communities while reducing the unsustainable rise in... Read more

NAMIC Welcomes Luetkemeyer Bill Providing Needed Oversight for International Insurance Standard Efforts

April 29, 2016 Legislation introduced today by Rep. Blaine Luetkemeyer, R-Mo., provides much-needed guidance to federal agencies attempting to craft international agreements, which have the potential to... Read more

NAMIC Welcomes Altmaier as new Florida Insurance Commissioner

April 29, 2016 "NAMIC is pleased to welcome David Altmaier as Florida's new Commissioner. In his work with the National Association of Insurance Commissioners on capital adequacy, catastrophe and other risk-based capital issues, he has... Read more

NAMIC Welcomes House Passage of Legislation to Open Flood Insurance Market

April 28, 2016 Legislation passed by the U.S. House of Representatives could benefit communities and policyholders by beginning to open the flood insurance market to... Read more

NAMIC Calls on FAA, Congress to Allow for Expanded Use of Drone Technology for Insurers

March 16, 2016 Recent allowances for commercial unmanned aircraft systems by the Federal Aviation Administration have expanded the ability of some insurers to... Read more

NAMIC Encourages Congress to Build on Flood Reform Passed by House Committee

March 2, 2016 Legislation approved by the House Financial Services Committee March 2 to clarify rules for lenders when accepting private-sector flood insurance policies to meet the... Read more

NAMIC: Disaster Costs Study in FEMA Reauthorization Bill a First Step to Smarter Federal Policy

March 1, 2016 Legislation mandating a study of the costs associated with natural disasters passed by the House Feb. 29 would lead the federal government to a path toward smarter, mitigation-focused natural disaster policy. Read more

NAMIC Urges Congress to Protect U.S. Policyholders From Intrusive International Regulation

February 25, 2016 Proposed legislation intended to bolster congressional oversight of U.S. involvement in international negotiations on regulatory standards for insurance is a step in the right direction but should be made stronger to protect... Read more

NAMIC Urges Congress to Allow Insurer Drone Use During Disaster Recovery

February 12, 2016 The safe use of unmanned aerial vehicles, or “drones,” by insurers can help victims of natural disasters get back to their normal lives faster, the National Association of Mutual Insurance Companies said today. Read more

NAMIC Urges Senate to Take Up Legislation to Protect Asbestos Victims, Combat Fraud

January 7, 2016 The National Association of Mutual Insurance Companies called on Senate leaders to take up legislation passed by the House today to reduce fraud in asbestos and other class action lawsuits and ensure legitimate victims can be fully compensated. Read more

NAMIC Secures Key Victories in End of Year Legislation

December 18, 2015 Provisions in the massive legislative packages passed before Congress adjourned for the year today represent significant policy victories for property/casualty insurers, the National Association of Mutual Insurance companies said. Read more

NAMIC Praises Passage of Small Insurer Update in Tax Extenders Legislation

December 18, 2015 The National Association of Mutual Insurance Companies praised passage today of the Small Mutual Inflation Update, a provision to help small insurers grow with their communities and better serve their policyholders. Read more

NAMIC Urges Recognition for U.S. Regulatory Structure, Offers Caution on Covered Agreement

November 23, 2015 NAMIC today called on European insurance regulators to recognize the strength of the U.S. state-based insurance regulatory system, as officials on both sides of the Atlantic prepare for negotiations on a covered agreement dealing with insurance regulation. Read more

NAMIC Hails International Negotiations Transparency Provision in Federal Reserve Reform Bill

November 18, 2015 A provision included in legislation to reform the Federal Reserve passed by the House today will ensure greater transparency and accountability in international regulatory agreements, according to the National Association of Mutual Insurance Companies. Read more

NAMIC Commends Colo. Supreme Court on Litigation Loan Decision

November 17, 2015 Statement by Paul Tetrault State & Policy Affairs Counsel National Association of Mutual Insurance Companies “NAMIC is pleased that the Colorado Supreme Court upheld a lower court decision against Oasis Legal Finance, ruling that litigation finance cont... Read more

NAMIC Urges Senate to Take Up Policyholder Protection Act After House Passage

November 17, 2015 The National Association of Mutual Insurance Companies welcomed passage today of the Policyholder Protection Act by the U.S. House of Representatives and urged leaders in the Senate to advance the bill. Read more

Public Policy Paper Explores ‘Best Practices’ for Regulating Insurance Premiums, Managing Natural Catastrophe Risk

November 16, 2015 Insurance regulators seeking to “protect consumers” after a natural disaster by suppressing the rate that homeowners insurers are allowed to charge end up doing more harm than good. Read more

NAMIC Applauds House Committee Passage of the Policyholder Protection Act

November 4, 2015 The National Association of Mutual Insurance Companies welcomed passage today of the Policyholder Protection Act by the U.S. House Financial Services Committee. The bill passed by a 57-0 vote. “Being there for policyholders in times of need is what insu... Read more

NAMIC Welcomes Senate Passage of CISA

October 27, 2015 The National Association of Mutual Insurance Companies welcomed passage today of the Cyber Information Sharing Act by the U.S. Senate. “Understanding cyber threats is crucial to defending the country’s cyber networks and critical digital infrastructure ... Read more

NAMIC Opposes RRG Bill That Creates Unlevel Regulatory Playing Field

October 22, 2015 WASHINGTON, D.C., Oct. 22 – The National Association of Mutual Insurance Companies voiced strong opposition to legislation introduced Oct. 21 that would needlessly expand the ability of risk retention groups to offer coverage already available but witho... Read more

NAMIC Hails New Report Calling for National Mitigation Investment Strategy

October 19, 2015 WASHINGTON, D.C., Oct. 19 – The National Association of Mutual Insurance Companies echoed the call for a better approach to federal disaster policy through the adoption of a National Mitigation Investment Strategy, in a report released today by the Buil... Read more

NAMIC Honors Five With Service Awards at 120th Annual Convention

September 30, 2015 SAN DIEGO, Sept. 30 – The National Association of Mutual Insurance Companies recognized five individuals today for their service to NAMIC, their state association, and the entire insurance industry. Read more

NAMIC Names McCarthy Federal Legislator of the Year

September 30, 2015 SAN DIEGO, Sept. 30 – The National Association of Mutual Insurance Companies named House Majority Leader Kevin McCarthy, R-Calif., as federal Legislator of the Year during the group's 120th Annual Convention being held in San Diego this week. Read more

State Legislators of the Year Announced at NAMIC Convention

September 29, 2015 San Diego, Sept. 29 – Missouri Rep. Don Gosen and Indiana Rep. Matt Lehman were named Legislators of the Year for the 2015 legislative session by the National Association of Mutual Insurance Companies. Read more

Farmers Protective Mutual’s Fortner Named NAMIC’s Professional Farm Mutual Manager of the Year

September 28, 2015 SAN DIEGO, Sept. 28, 2015 – The National Association of Mutual Insurance Companies presented James Bradley (Brad) Fortner, chief operating office of Farmers Protective Mutual Insurance Company, with its Professional Farm Mutual Manager of the Year Award. Read more

Ohio Mutual’s Kennedy Receives a Griffith Insurance Education Foundation Award

September 28, 2015 SAN DIEGO, Sept. 28, 2015 – James Kennedy, CEO of the Ohio Mutual Insurance Group, was named the recipient of the 2015 Griffith Insurance Education Foundation Lifetime Achievement Award. Read more

Western Iowa Mutual’s Paul Receives NAMIC’s Chairman’s Award

September 28, 2015 SAN DIEGO, Sept. 28, 2015 – John Paul, president/treasurer of Western Iowa Mutual Insurance in Council Bluffs, Iowa, was presented the Chairman’s Award. Read more

NAMIC Members Gather for 120th Annual Convention

September 28, 2015 SAN DIEGO, Sept. 28, 2015 – The 120th Annual Convention of the National Association of Mutual Insurance Companies kicked off today in San Diego. Read more

Latest J.D. Power Study Finds Mutual Companies Lead the Field in Customer Satisfaction for Home Insurance

September 24, 2015 INDIANAPOLIS, Sept. 24 – Policyholders clearly recognize the value of an insurance company focused solely on their interests, according to the National Association of Mutual Insurance Companies, citing the latest J.D. Power study on consumer satisfactio... Read more

NAMIC Calls on President to Sign Windstorm Research Legislation

September 16, 2015 The National Association of Mutual Insurance Companies welcomed passage today of HR 23, the National Windstorm Impact Reduction Act Reauthorization of 2015, by the U.S. House of Representatives and urged President Obama to sign the measure into law. Int... Read more

NAMIC: Commercial Drone Use Stymied as Local, State, Federal Governments Can’t Keep Up

September 10, 2015 A lack of clear guidance applicable to the commercial use of drones continues to hamper the development of the technology and its applications, the National Association of Mutual Insurance Companies said today during a House Judiciary subcommittee hearing. Read more

Paolino Joins NAMIC State Affairs Team

August 31, 2015 The National Association of Mutual Insurance Companies announced recently the appointment of Cate Paolino as director of state affairs for the Northeast region effective Aug. 24, 2015. Paolino is based in Massachusetts and will represent NAMIC member co... Read more

A Decade After Katrina, NAMIC Urges Congress to Learn Its Lesson, Promote Mitigation

August 28, 2015 Ten years after Hurricane Katrina killed nearly 2,000 people and inflicted more than $100 billion in damage, the National Association of Mutual Insurance Companies is calling on Congress and the administration to change federal disaster policies to bett... Read more

NAMIC: Potential Costs, Lack of Transparency Make Congressional Oversight for FSB Representatives Necessary

July 8, 2015 Federal agencies representing the United States on the Financial Stability Board must act to advance U.S. interests, and Congress should be prepared to act if a course correction is needed, the National Association of Mutual Insurance Companies said tod... Read more

Re: Supreme Court Ruling on Disparate Impact Claims under the Fair Housing Act

June 25, 2015 Statement by Charles M. Chamness President and CEO National Association of Mutual Insurance Companies “NAMIC is disappointed the Supreme Court saw fit to create law today in its ruling to allow disparate impact claims in some circumstances under the Fai... Read more

NAMIC Presents 2nd Annual Award in Innovation

June 24, 2015 INDIANAPOLIS (June 24, 2015) – The National Association of Mutual Insurance Companies today presented the Award in Innovation at its 2015 Management Conference in Coeur d’Alene, Idaho. Celina Insurance Group, Celina, Ohio, captured the top award for its... Read more

Alabama Property/Casualty Consumers Now Have E-Delivery Option

June 5, 2015 Statement by Liz Reynolds Director-State Affairs, Southeast Region National Association of Mutual Insurance Companies “With the passage of SB 292 , Alabama now joins 26 other state legislatures and a handful of regulators in allowing property/casualty c... Read more

NAMIC Calls on Congress to Prepare for Hurricane Season

May 28, 2015 As thousands of Americans work to prepare their homes and businesses for the start of hurricane season on June 1, the National Association of Mutual Insurance Companies wonders why Congress isn’t taking steps to get its own house in order. “Members of C... Read more

NAMIC Voices Support for Legislation to Protect Asbestos Trusts From Fraud

May 14, 2015 The National Association of Mutual Insurance Companies urged members of the House Judiciary Committee to support legislation that would combat fraud and ensure more funds would be available to victims of asbestos exposure. H.R. 562, the Furthering Asbes... Read more

NAMIC Comments on Shelby Legislation

May 12, 2015 Statement by Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies “The legislation released by Chairman Shelby today would provide a much-needed boost to the transparency of international ne... Read more

Insurance Industry Leaders Call for Oversight, Clarity on Insurance Issues

April 30, 2015 WASHINGTON – Congressional oversight will be vital to ensuring the state-based insurance regulatory system that has protected consumers for more than 150 years is not undermined by federal or international regulatory encroachment, according to key insur... Read more

NAMIC Hails Legislation to Support Stronger, More Resilient Construction

April 15, 2015 Legislation incentivizing the adoption and enforcement of safer statewide building codes will help reduce the losses suffered during natural disasters and the ensuing need for federal disaster aid, the National Association of Mutual Insurance Companies ... Read more

NAMIC Welcomes House Bill to Help Insure Rural Areas

April 15, 2015 On the eve of the nation’s Tax Day, legislation was introduced in the U.S. House of Representatives that would help small insurance companies in rural communities better meet the needs of policyholders, according to the National Association of Mutual In... Read more

NAMIC Urges Adoption of Disaster Policy Review in FEMA Reauthorization Bill

April 14, 2015 The National Association of Mutual Insurance Companies today called on members of the House Transportation and Infrastructure Committee to pass legislation reauthorizing the Federal Emergency Management Agency and initiating a review of federal disaster... Read more

NAMIC Urges Swift Action on Commercial Drone Regulations

March 24, 2015 The National Association of Mutual Insurance Companies applauded a Senate Commerce Subcommittee for holding a hearing on the use of unmanned aircraft systems and urged the subcommittee to call for swift action from federal regulators charged with integr... Read more

NAMIC Welcomes Disaster Losses Assessment Provision in FEMA Reform Legislation

March 20, 2015 The National Association of Mutual Insurance Companies today welcomed legislation to address the rise in disaster costs to the federal government and reduce the impact of future disasters through improved efficiency and effectiveness of Federal Emergenc... Read more

Industry Perspective on North Carolina Property Insurance Legislation – HB 182

March 11, 2015 Statement By Liz Reynolds State Affairs Director, Southeast Region National Association of Mutual Insurance Companies “Newly introduced North Carolina HB 182, dubbed ‘Property Insurance Fairness,’ is an odd conglomeration of ideas from other states that... Read more

NAMIC Unveils White Paper Examining Insurance Issues for Commercial Drones

February 26, 2015 NAMIC’s white paper provides insight into the emerging issue of drones, addressing the many complicated aspects that still need resolution through the federal regulatory process before drone users will be able to adequately protect themselves from loss. Read more

NAMIC Hails Bipartisan, Bicameral Legislation to Preserve Consumer Choice in Auto Parts

February 25, 2015 Legislation to protect a free market for auto repair parts introduced with strong bipartisan support in both the House and Senate would save consumers billions of dollars each year, the National Association of Mutual Insurance Companies said today. Auto... Read more

Minnesota State Lawmaker Presented Legislator of Year Award

February 19, 2015 The National Association of Mutual Insurance Companies presented its State Legislator of the Year Award to Minnesota state Sen. James Metzen for his support of free-market principles and taking strong positions to improve the insurance market in the sta... Read more

RE: Proposed Federal Regulations for Commercial Drone Use

February 16, 2015 Statement By Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies “NAMIC applauds the new unmanned aircraft systems, or ‘drone,’ rules proposed by the Federal Aviation Administration and the... Read more

NAMIC Hails Senate Committee Passage of Bill to Ensure Coverage Availability in Rural Areas

February 11, 2015 The National Association of Mutual Insurance Companies applauded a unanimous vote by the Senate Finance Committee to pass legislation that would update a tax provision to better enable small insurers to meet their policyholders’ needs. “Today’s vote wil... Read more

Mississippi Ride-Sharing Bills Fail to Get Out of Committees

February 4, 2015 Statement By Liz Reynolds State Affairs Director, Southeast Region National Association of Mutual Insurance Companies “We are pleased that legislation that would have left drivers and passengers involved with transportation network company activities ex... Read more

NAMIC Welcomes House Hearing on Mitigation, Encourages Further Discussion

January 27, 2015 A hearing by the U.S. House Transportation and Infrastructure Subcommittee on Economic Development, Public Buildings, and Emergency Management should serve as the opening of a new debate on moving federal disaster policy toward mitigation and preventing... Read more

RE: HUD Request to Delay Action on Disparate Impact Rule

January 26, 2015 Statement By Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies “NAMIC's successful challenge that resulted in a federal district court vacating the Department of Housing and Urban Develop... Read more

Re: TRIA Reauthorization Signed Into Law

January 13, 2015 Statement by Charles M. Chamness President and CEO National Association of Mutual Insurance Companies “With the threat of terrorism continuing to be all too significant, it is vitally important that our nation employs every measure to protect ourselves ... Read more

NAMIC Launches Shared Services Initiative With American Fraternal Alliance

January 12, 2015 INDIANAPOLIS (January 12, 2015) – The National Association of Mutual Insurance Companies and the American Fraternal Alliance announced today that they have entered into a shared services agreement. Under the terms of the agreement, Alliance members will... Read more

NAMIC Hails Senate Vote to Reauthorize TRIA Program

January 8, 2015 The National Association of Mutual Insurance Companies commended the U.S. Senate for immediately taking up a bill and voting to reauthorize the Terrorism Risk Insurance Act. Read more

NAMIC: House Acts to Provide Continued Economic Security From Terrorism

January 7, 2015 The National Association of Mutual Insurance Companies welcomed passage by the U.S. House of Representatives of legislation today to reauthorize the risk-spreading program created under the Terrorism Risk Insurance Act. “TRIA provides an essential eleme... Read more

NAMIC: Failure to Reauthorize TRIA Jeopardizes Economic Security

December 17, 2014 The National Association of Mutual Insurance Companies expressed dismay at the adjournment of Congress without passage of legislation to reauthorize the risk-spreading program created under the Terrorism Risk Insurance Act. The TRIA program is set to ex... Read more

News Release: NAMIC Welcomes House Vote on TRIA, Urges Senate Action

December 10, 2014 Legislation approved by the U.S. House of Representatives today will help ensure continued protection for our nation’s economy from the threat of terrorism, said the National Association of Mutual Insurance Companies. “Today’s vote is an important step ... Read more

NAMIC Says Private Flood Insurance Can’t Exist Without Risk-Based Rates for NFIP

November 19, 2014 The National Flood Insurance Program is needed to ensure that homeowners facing significant risk of flooding can find affordable coverage, but the program needs significant reforms if Congress hopes to foster a private market for flood insurance, the Na... Read more

NAMIC Urges Congressional Oversight to Defend U.S. Markets From Global Regulation

November 18, 2014 Congress should exercise strong oversight to ensure that global negotiations on insurance regulation do not become an effort to impose a one-size-fits-all global standard onto the robust U.S. insurance marketplace, the National Association of Mutual Ins... Read more

NAMIC Calls on House to Pass Long-Term TRIA Reauthorization

November 13, 2014 The 1,400 member companies of the National Association of Mutual Insurance Companies called on lawmakers returning to Washington to move quickly to pass a long-term reauthorization of the Terrorism Risk Insurance Act. In a message sent to members of the... Read more

NAMIC Welcomes District Court Ruling to Halt Federal Overreach

November 3, 2014 The National Association of Mutual Insurance Companies hailed a ruling today by Judge Richard Leon of the U.S. District Court for the District of Columbia to vacate the U.S. Department of Housing and Urban Development's 2013 disparate impact rule. Leon ... Read more

Wisconsin State Lawmaker Receives Legislator of Year Award

October 15, 2014 The National Association of Mutual Insurance Companies presented its State Legislator of the Year Award to Wisconsin state Rep. John Nygren for his support of free-market principles and strong positions to improve the insurance market in the state. The ... Read more

Tennessee State Lawmakers Receive Legislator of Year Award

October 15, 2014 The National Association of Mutual Insurance Companies presented its State Legislator of the Year Award to three Tennessee state legislators. Reps. Curtis Johnson and Charles Sargent and Sen. Jack Johnson were named award recipients for their support of... Read more

NAMIC Statement on Latest CFA Study

September 29, 2014 Robert Detlefsen, Ph.D. Vice President, Public Policy National Association of Mutual Insurance Companies “It is hard to take seriously a survey that asks consumers to determine a ‘fair’ price for insurance coverage – any more than one would take serious... Read more

Extraordinary Panel Discusses the Future of Insurance Regulation at NAMIC Convention

September 24, 2014 All facets of the U.S. insurance regulatory structure came together at the 119th annual convention of the National Association of Mutual Insurance Companies in a first-of-its-kind panel discussion of the future of insurance regulation. Former senator an... Read more

NAMIC Presents Award to State Legislators

September 23, 2014 NATIONAL HARBOR, Md. (Sept. 24, 2014) – The National Association of Mutual Insurance Companies announced today the recipients of its State Legislator of the Year award at its 119th Annual Convention in National Harbor, Maryland. Award winners are Wiscon... Read more

Henderson Assumes Chairmanship at NAMIC Annual Convention

September 23, 2014 NATIONAL HARBOR, Md. (September 24, 2014) – Stuart Henderson, president and CEO of Western National Insurance Group in Edina, Minn., assumed the chairmanship of the National Association of Mutual Insurance Companies at its annual meeting of members toda... Read more

NAMIC Honors Five With Service Awards at 119th Annual Convention

September 23, 2014 NATIONAL HARBOR, Md. (Sept. 24, 2014) – The National Association of Mutual Insurance Companies recognized five individuals today for their service to the property/casualty insurance industry. Receiving the NAMIC Service Award at the association’s 119th ... Read more

NAMIC Names Senate Banking Committee Leaders as Federal Legislators of the Year

September 23, 2014 The National Association of Mutual Insurance Companies named Senate Banking Committee Chairman Tim Johnson, D-S.D., and ranking member Sen. Mike Crapo, R-Idaho, as the organization’s Federal Legislators of the Year during the group’s 119th Annual Conven... Read more

NAMIC Launches New Online Job Service

September 22, 2014 INDIANAPOLIS (September 23, 2014) – The National Association of Mutual Insurance Companies announced today the launch of its interactive job board, The Mutual Career Center. With its focus on mutual property/casualty insurance industry companies, The Mu... Read more

Western Iowa Mutual’s Paul Named NAMIC’s Professional Farm Mutual Manager of the Year

September 22, 2014 NATIONAL HARBOR, Md. (Sept. 23, 2014) – The National Association of Mutual Insurance Companies presented John A. Paul, president/treasurer of Western Iowa Mutual Insurance Association in Council Bluffs, Iowa, with its Professional Farm Mutual Manager of... Read more

COUNTRY’S Baurer Receives Griffith Foundation Award

September 22, 2014 NATIONAL HARBOR, Md. (Sept. 22, 2014) – The Griffith Insurance Education Foundation presented its Lifetime Achievement Award today to Barbara Baurer, chief operating officer for COUNTRY Financial in El Paso, Texas, for her commitment to education and su... Read more

NAMIC Honors Chairman’s Award Winner John Hill for Leadership, Service

September 22, 2014 NATIONAL HARBOR, Md. (Sept. 22, 2014) – John Hill, II, president and chief operating officer of New York City-based Magna Carta Companies, was presented with the National Association of Mutual Insurance Companies’ Chairman’s Award today during the assoc... Read more

NAMIC Members Gather for 119th Annual Convention

September 22, 2014 NATIONAL HARBOR, Md. (Sept. 22, 2014) – The 119th Annual Convention of the National Association of Mutual Insurance Companies kicked off today in National Harbor, Md., officially beginning the annual meeting of the largest trade association in the prope... Read more

NAMIC Lauds House Vote to Resolve Capital Standards Issue for Federal Reserve

September 15, 2014 The National Association of Mutual Insurance Companies welcomed a vote by the U.S. House of Representatives today to pass legislation that would ensure more accurate and effective regulation for those insurance companies designated for supervision by th... Read more

NAMIC Hails Senate Vote to Protect Economy from Terrorism

July 15, 2014 Legislation passed by the Senate will help prevent long-term economic damage from terrorist attacks by ensuring that insurance coverage for acts of terrorism remains available and affordable, the National Association of Mutual Insurance Companies said t... Read more

NAMIC Applauds House Passage of Windstorm Research Legislation

July 14, 2014 The National Association of Mutual Insurance Companies hailed passage today of HR 1786, the National Windstorm Impact Reduction Act Reauthorization of 2013, by the U.S. House of Representatives. Introduced by Rep. Randy Neugebauer, R-Texas, the legislat... Read more

NAMIC Presents Inaugural Award in Innovation

June 25, 2014 The National Association of Mutual Insurance Companies presented the inaugural Award in Innovation on June 25 at its 2014 Management Conference in Williamsburg, Va. Mutual of Enumclaw Insurance Company, Enumclaw, Wash., walked away with the win for its ... Read more

TRIA Reauthorization Moves Forward in House

June 20, 2014 Legislation approved 32-27 today by the House Financial Services Committee to reauthorize the risk-spreading mechanism established by the Terrorism Risk Insurance Act represents an important step forward, but several provisions continue to cause concern... Read more

NAMIC Opposes New York Car-Sharing Bill

June 19, 2014 State legislation proposed in New York to regulate car-sharing programs would likely result in lawsuits arising out of disputes over coverage, according to the National Association of Mutual Insurance Companies. As a result, NAMIC is opposed to the bill... Read more

NAMIC Welcomes Progress on TRIA Reauthorization With House Bill

June 13, 2014 The National Association of Mutual Insurance Companies welcomed the introduction of legislation to reauthorize the Terrorism Risk Insurance Act as a move toward maintaining the risk-sharing mechanism created under the law. “With just months until the TR... Read more

NAMIC Tells FIO Competition Makes Auto Insurance Affordable

June 9, 2014 The federal government should avoid imposing any regulations on insurers to impose “affordability,” the National Association of Mutual Insurance Companies said in written comments submitted to the Federal Insurance Office on Monday, June 9. Robert Detle... Read more

Re: Missouri Governor Nixon Signs Legislation Allowing Farm Mutuals to Serve Consumers via the Internet

June 6, 2014 Statement from Mark Johnston Director – State Affairs, Midwest Region National Association of Mutual Insurance Companies “Governor Jay Nixon and Missouri lawmakers took an important step in modernizing Missouri’s insurance infrastructure in enacting SB ... Read more

NAMIC Opposes Rhode Island Repair Shop Classification System

June 5, 2014 The National Association of Mutual Insurance Companies provided testimony to the Senate Judiciary Committee opposing S. 2834 that would create a dual licensing classification system for auto collision repair shops. “The legislation is totally unnecessar... Read more

NAMIC Hails Senate Passage of Capital Standards Bill

June 3, 2014 Legislation passed by the U.S. Senate today would ensure more accurate and effective regulation for those insurance companies designated for supervision by the Federal Reserve, according to the National Association of Mutual Insurance Companies. “Today’... Read more

NAMIC Urges Congress to Follow Senate Committee Vote With Swift Action on TRIA

June 3, 2014 With the Senate Banking Committee set to vote June 3 on legislation reauthorizing the Terrorism Risk Insurance Act, the National Association of Mutual Insurance Companies called on others in Congress to follow suit to maintain the program created by the... Read more

Hurricane Season Arrives June 1, The Time to Prepare for It is Now

May 29, 2014 Even though federal forecasters are expecting a slower-than-usual hurricane season that begins on June 1, the country’s largest property/casualty insurance trade association says residents of coastal regions should nonetheless be prepared. “Many times w... Read more

Re: Illinois SB 3287 – Loophole Increases Employer Risk For Tort Liability

May 22, 2014 Statement from Mark Johnston Director – State Affairs, Midwest Region National Association of Mutual Insurance Companies “ SB 3287 eliminates the workers’ compensation exclusive remedy for all safety service organizations except for those ‘wholly owned’... Read more

NAMIC Urges Connecticut Governor to Veto Storm Shutter Legislation

May 20, 2014 The National Association of Mutual Insurance Companies urged Connecticut Gov. Dannel Malloy to veto H.B. 5502 , which prevents carriers from requiring current and potential policyholders who present a heightened risk for storm damage from having to inst... Read more

NAMIC Supports Legislation to Clarify Federal Authority on Insurance

May 20, 2014 The National Association of Mutual Insurance Companies voiced strong support for legislation that would clarify oversight of some insurance-related financial entities by federal regulators and limit federal intrusion on insurance regulation at a May 20 ... Read more

NAMIC Urges Building Code Incentives as Key to Reducing Economic Losses From Natural Disasters

May 14, 2014 Federal disaster policy should shift its focus toward mitigation in order to reduce future disaster costs, the National Association of Mutual Insurance Companies said today, and creating an incentive for states to adopt and enforce strong building codes... Read more

Mutual Insurers Group Weighs in on D.C. Ridesharing Proposal

May 13, 2014 The largest property/casualty insurance trade association in the country has told the D.C. Council that it is concerned about what kind of insurance covers the growing ridesharing industry, and under what circumstances. The National Association of Mutua... Read more

NAMIC Welcomes House Bill to Maintain Competitive Insurance Markets in Rural Communities

May 9, 2014 The National Association of Mutual Insurance Companies welcomed the introduction of legislation in the House allowing small insurance companies in rural communities to better meet the needs of policyholders by easing a tax burden that has grown signific... Read more

NAMIC: RAND Study Demonstrates TRIA Crucial to U.S. Employers

May 7, 2014 A study by the RAND Corporation showing the importance of the Terrorism Risk Insurance Act in fostering a stable workers’ compensation insurance market for employers across the country demonstrates the need for the program’s swift reauthorization, the N... Read more

White House Report Shows Need for Mitigation Policy: NAMIC

May 7, 2014 The findings of an Obama administration report on climate change and its economic impact provides a substantial argument for Congress to take and adopt legislation promoting disaster mitigation, the National Association of Mutual Insurance Companies sai... Read more

NAMIC Welcomes Legislation to Bring Clarity on Capital Standards

April 29, 2014 The National Association of Mutual Insurance Companies welcomed introduction of legislation today in both the House and Senate to instruct federal regulators on the accounting standards they use to oversee insurance-related savings and loan holding comp... Read more

Insurance Industry Seeks Congressional Oversight on Global Capital Standard Development

April 24, 2014 The property/casualty insurance industry is calling on lawmakers to investigate efforts to impose European-style capital standards on insurance companies despite objections from U.S. state regulators. In a letter to members of the Senate Banking Committ... Read more

Senate Right to Extend Terrorism Insurance Program, but Co-Pay Change a Concern

April 10, 2014 The National Association of Mutual Insurance Companies welcomed a much-needed long-term extension of the federal Terrorism Risk Insurance Program introduced today in the U.S. Senate, but expressed concerns with a change to the program in the legislation... Read more

Tennessee Would Be First State in Nation to Enact Law Regulating Lawsuit Financers

April 10, 2014 Tennessee would become the first state in the country to enact legislation limiting the rate of interest that could be charged by “lawsuit financers” if Gov. Bill Haslam signs recently adopted legislation, according to the National Association of Mutual... Read more

NAMIC Opposes Rhode Island Flex-Rating Repeal

April 4, 2014 The National Association of Mutual Insurance Companies (NAMIC) opposed Rhode Island legislation, H. 7795 , that would repeal the state’s flex-rating law for personal lines. “NAMIC has long-supported flex rating as an important element of regulatory mode... Read more

Louisiana Proposal Could Hike Cost of Insurance for Consumers

March 31, 2014 A proposal in the Louisiana state Legislature to reduce the maximum deductible on named storms and require winds in excess of 125 miles per hour before the deductible could be applied would likely result in higher insurance costs for consumers if enacte... Read more

Knowing Who Bad Drivers Are Keeps Insurance Costs Lower

March 25, 2014 Safe drivers in Wisconsin will not have to subsidize the cost of insurance for drivers cited for moving violations, as state legislators adjourned earlier this week without enacting on a proposal that would have had that effect. The proposed legislation... Read more

NAMIC Opposes Legislation to Restrict Use of Aftermarket Parts in Rhode Island

March 19, 2014 The National Association of Mutual Insurance Companies offered testimony opposing legislation, H. 7404 , that would further restrict the use of aftermarket parts in auto repairs. “Car repair costs in Rhode Island are already among the highest in the cou... Read more

NAMIC Disappointed by Senate Vote to Gut Flood Insurance Reforms

March 13, 2014 The National Association of Mutual Insurance Companies expressed continued disappointment today as the Senate voted to approve House legislation to undo much-needed reforms to the National Flood Insurance Program. “Today’s vote continues a move down the... Read more

NAMIC Welcomes Hearing, Calls for Action on 'Collins Amendment,' Capital Standards

March 11, 2014 The National Association of Mutual Insurance Companies welcomed a Senate hearing on legislation to ensure that different financial industries are regulated according to appropriately focused capital standards. “In financial regulation, one size does not... Read more

Re: NAMIC Supports Hawaii’s Proposed Workers’ Compensation, Auto Insurance Medication Pricing Legislation

March 11, 2014 Statement from Christian J. Rataj Senior Director, State Affairs – West Region National Association of Mutual Insurance Companies “The proposed workers’ compensation and auto insurance medication legislation, SB 2365, SD2 , makes it less profitable for ... Read more

NAMIC: Washington ‘OverReacts’ with Flood Insurance Bill

March 4, 2014 In approving legislation to undo much-needed reforms to the National Flood Insurance Program adopted less than two years ago, the U.S. House of Representatives has overreacted to a problem facing less than one-tenth of one percent of American homeowners... Read more

NAMIC Supports Stronger Confidentiality Provisions in Massachusetts

February 27, 2014 The National Association of Mutual Insurance Companies offered testimony to the Joint Committee on Financial Services in support of H. 882 and H. 879 , concerning the confidentiality provisions related to supervisory colleges and financial examinations.... Read more

NAMIC Supports Prohibition on Billing for Emergency Response Services in Massachusetts

February 27, 2014 The National Association of Mutual Insurance Companies offered testimony in support of legislation, S. 489 , that would prohibit cities and towns from seeking reimbursement for the costs of any police, fire, or other emergency response. “Police, fire, a... Read more

RE: Maryland Legislation on Use of Deductibles

February 25, 2014 Statement from Erin Collins State Affairs Director, Mid-Atlantic Region National Association of Mutual Insurance Companies “NAMIC supports SB 887 that further clarifies the use of deductibles in Maryland. The original passage of this law contained ambig... Read more

NAMIC Calls on Senate for Swift Extension of Terrorism Risk Insurance Program

February 25, 2014 The federal Terrorism Risk Insurance Program has been an unqualified success in protecting the economy and fostering economic growth at virtually no cost to the taxpayers and should be swiftly renewed, the National Association of Mutual Insurance Compan... Read more

NAMIC: House Flood Insurance Bill a Step in the Wrong Direction

February 24, 2014 Legislation set to be voted on by the U.S. House of Representatives would roll back vital reforms to the National Flood Insurance Program and ask flood insurance policyholders from across the country to subsidize coverage for those in high risk areas, t... Read more

FASB Decision is a “Major Victory” for U.S. Insurers: NAMIC

February 19, 2014 The decision by the Financial Accounting Standards Board today to abandon its convergence efforts with the International Accounting Standards Board on insurance contracts represents a major victory for the U.S. insurance industry, according to the Natio... Read more

NAMIC Commends New York Court for Vacating Prior Decision on Insurance Coverage

February 19, 2014 The National Association of Mutual Insurance Companies welcomed a corrective decision by the New York Court of Appeals maintaining that insurance policy provisions govern the scope of coverage even when a liability insurer wrongfully declines to defend ... Read more

Colorado: NAMIC Supports Workers’ Compensation Form Approval Modernization Legislation

February 13, 2014 A workers’ compensation form approval modernization bill, SB 137 , passed out of the Colorado Senate Business, Labor, & Technology Committee on a 6-0 vote. The National Association of Mutual Insurance Companies submitted written testimony supporting pas... Read more

NAMIC Opposes Oregon Legislation on Waivers as Being Anti-Consumer Choice, Anti-Contractual Rights

February 11, 2014 The National Association of Mutual Insurance Companies has submitted written testimony to the Oregon House Committee on Consumer Protection & Government Efficiency in opposition to HB 4140. The legal scope of the bill, according to Christian Rataj, NAMI... Read more

NAMIC Supports Oregon Legislation That Provides Insurance Consumers With Electronic Delivery, Web Posting

February 11, 2014 The National Association of Mutual Insurance Companies has submitted written testimony to the House Committee on Business and Labor in support of HB 4051 , Electronic Posting of Insurance Policy Forms on Insurer Website, and HB 4052 , Electronic Deliver... Read more

Hawaii: NAMIC Opposes Unnecessary, Anti-Insurance Consumer Prompt-Pay Bill

February 6, 2014 The National Association of Mutual Insurance Companies submitted written testimony opposing SB 2245 and its companion bill HB 2403 to the Hawaii Senate and House committees on Commerce and Consumer Protection for their respective Feb. 5 public hearings.... Read more

NAMIC Supports Criminal Code Bill on Motor Vehicle ‘Chop Shops’ in Colorado

February 5, 2014 The National Association of Mutual Insurance Companies submitted written testimony in support of HB 1084 , a bill designed to reduce auto theft via stricter criminal laws against motor vehicle “chop shops.” “NAMIC supports HB 1084 because the proposed l... Read more

NAMIC Cautions Against Federal Encroachment on State Regulation

February 4, 2014 Creating new federal insurance regulations, even in a limited capacity, will not provide a panacea for the problems of the current state-based system, the National Association of Mutual Insurance Companies said today. Testifying before the House Financi... Read more

NAMIC Supports Alaska Pro-Administrative Efficiency Workers’ Compensation Medical Fees Bill

February 4, 2014 The National Association of Mutual Insurance Companies has submitted written testimony supporting an Alaska medical fees bill, HB 141 , that will expedite and economize the filing and payment of medical treatment bills for injured workers. The proposed ... Read more

RE: NAMIC Supports Alaska Underwriting Bill on Abandoned Property

February 3, 2014 Statement from Christian J. Rataj Senior Director – State Affairs, West Region National Association of Mutual Insurance Companies “NAMIC submitted written testimony supporting SB 58 that would provide insurers with the option of cancelling homeowner’s i... Read more

NAMIC: Senate Passes the Buck on Flood Insurance

January 30, 2014 Legislation approved by the Senate today to undo reforms to the National Flood Insurance Program fails to address any of the actual problems facing homeowners at risk of flooding, according to the National Association of Mutual Insurance Companies. “The... Read more

RE: Florida Governor Proposal for Sales Tax Holiday, Hurricane Preparedness Supplies

January 29, 2014 Statement from Liz Reynolds Director, State Affairs – Southeast Region National Association of Mutual Insurance Companies “NAMIC applauds Governor Rick Scott for proposing a 15-day sales tax holiday for hurricane preparedness supplies. “A tax holiday wi... Read more

Re: House Passage of the Farm Bill, H.R. 2642

January 29, 2014 Statement from Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies “The crop insurance program is a vital safety net for farmers across the country, and NAMIC applauds today’s vote by the H... Read more

Re: NAMIC Supports Hawaii’s Proposed Workers’ Compensation, Auto Insurance Medication Pricing Legislation

January 27, 2014 Statement from Christian J. Rataj Senior Director – State Affairs, West Region National Association of Mutual Insurance Companies “NAMIC submitted written testimony supporting HB 1960 because the legislation is a reasonable and balanced pro-insurance co... Read more

RE: Missouri SB 617, HB 1344 – Restoring Balance to Claims Litigation

January 27, 2014 Statement from Mark Johnston Director – State Affairs, Midwest Region National Association of Mutual Insurance Companies “ SB 617 and HB 1344 restore balance to the resolution of insurance claims in Missouri by ending the incentive for trial lawyers to ... Read more

Hawaii: NAMIC Opposes Proposed Amendment to Hawaii’s Workers’ Compensation Medical Fee Schedule Legislation

January 27, 2014 Statement from Christian J. Rataj Senior Director – State Affairs, West Region National Association of Mutual Insurance Companies “NAMIC submitted written testimony in opposition to HB 1974 , which authorizes the director to annually update the medical ... Read more

NAMIC Opposes Proposed Amendment to Hawaii’s Workers’ Compensation Physician Selection Legislation

January 24, 2014 Statement from Christian J. Rataj Senior Director – State Affairs, West Region National Association of Mutual Insurance Companies “NAMIC submitted written testimony in opposition to HB 1961 because the proposed legislation would fundamentally alter how ... Read more

NAMIC Opposes Proposed Amendment to Hawaii’s Workers’ Compensation Prompt Payment Legislation

January 23, 2014 Statement from Christian J. Rataj Senior Director – State Affairs, West Region National Association of Mutual Insurance Companies “NAMIC submitted written testimony to the Senate Committee on Judiciary and Labor in opposition to SB 2127 because the prop... Read more

NAIC Policy Statement on Open Meetings

January 21, 2014 Statement by the National Association of Mutual Insurance Companies The National Association of Mutual Insurance Companies submitted a comment letter Jan. 20 to the National Association of Insurance Commissioners regarding the NAIC’s proposed changes to... Read more

Missouri SB 609, Carrier Delivery, Consumer Access to Insurance Documents Via the Internet

January 21, 2014 Statement from Mark Johnston Director – State Affairs, Midwest Region National Association of Mutual Insurance Companies “By extending the law to Missouri’s farm mutuals, SB 609 builds upon recent groundbreaking legislation to allow consumers, at their ... Read more

NAMIC Statement on Flood Insurance Reform Delay Provision in Omnibus Spending Bill

January 14, 2014 Statement from Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies “Any delay to the reforms approved by Congress in the Biggert-Waters Act of 2012 only serves to put the taxpayers at risk ... Read more

NAMIC Urges Caution in Response to FIO Report

December 12, 2013 Congress and the Obama administration should take care in making changes to the insurance regulatory system, the National Association of Mutual Insurance Companies said today in response to the release of the Federal Insurance Office report on insurance... Read more

NAMIC Responds to CFA Report on Credit-based Insurance Scoring

December 11, 2013 Statement from Robert Detlefsen Vice President - Public Policy National Association of Mutual Insurance Companies “The report released today by the Consumer Federation of America purports to answer three questions about automobile insurers’ use of credi... Read more

NAMIC Offers Solutions on Flood Insurance Reform Implementation

November 19, 2013 Congress can ease the transition to risk-based pricing for flood insurance without delaying the much-needed reforms to put the National Flood Insurance Program on a path to fiscal viability, the National Association of Mutual Insurance Companies said to... Read more

NAMIC: TRIA Program Remains Vital to U.S. Economy

November 13, 2013 Adequate insurance coverage for major terrorist attacks would not be available without a loss control program administered by the federal government, the National Association of Mutual Insurance Companies said today. “Mutual insurance companies have an ... Read more

‘Why Not the Best?’ CFA Gives Wrong Answer on Auto Insurance Rate Regulation

November 13, 2013 A report released November 13 by the Consumer Federation of America purports to be a “review of auto insurance rate regulation in America” that shows “how best practices save billions of dollars.” However, according to Robert Detlefsen, vice president o... Read more

NAMIC Responds to Florida Legislative Discussion on Ending PIP

November 6, 2013 Statement from Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies “While we certainly appreciate Senator Simmons' concern that the PIP reforms signed into law last year by Governor Rick Scott may not work as intended, ... Read more

NAMIC: NFIP Reform Delays Could Put Policyholders, Taxpayers at Risk

October 29, 2013 Efforts to delay reforms to the National Flood Insurance Program will put homeowners and taxpayers at greater risk and could threaten the viability of the program itself, the National Association of Mutual Insurance Companies said today. “It’s understan... Read more

Florida Appeals Court Lifts Injunction Against PIP Reforms

October 24, 2013 Statement from Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies “We are pleased with the ruling and look forward to seeing the full effect of PIP reform implementation. “NAMIC believes strongly that the no-fault refo... Read more

NAMIC Submits Comments Opposing FASB Exposure Draft

October 18, 2013 The National Association of Mutual Insurance Companies submitted a comment letter Oct. 17 to the Financial Accounting Standard Boards opposing the adoption of the FASB’s Insurance Contracts Exposure draft that proposes the replacement of the entire U.S.... Read more

NAMIC Calls on Senate to Protect Flood Insurance Reforms

October 16, 2013 Reforms to the National Flood Insurance Program passed into law just last year must be allowed to proceed to begin the process of providing financial stability for the program and to continue ensuring that coverage is available, the National Association... Read more

Accessing, Obtaining Insurance Documents in Wisconsin May Soon Be Easier

October 8, 2013 While Wisconsin is already one of 28 states that allow licensed drivers to prove their insurance coverage electronically, additional legislation is needed to enable insurance consumers in the state to access and receive insurance documents online, the N... Read more

NAMIC Adds John Hair to Washington Office

October 8, 2013 John Hair, a veteran lobbyist with nearly eight years of experience, is joining the Washington, D.C., office of the National Association of Mutual Insurance Companies, the largest trade association representing property/casualty insurance companies. Hai... Read more

Mutual Insurers’ Group Offers Hurricane Tips

October 4, 2013 As much of the Gulf Coast is placed on high alert because of Tropical Storm Karen, the National Association of Mutual Insurance Companies is advising residents in the affected states on what they can do to minimize their risk should the storm hit where ... Read more

NAMIC Honors Four with Service Awards at 118th Annual Convention

September 24, 2013 The National Association of Mutual Insurance Companies has recognized four individuals for their service to the property/casualty insurance industry. Receiving the NAMIC Service Award today at the association’s 118th Annual Convention in Seattle were Ro... Read more

NAMIC Calls for Swift Reauthorization of TRIA Program to Help Protect Economy

September 24, 2013 The loss management plan created under the Terrorism Risk Insurance Act remains a vital part of our national economic security and Congress should act swiftly to reauthorize the program, the National Association of Mutual Insurance Companies said today.... Read more

NAMIC's Farm Mutual Conference Names Its 2013-2014 Board of Directors

September 24, 2013 The National Association of Mutual Insurance Companies has announced the board of directors of its Farm Mutual Conference for 2013-2014 during the conferences Annual Business Meeting at NAMIC's 118th Annual Convention in Seattle, Wash. Directors serve t... Read more

NAMIC's Property Casualty Conference Announces 2013-2014 Board of Directors

September 24, 2013 The National Association of Mutual Insurance Companies announced the board of directors of its Property Casualty Conference for 2013-2014 during the conference’s Annual Business Meeting at NAMIC's 118th Annual Convention in Seattle, Wash. Directors serv... Read more

Mt. Carroll Mutual’s Mickley Named Professional Farm Mutual Manager of the Year by NAMIC

September 23, 2013 Click image for print quality. The National Association of Mutual Insurance Companies presented Tricia Mickley, secretary/treasurer of Mt. Carroll Mutual Insurance Company in Mt. Carroll, Ill., with its Professional Farm Mutual Manager of the Year Award... Read more

NAMIC Honors Chairman’s Award Winner Bykowski for Leadership, Service

September 23, 2013 The National Association of Mutual Insurance Companies named John Bykowski, president and CEO of SECURA Insurance in Appleton, Wis., as the recipient of its 2013 Chairman’s Award today during its 118th Annual Convention in Seattle. “The Chairman’s Award... Read more

NAMIC Members Gather for 118th Annual Convention

September 20, 2013 The 118th Annual Convention of the National Association of Mutual Insurance Companies kicked off today in Seattle, Wash., bringing together more than 1,200 NAMIC member company representatives and another 700 in affiliated businesses. NAMIC Chairman Jer... Read more

100 Years of Service: Eight New Members Join NAMIC’s ‘Century Club’

September 20, 2013 The National Association of Mutual Insurance Companies recognized eight of its member companies as new members of the “Century Club” in recognition of their 100th anniversary. “In the past one hundred years, we’ve seen the Great Depression and more than... Read more

NAMIC: TRIA Remains Vital to National, Economic Security

September 19, 2013 The National Association of Mutual Insurance Companies called on lawmakers today to swiftly reauthorize the Terrorism Risk Insurance Act, in advance of a hearing on the issue by the House Financial Services Committee. “For over a decade, the risk-sharin... Read more

Efforts to Delay Implementation of NFIP Reforms Under the Biggert-Waters Act

September 18, 2013 Statement From Jimi Grande Senior Vice President of Federal and Political Affairs National Association of Mutual Insurance Companies “NAMIC strongly urges Congress to resist any efforts to delay the reforms adopted under the Biggert-Waters Act, which wa... Read more

NAMIC Welcomes House Passage of NARAB II Legislation

September 10, 2013 The National Association of Mutual Insurance Companies applauded passage today of HR 1155, the National Association of Registered Agents and Brokers Act of 2013, known as NARAB II, by the U.S. House of Representatives. “By streamlining the licensing pro... Read more

Arkansas: NAMIC Files Amicus in Arkansas Supreme Court Case on Depreciation of Labor

August 30, 2013 Attorneys for NAMIC filed an amicus brief with the Arkansas Supreme Court on Thursday, in support of Cameron Mutual Insurance Company’s efforts to allow insurers to take depreciation on labor. The case, Adams v. Cameron Mutual Insurance Company, was ori... Read more

NAMIC Welcomes Sandy Task Force Recommendation on Building Codes

August 19, 2013 The National Association of Mutual Insurance Companies welcomed a call in a report by the task force overseeing recovery efforts from Hurricane Sandy for states and communities to better protect their citizens by adopting statewide model building codes ... Read more

NAMIC Responds to Latest CFA Survey

July 23, 2013 Robert Detlefsen, Ph.D. Vice President, Public Policy National Association of Mutual Insurance Companies “The Consumer Federation of America’s news release describes the ‘findings’ of ‘a new analysis’ that the organization claims to have performed regar... Read more

NAMIC Statement on FSB Designation of Global Insurers as ‘Systemically Important’

July 19, 2013 Statement From Charles M. Chamness President & CEO National Association of Mutual Insurance Companies WASHINGTON, D.C., July 19, 2013 – Charles M. Chamness, president and CEO of the National Association of Mutual Insurance Companies, issued a statem... Read more

Oregon Legislature Says ‘No’ to Plaintiff Attorney Efforts to Increase Their Profits at Expense of Insurance Consumers

July 9, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies RE: Oregon Legislature Says ‘No’ to Plaintiff Attorney Efforts to Increase Their Profits at Expense of Insurance Consumers “NAMIC commends the Orego... Read more

Wisconsin AB 81 (Consumer Protection From Storm Scammers)

July 8, 2013 Statement of Mark Johnston State Affairs Manager – Midwest Region National Association of Mutual Insurance Companies Re: Wisconsin AB 81 (Consumer Protection From Storm Scammers) “Wisconsin placed a large ‘Storm Scammers Not Welcome Sign’ on the state’s... Read more

NAMIC Opposes Massachusetts Legislation to Set Auto Labor Rates

June 20, 2013 In testimony submitted to the Joint Committee on Financial Services, the National Association of Mutual Insurance Companies opposed legislation, H. 969 and S. 497 , that would require the state to set a minimum hourly labor rate that insurers must pay f... Read more

FIO Annual Report

June 12, 2013 Statement From Jimi Grande Senior Vice President, Federal and Political Affairs RE: Federal Insurance Office Annual Report “The FIO Annual Report shows the continued strength of the property/casualty insurance industry despite the financial crisis and s... Read more

Nevada Governor Protects Businesses, Insurance Consumers From Joint And Several Liability Bill

June 11, 2013 Nevada Gov. Brian Sandoval vetoed AB 240 , a bill that would have created a legal uncertainty for civil lawsuit defendants and liability insurance policyholders. The legislation would have placed defendants in auto accident lawsuits in the position of n... Read more

New York Legislature, ‘Sandy’-Related Bills

June 11, 2013 Statement from John P. Murphy State Affairs Manager National Association of Mutual Insurance Companies RE: New York Legislature, ‘Sandy’-Related Bills “NAMIC urges the New York state Senate to reject the package of Sandy-related bills that the Assembly ... Read more

NAMIC Urges Lawmakers to Focus on Disaster Mitigation

June 5, 2013 Supporting research and mitigation efforts can help communities better withstand natural disasters and reduce the need for federal aid in rebuilding, the National Association of Mutual Insurance Companies said today in support of testimony by the Insura... Read more

Missouri HB 322

May 31, 2013 Statement From Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies RE: Missouri HB 322 “In an era where smart phones can be used to conduct virtually any kind of transaction, it only makes sense that drivers can use th... Read more

Nevada Joins List of States That Have Embraced Insurance Rate Modernization

May 29, 2013 Statement From Christian Rataj State Affairs Manager National Association of Mutual Insurance Companies Re: Nevada Joins List of States That Have Embraced Insurance Rate Modernization “NAMIC commends the Nevada Legislature, Governor Brian Sandoval, and ... Read more

NAMIC: Long-Term TRIA Reauthorization Bill Vital for Economic Growth, Security

May 23, 2013 Swift passage of a 10-year Terrorism Risk Insurance Act Reauthorization bill introduced today will maintain America’s economic security and foster continued development in cities across the country while protecting the economy from terrorism, according ... Read more

NAMIC Opposes Gun Liability Measure Before D.C. City Council

May 16, 2013 Statement From Erin Collins State Affairs Manager National Association of Mutual Insurance Companies Re: the Firearm Insurance Amendment Act of 2013. “NAMIC delivered testimony today to the Washington, D.C. City Council asking them to reject B20-170, th... Read more

NAMIC Calls for Building Code Update for Shelby County, Tenn.

May 15, 2013 Statement From Erin Collins State Affairs Manager National Association of Mutual Insurance Companies “We strongly urge the Shelby County Board of Commissioners in Memphis, Tenn., to adopt updates to their building codes, including immediate implementati... Read more

NAMIC Comments on Mo. Senate Passage of Fairness for Responsible Drivers Act

May 14, 2013 Statement From Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies “By passing HB 339 , the Fairness for Respo nsible Drivers Act, the Missouri General Assembly took a major step forward toward reducing the number of u... Read more

NAMIC: Safe Building Code Incentives an Investment in a Stronger, Safer America

May 8, 2013 Congress should act to create financial incentives for states to adopt and enforce statewide model building codes to prevent losses from natural disasters, save lives, and reduce the need for taxpayer-funded disaster aid, the National Association of Mut... Read more

Florida Drug Repackaging Bill

May 6, 2013 Statement From Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies “NAMIC is pleased that the Florida Legislature has addressed the pernicious and costly practice of drug repackaging that has weighed down the state’s wo... Read more

Florida Legislature Passage of Citizens Property Insurance Corporation Bill

May 3, 2013 Statement from Liz Reynolds State Affairs Manager “It is good that the state Legislature gave its attention to Citizens Property Insurance Corporation, recalibrating its size and place in Florida’s insurance market to reflect its original purpose. Havin... Read more

Mutual Insurers’ Group Offers Wildfire Precautions

May 2, 2013 As much of California was placed under a “fire warning” Wednesday amid a recent outbreak of wildfires, the National Association of Mutual Insurance Companies is advising residents in the state on what they can do to minimize their risk should fires brea... Read more

Wisconsin Legislation Strengthening Protections Against ‘Storm Scammers’

May 1, 2013 Statement of Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies “NAMIC urges the Assembly Insurance Committee to approve AB 91, which will strengthen consumer protections against storm scammers, those unscrupulous con... Read more

Florida House Committee Rejects Repeal of Insurance Jobs Tax Credit

April 26, 2013 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies Florida House Appropriations Committee Vote to Reject Repeal of Insurance Jobs Tax Credit “As Florida continues its struggle to recover from the Great Rec... Read more

Florida: Lawmakers Urged to Keep Tax Credit for Florida Jobs in Place

April 24, 2013 As Florida continues its struggle to recover from the Great Recession, efforts to repeal a $250 million a year tax credit available to one industry with strong employment growth would be “taking one step forward … two steps back,” according to the Natio... Read more

Michigan No-Fault Reforms

April 24, 2013 Erin Collins State Affairs Manager National Association of Mutual Insurance Companies Re: Michigan No-Fault Reforms “NAMIC is supportive of Representative Pete Lund’s HB 4612, as it is a step in the right direction toward rescuing Michigan’s failing no-... Read more

NAMIC HAILS BIPARTISAN INTRODUCTION OF PARTS ACT IN HOUSE AND SENATE

April 23, 2013 Legislation to protect a free market for auto repair parts introduced in both the House and Senate today with strong bipartisan support would save consumers billions of dollars each year, according to the National Association of Mutual Insurance Compani... Read more

Florida Circuit Court Lifts Stay on Injunction Halting Pip Reforms; NAMIC Comments

April 23, 2013 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies “NAMIC disagrees with the judge's action, and we are coordinating a legal response with our allies in Florida. “We believe strongly that the no-fault refo... Read more

Kansas Governor Signs Roofing Registration Bill

April 22, 2013 Statement of Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies “By signing HB 2024, the Roofing Registration Act, Governor Brownback strengthened consumer protections against storm scammers, those unscrupulous contra... Read more

NAMIC Encouraged by Michigan Governor’s No-Fault Reform Plan

April 19, 2013 Statement of Erin Collins State Affairs Manager National Association of Mutual Insurance Companies “Michigan’s no-fault system includes a mandatory lifetime medical benefit, giving consumers no choice in insurance products and forcing them to purchase t... Read more

Kansas HB 2024 (Roofing Registration Act)

April 15, 2013 “Protecting consumers from storm scammers – those unscrupulous contractors who swarm into an affected area after a weather disaster seemingly out of nowhere – is an important priority for the 135 NAMIC member insurance companies doing business in Kansas... Read more

Idaho Joins Growing Ranks of States Allowing Electronic Communications, Proof Insurance on Mobile Communications Devices; NAMIC Comments

April 9, 2013 “NAMIC commends the Idaho state Legislature and Governor Butch Otter for passing a consumer-friendly, environment-friendly, and law-enforcement-friendly electronic proof of insurance and electronic communications bill that addresses the modern realities... Read more

NAMIC Applauds Focus on Mitigation at Senate Hearing on Sandy Recovery

March 20, 2013 Testimony from agencies who oversee the federal response to natural catastrophes at a Senate Committee hearing today continued to support efforts towards stronger building codes, the National Association of Mutual Insurance Companies noted. At a hearing... Read more

NAMIC Responds to Ceres Climate Disclosure Report

March 7, 2013 “To take the Ceres report seriously, one must start from the premise that the report's authors have a better understanding of the relationship between insurance risk and climate change than do the insurance companies whom they presume to criticize. “It'... Read more

NAMIC Opposes Nebraska Bill to Ban Pro-consumer Underwriting Tool

February 26, 2013 “NAMIC opposes LB 92 that would prohibit the use of a valuable, pro-consumer underwriting tool. Simply put, credit-based information lowers the cost of insurance for more people and opens the private insurance market to consumers who once were shut out.... Read more

Insurance Consumers in Washington State Can Breathe Easy Again; Proposed CBIS Ban Bill Dead In Legislature

February 25, 2013 “NAMIC applauds the Washington State Legislature for protecting insurance consumers from a proposed ban on the use of credit-based insurance scoring in underwriting and rating of homeowners’ insurance. “NAMIC, in conjunction with other stakeholders in t... Read more

NAMIC Advocates for Strong Building Codes in Maryland, Submits Testimony

February 22, 2013 The National Association of Mutual Insurance Companies (NAMIC) submitted testimony yesterday to the House Environmental Matters Committee asking for its support of HB 769. The measure allows local jurisdictions to adopt amendments to the wind design and... Read more

NAMIC Welcomes TRIA Reauthorization Bill

February 5, 2013 The National Association of Mutual Insurance Companies welcomed the introduction today of legislation to maintain the risk-sharing model established by the Terrorism Risk Insurance Act. Introduced by Reps. Michael Grimm, R-N.Y., Carolyn Maloney, D-N.Y.,... Read more

Connecticut Considers Reducing Flex Band; NAMIC Opposes

February 1, 2013 The National Association of Mutual Insurance Companies (NAMIC) provided testimony Jan. 31 to the Insurance and Real Estate Committee of the Connecticut Legislature supporting a bill that would extend the sunset date for flex-rating filings to July 1, 20... Read more

NAMIC Submits Written Testimony in Opposition to Hawaii’s No-Fault Insurance Electronic Verification Reporting Bill

January 31, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies “ HB 157 is a no-fault insurance electronic verification reporting bill with the stated purpose of reducing traffic congestion in the state. NAMIC p... Read more

NAMIC Submits Written Testimony Supporting Wyoming's Insurance Guaranty Association Act Modernization Bill

January 29, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies " SF 113 would update the Wyoming Insurance Guaranty Association Act in a pro-insurance consumer way by waiving the insurance consumer’s deductible;... Read more

NAMIC Submits Written Testimony to Montana Committee Supporting Civil Judgment Interest Reform Bill

January 29, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies " HB 225 would amend the civil judgment interest rate on a claim for an injury from the current 10 percent per year to an interest rate equal to the... Read more

NAMIC Asks Idaho Legislators to Vote ‘Yes’ on Auto Insurance Renewal Bill

January 29, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies “ HB 11 amends state law to allow an insurer the option of not renewing an automobile insurance policy, if the motor vehicle is registered in a juri... Read more

Consumer Federation of America Releases New 'Report,' NAMIC Comments

January 28, 2013 Statement of Robert Detlefsen, Ph.D. Vice President of Public Policy National Association of Mutual Insurance Companies “CFA’s 'report' is not a report; it’s a press release. A report that describes research findings should contain, at minimum, a detail... Read more

Sen. Nelson Appointment as NAIC CEO

January 22, 2013 Statement of Charles M. Chamness President & CEO National Association of Mutual Insurance Companies "As a state insurance regulator, governor, and U.S. senator, Ben Nelson has shown that he understands the role and value of free enterprise unburdene... Read more

NAMIC Applauds Virginia Senate General Laws’ Opposition to Accident Response Fees

January 22, 2013 The Senate General Laws Committee last night defeated SB 881, a measure that would allow localities to adopt ordinances to directly bill insurance companies on behalf of local volunteer fire/EMS departments for responding to emergency automobile acciden... Read more

NAMIC Submits Written Testimony in Opposition to Wyoming Bill That Could Turn Every Minor Insurance Dispute Into an Unfair Trade Practices Act Claim

January 21, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies “NAMIC is actively opposing SF 59 , Insurance-Consumer Protections, because the proposed legislation is unnecessary, excessive, and likely to encour... Read more

Legislation Introduced in Wyoming to Codify Common Law Doctrine on Landowner's Duty to Trespassers; NAMIC Comments

January 16, 2013 "NAMIC supports the Wyoming Legislature in its effort to clarify and codify the common law doctrine of limited liability exposure to trespassers. SF 70 clearly states that a land owner or possessor has no duty to maintain the premises in a safe conditio... Read more

NAMIC Opposes Legislative Attempt in Wyoming to Impose Covert Taxation on Auto Insurance Consumers, Via Mandated Insurance Coverage

January 16, 2013 "NAMIC submitted written testimony in opposition to HB 118 , Insurance Coverage for Vehicle Accident Cleanup Costs because the proposed legislation is really just a liability-based crash tax and a form of hidden double-taxation on auto insurance consume... Read more

'Storm Scammer' Residential Roofing Repair Consumer Protection Bill Introduced in Wyoming; NAMIC Comments

January 15, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies "NAMIC applauds state Representatives James Byrd and Glenn Moniz on introducing legislation to protect citizens of the state from being scammed by f... Read more

Wyoming's Electronic Proof of Insurance Legislation Makes Sense For Consumers, Insurers, Law Enforcement; NAMIC Comments

January 15, 2013 Statement of Christian J. Rataj State Affairs Manager National Association of Mutual Insurance Companies "NAMIC commends the Wyoming Legislature for considering a consumer-friendly, environment-friendly, and law-enforcement-friendly proof of insurance b... Read more

NAMIC: Expected HUD Rule Will Mean Higher Costs for Consumers

January 10, 2013 Regulations from the Department of Housing and Urban Development that could target any underwriting factor used for homeowners insurance that creates a disparate impact on a protected class, regardless of intent, could undermine the underwriting process... Read more

New York Governor Calls for Additional Workers' Compensation Reforms; NAMIC Comments

January 9, 2013 Statement of John Murphy State Affairs Manager National Association of Mutual Insurance Companies “NAMIC applauds Governor Andrew Cuomo’s on-going commitment to improving New York’s workers’ compensation system. NAMIC supports many of the workers’ compe... Read more

NAMIC: NFIP Funding will help Recovery for Sandy Victims, Building Codes Legislation will Help Victims of Next Natural Disaster

January 4, 2013 The National Association of Mutual Insurance Companies applauded the House of Representatives and Senate for acting today to extend the borrowing authority of the National Flood Insurance Program, providing funding to pay claims related to Super Storm S... Read more

NAMIC Encouraged by NFIP Vote, Encourages Safe Building Incentives in Future Sandy Bill

January 3, 2013 "NAMIC welcomes the House of Representatives' scheduled vote on Friday, January 4, to increase the borrowing authority of the National Flood Insurance Program, and we urge the Senate to swiftly follow suit to ensure the federal government meets its obli... Read more

Congressional Passage of SMART Act

December 26, 2012 "Congressional passage of the SMART Act will help create a clear set of rules to help ensure swift settlements of claims and reduce waste and fraud costs for the Medicare Trust. The bill had strong bipartisan support, and NAMIC applauds both chambers fo... Read more

NAMIC Hails Senate Introduction of the Safe Building Code Incentive Act

December 19, 2012 The National Association of Mutual Insurance Companies applauded the introduction of legislation in the U.S. Senate today to reduce the loss of lives and property from natural disasters by incentivizing the adoption and enforcement of building codes by ... Read more

NAMIC: House Passage of Medicare Secondary Payer Reforms a Win for All

December 19, 2012 Legislation passed by the House today to clarify rules governing the Medicare Secondary Payer system will help consumers, insurers and the federal government save time and money, according to the National Association of Mutual Insurance Companies. Intro... Read more

NAMIC Testifies on Catastrophe Issues, Noting Insurers’ High Level of Claims Processing Performance, Citing Concern Regarding State Actions, Declarations

December 3, 2012 NAMIC State and Policy Affairs Counsel Paul Tetrault testified before the NAIC’s Property and Casualty Committee during a Dec. 2 hearing on catastrophe claims issues, telling regulators that insurers perform well in processing claims following catastrop... Read more

Proposed Basel III Capital Standards Not Appropriate for Insurers

November 29, 2012 Congress should continue to pressure federal regulators to carefully tailor recently proposed capital standards to accommodate the unique business model of savings and loan holding companies primarily engaged in the business of insurance, Jimi Grande, s... Read more

New NAMIC Report Examines European, U.S. Approaches to Insurer Solvency Regulation

November 29, 2012 The National Association of Mutual Insurance Companies today released a report that examines efforts by European and U.S. insurance regulators to modernize the system for overseeing the financial condition of insurance companies. The new report, “Insura... Read more

NAMIC President Speaks at Florida Industry Summit

November 28, 2012 NAMIC President Chuck Chamness was a featured speaker Nov. 28 during this year’s Florida Chamber of Commerce Annual Insurance Summit being held Nov. 28-30. Chamness spoke on “Florida in the National Picture.” He praised Florida as a “leader in creating ... Read more

South Carolina Governor Names Insurance Director

November 13, 2012 Gov. Nikki Haley today named Ray Farmer as director of the state's insurance department. Farmer is a long-time executive with the American Insurance Association. "Ray has worked in South Carolina, as well as other southeastern states, for many years," s... Read more

NAMIC Comments on NAIC Proposed Budget

November 12, 2012 In comments submitted on Nov. 9, the National Association of Mutual Insurance Companies (NAMIC) expressed concern with various aspects of the National Association of Insurance Commissioners' proposed 2013 budget, which will be the subject of a public he... Read more

"Super Storm" Sandy and Hurricane Deductibles

November 11, 2012 Statement of Jimi Grande Senior Vice President, Federal and Political Affairs National Association of Mutual Insurance Companies "Facing the largest natural disaster since Hurricane Katrina, America's property/casualty insurers have already begun paying... Read more

NAMIC Comments on MIA Super Storm Sandy Bulletin

November 6, 2012 NAMIC submitted written testimony today to the Maryland Insurance Administration in reference to Bulletin 12-24 released by the MIA in the aftermath of Superstorm Sandy on Oct. 29, 2012. Emphasizing the importance of peril percentage deductibles to a th... Read more

NAMIC Welcomes Senate Introduction of Small Mutual Inflation Update

September 21, 2012 WASHINGTON (September 21, 2012) Legislation to adjust the tax code introduced in the U.S. Senate will help protect rural communities across the country by improving access to affordable insurance coverage, according to the National Association of Mutual... Read more

NAMIC Promotes Strong Building Codes for Shelby County, Tennessee

September 20, 2012 Statement of Erin Collins State Affairs Manager National Association of Mutual Insurance Companies "We strongly urged the Shelby County commissioners in Memphis, Tennessee, to adopt updates to their building codes at their meeting yesterday, including i... Read more

NAMIC Presents Service Awards at 117th Annual Convention

September 19, 2012 GRAPEVINE, Texas (Sept. 19, 2012) - The National Association of Mutual Insurance Companies (NAMIC) honored four individuals with Service Awards today during the Annual Meeting of Members at the association's 117th Annual Convention. Paul Baiocchi, Thoma... Read more

NAMIC Hands Gavel to New Chairman

September 19, 2012 GRAPEVINE, Texas (Sept. 19, 2012) - The National Association of Mutual Insurance Companies (NAMIC) swore in its newest chairman of the board of directors today. Jerrold G. Zenke began his year as chairman at the end of the Annual Business Meeting of Mem... Read more

NAMIC Presents State Legislator of Year Award to Michigan Legislator

September 19, 2012 GRAPEVINE, Texas (Sept. 19, 2012) - The National Association of Mutual Insurance Companies (NAMIC) presented its State Legislator of the Year award today to state Rep. Paul Opsommer, R-Mich., for his support of free-market principles and taking strong p... Read more

Sens. Jon Tester, David Vitter Named NAMIC's Federal Legislators of the Year

September 19, 2012 GRAPEVINE, Texas (Sept. 19, 2012) The National Association of Mutual Insurance Companies (NAMIC) announced at its annual convention in Grapevine, Texas, that Sens. Jon Tester, D-Mont., and David Vitter, R-La., have been named Federal Legislators of the ... Read more

NAMIC Praises Introduction of Bill to Clarify FDIC's Orderly Liquidation Authority

September 18, 2012 WASHINGTON (September 18, 2012) Last week's introduction of legislation to clarify the Federal Deposit Insurance Corporation's authority with respect to resolving failing financial institutions will help protect insurers from being on the hook for other... Read more

NAMIC's Farm Mutual Conference Names Its 2012-2013 Board of Directors

September 18, 2012 GRAPEVINE, Texas (Sept. 18, 2012) - The National Association of Mutual Insurance Companies (NAMIC) named its Farm Mutual Conference board of directors for 2012-2013 during the Farm Mutual Conference Annual Business Meeting at NAMIC's 117th Annual Conven... Read more

NAMIC's Property Casualty Conference Names Its 2012-2013 Board of Directors

September 18, 2012 GRAPEVINE, Texas (Sept. 18, 2012) - The National Association of Mutual Insurance Companies named its Property Casualty Conference board of directors for 2012-2013 during the Property Casualty Conference Annual Business Meeting at NAMIC's 117th Annual Co... Read more

NAMIC Honors Wayne White With Chairman's Award

September 17, 2012 GRAPEVINE, Texas (Sept. 17, 2012) - The National Association of Mutual Insurance Companies (NAMIC) today named Wayne White, president of Farmers Union Mutual Insurance Company, Bryant, Ark., as the association's 2012 Chairman's Award winner. NAMIC's 201... Read more

NAMIC Names Maas as Professional Farm Mutual Manager of the Year; Inducts 2012 PFMM Class

September 17, 2012 GRAPEVINE, Texas (September 17, 2012) - The National Association of Mutual Insurance Companies (NAMIC) today presented its Professional Farm Mutual Manager of the Year Award and inducted the 2012 PFMM class during the organization's 117th Annual Convent... Read more

NAMIC Kicks Off 117th Annual Convention

September 16, 2012 GRAPEVINE, Texas (Sept. 16, 2012) – Members of the National Association of Mutual Insurance Companies (NAMIC) descended upon Grapevine, Texas, gathering for the 117th Annual Convention that officially kicks off today. NAMIC’s 2011-2012 Chairman James Ke... Read more

RE: Illinois Proposed Regulation on Workers' Compensation Reimbursement For 'Repackaged' Drugs

September 14, 2012 "NAMIC urges the General Assembly's Joint Committee on Administrative Rules to support the proposed amendment to the state's workers' compensation regulations. As proposed, the amendment will moderate the cost of 'repackaged' prescriptions that are disp... Read more

Six NAMIC Member Companies Join 'Century Club'

September 14, 2012 INDIANAPOLIS (Sept. 14, 2012) - Six mutual insurance companies have been inducted into the National Association of Mutual Insurance Companies' (NAMIC) Century Club in recognition of 100 years of serving their policyholders. The six companies will receiv... Read more

NAMIC: TRIA Protects Taxpayers from Terrorism Losses

September 11, 2012 WASHINGTON (Sept. 11, 2012) The program created under the Terrorism Risk Insurance Act has fostered private sector participation in the terrorism risk insurance marketplace and reduced the potential expense for the federal government, said the National ... Read more

NAMIC Comments on MIA Draft Regulation on Deductibles

September 7, 2012 The National Association of Mutual Insurance Companies submitted written testimony today to the Maryland Insurance Administration in reference to draft regulation 31.08.13 - Application of a Percentage Deductible in the Case of a Hurricane or Other Stor... Read more

RE: Illinois SB 2524 (Insurance Coverage for School Buses)

August 27, 2012 Statement of Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies "NAMIC commends Governor Pat Quinn for signing SB 2524 that updates insurance standards for the operators of school buses. This important piece of legisl... Read more

RE: Florida OIR Report on Savings From PIP Reform

August 22, 2012 August 22, 2012 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies "The final OIR report on potential savings from the PIP reform again reiterates the positive progress made by the Legislature to address t... Read more

NAMIC Appoints State Affairs Manager for Northeast

August 17, 2012 The National Association of Mutual Insurance Companies (NAMIC) has named John Murphy as its state affairs manager for the Northeast United States. He will represent NAMIC members in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York,... Read more

NAMIC: PARTS Act Would Protect Billions in Savings for Consumers

August 1, 2012 WASHINGTON (August 1, 2012) Consumers benefit from a competitive market for aftermarket auto parts and would be forced to pay more for repairs if auto companies are able to obtain excessive patents for cosmetic parts, according to the National Associati... Read more

NAMIC CEO Calls for Strong Oversight of Dodd-Frank Implementation

July 24, 2012 WASHINGTON (July 24, 2012) Congress should continue its strong oversight of the implementation of the Dodd-Frank Act to prevent the expansion of the agencies created by the law and reduce uncertainty for property/casualty insurers, Charles M. Chamness, ... Read more

NAMIC: Build Stronger to Save Lives and Taxpayer Dollars

July 24, 2012 WASHINGTON (July 24, 2012) Congress can help to save lives and reduce the need for federal disaster aid for the next natural catastrophe by incentivizing the adoption of enforcement of strong building codes, the National Association of Mutual Insurance ... Read more

NAMIC Names State Affairs Manager

July 18, 2012 The National Association of Mutual Insurance Companies (NAMIC) announced recently the appointment of Paul T. Martin as state affairs manager for the southwest region of the United States. Martin will be responsible for Arizona, Arkansas, Louisiana, New ... Read more

NAMIC: NFIP Reforms 'Cross the Goal Line' with Congressional Approval

June 29, 2012 WASHINGTON (June 29, 2012) – Reforms passed by Congress today will bring stability and fiscal responsibility to the National Flood Insurance Program, according to the National Association of Mutual Insurance Companies (NAMIC). "NAMIC has long been an ad... Read more

Rhode Island Governor Vetoes Auto Body Bill; NAMIC Comments

June 26, 2012 "NAMIC extends its appreciation to Governor Lincoln Chafee for his leadership in vetoing H-7782 Sub A that would have created a new private right of action for auto body shops and limit the circumstances in which a vehicle could be declared a total loss... Read more

House Adopts NFIP Reform, 60-Day Extension

May 30, 2012 “Today’s House vote helps ensure that there will be no lapse of the National Flood Insurance Program, and enacts the first of many much needed reforms to the program. Congress can be proud of this responsible debt-reduction measure, but they can’t stop ... Read more

NAMIC Comments on Senate Passage of NFIP Extension

May 24, 2012 “Today’s passage of a short-term NFIP extension by the Senate represents not an end, but another step towards one. While they failed to pass long term reauthorization and reform, this may indeed be the last short term extension of this program... Read more

NAMIC Comments on House Passage of 30-Day NFIP Extension

May 17, 2012 "We're glad the House recognizes the harm an NFIP lapse would cause and that they have acted to avoid one on May 31. But we echo their call for a Senate vote on reauthorization and reform. The sides are too close, and this bill is too important, for thi... Read more

Alabama: 'Storm Scammers' Bill Passes, NAMIC Comments

May 17, 2012 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies "It's been a long process in Alabama, but we are delighted with the outcome, particularly the May 16 passage of HB 405 that makes it more difficult for 's... Read more

Alabama Legislature Passes Insurance Fraud Bill; NAMIC Comments

May 11, 2012 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies "We're pleased that the Alabama Legislature has addressed insurance fraud with the passage of HB 323. Until now, Alabama was one of only a handful of stat... Read more

Iowa Legislature Sends 'Storm Scammer' Bill to Governor; NAMIC Comments

May 10, 2012 Statement of Mark Johnston State Affairs Manager National Association of Mutual Insurance Companies "Iowa lawmakers placed a large 'Storm Scammers Not Welcome Sign' on the state's border Thursday when they sent to the governor Senate File 466 to increas... Read more

FDIC Adopts NAMIC-Backed Position on Mutual Insurance Holding Companies

May 1, 2012 WASHINGTON (May 1, 2012) The Federal Deposit Insurance Corporation (FDIC) recognized state regulation of mutual insurance holding companies during an insolvency in a final rule issued this week, providing insurers with greater certainty and clarity, the... Read more

NAMIC Applauds Kentucky Legislature on Passage of 'Storm Scammer' Bill

April 5, 2012 Kentucky state Rep. Steve Riggs, D-Louisville, successfully ushered his measure HB 421 through the Kentucky Legislature. The "storm scammer" legislation is a collaboration within the business industry and includes sections to protect Kentucky's legitima... Read more

NAMIC Responds to FSOC Adoption of Final Rule for 'SIFI' Designation of Non-Bank Institutions

April 3, 2012 "To the extent that the final rule is similar to the proposed rule from October of last year, the Financial Stability Oversight Council seems properly focused on the type of institutions which experienced the most difficulty during the financial crisis.... Read more

NAMIC Names Tetrault State and Policy Affairs Counsel

March 13, 2012 The National Association of Mutual Insurance Companies (NAMIC) has named Paul Tetrault to the position of state and policy affairs counsel. Tetrault has served as Northeast state affairs manager for NAMIC for more than six years. In his new position, hi... Read more

Passage of Florida PIP Reform

March 12, 2012 Statement of Liz Reynolds State Affairs Manager National Association of Mutual Insurance Companies "We commend the efforts of Governor Rick Scott, CFO Jeff Atwater, Insurance Commissioner Kevin McCarty, and Insurance Consumer Advocate Robin Westcott to ... Read more

New York: Initiative by the Cuomo Administration to Curb No-Fault Medical Provider Fraud

March 8, 2012 Statement of Paul Tetrault State Affairs Manager for the Northeast National Association of Mutual Insurance Companies "The initiative announced March 8, 2012 to target medical providers engaged in fraudulent activities is an encouraging sign t... Read more

NAMIC CEO Calls for NFIP Vote at Senate News Conference

February 14, 2012 Thank you, Senator Tester and Senator Vitter for your leadership on this important issue. My name is Chuck Chamness and I am the President and CEO of the The National Association of Mutual Insurance Companies, the nation's largest property/casualty insu... Read more

NAMIC Responds to State of the Union Address

January 25, 2012 “The President’s State of the Union Speech, and the response by Gov. Mitch Daniels, make clear that both Republicans and Democrats are working to help our economy’s recovery, albeit with very different ideas. At NAMIC we believe that economic growth is ... Read more

NAMIC Comments on Volcker Rule Hearing

January 18, 2012 Statement of Charles M. Chamness President/CEO National Association of Mutual Insurance Companies “We are encouraged that the House Financial Services Subcommittees decided to hold a joint hearing this morning on the implementation of Section 619 of the... Read more

NAMIC: Proposed HUD Rule Would Jeopardize Risk-Based Insurance Underwriting

January 18, 2012 WASHINGTON (January 18, 2012) Home insurers would be forced to jettison risk-based underwriting factors under a proposed rule by the Department of Housing and Urban Development, the National Association of Mutual insurance Companies (NAMIC) said today. ... Read more

NAMIC Comments on Recess Appointment of CFPB Head

January 4, 2012 “Today’s announcement that the president will name Richard Cordray to head the Consumer Financial Protection Bureau is disappointing. Members of the Senate have raised legitimate concerns about the structure and authority of the CFPB, and its potential ... Read more

NAMIC Offers Views on Regulatory Modernization for FIO Study

December 16, 2011 WASHINGTON (December 16, 2011) – Efforts to reform and modernize the insurance market should focus on improving the state-based regulatory system without jeopardizing its effectiveness, the National Association of Mutual Insurance Companies (NAMIC) said... Read more

FDIC Proposes Rule on Mutual Insurance Holding Companies Supporting NAMIC Stance

December 13, 2011 WASHINGTON (December 13, 2011) A proposed rule issued by the Federal Deposit Insurance Corporation (FDIC) recognizes state regulation of mutual insurance holding companies while providing insurers with greater certainty and clarity, the National Associa... Read more

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

November 18, 2011 “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 legis... Read more

NAMIC: Dodd-Frank Fixes Reduce Costs and Uncertainty

November 16, 2011 WASHINGTON - Legislation being discussed today by a House Financial Services Subcommittee will help reduce the costs and prevent regulatory overlap from the Dodd-Frank Wall Street Reform and Consumer Protection Act, according to the National Association... Read more

NAMIC Comments on FACI Appointments

November 2, 2011 “NAMIC congratulates the members of the Federal Advisory Committee on Insurance on their selection. We know that their expertise will prove quite valuable to Director McGraith and the FIO. With so many complex issues facing our industry, it is vitally i... Read more

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

October 25, 2011 “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 re... Read more

Auto No-Fault Moves in Michigan; NAMIC Comments

October 14, 2011 Statement of Erin Collins State Affairs Manager, Mid-Atlantic National Association of Mutual Insurance Companies RE: Auto No-Fault Moves in Michigan; NAMIC Comments “NAMIC is pleased that the Michigan House Insurance Committee voted yesterday to move fo... Read more

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

October 12, 2011 “NAMIC appreciates the work the FSOC has done to provide more transparency and clarity to the SIFI-designation process for non-bank financial institutions. “While a clear statement that the FSOC did not intend to look at property/casualty insurers would... Read more

NAMIC Submits Testimony Supporting Bill to Reform Michigan’s No-Fault Auto Insurance System

October 6, 2011 The National Association of Mutual Insurance Companies (NAMIC) submitted written testimony today to the Michigan House Insurance Committee supporting HB 4936 that would reform the state’s no-fault auto insurance system. In her comments, Erin Collins, NA... Read more

Sec. Geithner's Testimony on the FSOC Annual Report

October 6, 2011 "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... Read more

NAMIC Hails Roy Woodall's Senate Confirmation

September 27, 2011 WASHINGTON (September 27, 2011) The National Association of Mutual Insurance Companies (NAMIC) applauds the Senate for last night's swift confirmation of Roy Woodall as the Financial Services Oversight Council Voting Member with Insurance Expertise. "Gi... Read more

NAMIC Presents Service Awards at 116th Annual Convention

September 21, 2011 INDIANAPOLIS (September 21, 2011) – The National Association of Mutual Insurance Companies (NAMIC) honored four individuals with NAMIC Service Awards today during the Annual Meeting of Members at the association’s 116th annual convention. John Beavers, ... Read more

NAMIC Honors Robert Hartwig With Chairman’s Award

September 21, 2011 INDIANAPOLIS (September 21, 2011) – The National Association of Mutual Insurance Companies (NAMIC) named Robert P. Hartwig, Ph.D., president/CEO of the Insurance Information Institute, New York, N.Y., as the association’s 2011 Chairman’s Award winner. N... Read more

NAMIC Hands Gavel to New Chairman

September 21, 2011 INDIANAPOLIS (September 21, 2011) - The National Association of Mutual Insurance Companies swore in its newest chairman of the board of directors today. James J. Kennedy began his year as chairman at the end of the Annual Business Meeting of Members dur... Read more

NAMIC’s Property Casualty Conference Names Its 2011-2012 Board of Directors

September 21, 2011 INDIANAPOLIS (September 20, 2011) - The National Association of Mutual Insurance Companies named its Property Casualty Conference board of directors for 2011-2012 today during the Property Casualty Conference Annual Business Meeting. Directors serv... Read more

NAMIC Names Fincannon as Professional Farm Mutual Manager of the Year

September 21, 2011 INDIANAPOLIS (September 19, 2011) – The National Association of Mutual Insurance Companies (NAMIC) recognized Douglas Fincannon, president, Alamance Farmers’ Mutual Insurance company, Graham, N.C., as the association’s Professional Farm Mutual Manager o... Read more

NAMIC's Farm Mutual Conference Names Its 2010-2011 Board of Directors

September 21, 2011 INDIANAPOLIS (September 19, 2011) - The National Association of Mutual Insurance Companies (NAMIC) named its Farm Mutual Conference board of directors for 2011-2012 today during the Farm Mutual Conference Annual Business Meeting. Directors serve three-y... Read more

NAMIC Names U.S. Rep. Judy Biggert as Legislator of the Year

September 21, 2011 INDIANAPOLIS (Sept. 19, 2011) – The National Association of Mutual Insurance Companies (NAMIC) presented the Federal Legislator of the Year Award today to U.S. Rep. Judy Biggert, R-Ill., at its annual convention in Indianapolis. “Representative Biggert ... Read more

NAMIC Inducts Professional Farm Mutual Manager Class of 2011

September 21, 2011 INDIANAPOLIS (September 19, 2011) – The National Association of Mutual Insurance Companies recognized its newest class of Professional Farm Mutual Managers today during its 116th Annual Convention. The new designees were recognized at the Farm Mutual Co... Read more

NAMIC Kicks Off 116th Annual Convention

September 21, 2011 INDIANAPOLIS (September 18, 2011) – Nearly 1,800 people are expected to descend on Indianapolis this weekend for the 116th annual convention of the National Association of Mutual Insurance Companies. The three-day convention officially kicks off today. ... Read more

NAMIC Urges Senate to Eliminate Frivolous Lawsuits Against Insurers with Key Provision in Patent Reform Bill

September 8, 2011 WASHINGTON (September 8, 2011) The National Association of Mutual Insurance Companies (NAMIC) urged the Senate to pass the patent reform bill with Section 18 intact, a key provision that helps prevent frivolous lawsuits that drive up costs for consumers... Read more

NAMIC: No Time to Waste for Flood Insurance Reform

September 8, 2011 WASHINGTON (September 8, 2011) The National Association of Mutual Insurance Companies (NAMIC) urged the Senate to move quickly to vote on legislation to reform and extend the National Flood Insurance Program(NFIP) approved by the Senate Banking committe... Read more

The Senate Should Act Swiftly to Confirm Woodall

September 8, 2011 “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 un... Read more

Statement by Liz Reynolds on the Alabama Homeowners Insurance Affordability Commission

August 30, 2011 Statement by Liz Reynolds National Association of Mutual Insurance Companies 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 ... Read more

NAMIC Calls for Swift Passage of NFIP Extension, Reforms

August 29, 2011 WASHINGTON (August 29, 2011) With recovery efforts underway along the East Coast in the wake of Hurricane Irene, the National Association of Mutual Insurance Companies (NAMIC) called on Congress to ensure that the National Flood Insurance Program (NFIP)... Read more

Strong Building Codes are Among the Best Protections against Natural Disasters

August 25, 2011 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 Je... Read more

Massachusetts Association of Insurance Agents to Introduce CBIS Ballot Initiative

August 5, 2011 "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. Prohibi... Read more

NAMIC: Oversight Needed to Protect Property/Casualty Insurance from Federal, International Intrusion

July 28, 2011 WASHINGTON (July 28, 2011) A strong insurance industry would be substantially weakened through excessive regulation or federal intrusion, the National Association of Mutual Insurance Companies (NAMIC) said in testimony before a House subcommittee today.... Read more

NAMIC Calls For Swift Confirmation of Woodall

July 26, 2011 Statement by Charles M. Chamness, President and CEO National Association of Mutual Insurance Companies on the Senate Banking Committee hearing on S. Roy Woodall to serve as a member of the Financial Stability Oversight Council WASHINGTON (July 26, 2011)... Read more

NAMIC: All Eyes on Senate as House Passes Flood Insurance Reform

July 12, 2011 WASHINGTON (July 12, 2011) The National Association of Mutual Insurance Companies (NAMIC) hailed the U.S. House of Representatives today for passing legislation to reform the National Flood Insurance Program, and urged the Senate to take up similar legi... Read more

NAMIC Opposes Amendment to Kill Flood Insurance Program

July 11, 2011 WASHINGTON (July 11, 2011) Efforts to eliminate the National Flood Insurance Program would put millions of homeowners at risk and cost the American Taxpayers billions of dollars, according to the National Association of Mutual Insurance Companies (NAMIC... Read more

NAMIC Responds to Nomination of Woodall to FSOC

June 24, 2011 WASHINGTON (June 24, 2011) The National Association of Mutual Insurance Companies released the following statement from Jimi Grande, senior vice president of federal and political affairs, on the nomination of S. Roy Woodall to the Financial Stability O... Read more

NAMIC: Senate Must Not Miss Another Opportunity for NFIP Reform

June 23, 2011 WASHINGTON (June 23, 2011) The problems facing the National Flood insurance Program (NFIP) have not changed and will not improve unless Congress acts to reform the program, the National Association of Mutual Insurance Companies (NAMIC) said today. “The ... Read more

NAMIC Hails Introduction of Small Mutual Inflation Update

June 15, 2011 WASHINGTON (June 15, 2011) Legislation introduced today in the U.S. House of Representatives to adjust the tax code will increase access to insurance for rural communities and foster economic growth, according to the National Association for Mutual Insu... Read more

GAO Report Shows the Need for NFIP Reform

June 14, 2011 WASHINGTON (June 14, 2011) A report by the Government Accountability Office outlining the significant organizational flaws in the National Flood Insurance Program (NFIP) should spur Congress to act on reform legislation, the National Association of Mutu... Read more

Connecticut Flex-Rating Extension Approved by General Assembly

June 10, 2011 “The Connecticut General Assembly’s passage of the flex-rating extension is great news for consumers and insurers alike, as flex-rating encourages competition among property/casualty insurers which in-turn benefits consumers with more choices in the mar... Read more

Insurance Premiums Could Rise as Result of Litigation Funding, Says NAMIC

June 9, 2011 According to a new public policy paper released today by the National Association of Mutual Insurance Companies (NAMIC), insurance premiums could rise as a result of litigation funding, a practice that involves providing money to a party to pursue a pot... Read more

NAMIC Calls for Swift Action on NFIP Reform

June 9, 2011 WASHINGTON (June 9, 2011) Amidst recent flooding in the Midwest and the opening days of the 2011 Hurricane season, the National Association of Mutual Insurance Companies (NAMIC) called on congressional leaders to act swiftly to reform the National Flood... Read more

Tennessee Legislature Passes Tort Reform Bill

June 2, 2011 “Tennessee is joining the list of states that are addressing tort reform this year. HB 2008 will improve Tennessee’s business climate by addressing venue and product liability as well as requiring reforms on non-economic and punitive damages. “Specifica... Read more

NAMIC Applauds Enactment of Tort Reform in Texas

June 2, 2011 “Governor Rick Perry signed important ‘loser pays’ tort reform legislation on May 30, which aims to clamp down on meritless lawsuits by allowing judges to rule on the merits of civil cases early in the process. “Texas is already a competitive market, bu... Read more

NAMIC Hails Introduction of H.R. 2069, the Safe Building Codes Incentive Act of 2011

June 1, 2011 WASHINGTON (June 1, 2011) As hurricane season begins today, legislation to incentivize the adoption and enforcement of strong building codes by the states will, if enacted, help protect Americans from future storms, according to the National Association... Read more

Illinois Insurance Consumers to Gain Protections From ‘Storm Scammers’ Thanks To New Legislation

June 1, 2011 Illinois Insurance Consumers to Gain Protections From ‘Storm Scammers’ Thanks To New Legislation Illinois insurance consumers will soon benefit from increased protection against unscrupulous individuals posing as contractors who show up in the wake of t... Read more

NAMIC Responds to Introduction of COASTAL Act

May 26, 2011 WASHINGTON (May 26, 2011) Legislation introduced today by Sen. Roger Wicker (R-Miss.) to address the problems of wind versus water disputes in the aftermath of a severe storm contains both positives and negatives, according to the National Association o... Read more

NAMIC Comments on Oklahoma Governor Signing Workers' Comp Reform Bill

May 26, 2011 “NAMIC commends Governor Mary Fallin for signing SB 878, which reforms the state’s workers’ compensation system. This year the Legislature and the governor reconfirmed their commitment to improving Oklahoma’s business climate. SB 878 tackles abuses in w... Read more

NAMIC Urges Oklahoma Governor to Sign Uninsured Motorists Bill

May 23, 2011 “NAMIC urges Governor Mary Fallin to sign SB 272 that prohibits persons who violate the law by driving without the required auto insurance from collecting non-economic damages when they sue after a motor vehicle accident. “The legislation is a balanced ... Read more

Passage of HR 1309, “The Flood Insurance Reform Act of 2011” by the House Financial Services Committee

May 16, 2011 “We applaud the committee for voting today to strengthen the National Flood Insurance Program and ease the burden on the taxpayers. As we watch the Mississippi waters rise, the need for a federal program to provide flood insurance is clear. Through the ... Read more

Kansas HB 2139 (Workers Compensation Rating Modernization)

May 13, 2011 “Today Kansas lawmakers continued their progress in modernizing the state’s insurance market by passing House Bill 2139. This bill reforms the state’s workers compensation market by repealing outdated rating requirements that had distorted prices and re... Read more

Senate Banking Committee Hearing “Oversight of Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial Stability

May 12, 2011 "NAMIC shares the concern expressed by members of the Banking Committee that greater substance and transparency are needed in creating the rules for determining which companies should be designated systemically important. But it is equally important tha... Read more

Oklahoma SB 928 (Consumer Protection from Storm Scammers)

May 9, 2011 “Oklahoma lawmakers placed a large ‘Storm Scammers Not Welcome Sign’ on the state’s border Thursday when they sent to the governor Senate Bill 928 to increase protections for consumers from scam artists who prey on vulnerable citizens after natural disa... Read more

Florida Property Insurance Package on Its Way to Governor

May 6, 2011 "We are quite pleased that the Florida Senate approved the 2011 omnibus property/sinkhole insurance package late yesterday, sending it to Governor Rick Scott who is expected to sign the bill into law. Bill sponsors Senator Garrett Richter and Representa... Read more

Kansas HB 2119 (Accident Response Fees)

May 3, 2011 “The Kansas Legislature in passing HB 2119 sent a strong statement of disapproval of accident response fees, which are charges imposed by local levels of government for those times when police and fire departments show up at the scene of even minor acci... Read more

Kansas SB 136 Reducing Uninsured Drivers

May 2, 2011 “The Kansas Legislature sent to Governor Sam Brownback SB 136 to reduce the number of uninsured drivers in the state. The bill prohibits persons who knowingly violate the law requiring auto insurance from collecting non-economic damages when they sue af... Read more

Commercial De-Reg Passes Florida Legislature; NAMIC Comments

May 2, 2011 “Florida HB 99 , commercial deregulation, passed the Senate this morning and is now on its way to the governor. The bill passed the House with a unanimous vote and with only one dissenting vote in the Senate. The bill expands to commercial auto and comm... Read more

North Carolina Senate Holds Hearing on Rate Bureau’s Future; NAMIC to Testify

May 2, 2011 North Carolina’s Senate Insurance Committee is holding a hearing this morning on SB 490, which would eliminate the Rate Bureau from the auto insurance system and establish a system that more fairly and accurately matches rate to risk. The National Assoc... Read more

HB 2134 (Kansas Workers Compensation)

April 19, 2011 “With his signature reforming Kansas’ workers’ compensation system, Governor Brownback has taken the final step toward restoring balance to the system that had in the past created uncertainty and unfair results. Now Kansas workers will benefit from the ... Read more

NAMIC: 1099 Repeal a Victory for Business

April 15, 2011 WASHINGTON (April 15, 2011) The National Association of Mutual Insurance Companies (NAMIC) released the following statement from senior vice president of federal and political affairs Jimi Grande in response to President Obama’s signing of HR 4, repeali... Read more

NAMIC Comments on Minnesota Senate Passing No-Fault Legislation

April 13, 2011 The Minnesota Senate Commerce and Consumer Protection Committee voted yesterday to recommend that Senate File 589, sponsored by Sen. Linda Scheid, and SF 389, sponsored by Sen. Paul Gazelka, pass. The bills incrementally reform the state’s no-fault auto... Read more

NAMIC Applauds Tennessee's Flex-Band Legislation

April 8, 2011 SB 777, legislation that will set forth a 15 percent flex band on personal lines rate filing, is now on its way to Gov. Bill Haslam for his signature. The measure will allow insurers to file rates within an aggregate band and implement the new rate on t... Read more

NAMIC: Flood Insurance Reforms Take ‘First Step’ Towards Becoming Law

April 6, 2011 WASHINGTON (April 6, 2011) Legislation to move the National Flood Insurance Program closer to financial stability took one step closer to becoming law with passage by a House Financial Services Subcommittee, the National Association of Mutual Insurance ... Read more

NAMIC Commends Wisconsin Legislature for Repealing Most of 2009 Budget Bill Auto Insurance Provisions

April 5, 2011 The Wisconsin Legislature today passed Assembly Bill 4, which repeals most of the auto insurance provisions in the 2009 budget bill such as higher minimum liability coverage requirements and stacking. The following statement may be attributed Mark Johns... Read more

NAMIC Calls on President Obama to Sign 1099 Repeal

April 5, 2011 WASHINGTON (April 5, 2011) President Obama should waste no time in signing into law legislation approved by the Senate today to repeal a burdensome tax reporting provision included in last year’s healthcare reform law, said the National Association of M... Read more

Rhode Island Budget Provision Mandating Purchase of Motor Vehicle Reports Would Increase Costs, NAMIC Says

March 24, 2011 In testimony to the House Finance Committee today, the National Association of Mutual Insurance Companies (NAMIC) voiced concern with a proposed budget provision that would require insurers to purchase motor vehicle reports on drivers from the state eve... Read more

NAMIC Commends Colorado House Committee for Defeating Underwriting Restriction Bill

March 23, 2011 The Colorado House Economic and Business Development Committee yesterday voted 9-4 to defeat SB 15, a bill that would have restricted homeowner’s insurance carriers’ underwriting freedoms and their ability to provide consumers with rates that accurately... Read more

NAMIC Urges Passage of Medicare Secondary Payer Reform

March 22, 2011 WASHINGTON (March 22, 2011) Congress can help consumers and Medicare beneficiaries by passing legislation reforming the Medicare Secondary Payer (MSP) system, according to the National Association of Mutual Insurance Companies (NAMIC). Introduced by Rep... Read more

NAMIC Responds to Announcement of FIO Director

March 17, 2011 WASHINGTON (March 17, 2011) The National Association of Mutual Insurance Companies (NAMIC) commented today on the announcement that former Director of the Illinois Department of Insurance Michael McRaith has been named to head the newly created Federal ... Read more

NAMIC Chair Offers Support, Solutions at Hearing on NFIP Reform

March 11, 2011 WASHINGTON (MARCH 11, 2011) The National Flood Insurance Program (NFIP) will continue to be a burden on the taxpayers, and likely grow worse, if congress fails to enact key reforms, Sandra Parrillo, chairman of the National Association of Mutual Insuran... Read more

NAMIC Calls for Senate Action in Wake of House Vote to Repeal 1099 Provision

March 3, 2011 WASHINGTON (March 3, 2011) – With the U.S. House of Representatives’ vote today to repeal the 1099 tax reporting provision from last year’s healthcare law, the National Association of Mutual Insurance Companies (NAMIC) says “there is nothing to debate, ... Read more

NAMIC Applauds Committee Vote to Repeal 1099 Requirement

February 17, 2011 WASHINGTON (February 17, 2011) The National Association of Mutual Insurance Companies (NAMIC) welcomed a vote by the House Ways and Means Committee today to repeal an onerous tax reporting provision included in last year’s healthcare reform law. “The Co... Read more

NAMIC Hails Senate Vote to Repeal 1099 Requirement

February 4, 2011 WASHINGTON (Feb. 2, 2011) The National Association of Mutual Insurance Companies (NAMIC) applauded today’s Senate vote to repeal a widely opposed tax filing requirement enacted as part of last year’s healthcare reform law. “Today’s vote is the first ste... Read more

NAMIC Responds to State of the Union Address

January 26, 2011 WASHINGTON (Jan. 26, 2011) The National Association of Mutual Insurance Companies (NAMIC) called on lawmakers and the administration to repeal onerous regulations and enact tort reforms for medical liability, as was mentioned in President Obama’s State ... Read more

NAMIC: President Obama’s Rules Review Order an Important First Step

January 19, 2011 WASHINGTON (Jan. 18, 2011) President Obama’s executive order that federal agencies undertake a review of existing regulations could represent an important step towards improving the nation’s regulatory structure, the National Association of Mutual Insur... Read more

NAMIC Submits Testimony on New York City Fire Department Proposal to Bill Motorist for Emergency Runs

January 14, 2011 The National Association of Mutual Insurance Companies (NAMIC) submitted written testimony today to the Fire Department of New York City on its proposal, “Schedule of Charges for Fire Department Motorists Services,” to bill motorists and their insurers ... Read more

Rhode Island Insurance Leaders Take Global Stage in 2011

January 11, 2011 PROVIDENCE, RI (Jan. 11, 2011) Executives from two well-known Rhode Island companies are helping to boost the state’s prominence in the business world as leaders of the nation’s largest trade associations for home, auto and business insurance companies.... Read more

NAMIC Offers Roadmap for Flood Insurance Reform

December 29, 2010 WASHINGTON (Dec. 29, 2010) The National Association of Mutual Insurance Companies (NAMIC) today offered a set of reform proposals for the National Flood Insurance Program (NFIP) designed to improve the program’s financial standing while ensuring protect... Read more

NAMIC: Piecemeal Approach to NFIP Reform Puts Homeowners at Risk, Burden on Taxpayers

December 2, 2010 WASHINGTON (Dec. 2, 2010) Delaying the implementation of vital reforms to the National Flood Insurance Program could do more harm than good for consumers, the National Association of Mutual Insurance Companies said today. “Rather than pursuing a pieceme... Read more

NAMIC Supports Repeal of New 1099 Filing Requirement

November 29, 2010 WASHINGTON (Nov. 29, 2010) The National Association of Mutual Insurance Companies called on lawmakers to approve an amendment that would repeal the increased 1099 filing requirements in the healthcare reform legislation earlier this year. Two separate a... Read more

NAMIC Calls for Repeal of Onerous 1099 Provision

November 16, 2010 WASHINGTON (Nov. 16, 2010) - The National Association of Mutual Insurance Companies (NAMIC) today called on lawmakers to make repealing the 1099 requirement in the healthcare reform law enacted earlier this year a top priority. “Unless Congress acts, th... Read more

NAMIC: NFIP Extension Will Provide Certainty for Americans

October 1, 2010 WASHINGTON (October 1) - The National Association of Mutual insurance Companies welcomed the signing into law of a one-year extension of the National Flood Insurance Program by President Obama late yesterday. “Today’s signing will come as a relief for m... Read more

NAMIC Questions Need for NAIC Data Call Initiative

September 30, 2010 The following statement may be attributed to Neil Alldredge, senior vice president for State & Policy Affairs for the National Association of Mutual Insurance Companies, on the hearing held today at the National Association of Insurance Commissioner... Read more

New Study Shows Unintended Consequences of First-Party Bad Faith Liability

October 9, 2008 INDIANAPOLIS (Oct. 9, 2008) – Bad faith remedies designed to protect insurance consumers from unfair claim settlement practices can potentially harm consumers, warns a new report published by the National Association of Mutual Insurance Companies (NAMIC... Read more

Patrick Faga Named NAMIC’s 2008 Professional Farm Mutual Manager of the Year

October 3, 2008 INDIANAPOLIS (Oct. 3, 2008) – The National Association of Mutual Insurance Companies (NAMIC) awarded Patrick Faga, president/CEO, Central Iowa Mutual Insurance Association, Story, Iowa, the Professional Farm Mutual Manager of the Year Award during NAMIC... Read more

Bruce D. Thomas Begins Term as 2008 - 2009 NAMIC Chairman

October 1, 2008 PHILADELPHIA (Oct. 1, 2008) – Bruce D. Thomas was elected 2008-2009 chairman of the board of the National Association of Mutual Insurance Companies (NAMIC) here today, during NAMIC’s Annual Convention. Thomas is the president/CEO of Heartland Mutual Ins... Read more

California Court Decision Reaffirms Distinctive Right of Mutual Insurance Companies, NAMIC Says

October 1, 2008 INDIANAPOLIS (Oct. 1, 2008) – A recent opinion from the California Court of Appeals is a significant victory for mutual insurance company boards in their efforts to successfully and flexibly oversee the management of their enterprises for the benefit of... Read more

NAMIC Kicks off 113th Annual Convention

September 29, 2008 PHILADELPHIA (Sept. 29, 2008) – Following the traditional “Ceremony of Flags” and the singing of the U.S. and Canadian national anthems, the 113th Annual Convention of the National Association of Mutual Insurance companies (NAMIC) began with Chairman Jo... Read more

Herman Bontrager Receives NAMIC’s Chairman’s Award

September 29, 2008 PHILADELPHIA (Sept. 29, 2008) – Herman Bontrager, president/CEO of Goodville Mutual Casualty Insurance in New Holland, Pa., was named the 2008 recipient of the Chairman's Award by the National Association of Mutual Insurance Companies(NAMIC). The NAMIC ... Read more

Former House Speaker, NY Insurance Chief Highlight NAMIC Convention

September 28, 2008 INDIANAPOLIS (Sept 28, 2008) – The New York insurance regulator who played a critical role in negotiations to salvage AIG will deliver one of three keynotes speeches at the Annual Convention of the National Association of Mutual Insurance Companies (NAM... Read more

MEDIA ADVISORY: Eric Dinallo to Speak at NAMIC Convention

September 26, 2008 Who : New York Insurance Superintendent Eric Dinallo What : Speech to 1,700+ attendees gathered for Annual Convention of National Association of Mutual Insurance Companies (NAMIC) When : Wed., Oct.1, 2008, 9:45 – 10:30 a.m. (time approx). Where : Downto... Read more

NAMIC Offers Guidance, Resources as Latest Storm Approaches

September 11, 2008 INDIANAPOLIS (Sept. 11, 2008) – With Hurricane Ike a likely threat to coastal areas along the Gulf Coast this weekend, the National Association of Mutual Insurance Companies (NAMIC) urges homeowners to be prepared. Forecasters today said the storm is he... Read more

NAMIC Names Maine Senator as Top Federal Lawmaker for 2008

September 11, 2008 WASHINGTON (Sept. 11, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today named Sen. Susan M. Collins, R-Maine, as its Federal Legislator of the Year. “Senator Collins has a great understanding and appreciation of the property/c... Read more

NAMIC CEO: Most Companies Oppose OFC, Congress Should Develop ‘National Targeted Uniformity’ as Alternative

August 19, 2008 WASHINGTON (Aug. 19, 2007) –In a letter sent to the members of the Senate Banking Committee, President/CEO Chuck Chamness of the National Association of Mutual Insurance Companies (NAMIC) says Congress can play an important but limited role in reforming... Read more

NAMIC Urges New York Officials Not to Impair Appropriate Agent Compensation Methods

August 11, 2008 INDIANAPOLIS (Aug. 11, 2008) – Policymakers considering changes to insurance producer compensation rules and laws should be cognizant of the distinction between agents and brokers, as well as the appropriate role of contingent commissions in the insuran... Read more

NAMIC Applauds House Introduction of Small-insurer Legislation to Help Consumers

August 1, 2008 WASHINGTON (Aug.1, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today commended Reps. Earl Pomeroy, D-N.D., and Paul Ryan, R-Wis., for their long-standing support of small insurance companies by introducing legislation that wou... Read more

Two State Senators Win NAMIC Legislator of the Year Award

August 1, 2008 INDIANAPOLIS (August 1, 2008) – State Sen. Ruth Teichman of Kansas and State Sen. Jim Seward of New York have been named State Legislators of the Year by the National Association of Mutual Insurance Companies (NAMIC). “Senators Teichman and Seward are b... Read more

NAMIC: National Targeted Uniformity Without OFC is Best for Insurers, Consumers

July 29, 2008 WASHINGTON (July 29, 2008) – Congress can play an important role in helping to streamline and improve the current insurance regulatory system without launching a complete overhaul. That’s the message the National Association of Mutual Insurance Companie... Read more

NAMIC Applauds Legislators’ Response to Controversial Market Conduct Data Proposal

July 11, 2008 INDIANAPOLIS (July 11, 2008) – The National Association of Mutual Insurance Companies (NAMIC) said action taken today by state insurance legislators is in the best interests of insurance consumers and companies. At issue is a proposal by the National As... Read more

NAMIC Voices Concerns About Legislation to Expand Risk Retention Groups

July 9, 2008 WASHINGTON (July 9, 2008) – Legislation allowing risk retention groups and risk purchasing groups to provide property insurance could cause problems for insurance consumers and companies, said the National Association of Mutual Insurance Companies (NAMI... Read more

Rhode Island Supreme Court Lead Paint Decision Prevents Dangerous Liability Expansion, NAMIC Says

July 1, 2008 INDIANAPOLIS (July 1, 2008) – By reversing a lower court’s decision that found lead pigment manufacturers liable for childhood lead poisoning under public nuisance law, the Rhode Island Supreme Court prevented an unwarranted, dangerous, and unpredictabl... Read more

NAMIC: Florida Insurance Regulation Proposal Seeks to ‘Change the Rules in the Middle of the Game’

June 26, 2008 INDIANAPOLIS (June 26, 2008) – A seemingly innocuous rule change proposed for Florida’s insurance system could further dissuade insurance companies from doing business in the state. That’s the message the National Association of Mutual Insurance Compani... Read more

New York Flex-rating Insurance Legislation Demonstrates Significant Momentum of State Rate Modernization, NAMIC Says

June 25, 2008 (INDIANAPOLIS) June 25, 2008 – Passage of auto flex-rating legislation in New York shows there is significant momentum in the states for enacting laws to modernize the regulation of property/casualty insurance rates, according to the National Associatio... Read more

NAMIC: Legislation to Promote Stronger Buildings Will Save Lives, Money

June 24, 2008 WASHINGTON (June 24, 2008) – Legislation adopted today by the House Financial Services Committee is key to preventing loss of lives and property during natural catastrophes, according to the National Association of Mutual Insurance Companies (NAMIC). Th... Read more

NAMIC: Louisiana Legislature Winds Up 2008 Session After Adopting ‘Named Storm’ Deductible Proposal – a ‘Win-Win’ for Insurance Consumers, Companies

June 24, 2008 INDIANAPOLIS (June 24, 2008) – The Louisiana Legislature has adjourned after passing several proposals affecting the property/casualty insurance industry, according to the National Association of Mutual Insurance Companies. Last night’s adjournment foll... Read more

NAMIC: New York Flex-rating Legislation is ‘Significant Progress’

June 20, 2008 (INDIANAPOLIS) June 20, 2008 - New York state lawmakers are expected to adopt legislation that could enhance competition in the state’s auto insurance market and aid homeowners insurance consumers living along the coastline, according to the National As... Read more

Eliminating Competitive Auto Body Parts Would Harm Consumers, NAMIC Tells Patent Office

June 16, 2008 (WASHINGTON) – June 16, 2008 - The latest attempt to eliminate competitive auto repair parts from the marketplace could substantially drive up prices for consumers, according to the National Association of Mutual Insurance Companies (NAMIC). In testimon... Read more

NAMIC Submits Comments to Congressional Subcommittee Examining Creation of Federal Office of Insurance Information

June 10, 2008 WASHINGTON (June 10, 2008) – A carefully developed Office of Insurance Information could be a step toward modernizing the state-based insurance regulatory system, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC remains... Read more

Climate Change Proposals Put Insurers in ‘Impossible Position,’ NAMIC Tells Regulators

June 1, 2008 SAN FRANCISCO (June 1, 2008) – Proposals included in a controversial white paper on climate change and insurers raise serious concerns, according to the National Association of Mutual Insurance Companies (NAMIC). The white paper was adopted by a task fo... Read more

NAMIC Tells NAIC to Reject Data Collection Proposal

June 1, 2008 SAN FRANCISCO (June 1, 2008) – A proposal for insurers to submit market conduct data as part of their annual statements to the National Association of Insurance Commissioners would violate the laws of most jurisdictions and potentially harm consumers as... Read more

NAMIC Commends Tennessee Lawmakers for Acting in the Best Interests of Consumers, Insurers

May 22, 2008 INDIANAPOLIS (May 22, 2008) – The Tennessee Legislature has adjourned after sending the governor legislation that will benefit insurance consumers and carriers, according to the National Association of Mutual Insurance Companies (NAMIC). Among the propo... Read more

Credit-based Insurance Scoring Benefits Consumers, NAMIC Tells Congress

May 21, 2008 WASHINGTON (May 21, 2008) – Consumers benefit when insurance companies use credit-based insurance scoring in underwriting and rating policies. That’s the message the National Association of Mutual Insurance Companies (NAMIC) will deliver to a congressio... Read more

NAMIC Appreciates Alabama Legislature’s ‘Balanced Approach’ on Legislation Addressing Coastal, Auto Insurance Concerns

May 20, 2008 INDIANAPOLIS (May 20, 2008) – The Alabama Legislature ended its regular 2008 session after passing several proposals that could significantly impact insurance consumers and companies, according to the National Association of Mutual Insurance Companies (... Read more

NAMIC: Senate Approves Much-needed Flood Reform Legislation

May 13, 2008 WASHINGTON (May 13, 2008) – Legislation to extend and reform the National Flood Insurance Program will go a long way toward alleviating some of the concerns of residents in flood-prone areas, according to the National Association of Mutual Insurance Com... Read more

NAMIC–backed Rate Reform Legislation Signed by Kansas Governor

May 13, 2008 INDIANAPOLIS (May 13, 2008) – Legislation advocated by the National Association of Mutual Insurance Companies (NAMIC) was signed into law by Gov. Kathleen Sebelius, taking a significant step toward insurance rate modernization. The legislation, HB 2689,... Read more

NAMIC: Florida Omnibus Insurance Bill Still ‘Fraught with Problems’

May 1, 2008 INDIANAPOLIS (May 1, 2008) – Legislation designed to crack down on the insurance industry is not in the best interests of consumers, according to the National Association of Mutual Insurance Companies (NAMIC). The Florida House passed an amended version... Read more

Proposed Florida Rule to Waive Reinsurers’ Collateral Requirements is ‘an Experiment’ that will Threaten Solvency, NAMIC Tells OIR

April 29, 2008 INDIANAPOLIS (April 29, 2008) – A proposed rule to allow alien reinsurers to pay reduced collateral amounts would likely create hardships for Florida insurance consumers and companies, according to the National Association of Mutual Insurance Companies ... Read more

NAMIC Refutes Claims Made By Consumer Federation of America on Best Regulatory Structure

April 24, 2008 INDIANAPOLIS (April 24, 2008) - The National Association of Mutual Insurance Companies (NAMIC) emphatically disputed claims made today by the Consumer Federation of America that said laws requiring insurers to get advance approval before setting auto ra... Read more

NAMIC Urges Caution on Proposal to Create Federal Insurance Office

April 17, 2008 WASHINGTON (April 17, 2008) – Creating a federal insurance information office could be a slippery slope to dual regulation that would ultimately hurt consumers, warned the National Association of Mutual Insurance Companies (NAMIC). NAMIC urges those who... Read more

NAMIC: Punitive Insurance Bill Passed by Florida Senate Will Hurt Consumers

April 16, 2008 INDIANAPOLIS (April 16, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today said legislation going to the Florida House of Representatives would curtail competition and dissuade new insurers from entering the marketplace. Senate... Read more

Open Competition Without Price Controls is Key to Improved Insurance Regulation, NAMIC Tells Congress

April 16, 2008 WASHINGTON (April 16, 2008) – Simplifying and modernizing the nation’s financial regulatory process within the current regulatory system will lead to better products and costs for insurance consumers, according to the National Association of Mutual Insu... Read more

NAMIC Commends Kentucky Governor, Legislature For Municipal Premium Tax Reform Bill

April 14, 2008 INDIANAPOLIS (April 14, 2008) — At a special signing ceremony being held today, Kentucky Gov. Steve Beshear is signing HB 524, legislation that will streamline the administration of the state’s municipal premium tax, according to the National Associatio... Read more

Insurance Consumers and Companies Will Benefit When Governor Signs Georgia Bills

April 7, 2008 Insurance consumers and companies will benefit from legislation passed during Georgia’s recently adjourned General Assembly. Senators and House members shut down at midnight April 4. SB 276 allows consumers to select their preferred coverage level for u... Read more

Auto Insurance Proposal is ‘Anti-Consumer Choice,’ NAMIC Tells Colorado Senate Committee

April 3, 2008 INDIANAPOLIS (April 3, 2008) – Legislation requiring Colorado auto insurance consumers to purchase mandatory medical benefits coverage is unnecessary and will drive up insurance rates for all consumers, according to the National Association of Mutual In... Read more

Treasury Releases Financial Services Regulatory Blueprint; NAMIC Disappointed with Plan

March 29, 2008 WASHINGTON (March 29, 2008) – The Department of the Treasury is poised to release its blueprint for reform of the regulatory structure of the nation’s financial institutions. Release of the blueprint follows the request for public comment in November 20... Read more

NAIC’s Climate Change Disclosure Proposal is ‘Colossal Disappointment,’ NAMIC Says

March 27, 2008 INDIANAPOLIS (March 27, 2008) – A proposal ostensibly designed to ensure that insurers are adequately addressing issues of climate change serves no purpose other than to appeal to special interest groups, according to the National Association of Mutual ... Read more

NAMIC: Michigan Proposal Will Increase, Not Decrease Insurance Rates

March 20, 2008 INDIANAPOLIS (March 20, 2008) –– The National Association of Mutual Insurance Companies (NAMIC) opposes legislation to ban the use of credit-based insurance scoring in Michigan. The House Insurance Committee is scheduled to debate the proposal today. “H... Read more

NAMIC-opposed Insurance Scoring Ban Bill Dies in Connecticut Committee

March 17, 2008 INDIANAPOLIS – (March 17, 2008) – Legislation to prohibit the use of credit information in auto insurance rating was not approved before a procedural deadline by the Insurance and Real Estate Committee; and that is good news for Connecticut drivers, acc... Read more

NAMIC Members Prepare to Descend on Capitol Hill Armed with 2008 Legislative Agenda

March 17, 2008 WASHINGTON (March 17, 2008) – Hundreds of members of the U.S. Senate and House of Representatives will meet with their constituents in the insurance industry, as the National Association of Mutual Insurance Companies’ (NAMIC) Congressional Contact Progr... Read more

NAMIC Warns of Potentially Disastrous Effects of Federal Anti-credit Scoring Legislation

March 14, 2008 WASHINGTON (March 14, 2008) – Legislation aimed at protecting insurance consumers could instead result in higher rates for many policyholders, warned the National Association of Mutual Insurance Companies (NAMIC). H.R. 5633 would bar insurers’ use of cr... Read more

NAMIC Urges Congress to Consider Reforms to Agent/Broker Licensing

March 13, 2008 WASHINGTON (March 13, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today urged members of Congress to consider legislation that would streamline licensing requirements for insurance agents and brokers. The bill, The National As... Read more

NAMIC Appoints Midwest Region State Affairs Manager

March 11, 2008 INDIANAPOLIS (March 11, 2008) – The National Association of Mutual Insurance Companies (NAMIC) has announced that Mark Johnston has joined the association as state affairs manager for the Midwest region. Johnston is a former health insurance lobbyist fr... Read more

NAMIC Urges Georgia Governor to Sign Pro-consumer Auto Reform Legislation

March 7, 2008 INDIANAPOLIS (March 7, 2008) – Georgia auto consumers should see more competition on auto insurance thanks to legislation approved by the state Legislature. The rate modernization language adopted this week provides rating reform and more choice for pol... Read more

NAMIC–backed Rate Reform Legislation Heads to House Following Senate Approval in Kansas

March 3, 2008 INDIANAPOLIS (March 3, 2008) – Legislation advocated by The National Association of Mutual Insurance Companies (NAMIC) was passed by the Kansas Senate, taking a significant step toward insurance rate modernization. The legislation, SB 560, was unanimous... Read more

NAMIC Testifies Against Connecticut Anti-Insurance Scoring Measure

February 28, 2008 WASHINGTON (Feb. 28, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today warned of potentially higher insurance rates for Connecticut consumers if the state adopts a ban on the use of credit-based insurance scoring to underwrite... Read more

Credit Freezes Without Exemptions Could Lead to Higher Rates and Increased Identity Theft for Consumers, NAMIC Tells FTC

February 26, 2008 WASHINGTON (Feb. 26, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today stressed the importance of quick access to consumers’ credit information as a means of holding down insurance rates. In comments to the Federal Trade Commi... Read more

NAMIC Testifies in Favor of Flex Rating Bill Before Kansas Legislative Committee

February 21, 2008 INDIANAPOLIS (Feb. 21, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today urged members of a Kansas Senate panel to pass rate modernization legislation. Senate Bill 560 would establish a flex rating system that allows property/... Read more

NAMIC Applauds IRS Decision to Withdraw Controversial Captive Tax Deduction Rule

February 21, 2008 WASHINGTON (Feb. 21, 2008) – The Internal Revenue Service’s decision to withdraw the proposed consolidated return regulation is a positive development for the insurance marketplace, according to the National Association of Mutual Insurance Companies (NA... Read more

Beware of Unintended Consequences, NAMIC Tells Massachusetts Panel Considering Homeowners Insurance Proposals

February 13, 2008 INDIANAPOLIS (Feb. 13, 2008) – Certain proposals meant to address homeowners insurance market developments in Massachusetts’ coastal areas may do more harm than good, according to testimony of the National Association of Mutual Insurance Companies (NAMI... Read more

Insurers Applaud Legislators’ Restraint in Considering Proposed Ban on Use of Credit Information

February 5, 2008 Olympia, WA (Feb. 5, 2008) – Three insurance industry advocacy organizations today applauded the members of the House Committee on Insurance, Financial Services & Consumer Protection for showing restraint on a bill to ban insurer use of credit in rating... Read more

State Approaches to Coastal Insurance Issues Highlight Latest IN magazine

January 31, 2008 IN INDIANAPOLIS (Jan. 31, 2008) – A balanced "what if" scenario is the flagship article for a special report on coastal insurance challenges in the current issue of IN magazine. Following interviews with many of the parties on both sides of the debate o... Read more

NAMIC: Wisconsin Senate’s Approval of Credit-based Insuring Scoring Legislation Could Jeopardize Low Rates

January 31, 2008 INDIANAPOLIS (Jan. 31, 2008) – Wisconsin’s ranking as one of the lowest-paying states for auto and homeowners’ insurance would be threatened if legislation passed by the Senate is adopted, according to the National Association of Mutual Insurance Compan... Read more

NAMIC Urges Congress to Move Past Investigations and Toward Solutions, Following Release of Latest Government Report on Katrina Aftermath

January 30, 2008 WASHINGTON (Jan. 30, 2008) – The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to a report from the Government Accountability Office on the insurance industry’s actions following Hurricane Katrina.... Read more

Colorado House Vote Against Credit-based Insurance Scoring Ban Called ‘Win for Insurance Consumers’ by NAMIC Official

January 29, 2008 INDIANAPOLIS (Jan. 29, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today congratulated the Colorado House of Representatives for rejecting the latest effort to ban credit-based insurance scoring for insurance rating and underw... Read more

Colorado’s Credit Scoring Ban Legislation is ‘Like a Bad Rash that Needs to be Permanently Cured,’ NAMIC Official Says

January 18, 2008 INDIANAPOLIS (Jan. 18, 2008) – Colorado lawmakers are faced once again with a proposed ban on credit scoring for insurance underwriting, according to the National Association of Mutual Insurance Companies (NAMIC). HB 1143 would prohibit an insurer from ... Read more

NAMIC Urges NAIC to Re-focus its Examination of the Impact of Climate Change on Insurance

January 10, 2008 INDIANAPOLIS (Jan. 10, 2008) – The National Association of Mutual Insurance Companies (NAMIC) today expressed concerns about a draft white paper exploring the impact of climate change on insurance. In its comments to the National Association of Insuranc... Read more

Insurance Industry’s Financial Strength is Good News for Consumers, NAMIC Reports

January 10, 2008 INDIANAPOLIS (Jan. 10, 2008) - The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to allegations by the Consumer Federation of America regarding record profit levels among insurers. The comments may... Read more

NAMIC Appoints Mid-Atlantic Region State Affairs Manager

December 20, 2007 INDIANAPOLIS (Dec. 20, 2007) – Alan Smith has joined the National Association of Mutual Insurance Companies (NAMIC) as state affairs manager for the mid-Atlantic region. Smith is the former assistant vice president of government affairs for Ohio Casualt... Read more

NAMIC Commends Congress on Passage of TRIA Legislation

December 18, 2007 WASHINGTON (Dec. 18, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today issued the following statement in response to final congressional approval of H.R. 2761, the Terrorism Risk Insurance Revision and Extension Act of 2007. T... Read more

Building Code Legislation Seen by NAMIC as ‘Vital’ to Protecting Property

December 13, 2007 WASHINGTON (Dec. 13, 2007) – The National Association of Mutual Insurance Companies today urged members of Congress to support H.R. 4461, the Community Building Code Administration Grant Act of 2007, which was introduced late last night. The bill, spons... Read more

NAMIC Urges Florida to Withdraw Rule to Waive Alien Reinsurers’ Collateral Requirements

December 10, 2007 INDIANAPOLIS (Dec. 10, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today submitted comments opposing a Florida draft rule to allow a reduction in the amount of collateral required of alien reinsurers. The comments were sent to... Read more

NAMIC Assistant Vice President and IN magazine Receive Indiana Society of Association Executives STAR Awards

December 6, 2007 IN INDIANAPOLIS (Dec. 6, 2007) – The National Association of Mutual Insurance Companies announced that Larry Baile, NAMIC’s assistant vice president of administrative services, was honored Tuesday evening as the 2007 Association Professional of the Year... Read more

NAMIC to Treasury: Reformed State Insurance Regulation is Best for Consumers, Insurers

November 21, 2007 WASHINGTON (Nov. 21, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today submitted comments supporting reforms of insurance regulation at the state level. The remarks came in response to a request for comments by the U.S. Treasu... Read more

NAMIC Warns of Likely Rate Hikes in Washington Following Passage of R-67

November 7, 2007 INDIANAPOLIS (Nov. 7, 2007) – Washington consumers will likely see their rates increase as a response to the expected impact of the voter-approved legislation, Referendum 67, according to the National Association of Mutual Insurance Companies (NAMIC). T... Read more

Powerful NAMIC Advocacy Program Scores Major Impact on Capitol Hill

November 5, 2007 WASHINGTON (Nov. 5, 2007) – One of Capitol Hill’s premier advocacy programs has had a strong influence on congressional decisions affecting the property/casualty insurance industry this year. A majority of congressional members have held face-to-face me... Read more

NAMIC: Bill to Phase-out Federal Subsidies for Certain Flood-vulnerable Homes is ‘Common-Sense Solution’ to National Flood Program’s Woes

October 31, 2007 WASHINGTON (Oct. 31, 2007) – Eliminating federal subsidies for higher-priced, newly purchased homes in flood-prone areas will go a long way toward helping the nation’s flood program, according to the National Association of Mutual Insurance Companies (N... Read more

Kansas Task Force Recommends Adoption of NAMIC-supported Rate Modernization Legislation

October 29, 2007 INDIANAPOLIS (Oct. 29, 2007) – Kansas could become the ninth state to allow a modernized rating system for personal lines of insurance. A state task force studying rate modernization has issued a recommendation proposed by the National Association of Mu... Read more

NAMIC Urges Quick Action on Building Codes Legislation

October 23, 2007 WASHINGTON (Oct. 23, 2007) — The National Association of Mutual Insurance Companies (NAMIC) applauds Reps. Doris Matsui, D-Calif., and Mario Diaz-Balart, R-Fla., for introducing legislation to encourage states to adopt strong statewide building codes. N... Read more

NAMIC Praises Senate Terrorism Insurance Legislation

October 17, 2007 WASHINGTON (Oct. 17, 2007) – The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to the Senate Banking Committee’s approval of legislation to extend the government’s terrorism insurance backstop prog... Read more

NAMIC Lauds Senate Proposal for Flood Reform

October 17, 2007 WASHINGTON (Oct. 17, 2007) – The National Association of Mutual Insurance Companies (NAMIC) urged Congress to pass Senate-sponsored legislation that would reform the National Flood Insurance Program. The draft legislation was approved today by the Senat... Read more

NAMIC Skeptical of Florida’s Re-enacted Auto Insurance System

October 11, 2007 INDIANAPOLIS (Oct. 11, 2007) – Despite concerns about Florida’s just-expired no-fault auto insurance law, the system will go back into effect next year. Gov. Charlie Crist today is signing legislation passed during a special legislative session to re-en... Read more

Final Massachusetts Auto Regulations Mark Progress Despite Temporary Prohibition on Use of Credit in Underwriting and Rating

October 9, 2007 INDIANAPOLIS (Oct. 9, 2007) – Promulgation of final regulations for transitioning Massachusetts to a competitive auto insurance market represents significant progress despite the fact the Division of Insurance is temporarily prohibiting the use of credi... Read more

State - Not Federal - Regulation Works Best for Property/Casualty Insurance Consumers, NAMIC Tells Congress

October 3, 2007 WASHINGTON (Oct. 3, 2007) - Property/casualty insurance consumers would be best served by reforming the current state-based regulatory system rather than a new federal bureaucracy, according to the National Association of Mutual Insurance Companies (NAM... Read more

NAMIC Tells Senate to Adopt Needed Flood Reforms

October 2, 2007 WASHINGTON (Oct. 2, 2007) – The National Association of Mutual Insurance Companies today recommended the Senate take swift action to reform the National Flood Insurance Program. With the NFIP slated to expire next year, members of the Senate Banking Com... Read more

Use of Credit Scoring Benefits Majority of Insurance Consumers, NAMIC Says

October 1, 2007 WASHINGTON (Oct. 1, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today urged Congress to reject calls to further restrict the use of credit-based insurance scores for underwriting purposes. Speaking in advance of a congressiona... Read more

NAMIC Testifies Against Latest NAIC Proposal to Change Credit Rules for Alien Reinsurers’ Collateral

September 28, 2007 WASHINGTON (Sept. 28, 2007) – A seemingly “new” proposal to change and possibly reduce the amount of collateral required of alien reinsurers raises the same questions and concerns as a previous plan, according to the National Association of Mutual Insur... Read more

NAMIC Tells NAIC to Resist Calls for Tighter Regulation of Catastrophe Models That Would ‘Stifle Innovation in Assessing Risk’

September 28, 2007 WASHINGTON (Sept. 28, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today advised state insurance commissioners to be skeptical of bogus attacks on catastrophe models and the firms that develop them. The comments came during a p... Read more

NAMIC: Klein/ Mahoney Natural Disaster Legislation May Crowd Out Private Market, Encourage Risky Development

September 24, 2007 WASHINGTON (Sept. 24, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today expressed concerns about H.R. 3355, The Homeowners Defense Act. The proposal, introduced by Florida Democratic Reps. Ron Klein and Tim Mahoney, is schedul... Read more

New Report Urges Free-Market Reform – Not McCarran Repeal – to Improve Insurance Environment

September 19, 2007 GRAPEVINE, Texas (Sept. 19, 2007) – Though touted by backers as an effort to improve property insurance availability, affordability, and claims handling in disaster-prone regions, eliminating the antitrust exemption afforded insurers under the McCarran-... Read more

NAMIC Service Awards Presented

September 19, 2007 GRAPEVINE, Texas (Sept. 19, 2007) – The National Association of Mutual Insurance Companies (NAMIC) presented the 2007 Service Awards today to the association’s members who have made significant contributions to NAMIC and the mutual insurance industry. T... Read more

NAMIC Applauds House Passage of TRIA Legislation, Urges Swift Senate Action

September 19, 2007 WASHINGTON (Sept. 19, 2007) – Bipartisan legislation to extend the terrorism insurance backstop for 15 years is a good first step on this important issue, said the National Association of Mutual Insurance Companies. The measure, H.R. 2761, passed the U.... Read more

‘Together, We Are NAMIC’ Is 2007 NAMIC Chairman John Bykowski’s Theme

September 19, 2007 GRAPEVINE, Texas (Sept. 19, 2007) – John A. Bykowski was named chairman of the board of the National Association of Mutual Insurance Companies (NAMIC) during the annual meeting of the association’s 112th annual convention. Bykowski, chairman, president ... Read more

Wayne White Named 2007 IEI Lifetime Achievement Award Recipient

September 18, 2007 GRAPEVINE, Texas (Sept. 18, 2007) – The Insurance Education Institute’s 2007 Lifetime Achievement Award was presented to Wayne F. White, CPA, PFMM, during the Tuesday General Session of the 112th NAMIC Annual Convention. White is president and chairman ... Read more

NAMIC Announces Merit Award Recipients

September 18, 2007 GRAPEVINE, Texas (Sept. 18, 2007) – The National Association of Mutual Insurance Companies (NAMIC) Merit Award was presented to 11 certified applicants during NAMIC's Merit Society annual breakfast held during the trade association's 112th Annual Conven... Read more

Sen. Ben Nelson Takes Top NAMIC Legislative Honors

September 17, 2007 GRAPEVINE, Texas (Sept. 17, 2007) – U.S. Sen. Ben Nelson, D-Neb., has been named the 2007 Federal Legislator of the Year by the National Association of Mutual Insurance Companies (NAMIC). Nelson, who also served as an insurance company CEO as well as Ne... Read more

NAMIC’s Chairman’s Award Winner Announced

September 17, 2007 GRAPEVINE, Texas (Sept. 17, 2007) – David L. Lehman, president of Mennonite Mutual Insurance Company, Orrville, Ohio, has been named the 2007 recipient of the National Association of Mutual Insurance Companies' (NAMIC) Chairman's Award. The award was cr... Read more

NAMIC’s Property Casualty Conference Names Officers and Directors for 2007-2008

September 17, 2007 GRAPEVINE, Texas (Sept. 17, 2007) – The National Association of Mutual Insurance Companies' (NAMIC) Property Casualty Conference named its officers and directors for 2007-2008 during NAMIC's 112th Annual Convention, being held this year in Grapevine, Te... Read more

Three NAMIC Member Companies Celebrate a Century of Service

September 17, 2007 GRAPEVINE, (Sept. 17, 2007) – Three member companies of the National Association of Mutual Insurance Companies (NAMIC) have joined the ranks of the Century Club. The club was founded by NAMIC to honor its mutual insurance company members reaching the mi... Read more

Art Meadows Named 2007 PFMM Of The Year

September 17, 2007 GRAPEVINE, Texas (Sept. 17, 2007) - Art Meadows, PFMM, president/CEO of Panhandle Farmers Mutual Insurance Co., Moundsville, W.V., has been named Professional Farm Mutual Manager of the Year by the Farm Mutual Conference of the National Association of M... Read more

Two Win NAMIC State Legislator of the Year Awards

September 17, 2007 GRAPEVINE, Texas (Sept. 17, 2007) – State Rep. Don Brown of Florida and State Sen. Linda Scheid of Minnesota have been named State Legislators of the Year by the National Association of Mutual Insurance Companies (NAMIC). Chuck Chamness, NAMIC's preside... Read more

NAMIC Kicks Off 112th Annual Convention

September 16, 2007 GRAPEVINE, Texas (Sept. 16, 2007) – The National Association of Mutual Insurance Companies kicked off its 112th Annual Convention today at the Gaylord Texan Resort and Convention Center. This four-day – Sept. 16-19 – event is packed with industry-relate... Read more

NAMIC Farm Mutual Conference Board Names 2007-2008 Officers, Directors

September 16, 2007 GRAPEVINE, Texas – (Sept. 16, 2007) – The NAMIC Farm Mutual Conference Board has named its 2007-2008 officers and directors. The FMC Board manages conference activities and educational seminars. Directors serve three-year terms and meet every quarter. C... Read more

Congress Introduces Legislation to Help Smaller Insurance Companies

September 12, 2007 WASHINGTON (Sept. 12, 2007) — Legislation amending the Internal Revenue Code of 1986 to enhance tax incentives for small property/casualty insurance companies has been introduced, the National Association of Mutual Insurance Companies (NAMIC) announced ... Read more

NAMIC Media Alert

September 11, 2007 What : Release of major public policy paper: The Assault on the McCarran-Ferguson Act and the Politics of Insurance in the Post-Katrina Era Who : The author, Dr. Lawrence Powell, the Whitbeck-Beyer Chair of Insurance and Financial Services at the Univer... Read more

Trial Lawyer Report on Hurricane Katrina Called Self-Serving Fiction by Insurance Groups

August 29, 2007 A recently released report by a plaintiffs’ attorneys group ignores the facts about insurance companies’ response to Hurricane Katrina in a deliberate effort to pad the pockets of the lawsuit industry by drumming up litigation and high jury verdicts, ac... Read more

Challenges of Government Regulation Highlight NAMIC’s Annual Convention

August 24, 2007 INDIANAPOLIS (Aug. 24, 2007) – Former Florida Gov. Jeb Bush kicks off the National Association of Mutual Insurance Companies’ (NAMIC) Annual Convention, Sept. 16–19 in Gaylord, Texas, just outside Dallas. Now in its 112th year, the meeting presents an o... Read more

Insurance Expert: Supreme Court Case Foreshadows Problems of Federal Oversight

August 24, 2007 INDIANAPOLIS (Aug. 24, 2007) – A brief filed by the U.S. Department of Justice in a recent Supreme Court case provides disconcerting clues about how the federal government might regulate the business of insurance, according to a new report issued by the... Read more

NAMIC: Veto of New York Credit Bill Good for Consumers

August 17, 2007 INDIANAPOLIS (August 17, 2007) – New York Gov. Eliot Spitzer has vetoed legislation opposed by the National Association of Mutual Insurance Companies (NAMIC) that would have hampered insurers’ use of credit-based insurance scores and ultimately hurt con... Read more

Latest Federal Report Reiterates Fairness, Benefits of Credit Scoring for Financial Products

August 15, 2007 WASHINGTON (Aug. 15, 2007) – The National Association of Mutual Insurance Companies (NAMIC) pointed to a new government report showing a direct correlation between credit scoring and risk. A study released by the Federal Reserve Board comes on the heels... Read more

NAMIC: Small Progress Made on Insurance Concerns in North Carolina Legislative Session

August 15, 2007 INDIANAPOLIS (Aug. 15, 2007) – The National Association of Mutual Insurance Companies (NAMIC) pledged to continue its efforts to modernize North Carolina’s insurance regulatory system in the 2008 legislative session. NAMIC’s comments came as the 2007 se... Read more

NAMIC: Court Decision Upholds Validity of Flood Exclusions in Homeowners’ Policies

August 3, 2007 INDIANAPOLIS (Aug. 3, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today commended a U.S. appellate court decision upholding flood exclusions in insurance contracts. The ruling by the U.S. Circuit Court of Appeals for the Fifth... Read more

New York Governor Vetoes Legislation Opposed by NAMIC

August 2, 2007 INDIANAPOLIS (Aug. 2, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today applauded New York Gov. Eliot Spitzer’s decision to veto legislation that would have posed significant problems for the insurance claims process and led t... Read more

Commission is ‘Key’ to Helping Nation Respond to Future Natural Disasters, NAMIC Says

August 1, 2007 WASHINGTON (Aug. 1, 2007) – The National Association of Mutual Insurance Companies today commended the Senate Banking Committee for approving the Commission on Natural Catastrophe Risk Management and Insurance Act of 2007. The legislation would establis... Read more

TRIA: Essential Legislation Advances As NAMIC Works to Improve Bill

August 1, 2007 WASHINGTON (Aug 1, 2007) – The latest version of a federal terrorism backstop approved by the House Financial Services Committee goes a considerable distance toward helping smaller insurance companies offer terrorism coverage, according to the National ... Read more

NAMIC Criticizes Wind Coverage Inclusion in Otherwise Strong Flood Reform Legislation

July 27, 2007 WASHINGTON (July 27, 2007) – The National Association of Mutual Insurance Companies (NAMIC) strongly urges Congress to pass what it called a "much-needed flood reform bill" but without a provision adding wind coverage to the nation’s flood insurance pro... Read more

NAMIC: Optional Federal Charter Would Create Giant Bureaucracy, Leading to More Regulation and Confusion for Consumers, Companies

July 25, 2007 WASHINGTON (July 25, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today reiterated its stance against an optional federal charter to regulate the business of insurance. The comments came in response to a bill proposed by Reps. ... Read more

NAMIC Takes Florida Insurance Regulator to Task for Recent Comments

July 25, 2007 INDIANAPOLIS (July 25, 2007) – The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to comments expressed by Florida Insurance Commissioner Kevin McCarty in a statement sent to Florida newspapers. The... Read more

NAMIC Encouraged by House Subcommittee Action on Terrorism Legislation

July 24, 2007 WASHINGTON (July 24, 2007) - The National Association of Mutual Insurance Companies (NAMIC) issued the following statement after the House Financial Services' Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises reported an a... Read more

Washington: Insurers Join Together to Defeat Referendum 67

July 23, 2007 OLYMPIA, Wash. (July 23, 2007) - The American Insurance Association (AIA), The National Association of Mutual Insurance Companies (NAMIC), and the Property Casualty Insurers Association of America (PCI) have joined together along with a broad-based coal... Read more

NAMIC Comments on Government Report on Credit-based Scoring by Insurers

July 20, 2007 WASHINGTON (July 20, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today pointed to a government report that upheld the use of credit-based insurance scores for underwriting purposes. In response to the findings of a long-awaite... Read more

NAMIC Applauds Louisiana Governor’s Rejection of Auto Insurance Legislation

July 19, 2007 INDIANAPOLIS (July 19, 2007) - The National Association of Mutual Insurance Companies (NAMIC) congratulated Gov. Kathleen Blanco for vetoing legislation that would have raised the minimum motor vehicle financial responsibility limits. NAMIC had urged th... Read more

NAMIC Asks New York Governor to Veto Bill Prohibiting Consideration of Inquiries in Credit Reports

July 17, 2007 INDIANAPOLIS (July 17, 2007) – Legislation prohibiting consideration of mortgage and auto loan credit inquiries in determining credit scores would make insurance underwriting less precise and harm consumers, according to the National Association of Mutu... Read more

Florida Governor’s Comments are ‘Inflammatory, Misleading’ NAMIC Says

July 5, 2007 INDIANAPOLIS (July 5, 2007) – The following statement is in response to a South Florida Sun-Sentinel newspaper story that appeared in the July 3, 2007 editions, in which Florida Gov. Charlie Crist says he’s disappointed with property insurance companies... Read more

NAMICO Celebrates 20 Years of Delivering D&O/E&O Coverage, Risk Management to Mutual Property/Casualty Insurance Industry

July 1, 2007 Indianapolis (July 1, 2007)— NAMIC Insurance Company, Inc. (NAMICO), a specialty lines carrier that insures members of the National Association of Mutual Insurance Companies (NAMIC) and their agents, is celebrating 20 years of service to its policyholde... Read more

Legislation Could Make ‘All the Difference’ in Louisiana’s Insurance Marketplace

June 29, 2007 (INDIANAPOLIS) June 29, 2007 – In one of the first moves of its kind, the Louisiana Legislature has adopted legislation to lure more insurance companies to hurricane-prone areas by offering financial incentives. In the final minutes of the 2007 session,... Read more

NAMIC Encourages Senate to Follow House’s Lead on Surplus Lines Bill

June 25, 2007 WASHINGTON (June 25, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today applauded the House for passing legislation to reform the surplus lines and reinsurance market. H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 20... Read more

NAMIC, PCI to Congress: Adopt Long-term TRIA Program Without NBCR

June 21, 2007 WASHINGTON (June 21, 2007) — A proposal to extend the government’s involvement in terrorism insurance fits the bill – almost. That’s the message delivered to members of Congress by a representative for trade associations representing some 2,500 insuranc... Read more

NAMIC Urges Lawmakers to Remove NBCR Coverage from TRIA Extension Draft

June 19, 2007 WASHINGTON (June 19, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today commended the bill that was released to extend the Terrorism Risk Insurance Act. Although NAMIC supports many provisions in the legislation, the most troub... Read more

Governor Rejects Alabama Motor Vehicle Safety Responsibility Act Following Letter from NAMIC

June 18, 2007 INDIANAPOLIS (June 18) — Alabama Gov. Bob Riley blocked legislation to increase the state’s auto liability minimum limits, heeding comments made by Liz Reynolds, southeastern state affairs manager for the National Association of Mutual Insurance Compani... Read more

NAMIC Decries Florida’s Latest Assault on Credit-Based Insurance Scoring

June 14, 2007 INDIANAPOLIS (June 14, 2007) — A new rule announced by the Florida Office of Insurance Regulation governing insurers’ use of credit-based insurance scoring is vague, unreasonable, and conceptually flawed, says the National Association of Mutual Insuranc... Read more

NAMIC Warns of Unintended Consequences of Rhode Island Coastal Legislation

June 14, 2007 INDIANAPOLIS (June 14, 2007) — Legislators must give careful consideration to potential unintended consequences of any legislation proposed in response to coastal property insurance market developments, NAMIC warned members of the Rhode Island House Cor... Read more

NAMIC Official Joins South Carolina Governor in Signing Ceremony for Coastal Property Insurance Reform Bill

June 13, 2007 INDIANAPOLIS (June 13, 2007) — South Carolina homeowners and insurers will get some relief thanks to legislation signed by Gov. Mark Sanford. Joining the governor on the podium during this week’s bill signing ceremony was Liz Reynolds, southeast state a... Read more

NAMIC Disheartened by Mississippi Attorney General’s Lawsuit Announcement

June 12, 2007 INDIANAPOLIS (June 12, 2007) — The National Association of Mutual Insurance Companies (NAMIC) was disappointed to learn of the impending lawsuit against State Farm Insurance by the Mississippi attorney general. In response, NAMIC Vice President of State... Read more

NAMIC Applauds Supreme Court Decision in Fair Credit Reporting Act Case

June 6, 2007 WASHINGTON (June 6, 2006) — The National Association of Mutual Insurance Companies (NAMIC) praised the U.S. Supreme Court’s unanimous ruling clarifying provisions of the Fair Credit Reporting Act that address the use of credit reports in the insurance u... Read more

NAMIC Opposes Call for Mandatory Insurer Disclosure Requirements on Climate Change

June 5, 2007 SAN FRANCISCO (June 5, 2007) – The National Association of Mutual Insurance Companies (NAMIC) on Monday expressed concerns about a proposal that would force insurers to answer an extensive set of legalistic “interrogatories” covering virtually every asp... Read more

NAMIC Continues Fight Opposing New NAIC Model Audit Rule with Sarbanes-Oxley- Inspired Content

June 4, 2007 SAN FRANCISCO (June 4, 2007) – The National Association of Insurance Commissioners’ Financial Regulation Standards and Accreditation Committee advanced a new Model Audit Rule (MAR) with content based on the Sarbanes-Oxley Act, over the strong objections... Read more

2007 Hurricane Season Should Prompt Integrated Approach to Coastal Issues, NAMIC Suggests

May 29, 2007 WASHINGTON (May 25, 2007) — With the start of the 2007 hurricane season just days away, the National Association of Mutual Insurance Companies (NAMIC) urges lawmakers, public policymakers, insurers, and consumers to collaborate on steps to minimize huma... Read more

Trade Associations Appeal to Congressional Leaders to Keep Mandatory NBCR Coverage Out of TRIA Extension Proposal

May 24, 2007 WASHINGTON (May 24, 2007) — Private insurers should not be required to offer coverage for terrorism attacks generated by nuclear, biological, chemical and radiological weapons of mass destruction, industry trade groups told congressional leaders today. ... Read more

NAMIC: Optional Federal Charter Would Hurt Consumers and Insurers

May 24, 2007 WASHINGTON (May 24, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today announced its strong opposition to The National Insurance Act of 2007, which would bring the federal government into the insurance regulatory system. NAMIC ... Read more

Mutual Trades Applaud Defeat of ‘Double Lawsuit’ Bill

May 23, 2007 INDIANAPOLIS (May 23, 2007)—The Minnesota Association of Farm Mutual Insurance Companies (MAFMIC) and the National Association of Mutual Insurance Companies (NAMIC) stated today that “consumers win” with the legislative defeat of harmful Bad Faith “Doub... Read more

Colorado: NAMIC Asks Governor to Veto Uninsured/Underinsured Motorist Coverage Legislation

May 21, 2007 INDIANAPOLIS (May 21, 2007) — The National Association of Mutual Insurance Companies (NAMIC) is urging Colorado Gov. Bill Ritter to veto legislation concerning uninsured and underinsured motorists. In a letter to the governor, NAMIC warned that the legi... Read more

Washington Governor Signs Legislation That will Clog the Courts and Raise Insurance Costs

May 16, 2007 Olympia, WA, May 16, 2007 – Three insurance industry advocacy trade associations expressed deep disappointment in Washington Gov. Christine Gregoire’s (D) decision to sign legislation designed to increase unnecessary lawsuits. The American Insurance Ass... Read more

Grande Joins NAMIC’s Government Affairs Team

May 10, 2007 WASHINGTON (May 10, 2007) — Jimi Grande has joined the National Association of Mutual Insurance Companies’ (NAMIC) federal affairs office as vice president of federal and political affairs, announced Chuck Chamness, NAMIC president and CEO. In this newl... Read more

NAMIC Asks South Carolina Governor to Sign Coastal Property Insurance Reform Bill

May 9, 2007 INDIANAPOLIS (June 9) — The National Association of Mutual Insurance Companies (NAMIC) on Friday asked South Carolina Gov. Mark Sanford, R, to sign legislation designed to address homeowners’ insurance issues in coastal areas of the state. NAMIC sent a ... Read more

Final Florida Property Insurance Package Much More Than ‘Glitch’ Bill

May 8, 2007 INDIANAPOLIS (May 8, 2007) — Legislation passed in the final days of the 2007 Florida Legislature could have a significant detrimental impact on consumers. The one positive note for consumers, the lack of action on the state’s no-fault auto insurance sy... Read more

Indiana Legislature Adjourns: Insurance Industry Secures Passage of Key Measures

May 1, 2007 INDIANAPOLIS (May 1, 2007)— A successful session for the property/casualty insurance industry concluded on Sunday with significant wins for the National Association of Mutual Insurance Companies' (NAMIC) members and the insurance industry as a whole, re... Read more

NAMIC: Washington State Bad Faith Bill is Unnecessary, Would Drive Up Rates

April 25, 2007 OLYMPIA (April 25, 2007) — The National Association of Mutual Insurance Companies (NAMIC) has strongly urged Washington’s governor to veto legislation creating the Insurance Fair Conduct Act. In a letter to Gov. Chris Gregoire, Christian J. Rataj, NAMIC... Read more

NAMIC Implores Congress to Extend TRIA, Assure Participation by Smaller Insurers

April 24, 2007 WASHINGTON (April 24, 2007) — The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in advance of the House Financial Services’ Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises hear... Read more

NAMIC Urges House Committee to Extend TRIA

April 19, 2007 WASHINGTON (April 19, 2007) — The National Association of Mutual Insurance Companies (NAMIC) applauds the House Financial Services’ Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises for its decision to consider testimony o... Read more

NAMIC Applauds NCOIL for Cautioning Congress on McCarran-Ferguson Repeal

April 17, 2007 INDIANAPOLIS (April 17, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today praised the National Conference of Insurance Legislators for warning Congress of the potentially devastating consequences of repealing the limited antit... Read more

NAMIC Launches McCarran-Ferguson Online Resource Center

April 16, 2007 INDIANAPOLIS (April 16, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today unveiled a resource center dedicated to addressing the concerns and misconceptions about the McCarran-Ferguson Act. The McCarran-Ferguson Act Resource C... Read more

Private Market is Best Mechanism to Address Coastal Insurance Issues, NAMIC CEO Tells Congress

April 11, 2007 WASHINGTON (April 11, 2007) — The private insurance marketplace, not the federal government, is the best vehicle to address coastal insurance issues in the U.S. But the federal government can play a role in efforts to reduce affordability and availabili... Read more

NAMIC Media Alert

April 10, 2007 Who : Chuck Chamness, president and CEO, National Association of Mutual Insurance Companies What : Testifying at Senate Committee on Banking, Housing and Urban Affairs hearing on: An Examination of the Availability and Affordability of Property and Casu... Read more

NAMIC Presents Benjamin Franklin Public Policy Award to Members of the 109th Congress

April 5, 2007 WASHINGTON (April 5, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today announced the recipients of its Benjamin Franklin Public Policy Awards. Through their consistent support of legislation that encourages less onerous regula... Read more

National Association of Mutual Insurance Companies Joins Insurance Research Council

April 5, 2007 MALVERN, Pa (April 5, 2007) — The National Association of Mutual Insurance Companies (NAMIC) and the Insurance Research Council (IRC) announced today that NAMIC has joined nine insurance companies as the newest member of the IRC. NAMIC is a national tra... Read more

NAMIC: Antitrust Report ‘Troublesome’

April 4, 2007 WASHINGTON (April 4, 2007) — A new report calling for a review of the McCarran-Ferguson Act is troubling, said the National Association of Mutual Insurance Companies (NAMIC). While the report — by the Antitrust Modernization Commission — does not recomm... Read more

Delaware: NAMIC Opposes Anti-consumer Credit Ban Legislation

March 30, 2007 INDIANAPOLIS (March 30, 2007) — Legislation to ban the use of credit-based insurance scores to set auto and homeowners insurance rates in Delaware would ultimately hurt consumers, according to the National Association of Mutual Insurance Companies (NAMI... Read more

NAMIC Supports Tax-free Savings Accounts for Future Disasters

March 30, 2007 WASHINGTON (March 30, 2007) — Legislation that would allow homeowners to set up tax-free savings accounts for natural disasters would go a long way toward encouraging them to prepare for catastrophes, said the National Association of Mutual Insurance Co... Read more

Private Insurance Market is Best Option to Handle Most Natural Catastrophes, NAMIC Tells Congress

March 27, 2007 WASHINGTON (March 27, 2007) — The best way to address the increasing financial challenges of future natural catastrophes is to strengthen the current private market system, according to the National Association of Mutual Insurance Companies (NAMIC). Inc... Read more

NAMIC Joins Insurance, Business Associations to Oppose Anti-consumer Legislation

March 26, 2007 WASHINGTON (March 26, 2007) — The National Association of Mutual Insurance Companies (NAMIC) has joined in an unprecedented effort to battle anti-competitive, anti-consumer proposals in Congress. A letter signed by 10 insurance and business trade associ... Read more

Insurance and Business Groups Urge Lawmakers to Reject McCarran Repeal Proposals

March 26, 2007 WASHINGTON (March 26, 2007) — Members of leading insurance and business industry trade associations have joined forces to oppose legislation that would repeal a long-standing federal law that fosters competition in the insurance marketplace. In a letter... Read more

NAMIC’s World-class Advocacy Program Kicks Off 22nd Year

March 23, 2007 "Meeting with lawmakers face-to-face is one of the most powerful tools to having one’s voice heard," said Carl Parks, NAMIC’s senior vice president for government affairs. "By educating and building bipartisan relationships with members of Congress, par... Read more

NAMIC Executives Shave Heads for Childhood Cancer Cure

March 21, 2007 INDIANAPOLIS (March 21, 2007) - “How much would you donate to see me shave my head bald to find cures for childhood cancer?” That question is the essence of St. Baldrick — and the commitment of the National Association of Mutual Insurance Companies’ (NA... Read more

NAMIC Urges Lawmakers to Reject Provisions in Small Business Legislation

March 14, 2007 WASHINGTON (March 14, 2007) - Two sections of legislation being considered today by the House Ways and Means Committee would unnecessarily increase business costs for insurers, resulting in higher premiums for policyholders, according to the National As... Read more

NAMIC Cautions Against Keeping No-Fault Auto Insurance

March 13, 2007 TALLAHASSEE (March 13, 2007) - The National Association of Mutual Insurance Companies (NAMIC) spoke out against Florida's no-fault auto insurance system. Liz Reynolds, NAMIC state affairs manager for the Southeastern region, addressed reporters and othe... Read more

NAMIC Warns Congress of Unintended Consequences

March 7, 2007 WASHINGTON (March 7, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today urged Congress to reject attempts to repeal the limited antitrust exemptions allowed for insurance companies. Such action could reduce competition, increas... Read more

NAMIC Asks New Jersey Lawmakers to Consider Consequences Before Imposing Underwriting Restrictions on Auto Insurers

March 5, 2007 INDIANAPOLIS (March 5, 2007) – New Jersey drivers could see a return to high prices and fewer choices for their insurance if legislators adopt underwriting restrictions. Senate Bill 1714 would represent a “significant step backward for New Jersey, and i... Read more

Threat to Antitrust Exemption Highlights NAMIC’s 2007 Program

March 2, 2007 WASHINGTON (March 2, 2007) — The National Association of Mutual Insurance Companies (NAMIC) has laid out an aggressive agenda of federal issues to target in 2007. While many important topics are a concern for property/casualty insurers — especially mutu... Read more

NAMIC Takes TRIA Message to the Heart of Ground Zero

March 2, 2007 WASHINGTON (March 2, 2007) — Business owners across the country could find themselves in dire straits if the Terrorism Risk Insurance Act is allowed to expire this year. That’s the message an insurance industry executive and representative for the Natio... Read more

Insurers Paid More than $40 Billion in Hurricane Katrina-Related Claims; Majority Settled Without Dispute

February 28, 2007 Companies have strengthened their catastrophe response capabilities since Katrina I.I.I. President Dr. Robert Hartwig expresses concern about insurers’ future amid legislative/regulatory changes, litigation in testimony before Congress WASHINGTON, D.C.,... Read more

Insurers Dispel Misconceptions Raised During Congressional Hearing

February 28, 2007 WASHINGTON, D.C., February 28, 2007 — Property/casualty insurers are encouraged by statements made by House Financial Services Oversight and Investigations Subcommittee Chairman Melvin Watt, D-N.C., suggesting that he wants to gather the facts as his pa... Read more

NAMIC Urges Lawmakers to Take a Balanced View of Insurance Issues

February 28, 2007 WASHINGTON (Feb. 28, 2007) – Federal lawmakers should reject calls to revamp or further regulate the insurance industry and instead allow the system to function as it’s currently designed, according to the National Association of Mutual Insurance Compan... Read more

More Catastrophe-Related Laws Enacted in 2006, Annual NAMIC Survey of State Insurance Laws Reveals

February 22, 2007 INDIANAPOLIS (Feb. 22, 2007) – Enacted catastrophe-related laws increased dramatically in the states last year, according to the annual survey of state insurance laws prepared by the National Association of Mutual Insurance Companies (NAMIC). “Ten state... Read more

NAMIC Takes Issue with Comments by Mississippi Attorney General

February 20, 2007 INDIANAPOLIS (Feb. 20, 2007) - The National Association of Mutual Insurance Companies (NAMIC) will strongly oppose any proposal in Mississippi that would enact elements of legislation recently adopted in Florida. At a press conference today, Attorney Ge... Read more

Stronger U.S. Commitment Needed to Move Beyond Petroleum-Based Economy, Sen. Richard Lugar Tells Climate and Insurance Website

February 20, 2007 INDIANAPOLIS (Feb. 20, 2007) - If the United States is to move beyond a petroleum-based economy, it will require a stronger commitment by government, industry, and non-governmental leaders, U.S. Sen. Richard G. Lugar said recently in a wide-ranging inte... Read more

Legislation to Modify Antitrust Exemption for Insurers Could Hurt Consumers and Small P/C Carriers, NAMIC Official Says

February 16, 2007 INDIANAPOLIS (Feb. 16, 2007)—The National Association of Mutual Insurance Companies (NAMIC) strongly opposes legislation to modify the insurance industry’s antitrust exemptions in the McCarran-Ferguson Act. NAMIC believes the proposal is unnecessary and... Read more

NAMIC Testifies Before Florida Office of Insurance Regulation; Defends Use of Education and Occupation in Underwriting

February 15, 2007 INDIANAPOLIS (February 15, 2007) – The National Association of Mutual Insurance Companies (NAMIC) disputed claims made by the Florida Office of Insurance Regulation (OIR) that auto insurance companies use education and occupation underwriting criteria t... Read more

NAMIC Names Thesing Director of State Affairs

February 6, 2007 INDIANAPOLIS (Feb. 6, 2007)—The National Association of Mutual Insurance Companies (NAMIC) announced it has named long-time State Affairs Manager Joe Thesing to the new position of director-state affairs. In this new capacity, Thesing will assume the da... Read more

NAMIC Testimony Helps Indiana Premium Tax Bill Pass House Committee

February 1, 2007 INDIANAPOLIS (Feb. 1, 2007)—The National Association of Mutual Insurance (NAMIC) provided supporting testimony yesterday, as Indiana took a step forward in attracting more insurance jobs to the state by lowering its insurance premium tax to 1 percent. “... Read more

Coastal Insurance ‘Solutions’ Could Make Matters Worse, NAMIC Official Warns in Trade Publication Article

January 31, 2007 INDIANAPOLIS (Jan. 31, 2007) - Changes in the coastal property insurance market that have caused consternation for property owners present a public policy challenge because many measures put forward as “solutions” would actually make matters worse, acco... Read more

NAMIC Testifies Against South Dakota Replacement Parts Legislation

January 25, 2007 INDIANAPOLIS (January 25, 2007) - The National Association of Mutual Insurance Companies (NAMIC) today urged South Dakota lawmakers to reject Senate Bill 48, a proposal to adopt consumer protection standards for property/casualty insurance claims. NAMIC... Read more

NAMIC’s Website Features New Dynamic Content Delivery Methods

January 25, 2007 INDIANAPOLIS (January 25, 2007) – Dynamic news feeds powered by RSS (Really Simple Syndication) technology, audio podcasts from NAMIC’s government affairs staff, Flash video, and a weekly web log (blog) from NAMIC’s CEO & President Chuck Chamness highli... Read more

NAMIC Outlines Concerns of Mississippi Homeowner Insurance Policyholder Bill of Rights Proposal

January 25, 2007 INDIANAPOLIS (Jan. 25, 2007) - The National Association of Mutual Insurance Companies (NAMIC) warned Mississippi Insurance Commissioner George Dale that sections of a proposed regulation to better inform homeowners about their insurance policies could d... Read more

Florida Lawmakers’ Efforts to Appease Homeowners Could Have Chilling Effect, NAMIC Says

January 23, 2007 INDIANAPOLIS (January 23, 2007) - Legislation designed to bring rate relief to Florida homeowners may ultimately have the opposite effect, according to the National Association of Mutual Insurance Companies (NAMIC). The 167-page package passed yesterday... Read more

Climate Change, Election Results Signal Need for New Strategies by Insurers, Say IN Magazine Features

January 22, 2007 INDIANAPOLIS (January 22, 2007) — A couple of hot issues are featured prominently in the latest issue of IN magazine , the quarterly publication of the National Association of Mutual Insurance Companies (NAMIC). Climate change and the November elections... Read more

Insurance Reform Bills Won’t Solve Florida’s Problems, NAMIC Official Says

January 18, 2007 Indianapolis (Jan. 18, 2007) – Insurance reform bills being considered this week by Florida lawmakers will not solve the state’s insurance crisis, and instead will make the situation worse, a senior official of the National Association of Mutual Insuran... Read more

NAMIC Launches Climate Change Website

January 17, 2007 Indianapolis (Jan. 17, 2007) – The National Association of Mutual Insurance Companies (NAMIC) today unveiled a new website, www.climateandinsurance.org , to help address the increasing concerns about climate change and its impact on the property/casualt... Read more

NAMIC ‘Disappointed’ in Judge’s Ruling Against State Farm

January 12, 2007 INDIANAPOLIS (Jan. 12, 2007) - A federal court’s ruling against State Farm Mutual Automobile Insurance Company could ultimately mean higher rates for consumers, according to the National Association of Mutual Insurance Companies (NAMIC). The case, Brous... Read more

Insurers Pass on Savings to Consumers, NAMIC Reports

January 8, 2007 INDIANAPOLIS (Jan. 8, 2007)—The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to allegations by the Consumer Federation of America (CFA) regarding record profit levels among insurers. “The recent p... Read more

NAMIC Appoints Media Relations Director

December 7, 2006 INDIANAPOLIS (Dec. 7, 2006) - Former insurance journalist, Nancy Grover, has joined the National Association of Mutual Insurance Companies (NAMIC) as its media relations director. Grover, who will be based in NAMIC’s Washington, D.C. office, will promot... Read more

NAMIC Appoints Southeast Regional State Affairs Manager

November 15, 2006 INDIANAPOLIS (Nov. 15, 2006) – The former director of public affairs for Indiana Farm Bureau Insurance, Liz Reynolds, has joined the National Association of Mutual Insurance Companies (NAMIC) as state affairs manager for the southeastern United States. ... Read more

MEDIA ADVISORY: Midterm Elections

November 6, 2006 INDIANAPOLIS (Nov. 6, 2006) – Staff of the National Association of Mutual Insurance Companies (NAMIC) will be available on Wednesday, Nov. 8 to comment on the results of Tuesday’s midterm elections. U.S. House and Senate Races Carl M. Parks, Senior Vice... Read more

Tort Versus No-Fault Auto Reform Paradigm Is False Choice, NAMIC Policy Paper Claims

October 4, 2006 INDIANAPOLIS (Oct. 4, 2006) – The belief that the only way to reform the costly tort system is by adopting a no-fault law is a false choice, a new public policy paper issued today by the National Association of Mutual Insurance Companies (NAMIC) conclud... Read more

NAMIC Issues Statement in Response to Terrorism Risk Insurance Report Issued by the President’s Working Group on Financial Markets

October 3, 2006 WASHINGTON (Oct. 3, 2006) – The National Association of Mutual Insurance Companies (NAMIC) today issued the following statement in response to the release of the Terrorism Risk Insurance Report of the President’s Working Group on Financial Markets. The ... Read more

NAMIC Opposes Optional Federal Charter

September 28, 2006 WASHINGTON (Sept. 28, 2006)—The National Association of Mutual Insurance Companies (NAMIC) announced its strong opposition to H.R. 6225, The National Insurance Act of 2006, introduced this afternoon by Rep. Ed Royce, R-Calif. The Royce bill would establ... Read more

NAMIC Optimistic: House Passes Surplus Insurance Lines Bill

September 28, 2006 WASHINGTON (Sept. 28, 2006)—Late yesterday afternoon, the House of Representatives unanimously approved H.R. 5637, the Non-Admitted and Reinsurance Reform Act. The bill, sponsored by Reps. Ginny Brown-Waite, R-Fla., and Dennis Moore, D-Kan., provides co... Read more

NAMIC Representative Testifies Before House Subcommittees on Protecting Americans From Catastrophic Terrorism Risk

September 27, 2006 WASHINGTON (Sept. 27, 2006)—Congress needs to adopt a long-term private/public terrorism risk insurance program, said a National Association of Mutual Insurance Companies (NAMIC) witness in testimony before two House Financial Services Subcommittees tod... Read more

NAMIC Farm Mutual Conference Board Names 2006-2007 Officers and Directors

September 20, 2006 TAMPA, Fla. (September 20, 2006)—NAMIC’s volunteer leadership provides the direction that makes NAMIC truly a member-driven organization. The Farm Mutual Conference (FMC) Board oversees educational seminars and other conference activities, including ove... Read more

NAMIC Property Casualty Conference Board Names Officers and Directors for 2006-2007

September 20, 2006 TAMPA, Fla. (September 20, 2006)—NAMIC's foundation is built upon its diversity in membership and grassroots strength. NAMIC's strength is much the same as it was when it was founded in 1895; members are able to accomplish objectives more effectively as... Read more

Three NAMIC Members Celebrate a Century of Service

September 20, 2006 TAMPA, Fla. (September 20, 2006)—Three member companies of the National Association of Mutual Insurance Companies have joined the ranks of the Century Club. The club was founded by the association to honor its mutual insurance company members reaching t... Read more

Nine Receive Merit Society Award

September 20, 2006 TAMPA, Fla. (September 20, 2006)—The NAMIC Merit Award was presented to nine certified applicants at the Society’s annual breakfast, held during NAMIC’s 111th Annual Convention, or at the applicant’s state/provincial association annual convention. Those... Read more

Gerald P. Schmidt Begins Term as 2006 - 2007 NAMIC Chairman

September 20, 2006 Focuses Theme on Speaking for Each Other, Standing up for Each Other and Looking Out for Each Other’s Interests TAMPA, Fla. (September 20, 2006)—Gerald P. Schmidt, CPCU, president & CEO, Mutual of Enumclaw Insurance Co., Enumclaw, Wash., is the 2006-200... Read more

2006 Service Awards Presented to Five at NAMIC’s Annual Business Meeting

September 20, 2006 TAMPA, Fla. (September 20, 2006)—The 2006 Service Awards were presented to five individuals who have made significant contributions to the National Association of Mutual Insurance Companies and to the mutual insurance industry during the association’s a... Read more

John K. Smith Presented 2006 Lifetime Achievement Award from the IEI and NAMIC

September 19, 2006 President and CEO of Pennsylvania Lumbermens Mutual Insurance Company is Champion of Educational Pursuits and Tireless Advocate for the Mission of the Insurance Education Institute (IEI) TAMPA, Fla. (September 19, 2006)—John K. Smith, CPCU, CRM, CIC, pr... Read more

NAMIC Kicks Off 111th Annual Convention

September 18, 2006 Following the Traditional Ceremony of Flags, Chairman Robert A. Wadsworth Delivers Salient Remarks TAMPA, Fla. (September 18, 2006)—Following the traditional “Ceremony of Flags” and the singing of the U.S. and Canadian national anthems, the 111th NAMIC ... Read more

Priscilla Hughes is Named NAMIC’s 2006 Professional Farm Mutual Manager of the Year

September 18, 2006 New PFMM Designees total 29 TAMPA, Fla. (September 18, 2006)—NAMIC awarded Pricilla “Cilla” Hughes, manager, Hope Mutual Insurance Company, Tyler, Minn., the Professional Farm Mutual Manager (PFMM) of the Year Award during the NAMIC Farm Mutual Conferen... Read more

Warren Heck Receives NAMIC’s Chairman’s Award

September 18, 2006 Chairman & CEO of Greater New York Mutual Insurance Company Exemplifies Spirit of Getting Directly Involved TAMPA, Fla. (September 18, 2006)—Warren Heck, chairman and CEO of Greater New York Mutual Insurance Company, New York, N.Y., was the 2006 recipie... Read more

Rep. Richard Baker Named NAMIC’s Legislator of the Year

September 18, 2006 WASHINGTON (Sept. 18, 2006) – This morning, Rep. Richard Baker, R-La., Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, was named “Legislator of the Year” by the National Associati... Read more

Personal Lines Rating Framework Group Exposes Draft White Paper

September 15, 2006 The Personal Lines Market Regulatory Framework (EX) Working Group met on Saturday morning in St. Louis and introduced a draft white paper entitled "Personal Lines Regulatory Framework." The white paper, developed primarily by NAIC staff and based, in pa... Read more

NAMIC President Charles Chamness Comments on Resignation of PCI President Ernie Csiszar

September 14, 2006 INDIANAPOLIS (September 14, 2006)—Charles M. Chamness, president and CEO of the National Association of Mutual Insurance Companies (NAMIC), issued the following statement today regarding the resignation of Ernie Csiszar as president and CEO of the Prope... Read more

NAMIC President/CEO Testifies Before House Subcommittee on Stabilizing Insurance Markets for Coastal Consumers

September 13, 2006 WASHINGTON (Sept. 13, 2006)—Congress can play a constructive role in assisting the private market to ensure that the nation’s homeowners and insurers are prepared for the next major natural catastrophe, said a National Association of Mutual Insurance Co... Read more

Florida: Judge Rules for Insurers in On-Going Legal Challenge to Credit Rule

September 7, 2006 In a victory for insurers, a Florida administrative law judge ruled Sept. 5 that the state's Office of Insurance Regulation (OIR) does not have the authority to begin enforcing a rule governing insurers’ use of credit information when that rule is still... Read more

NAMIC Convention Program Spotlights Emerging Public Policy Issues

August 25, 2006 INDIANAPOLIS (Aug. 25, 2006) – The 111th Annual Convention of the National Association of Mutual Insurance Companies (NAMIC) will feature two panel discussions focusing on issues of central importance to insurers, regulators, and consumers. The first se... Read more

Trials Lawyers Off-Base on Katrina Charges, Industry Trades Claim

August 22, 2006 TALLAHASSEE, FL--The Florida Insurance Council (FIC), joined by the three national property and casualty trade associations, find that the report released today by the Academy of Florida Trial Attorneys, entitled “Pattern of Greed” to be totally without... Read more

NAMIC Comments on Leonard V. Nationwide Mutual Insurance Company Decision in Mississippi

August 15, 2006 INDIANAPOLIS (August 15, 2006) – The National Association of Mutual Insurance Companies (NAMIC) released the following statement today in reaction to the decision by U.S. District Court Judge L.T. Senter, Jr. in the civil case of Leonard v. Nationwide M... Read more

NAMIC Announces Major Reorganization of its Governmental Affairs Operation

July 26, 2006 INDIANAPOLIS (July 26, 2006) -- The National Association of Mutual Insurance Companies (NAMIC) today announced a major reorganization of its governmental affairs operation, recognizing the convergence of issues facing the property/casualty insurance ind... Read more

NAMIC Speaks Before Treasury Department’s President’s Working Group - Outlines NAMIC TRIA Statements of Principles

July 25, 2006 WASHINGTON (July 25, 2006)—The National Association of Mutual Insurance Companies (NAMIC) spoke last Friday before the Presidential Working Group on Financial Services (President’s Working Group) at the Department of Treasury to come up with a long term... Read more

NAMIC Praises NCOIL for Passage of Building Code, Disaster Mitigation Resolution

July 24, 2006 INDIANAPOLIS (July 24, 2006) – An official of the National Association of Mutual Insurance Companies (NAMIC) today commended the National Conference of Insurance Legislators (NCOIL) for adopting a resolution in support of statewide building codes and or... Read more

Ohio: NAMIC Commends Governor, Legislature for Farm Mutual Modernization Legislation

July 19, 2006 INDIANAPOLIS (July 19, 2006) – Ohio Gov. Bob Taft recently signed legislation which includes provisions benefiting farm mutual insurance companies and their policyholders, according to the National Association of Mutual Insurance Companies (NAMIC). Hous... Read more

South Dakota Attorney General’s Explanation of Amendment E is ‘Neutral and Accurate,’ say National Insurance Trades

July 14, 2006 INDIANAPOLIS, July 14, 2006 – The American Insurance Association (AIA) and the National Association of Mutual Insurance Companies (NAMIC) said today that South Dakota Attorney General Larry Long’s official explanation of a proposed constitutional amendm... Read more

Rhode Island: NAMIC Commends Governor for Recognizing Flaws in Security Breach Legislation

July 14, 2006 INDIANAPOLIS (July 14, 2006) – Rhode Island Governor Donald L. Carcieri is to be commended for recognizing the many serious flaws in an onerous and unwarranted security breach bill that he vetoed this week, according to the National Association of Mutua... Read more

Proposed NAIC Rate, Form Model Draft Represents ‘Step Backwards,’ NAMIC Official Asserts

July 13, 2006 INDIANAPOLIS (July 13, 2006) – An official of the National Association of Mutual Insurance Companies (NAMIC) said today that a proposed rate and form filing draft being circulated by a National Association of Insurance Commissioners (NAIC) Working Group... Read more

NAMIC Testifies Before Senate Banking Committee on Insurance Regulation Reform

July 11, 2006 WASHINGTON (July 11, 2006)—The National Association of Mutual Insurance Companies (NAMIC) is convinced that insurance regulatory reform at the state level is the best and safest course for consumers and insurers alike, said a NAMIC witness in testimony ... Read more

NAMIC Testifies Before House Subcommittee on Natural Catastrophes and the Housing Market

June 28, 2006 WASHINGTON (June 28, 2006)—Congress can play a constructive role in assisting the private market to ensure that the nation’s homeowners are prepared for the next major natural catastrophe said a National Association of Mutual Insurance Companies (NAMIC)... Read more

NAMIC Skewers Consumer Reports ‘Investigation’ of Credit-Based Insurance Scoring

June 28, 2006 INDIANAPOLIS (June 28, 2006) – An article in the August 2006 issue of Consumer Reports that purports to reveal a dark “secret” about automobile insurance premiums actually misleads consumers, according to Neil Alldredge, NAMIC senior director of state a... Read more

House Passes National Flood Insurance Reform

June 27, 2006 WASHINGTON (June 27, 2006) — The National Association of Mutual Insurance Companies (NAMIC) commends the House of Representatives for seeking swift action to reform the National Flood Insurance Program (NFIP). By a vote of 416-4 today, the House overwhe... Read more

NAMIC Board Adopts Statement of Principles on Natural Disasters

June 26, 2006 INDIANAPOLIS (June 26, 2006) – The National Association of Mutual Insurance Companies (NAMIC) announced today that its board of directors has adopted a statement of principles on natural disasters. “This new public policy statement represents the culmin... Read more

NAMIC Launches New Public Policy Publication Focused on Insurance Politics

June 22, 2006 Indianapolis (June 22, 2006) – The National Association of Mutual Insurance Companies (NAMIC) announced today that it has launched a new public policy publication, NAMIC Review of Insurance Politics, that seeks to “illuminate the intersection of insuran... Read more

New Jersey: Underwriting Freedom Necessary for Insurance Markets to Work Properly, NAMIC Tells Senate Panel

June 14, 2006 INDIANAPOLIS (June 14, 2006)— Insurers need to be free to engage in the fundamental function of underwriting in order for insurance markets to work properly, which ultimately benefits consumers and society in general, a NAMIC representative told New Jer... Read more

NAIC Sarbanes-Oxley Proposal Faces Uphill Battle in the States

June 12, 2006 NAMIC will continue to advocate against the measure (Washington, D.C. June 12, 2006)--In a plenary session held Sunday at its summer national meeting, the National Association of Insurance Commissioners (NAIC) voted to approve a proposal to apply elemen... Read more

Governor Bush Vetoes No-Fault (PIP) Legislation; NAMIC Advocated for Veto

May 31, 2006 INDIANAPOLIS (May 31, 2006)—An official of the National Association of Mutual Insurance Companies (NAMIC) today called Florida Gov. Jeb Bush a “courageous leader” after he vetoed the bill that would have extended the sunset of the state’s no-fault insur... Read more

Senate Banking Committee Strengthens National Flood Insurance Program

May 25, 2006 WASHINGTON (May 25, 2006)—The National Association of Mutual Insurance Companies (NAMIC) commends Senate Banking Chairman Richard Shelby, R-Ala., and Ranking Member Paul Sarbanes, D-Md., for seeking swift action to reform the National Flood Insurance Pr... Read more

Illinois Supreme Court Upholds Insurance Contract Law

May 18, 2006 NAMIC Filed Amicus in Timely Claims Notice Case INDIANAPOLIS (May 18, 2006)— The Illinois Supreme Court upheld insurance contract law ruling today in a case dealing with the issue of timely notice to an insurer of a claim or lawsuit, according to the Na... Read more

NAMIC Urges Gov. Bush to Veto Bill Extending No-Fault

May 18, 2006 INDIANAPOLIS (May 18, 2006)—The National Association of Mutual Insurance Companies (NAMIC) urged Florida Gov. Jeb Bush to veto a bill that would extend the sunset provision of Florida’s current no-fault auto insurance law to Jan. 1, 2009. NAMIC Senior S... Read more

Vermont Lawmakers Pass Bill Making Insurance Fraud a Specific Crime

May 17, 2006 NAMIC Supported the Legislation INDIANAPOLIS (May 17, 2006) — Vermont lawmakers have approved industry-supported legislation to make insurance fraud a specific crime. Passage of the bill (H-150), which is expected to be signed by Gov. Jim Douglas, is th... Read more

NAIC Committee Further Softens SOX Content in Model Audit Regulation, Postpones Vote

May 12, 2006 INDIANAPOLIS (May 12, 2006)—A bundle of changes caused an NAIC panel with key importance in progression of the NAIC’s Model Audit Regulation to postpone a planned vote that would have advanced the model to a superior committee. Content in the model deri... Read more

Connecticut Legislature Approves Improved Flex-Rating Bill

May 2, 2006 INDIANAPOLIS (May 2, 2006)—Connecticut lawmakers have taken a meaningful step forward in modernizing the state’s insurance regulatory environment by passing a bill to introduce flex-rating to the state’s personal lines markets. The state’s House of Repr... Read more

Financial Reporting Model Based on SOX Unjustified, Says NAMIC

April 24, 2006 INDIANAPOLIS (April 24, 2006)-State regulators considering an "alternate proposal" for internal accounting control have failed to heed the caution from U.S.Representatives Michael Oxley and Richard Baker that any extension of the Sarbanes-Oxley Act of 2... Read more

Legislator Group Approves Measure to Strengthen State Regulation

April 24, 2006 ALEC Model Act Would Halt ‘Judicial Usurpation’ of Insurance Regulatory Authority INDIANAPOLIS (April 24, 2006)—A key committee of the American Legislative Exchange Council (ALEC) has approved a model law designed to limit the ability of trial lawyers t... Read more

IRS/Treasury Adopt NAMIC Position on Gross Receipts

April 24, 2006 WASHINGTON (April 24, 2006)—The National Association of Mutual Insurance Companies (NAMIC) welcomes the IRS/Treasury Department’s ruling released late last Friday providing much-needed guidance on the definition of “gross receipts” for non-life insuranc... Read more

Maine: NAMIC-drafted UM Correction Legislation Signed by Governor

April 18, 2006 INDIANAPOLIS (April 18, 2006)—In a major victory for Maine insurers, legislation drafted by the National Association of Mutual Insurance Companies (NAMIC) aimed at correcting a Maine Supreme Judicial Court decision hindering insurers’ ability to limit t... Read more

NAMIC Statement in Response to Comments Made by Mississippi Attorney General Jim Hood

April 17, 2006 INDIANAPOLIS (April 17, 2006)—The National Association of Mutual Insurance Companies (NAMIC) issues the following statement in response to comments made by Mississippi Attorney General Jim Hood at a luncheon sponsored by the Capitol press corps and Miss... Read more

Alaska Unfair Claim Settlement Bill Would Undermine Insurance Commissioner’s Authority, Says NAMIC

April 17, 2006 INDIANAPOLIS (April 17, 2006)—A bill to change Alaska’s insurance settlement practices, “is unnecessary, would likely cause insurance rates to increase, would unreasonably usurp the Insurance Commissioner’s regulatory prerogative and could lead to the f... Read more

NAMIC Joins Board of Directors of Advocates for Highway and Auto Safety (Advocates)

April 14, 2006 Washington, D.C. - The National Association of Mutual Insurance Companies (NAMIC) and Advocates for Highway and Auto Safety (Advocates) announced today that NAMIC is now a voting insurance member on the Board of Directors of Advocates. Advocates' Board ... Read more

Federal Judge Holds Insurer’s Water Damage Exclusion Valid and Enforceable

April 13, 2006 The American Insurance Association (AIA), the National Association of Mutual Insurance Companies (NAMIC), and the Property Casualty Insurers Association of America (PCI) today responded to the April 11 ruling by the U.S. District Judge for the Southern ... Read more

NAMIC Pleased California Auto Repair Bill Modified for Study

April 10, 2006 INDIANAPOLIS (April 7, 2006)-In the wake of stiff industry opposition, a California proposal that would have have impeded consumer access to affordable auto repairs has been sufficiently mitigated for now, said a spokesperson for the National Associatio... Read more

NAMIC Opposes Consumer-Funded Elections for CA Insurance Commissioner

April 10, 2006 INDIANAPOLIS (April 7, 2006)-The National Association of Mutual Insurance Companies (NAMIC) has opposed a California bill that would require insurers, and ultimately their consumers, to pay for the political campaigns of candidates seeking the office of... Read more

Cameron’s Osborn to Chair NAMIC State Issues Panel

April 7, 2006 INDIANAPOLIS (April 7, 2006) — The National Association of Mutual Insurance Companies (NAMIC) has selected a veteran insurance executive to chair its state advocacy committee. Kent Osborn, treasurer of Cameron Mutual Insurance in Cameron, Missouri, has ... Read more

Simplification of Extra-Contractual Obligations Proposal Meets Approval of NAMIC

April 6, 2006 INDIANAPOLIS (April 6, 2006)—The decision to scale back a proposal for insurers to detail extra-contractual obligations is a “reasonable resolution of an unneeded proposal,” a spokesperson for the National Association of Mutual Insurance Companies (NAMI... Read more

NAMIC Opposes Optional Federal Charter

April 5, 2006 WASHINGTON (April 5, 2006)—The National Association of Mutual Insurance Companies (NAMIC) announced its strong opposition to the federal regulation of the property/casualty insurance industry under the so-called “optional federal charter” proposal that ... Read more

Auto Insurance-Related Bills Dominate 2005 Legislation Enactments, Annual NAMIC State Laws Survey Shows

March 31, 2006 INDIANAPOLIS (March 31, 2006)—Automobile insurance-related issues continued to dominate legislative enactments in 2005, according to an analysis by the National Association of Mutual Insurance Companies (NAMIC). State Affairs Director Neil Alldredge sai... Read more

NAMIC Joins Broad Illinois Coalition Opposing Trial Lawyer Windfall Legislation

March 30, 2006 INDIANAPOLIS (March 30, 2006)—The National Association of Mutual Insurance Companies (NAMIC) has joined a coalition of Illinois businesses and insurers that strongly oppose State Senate Bill 1911 after a negative trial lawyer amendment was adopted by th... Read more

NAMIC Urges Mississippi Governor to Sign Building Code Legislation

March 30, 2006 INDIANAPOLIS (March 30, 2006) – The National Association of Mutual Insurance Companies (NAMIC) today urged Mississippi Gov. Haley Barbour to sign into law a bill that would require five of the state’s most southerly counties to enact emergency building ... Read more

Ruling by Federal Judge Suggests Flood Exclusion is Valid and Enforceable

March 29, 2006 The American Insurance Association (AIA), the National Association of Mutual Insurers (NAMIC), and the Property Casualty Insurers Association of America (PCI) have issued the following statement in response to a recent ruling by the U.S. District Court ... Read more

NAMIC Calls For Federal Terrorism Backstop With Broad Insurer Risk Sharing

March 29, 2006 INDIANAPOLIS (March 29, 2006)— A long-term solution for managing terrorism risk must include a permanent role for the federal government and be structured to encourage broad participation by small and medium sized companies, a spokesperson for the Natio... Read more

Idaho Proposal to Double Automatic Award of Attorney’s Fees Harmful to Consumers, Says NAMIC

March 22, 2006 INDIANAPOLIS (March 22, 2006)— Legislation pending in Idaho to increase the monetary threshold for an automatic award of attorney's fees by 100 percent in civil actions would be harmful to consumers, according to a spokesman for the National Association... Read more

Not Enough ‘Flex’ in Connecticut Flex Rating Bill, Says NAMIC

March 20, 2006 INDIANAPOLIS (March 20, 2006)—A Connecticut legislative committee took a tentative step on the road to insurance rate modernization, but also posted a Road Closed sign that must be obeyed in two years. HB-5463, which was reported favorably out of the In... Read more

NAMIC Opposes South Dakota Judicial Ballot Initiative

March 20, 2006 INDIANAPOLIS (March 20, 2006)—The National Association of Mutual Insurance Companies (NAMIC) will work with a broad-based coalition in South Dakota to defeat a statewide judicial ballot initiative on the November ballot that would allow citizens to brin... Read more

Tough Session Ends with Significant Victories for NAMIC Members and Industry

March 16, 2006 INDIANAPOLIS (March 16, 2006)—The session wasn’t easy or pretty for insurers, but the 2006 Indiana General Assembly concluded at midnight Tuesday with significant successes for NAMIC and the insurance industry as a whole, reports Tami Stanton, NAMIC’s c... Read more

House Financial Services Committee Increases NFIP Borrowing Authority

March 16, 2006 WASHINGTON (March 16, 2006)—The National Association of Mutual Insurance Companies (NAMIC) commends Chairman Michael G. Oxley, R-Ohio, and the House Financial Services Committee for seeking swift action to increase the National Flood Insurance Program’s... Read more

NAMIC Launches E-Learning Publications

March 15, 2006 First Products Include Agricultural Risk Inspection, Underwriting INDIANAPOLIS (March 15, 2006) - The National Association of Mutual Insurance Companies (NAMIC) has released two new online technical publications for farm underwriting and loss prevention... Read more

Need to Sunset Florida No-Fault Law Confirmed by New Reports, Says NAMIC

March 14, 2006 INDIANAPOLIS (March 14, 2006)—Reports recently released by two nationally recognized insurance research organizations underscore the argument that Florida’s current no-fault auto insurance law is not working and should be allowed to sunset, says an offi... Read more

NAMIC Urges Virginia Governor to Sign Towing and Recovery Operators Legislation

March 14, 2006 INDIANAPOLIS (March 14, 2006)—The National Association of Mutual Insurance Companies (NAMIC) has asked Virginia Gov. Timothy M. Kaine to sign into law Senate Bill 134, a bill that establishes new standards and procedures for towing and recovery operator... Read more

Multi-State Class Actions Could Infringe on State Regulators’ Authority, Interfere with Claims Adjudication, Says NAMIC

March 10, 2006 INDIANAPOLIS (March 10, 2006)—The National Association of Mutual Insurance Companies (NAMIC) has joined other members of the insurance industry in filing an Amici Curiae brief involving a multi-state class action appeal currently before the Washington S... Read more

NAMIC Support Helps Indiana Farm Mutual Tax Bill Pass

March 6, 2006 INDIANAPOLIS (March 6, 2006)—The farm mutual tax bill introduced by NAMIC and MICAI (Mutual Insurance Companies Association of Indiana) passed the Indiana General Assembly last Wednesday, March 1st. NAMIC and MICAI worked together to address a mistake m... Read more

Colorado Supreme Court Decides Negligent Hiring Case

March 3, 2006 INDIANAPOLIS (March 3, 2006)—The National Association of Mutual Insurance Companies (NAMIC) joined other industry members in an amicus brief to Colorado’s Supreme Court arguing that an employer is not liable under the tort of negligent hiring for injuri... Read more

NAMIC Supports Sunset of No-Fault Auto Insurance Law as Florida Legislature Convenes

March 3, 2006 INDIANAPOLIS (March 3, 2006)—The National Association of Mutual Insurance Companies (NAMIC) has taken a position on one of two major insurance bills that Florida lawmakers will face when they convene Tuesday, a NAMIC spokesperson said today. Senior Stat... Read more

Insurance Regulatory Reform, Asbestos Reform Top NAMIC’s 2006 Federal Affairs Agenda

March 1, 2006 WASHINGTON (March 1, 2006)—The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States – has set it... Read more

Gubernatorial Primaries Could Hold Surprises

March 1, 2006 INDIANAPOLIS (March 1, 2006)—The 36 gubernatorial primaries taking place across the country this year could produce some surprising results, according to a preliminary analysis conducted by the National Association of Mutual Insurance Companies (NAMIC).... Read more

New Mexico Legislators Adjourn on Quiet Note for Industry, Says NAMIC

February 22, 2006 INDIANAPOLIS (Feb. 22, 2006)— New Mexico’s 30-day legislative session, which ended Thursday, was predominantly focused upon budget related legislation, but a few insurance related bills were introduced, according to the National Association of Mutual In... Read more

Problems Averted Prior to Louisiana Special Session Adjournment, says NAMIC

February 20, 2006 INDIANAPOLIS (Feb. 20, 2006)—A representative of the National Association of Mutual Insurance Companies (NAMIC) has expressed her organization’s relief that the Louisiana legislature addressed onerous provisions in two bills before sine die adjournment ... Read more

Proposed Colorado Consumer Insurance Board Unnecessary Taxpayer Burden, Says NAMIC

February 13, 2006 INDIANAPOLIS (Feb. 13, 2006)—The National Association of Mutual Insurance Companies (NAMIC) will oppose legislation in Colorado creating a Consumer Insurance Board, calling it “a redundant and inappropriate use of state revenue.” 118 NAMIC member compan... Read more

Significant Insurance Initiatives Survive Indiana Legislature Crossover, Reports NAMIC

February 9, 2006 INDIANAPOLIS (Feb. 9, 2006)—As the Indiana General Assembly begins the second half of its 2006 session, the National Association of Mutual Insurance Companies (NAMIC) reports that a number of very important positive insurance bills remain under consider... Read more

NAMIC Opposes NAIC as Industry Database Czar

February 8, 2006 INDIANAPOLIS (Feb. 8, 2006)—The National Association of Mutual Insurance Companies (NAMIC) questions the trend by the National Association of Insurance Commissioner (NAIC) create new insurance industry databases. “The proliferation of NAIC databases und... Read more

Colorado: Mandatory Medical Payment Offer Would Confuse Consumers, Says NAMIC

February 3, 2006 INDIANAPOLIS (Feb. 3, 2006)—The National Association of Mutual Insurance Companies (NAMIC) in conjunction with members of the insurance industry, opposes legislation that would require auto insurers to offer medical payment coverage (HB 1036, Concerning... Read more

NAMIC to NAIC: ‘Alternate SOX Proposal Still Too Much’

February 1, 2006 INDIANAPOLIS (Feb. 1, 2006)—An alternate proposal to impose Sarbanes Oxley Act provisions on mutual insurers, “errs in applying to mutual insurers costly and burdensome internal accounting control measures not demonstrated to preclude or materially redu... Read more

NAMIC Encourages Commercial Lines Rate Modernization in New Mexico

February 1, 2006 INDIANAPOLIS (Feb. 1, 2006)—The National Association of Mutual Insurance Companies (NAMIC) and the insurance industry are working with the New Mexico Public Regulation Commission to finalize and implement proposed rate regulations that would convert the... Read more

Several Insurance-Related Bills Survive Mississippi Committee Deadline, NAMIC Analysis Finds

February 1, 2006 INDIANAPOLIS (Feb. 1, 2006)—Several bills of interest to the insurance industry were reported out of their committees of origin, surviving Tuesday’s deadline that saw more than 1,700 bills die in the Mississippi Legislature, a bill analysis done by the ... Read more

Hurricane Katrina is Most Visited News Story on NAMIC Online in 2005

January 30, 2006 INDIANAPOLIS (Jan. 30, 2006)—Hurricane Katrina’s aftermath dominated the attention of visitors to the National Association of Mutual Insurance Companies website in 2005. Tort reform, the Sarbanes-Oxley Act, and credit-based insurance scoring also captur... Read more

NAMIC Aids Indiana Farm Mutual Tax Relief Proposal Progress

January 27, 2006 INDIANAPOLIS (Jan. 27, 2006)—The National Association of Mutual Insurance Companies (NAMIC) and the Mutual Insurance Companies Association of Indiana (MICAI) are working to address a mistake in Indiana’s 2002 tax code revision which erroneously raised t... Read more

Colorado Emergency Responders, Trauma Care Reimbursement Amendment ‘Reasonable and Pragmatic,’ Says NAMIC

January 27, 2006 INDIANAPOLIS (Jan. 27, 2006)— The National Association of Mutual Insurance Companies (NAMIC) will support a Colorado proposal to eliminate a requirement that auto insurance customers purchase compulsory coverage to pay for emergency medical care service... Read more

Initiative Claiming to ‘Stop Insurance Company Abuses’ Would Stop Market Competition, Harm Consumers, says NAMIC

January 26, 2006 INDIANAPOLIS (Jan. 26, 2006)—The nation’s largest property/casualty trade association has blasted a proposed ballot initiative to regulate insurance in California, calling it a “stunningly misguided proposal.” Late last week, self-styled consumer advoca... Read more

NAMIC Applauds Banking Committee Hearing on NFIP Reform Proposals

January 25, 2006 WASHINGTON (Jan. 25, 2006)—The National Association of Mutual Insurance Companies (NAMIC) commends Chairman Richard C. Shelby, R-Ala., and the Senate Banking, Housing and Urban Affairs Committee for holding a hearing this morning on “Proposals to Reform... Read more

Proposed Calif. Reinsurance Regulations Could Hinder Insurer Handling of Catastrophe Claims, Say National and State Advocates

January 24, 2006 INDIANAPOLIS (Jan. 24, 2006)—New reinsurance regulations proposed by the California Department of Insurance (CDI) are “unnecessary, burdensome and anti-market competition,” according to comments filed by three primary insurance trade associations for CD... Read more

Colorado Third-Party Claims Practices Bill Would Harm Not Help, Says NAMIC

January 20, 2006 INDIANAPOLIS (Jan. 20, 2006)—The National Association of Mutual Insurance Companies (NAMIC) will oppose a Colorado bill on third-party claims practices on both legal and public policy grounds. "Concerning Claims Practices for Bodily Injury to a Third-Pa... Read more

Colorado Bill Will Increase Number of Uninsured Drivers, Asserts NAMIC

January 19, 2006 INDIANAPOLIS (Jan. 19, 2006)—The National Association of Mutual Insurance Companies (NAMIC) will oppose a Colorado bill that would mandate emergency medical care coverage because it will increase the number of uninsured drivers, increase rates, and adve... Read more

NAMIC Takes Issue with NAIC Fingerprint Model Act

January 10, 2006 INDIANAPOLIS (Jan. 10, 2006)—The National Association of Mutual Insurance Companies (NAIC) has told the National Association of Insurance Commissioners (NAIC) that it is opposed to the regulators’ proposed fingerprint model law because of the model’s co... Read more

Compulsory ‘All-Perils’ Coverage Would Worsen Disaster Insurance Problems

January 9, 2006 NAMIC Comments on Regulators’ Proposed National Program for Insuring Catastrophic Risk INDIANAPOLIS (Jan. 9, 2006)—A “Natural Catastrophe Risk Plan” drafted by the National Association of Insurance Commissioners (NAIC) has the potential to “damage priva... Read more

NAMIC Supports Dedicated Fraud Unit in Maine Bureau of Insurance

January 4, 2006 INDIANAPOLIS (Jan. 4, 2006)—The National Association of Mutual Insurance Companies (NAMIC) has endorsed the conclusion of the Maine Bureau of Insurance that the “time is right” for the creation of a dedicated insurance fraud unit within the Bureau. In a... Read more

Rate Modernization Initiatives Likely in Six States This Year, NAMIC Legislative Preview Shows

January 2, 2006 INDIANAPOLIS (Jan. 2, 2006)—At least six states are likely to advance rate modernization initiatives this year, a legislative preview prepared by the National Association of Mutual Insurance Companies (NAMIC) reveals. NAMIC Senior State Advocacy Directo... Read more

NAMIC Congratulates President, Congress for Extending TRIA

December 22, 2005 WASHINGTON (Dec. 22, 2005)—The National Association of Mutual Insurance Companies (NAMIC) congratulates President Bush and the Administration for extending TRIA for two additional years beyond its Dec. 31, 2005, sunset. “By signing this bill into public... Read more

NAMIC Unveils New Legislative and Regulatory Information Service

December 21, 2005 INDIANAPOLIS (Dec. 21, 2005)—The National Association of Mutual Insurance Companies (NAMIC) has inaugurated an upgraded legislative and regulatory tracking service for its member companies. LARIS (for Legislative and Regulatory Information Service) is p... Read more

NAMIC Extols House/Senate Extension of TRIA

December 17, 2005 Bill Now on its Way to President WASHINGTON, D.C. (Dec. 17, 2005) – Tonight, the National Association of Mutual Insurance Companies (NAMIC) congratulated the House of Representatives for passing the TRIA extension. “NAMIC is gratified that the extension... Read more

NAMIC Commends Senate Passage of TRIA

December 16, 2005 House Expected to Take Action Before Congress Wraps Up for Year WASHINGTON, D.C. (Dec. 19, 2005) – The National Association of Mutual Insurance Companies (NAMIC) commends the House and Senate for reaching a compromise Friday on TRIA, leading the Senate ... Read more

NAMIC Proposal to Correct Maine UM Decision Cited as Straightforward Approach

December 12, 2005 INDIANAPOLIS (Dec. 12, 2005)—Maine’s Bureau of Insurance characterized NAMIC-drafted legislation to correct a Maine Supreme Judicial Court decision regarding mandated uninsured motorist coverage as the most “straightforward” approach in a recent report.... Read more

NAIC Drops CLUE Model Law Initiative, Enthusiasm Fades Says NAMIC

December 12, 2005 INDIANAPOLIS (Dec. 12, 2005)—The National Association of Mutual Insurance Companies (NAMIC) welcomed the decision to do no further work on a model law regulating the use of claims databases for underwriting purposes, reached by the by the Market Regulat... Read more

NAMIC Board Rejects Alternate SOX Extension Proposal

December 7, 2005 INDIANAPOLIS (Dec. 7, 2005)—The National Association of Mutual Insurance Companies (NAMIC) will oppose an amended regulator proposal to add federally-styled internal control measures to state insurance regulation, according to its president. NAMIC Presi... Read more

House of Representatives Passes TRIA Extension Bill

December 7, 2005 WASHINGTON (Dec. 7, 2005)—Today, legislation extending for two years the 2002 Terrorism Risk Insurance Act, or TRIA (PL 107-297) was placed on the suspension calendar and brought to the floor of the House of Representatives where it passed by a 371-49 m... Read more

Stress Personal Responsibility, Guard Against New Mandates, NAMIC Tells Regulators

December 4, 2005 CHICAGO (Dec. 4, 2005)—A senior spokesperson for the nation’s largest property/casualty insurance trade has strongly urged regulators to increase their focus on personal responsibility and to resist efforts that would add new underwriting requirements. ... Read more

NAMIC Files Amicus in Illinois Timely Claims Notice Case

December 1, 2005 INDIANAPOLIS (Dec. 1, 2005)—The National Association of Mutual Insurance Companies (NAMIC) joined with the Illinois Insurance Association Nov. 22 to file an amicus brief in a case dealing with the issue of timely notice to an insurer of a claim or lawsu... Read more

Study on Cost Impact of New Jersey Court Ruling Shows Need for Legislation, Says NAMIC

December 1, 2005 INDIANAPOLIS (Dec. 1, 2005)—A new actuarial study concluding that a New Jersey Supreme Court ruling will substantially increase costs for drivers that choose no fault coverage shows there is a significant need for legislation to correct the decision, ac... Read more

Colorado Bill Would Mandate Unnecessary, Duplicative Coverage, Asserts NAMIC

November 30, 2005 INDIANAPOLIS (Nov. 30, 2005)—A bill mandating that emergency medical care coverage be included in all automobile insurance policies was approved Nov. 17 for possible introduction during Colorado’s 2006 legislative session. The Legislative Council Commit... Read more

NAMIC Announces State Advocacy Resources

November 28, 2005 INDIANAPOLIS (Nov. 28, 2005)—The National Association of Mutual Insurance Companies (NAMIC) has set its team of State Affairs Managers (SAM) for the coming legislative season. Five regional SAMs are in place and will address legislation to be introduced... Read more

‘Single Private Insurer’ for Oregon’s Construction Liability Coverage Concerns NAMIC

November 22, 2005 INDIANAPOLIS (Nov. 22, 2005)— Oregon’s Construction Claims Task Force (CCTF) has yet to address the disadvantages to consumers of designating a "single private insurer" to provide liability insurance coverage for the construction industry, according to ... Read more

Governor Taft Signs Security Breach Bill: NAMIC Comments

November 22, 2005 INDIANAPOLIS (Nov. 22, 2005)—Continuing a national public policy trend, Ohio Gov. Bob Taft has signed into law a bill requiring notification of security breaches, the National Association of Mutual Insurance Companies (NAMIC) has reported. “Gov. Taft’s ... Read more

NAMIC Urges Louisiana Legislature to Enact a Statewide Building Code

November 22, 2005 INDIANAPOLIS (Nov. 22, 2005)—The National Association of Mutual Insurance Companies (NAMIC) has voiced its strong support for the passage of building code legislation during the final days of the Louisiana Legislature’s special session. Central Region S... Read more

U.S. Corporate Governance Reforms Could Sacrifice Performance, NAMIC President Tells International Mutual Insurer Conference

November 22, 2005 INDIANAPOLIS (Nov. 22, 2005)—Speaking to an international group of mutual insurers, the president of the National Association of Mutual Insurance Companies (NAMIC) expressed concern that the U.S. public policy focus on improving corporate control and ac... Read more

House Financial Services Committee Approves NFIP Increase

November 17, 2005 WASHINGTON (Nov. 17, 2005)—House Financial Services Committee Chairman Michael G. Oxley, R-Ohio, and Ranking Member Barney Frank, D-Mass., introduced H.R. 4320, the National Flood Insurance Program Commitment to Policyholders and Reform Act of 2005, on ... Read more

Senate Banking, House Financial Services Committees Approve TRIA Extension Legislation

November 16, 2005 WASHINGTON (Nov. 16, 2005)—The Senate Banking Committee and House Financial Services Committee marked up legislation today to extend the Terrorism Risk Insurance Act (TRIA) for two years. TRIA was enacted into law (PL 107-297) after the September 11 ter... Read more

NAMIC Member Companies Donate Nearly $1.4 Million to Victims of Hurricane Katrina

November 15, 2005 INDIANAPOLIS (Nov. 15, 2005) – Soon after Hurricane Katrina caused catastrophic damage in the southern United States, NAMIC invited member companies and their employees interested in helping those in need to make contributions to the American Red Cross ... Read more

NAMIC Online Realigned to Better Serve Members and Visitors

November 9, 2005 INDIANAPOLIS (Nov. 9, 2005)—The National Association of Mutual Insurance Companies (NAMIC) has unveiled the latest version of its award-winning website, NAMIC Online, featuring simplified site navigation, streamlined page layouts and realigned presentat... Read more

NAIC Committee Drops Full SOX; NAMIC Opposes Alternate Proposal for Accounting Control

November 9, 2005 INDIANAPOLIS (Nov. 9, 2005)—Following Tuesday’s unanimous vote by insurance regulators to withdraw their original proposal intended to transfer the complete internal control framework of Sarbanes-Oxley to state insurance regulation, the National Associa... Read more

NAMIC Commends Chairman Shuster for Holding Hearings on Legislative Proposals in Response to Hurricane Katrina

November 8, 2005 INDIANAPOLIS (Nov. 8, 2005)— The National Association of Mutual Insurance Companies (NAMIC) reports that last week Subcommittee on Economic Development, Public Buildings and Emergency Management Chairman Bill Shuster, R-Pa., held a hearing to discuss po... Read more

NAMIC Questions NAIC Budget for ‘Fingerprint Repository’

November 4, 2005 INDIANAPOLIS (Nov. 4, 2005)—The National Association of Mutual Insurance Companies (NAMIC) questioned on Thursday the procedures used to tentatively approve funds intended for an insurance producer “fingerprint repository,” asking whether the project sh... Read more

NAMIC Applauds Passage of Tort Reform Bill

October 27, 2005 WASHINGTON (October 27, 2005)—The National Association of Mutual Insurance Companies (NAMIC) Senior Vice President of Federal Affairs David A. Winston today released the following statement applauding House passage of H.R. 420, the Lawsuit Abuse Reducti... Read more

NAMIC Bases Legislative and Regulatory Advocate in Northeast

October 20, 2005 INDIANAPOLIS (Oct. 20, 2005)—Paul T. Tetrault will represent the National Association of Mutual Insurance Companies (NAMIC) as state affairs manager for the Northeast United States from a base near Boston. Tetrault, an attorney and former editor of The ... Read more

NAMIC Leader Lauds Links to State Insurance Trades

October 17, 2005 SAVANNAH, GA. (Oct. 17, 2005)—The president of the nation’s largest property/casualty organization told a group of state insurance trade executives here today that their work makes them invaluable partners in the achievement of industry objectives. Char... Read more

NAMIC Welcomes Ten New Members

October 14, 2005 INDIANAPOLIS, INDIANA (October 14, 2005) – The board of directors of The National Association of Mutual Insurance Companies (NAMIC) welcomed ten new members during the board’s quarterly meeting in Phoenix, Ariz. “These new members add even more depth to... Read more

NAMIC Says Granholm’s Proposal will Hurt Michigan’s Economy

October 12, 2005 INDIANAPOLIS (Oct. 12, 2005)––The National Association of Mutual Insurance Companies (NAMIC) opposes a package of 14 bills unveiled Monday by Michigan Gov. Jennifer Granholm and legislators, which includes a required 20 percent cut in homeowners and aut... Read more

NAMIC Not Part of Group Submitting Alternate Proposal to NAIC on SOX-Like Internal Control

October 12, 2005 INDIANAPOLIS (Oct. 12, 2005) — Maintaining its position that such measures are unwarranted for mutual insurers, the National Association of Mutual Insurance Companies (NAMIC) was not part of an industry interested parties’ group submitting an alternate ... Read more

NAMIC Joins in Amicus Brief on Florida Valued Policy Law

October 11, 2005 INDIANAPOLIS (Oct. 11, 2005) — The National Association of Mutual Insurance Companies (NAMIC) has joined with State Farm Florida Insurance Company to file an amicus curiae brief in a case involving Florida’s valued policy law. “NAMIC filed a friend of t... Read more

John Donovan Joins Assurance Partners Bank Board of Directors

October 11, 2005 APB Announces Board Members As Bank Expands to Serve Metropolitan DC Market Assurance Partners Bank (APB) of Carmel, Indiana today announced that John J. Donovan, Jr., has been elected to serve as a director. Donovan recently retired from CarrAmerica Re... Read more

Assurance Partners Bank Expands into Metropolitan Washington, D.C. Market; Announces Senior Management Team

October 11, 2005 Assurance Partners Bank (APB) of Carmel, Indiana, today announced the appointment of several members of its senior management team who will help guide its expansion into the Carmel, Indiana and Metropolitan Washington, D.C. markets. APB is owned by the ... Read more

2005 Service Awards Presented to Four at NAMIC Annual Business Meeting

October 5, 2005 PHOENIX, ARIZ. (Oct. 5, 2005) – The 2005 Service Award was presented to four individuals making significant contributions to NAMIC during the association’s annual business meeting. James A. Blum, CPCU, chairman and president of Brotherhood Mutual Insura... Read more

NAMIC Presents Legislator of the Year Award to North Dakota Rep. George Keiser

October 5, 2005 PHOENIX (Oct. 5, 2005) – The National Association of Mutual Insurance Companies (NAMIC) today announced North Dakota State Rep. George Keiser as the recipient of its 2005 Legislator of the Year Award. "Rep. Keiser is a fair, balanced, thoughtful statesm... Read more

Robert A. Wadsworth is 2006 NAMIC Chairman

October 5, 2005 PHOENIX, ARIZ. (Oct. 5, 2005) – Robert A. Wadsworth, CPCU, CIC, president & CEO of Preferred Mutual Insurance Co., New Berlin, N.Y. is the 2005-2006 chairman of the board of the National Association of Mutual Insurance Cos. (NAMIC). Wadsworth announ... Read more

John Fisher Receives 2005 NAMIC Chairman’s Award

October 3, 2005 PHOENIX, ARIZ. (Oct. 3, 2005) – John W. Fisher, retired president of Auto-Owners Group, Lansing, Mich., is the recipient of the highest honor bestowed by the National Association of Mutual Insurance Companies (NAMIC) -- the 2005 Chairman’s Award. Fisher... Read more

Charles Smith is 2005 Professional Farm Mutual Manager of the Year, as 16 New PFMM Designees are Announced

October 3, 2005 PHOENIX, ARIZ. (Oct. 3, 2005) – Charles Smith, PFMM, secretary/manager of Billings Mutual Insurance Co., Billings, Mo., has been named 2005 Professional Farm Mutual Manager of the Year. The award was presented during the NAMIC Farm Mutual Conference bus... Read more

Claims Phone Numbers and Websites for NAMIC’s Texas Insurers

September 23, 2005 INDIANAPOLIS (Sept. 23, 2005)—Texas Policyholders are encouraged to use the following claim contact numbers and websites to report a loss from Hurricane Rita to the following member companies of the National Association of Mutual Insurance Companies (NA... Read more

Public Policy Issues to Highlight NAMIC 110th NAMIC Convention

September 22, 2005 INDIANAPOLIS (Sept. 22, 2005)— Public policy issues will feature prominently at the 110th Annual Convention of the National Association of Mutual Insurance Companies (NAMIC), to be held at the J.W. Marriott Desert Ridge Resort and Spa, in Phoenix, Ariz.... Read more

Another Sarbanes-Oxley Compliance Extension Expected From SEC for Smaller Public Companies

September 19, 2005 INDIANAPOLIS (Sept. 19, 2005)—An SEC advisory committee’s complaints are the foundation of what is expected to be grant by the agency of a second, one-year delay for small, publicly owned companies’ compliance with costly requirements of the Sarbanes-Ox... Read more

NAMIC Statement on Mississippi Litigation Against the Property/Casualty Insurance Industry Since ‘Katrina’

September 16, 2005 INDIANPOLIS (Sept. 16, 2005)––The National Association of Mutual Insurance Companies (NAMIC) today issued the following statement in reaction to lawsuits being brought by Mississippi Attorney General Jim Hood against insurance companies handling claims ... Read more

NAMIC Establishes Relief Fund for Victims of Katrina

September 2, 2005 INDIANAPOLIS (Sept. 2, 2005)—Hurricane Katrina has caused catastrophic damage in the southern United States and it now seems certain that this storm will be the worst natural disaster in U.S. history. The people of Louisiana, Mississippi and Alabama fac... Read more

New Enactments of Self-Audit Privilege Provide Encouragement for Other States; NAMIC Says

August 22, 2005 INDIANAPOLIS (Aug. 22, 2005)—An analysis by the National Association of Mutual Insurance Companies (NAMIC) has praised a new legal standard adopted in both Kansas and Texas this year as an effective tool to balance consumer protection with the business ... Read more

Illinois High Court Overturns Unjust Verdict on Non-OEM Parts, But Case Demonstrates Need for Class Certification Reform, Says NAMIC

August 18, 2005 INDIANAPOLIS (Aug. 18, 2005)––The National Association of Mutual Insurance Companies (NAMIC), the nation’s largest property/casualty trade association, hailed today’s Illinois Supreme Court decision in Avery et al. v. State Farm and called upon lawmaker... Read more

Credit-based Insurance Scoring in Renewal Policy Underwriting Essential for Accuracy, says NAMIC

August 17, 2005 INDIANAPOLIS (Aug. 17, 2005)––The National Association of Mutual Insurance Companies (NAMIC) will testify at an Alaska Division of Insurance (DOI) hearing that, “at renewal, insurance carriers need the flexibility to engage in a total circumstances anal... Read more

NAMIC Encourages Hawaii Legislative Working Group to Adopt Rate Modernization

August 16, 2005 INDIANAPOLIS (Aug. 16, 2005)––The National Association of Mutual Insurance Companies (NAMIC) has told a Hawaii legislative committee that passage of rate modernization laws would benefit state commerce and insurance consumers. In written comments filed ... Read more

Oxley Delivers Latest Blow to SOX for Mutuals, NAMIC Tells Regulators

August 10, 2005 INDIANAPOLIS (Aug. 10, 2005)––Rep. Michael Oxley's recent acknowledgement that SOX is "excessive" in its regulation of public companies is another strike against extending its internal control provisions to mutual insurance companies, according to the N... Read more

NAMIC Says State Actions Render Proposed NAIC Claims History Model ‘Irrelevant’

August 9, 2005 INDIANAPOLIS (Aug. 9, 2005)—Creating a model act to establish a property claim history database would be “irrelevant,” given legislative action that has already occurred in the states wrote the National Association of Mutual Insurance Companies (NAMIC) ... Read more

NAMIC Welcomes Eight New Members

August 1, 2005 INDIANAPOLIS, INDIANA (August 1, 2005) – The board of directors of The National Association of Mutual Insurance Companies (NAMIC) welcomed eight new members during the board’s quarterly meeting in Little Rock, Ark. “These new members are truly reflectiv... Read more

NAMIC Supports Small Company Tax Inflation-Adjustment Legislation

July 29, 2005 WASHINGTON (July 29, 2005)—Sen. Christopher S. "Kit" Bond, R-Mo., introduced legislation today that would amend the Internal Revenue Code of 1986 to enhance tax incentives for small property/casualty insurance companies. S. 1553 would clarify the defini... Read more

California Automotive Repair Dealers Bill Temporarily Stalled, NAMIC Says

July 28, 2005 INDIANAPOLIS (July 28, 2005)—A California bill allowing vehicle owners to authorize their insurer to act on their behalf to arrange automobile repairs to their insured vehicle is, for all practical purposes, in the repair shop until 2006. After a heated... Read more

Terrorism Reinsurance Backstop is Necessary

July 27, 2005 NAMIC tells House Subcommittee that Extension of Federal Terrorism Reinsurance Backstop is Necessary WASHINGTON (July 27, 2005)—Warren Heck, CPCU, chairman and CEO of Greater New York Mutual Insurance Company in New York, N.Y., testified today before th... Read more

Auto ‘Black Box’ Laws Could Pose Underwriting Obstacles, NAMIC Says

July 25, 2005 INDIANAPOLIS (July 25, 2005)—Provisions in laws regulating event data recorders (EDRs or auto “black boxes”) could negatively impact the underwriting prerogatives of auto insurers, the National Association of Mutual Insurance Companies (NAMIC) has concl... Read more

Banking Exemption from SOX Requirements Should Instruct NAIC, Says NAMIC

July 25, 2005 INDIANAPOLIS (July 25, 2005)—A proposal by banking regulators to spare more institutions from the costs and burdens of certain Sarbanes-Oxley Act requirements requires the NAIC to re-think its own proposed internal control regulations, a spokesperson fo... Read more

NAMIC Supports Small Company Tax Inflation-Adjustment Legislation

July 25, 2005 WASHINGTON (July 25, 2005)—Rep. Jim Nussle, R-Iowa, introduced legislation Wednesday that would amend the Internal Revenue Code of 1986 to enhance tax incentives for small property/casualty insurance companies. The National Association of Mutual Insuran... Read more

NAMIC Commends Indiana Insurance Commissioner on Anti-Fraud Task Force

July 15, 2005 INDIANAPOLIS (July 15, 2005)—“NAMIC applauds Commissioner Jim Atterholt’s leadership in creating the Insurance Anti-Fraud Task Force and is pleased to be an active task force participant,” said Tami Stanton, NAMIC State Affairs Manager for Indiana. “Ins... Read more

Insurance Regulatory Reform Not About States Rights; Prior Approval Has to Go, NAMIC Tells State Legislators

July 11, 2005 INDIANAPOLIS (July 11, 2005)—A top state advocate with the National Association of Mutual Insurance Companies has challenged state legislators to make the necessary changes to state insurance regulation or risk congressionally mandated reforms. Senior D... Read more

NAIC Sarbanes-Oxley Plan Gets Tough Scrutiny By NCOIL; State Legislative-Based Alternative Contemplated

July 8, 2005 After sharp questioning about an NAIC proposal to apply Sarbanes-Oxley modeled internal controls to non-public insurance companies, the chairman of a key NCOIL committee has invited industry and regulators to work with legislators to craft an alternativ... Read more

Finite Re Blanks Disclosure and Attestation Has Fishing Expedition Aspects, NAMIC Tells Working Group

July 7, 2005 INDIANAPOLIS (July 7, 2005)—National Association of Mutual Insurance Companies (NAMIC) comments on proposed new National Association of Insurance Commissioners (NAIC) Annual Statement disclosures and attestation, caution regulators that current standard... Read more

Security Breach Notification Laws Should Concern Insurers, NAMIC Says

July 7, 2005 INDIANAPOLIS (July 7, 2005)—Differences in the 19 security breach notification laws enacted so far this year should be of concern to insurers conducting business in multiple states, according to an analysis by the National Association of Mutual Insuranc... Read more

Treasury TRIA Report Unduly Sanguine about Private Market’s Ability to Provide Terrorism Insurance

June 30, 2005 Conclusion Not Consistent with Report’s Own Data and Analysis INDIANAPOLIS (June 30, 2005)—“Overall, our assessment is that the immediate effect of the removal of the TRIA subsidy is likely to be less terrorism insurance written by insurers, higher pric... Read more

NAMIC Commends Louisiana Lawmakers for Adjustments Made to Residual Market Rating Formulas

June 29, 2005 INDIANAPOLIS (June 29, 2005)—Louisiana lawmakers should be commended for adjustments they have made in the rating formulas used to calculate rates for the state’s residual markets, an official of the National Association of Mutual Insurance Companies (N... Read more

NAMIC Says Focus on Underwriting Flexibility, Regulator Accountability to ‘Re-shape’ Insurance Reg Climate

June 22, 2005 INDIANAPOLIS (June 22, 2005)—Stating that the insurance industry successfully influences public policy “when we are assertive, thoughtful and focused in our arguments,” a senior official from the nation’s largest property/casualty trade association has ... Read more

Insuring Against Certain Risks Requires Government Participation, Concludes NAMIC Report

June 21, 2005 Terrorism Risk is Prime Example INDIANAPOLIS (June 21, 2005)—Even in a robust private insurance market, certain types of “extreme” risk can only be insured with government assistance, according to a National Association of Mutual Insurance Companies (NA... Read more

No Great Gains or Losses for Insurers During Vermont Legislative Session, Says NAMIC

June 16, 2005 INDIANAPOLIS (June 16, 2005)—“Although insurers faced a number of challenges during the 2005 session of the Vermont General Assembly, in the end there were no great gains or losses,” said National Association of Mutual Insurance Companies (NAMIC) State ... Read more

NAMIC Glad Full Sarbanes-Oxley ‘Off the Table,’ but Says Cost, Applicability Remain at Issue

June 15, 2005 INDIANAPOLIS (June 15, 2005)—The National Association of Mutual Insurance Companies (NAMIC) said today that it is encouraged regulators have decided not to transfer the complete internal control framework of Sarbanes-Oxley to state insurance regulation,... Read more

Tennessee Lawmakers Busy on P/C Issues, NAMIC Analysis Reveals

June 9, 2005 INDIANAPOLIS (June 9, 2005)—Tennessee lawmakers enacted more than 40 bills of interest to the property/casualty industry during this year’s legislative session which ended May 28, an analysis compiled by the National Association of Mutual Insurance Comp... Read more

NAMIC Commends South Carolina Governor for Letting Seatbelt Bill Become Law Without his Signature

June 9, 2005 INDIANAPOLIS (June 9, 2005) – An official of the National Association of Mutual Insurance Companies (NAMIC) today commended South Carolina Gov. Mark Sanford on his decision to let a seatbelt bill become law late Wednesday, without his signature. “While ... Read more

NAIC Sarbanes-Oxley 404 Proposal Would Impose Exorbitant Costs

June 8, 2005 New Study Measures Costs, Potential Benefits INDIANAPOLIS (June 8, 2005)—Adding Sarbanes-Oxley Section 404 content to state insurance regulation would cost almost eight times the maximum potential benefit to mutual insurance companies if all insolvencie... Read more

Colorado Governor Vetoes NAMIC-Opposed Legislation

June 3, 2005 INDIANAPOLIS (June 3, 2005)—Colorado Gov. Bill Owens took a strong stand in support of tort reform and constitutional rights on Wednesday by vetoing a bill that would have allowed substitute service of process upon the Colorado Secretary of State. The N... Read more

Indiana Commissioner Heeds NAMIC’s Call on Credit-based Insurance Scoring Bulletin

June 3, 2005 INDIANAPOLIS (June 3, 2005)—Relying on an opinion from the Indiana attorney general and heeding concerns expressed by the National Association of Mutual Insurance Companies (NAMIC), the Insurance Institute of Indiana and other organizations, Insurance C... Read more

Sarbanes-Oxley for Non-Public Insurance Companies ‘Doesn’t Fit,’ says NAMIC Report; Offers Process to Evaluate Solvency Laws

June 2, 2005 INDIANAPOLIS (June 2, 2005)— The case against a regulator initiative to apply Sarbanes-Oxley type requirements to non-public insurers continues to grow stronger with the release by the National Association of Mutual Insurance Companies (NAMIC) today of ... Read more

Senate Judiciary Committee Passes FAIR Act

May 26, 2005 WASHINGTON (May 26, 2005)—Today, the Senate Judiciary Committee passed S. 852, the Fairness in Asbestos Injury Resolution Act, by a vote of 13-5. Sen. Arlen Specter, R-Pa., Chairman of the U.S. Senate Judiciary Committee, introduced S. 852 that would cr... Read more

Statutory Remedies to Curb Fraud Abuse Spreading Across U.S., Says NAMIC

May 25, 2005 INDIANAPOLIS (May 25, 2005)—To combat insurance fraud that costs consumers an average of $200-300 per year, 40 states have established entities responsible for oversight of related investigations and prosecution efforts, according to an analysis by the ... Read more

NAMIC to Present Sarbanes-Oxley Cost Benefit Analysis at NAIC Summer Meeting

May 18, 2005 INDIANAPOLIS (May 18, 2005)—During the summer NAIC meeting, the National Association of Mutual Insurance Companies (NAMIC) will present a study showing costs and benefits of applying certain Sarbanes-Oxley-type requirements to non-public insurers. The s... Read more

NAMIC Staff Directors Take Key ALEC Task Force Roles

May 17, 2005 INDIANAPOLIS (May 17, 2005)—Two National Association of Mutual Insurance Companies staff members have assumed new roles on key task forces of the American Legislative Exchange Council (ALEC), a national organization of state legislators. During the stat... Read more

Hawaii: Legislature to Study NCOIL Property/Casualty Insurance Modernization Act; NAMIC Comments

May 16, 2005 INDIANAPOLIS (May 16, 2005)— “Hawaii’s legislative decision to conduct a study of the NCOIL Property/Casualty Insurance Modernization Act suggests that the state legislature is committed to making strides toward rate modernization, which will promote ma... Read more

Colorado Legislature Protects Guaranty Fund Solvency, Viability; NAMIC Comments

May 16, 2005 INDIANAPOLIS (May 16, 2005)—Colorado’s Legislature effectively killed three bills that would have adversely impacted the ability of the state's Insurance Guaranty Fund to pay claims to insureds of insolvent workers compensation insurance carriers, accor... Read more

Florida Legislation: It’s More Than Hurricanes NAMIC Analysis Reveals

May 13, 2005 INDIANAPOLIS (May 13, 2005)—Although much of the attention during this year’s legislative session focused on hurricane-related issues, Florida lawmakers also succeeded in passing several other bills of interest to the insurance industry, a review by the... Read more

Indiana Gov. Daniels Heeds Request for Veto of Defective Seat Belt Defense Bill; NAMIC Comments

May 13, 2005 INDIANAPOLIS (May 13, 2005)—The National Association of Mutual Insurance Companies (NAMIC), Insurance Institute of Indiana and Defense Trial Counsel of Indiana (DTCI) prevailed on Indiana Gov. Mitchell E. Daniels today to veto a defective seat belt defe... Read more

ALEC Publishes NAMIC Argument Against Applying Sarbanes-Oxley Rules to Mutual Insurers

May 13, 2005 INDIANAPOLIS (May 13, 2005)— Even if there were an insolvency crisis in the insurance industry, “there is no reason to think that applying Sarbanes-Oxley rules would solve the problem,” writes NAMIC Public Policy Director Robert Detlefsen in an ALEC Iss... Read more

North Dakota Legislative Enactments to Significantly Impact Industry; NAMIC Comments

May 10, 2005 INDIANAPOLIS (May 10, 2005)—Legislation enacted by the North Dakota legislature will have “a fundamental and immediate impact” on how insurers conduct business in the state, according to a spokesman from the National Association of Mutual Insurance Comp... Read more

NAMIC Asks Ind. Gov. Daniels to Veto Defective Seat Belt Defense Bill

May 6, 2005 INDIANAPOLIS (May 6, 2005)—A defective seat belt defense bill passed during the last hours of Indiana’s General Assembly has prompted the National Association of Mutual Insurance Companies (NAMIC) to request a veto of Senate Enrolled Act (SEA) 218 by Go... Read more

Author Pulls Bill Mandating California Insurer Community Investments

May 6, 2005 INDIANAPOLIS (May 6, 2005)—The author of a California bill that would mandate insurer community development investments, withdrew the bill from consideration for this legislative session. Assemblyman Mark Ridley-Thomas, will not pursue AB 925 relating t... Read more

NAMIC Commends Maryland Legislative Focus on Teen Driving

May 5, 2005 Thursday, May 5 - Resisting efforts to impose new regulatory mandates, the Maryland legislature’s enactment of seven bills to enhance the state’s teen driver graduated licensing statutes and provide stricter provisions for driving permits will address a... Read more

California Legislative Committee Takes Correct Action on Producer Requirements

May 2, 2005 INDIANAPOLIS (May 2, 2005)—California legislators have issued a “sharp rebuke” of Insurance Commissioner John Garamendi’s efforts to impose new requirements on agents and brokers, according to the National Association of Mutual Insurance Companies (NAMI... Read more

California Insurance Regulator Continues Search for Problem to Solve on Broker Compensation

April 27, 2005 INDIANAPOLIS (April 27, 2005)—California Insurance Commissioner John Garamendi’s hoped-for regulations on the professional duties of an agent or broker propose solutions to problems that have yet to be identified according to the National Association of... Read more

Failure of Four Bills to Ban or Restrict Credit-Based Insurance Scoring in Washington Critical to State Insurance Marketplace, Says NAMIC

April 26, 2005 INDIANAPOLIS (April 26, 2005)—The failure of four bills introduced during the Washington State legislative session that would have banned or added further restrictions to the use of credit-based insurance scoring as an underwriting tool may send the mes... Read more

NAMIC Urges Anti-Tort Reform, Workers Compensation Vetoes in Colorado

April 25, 2005 INDIANAPOLIS (April 25, 2005)—The National Association of Mutual Insurance Companies (NAMIC) has asked Colorado's governor to veto two bills that would erode ongoing tort reform and undermine the state's worker's compensation procedures. HB 1121 would a... Read more

Kansas Self-Audit Law Boon to Consumers and Industry; NAMIC Comments

April 21, 2005 INDIANAPOLIS (April 21, 2005)—Kansas’ new self-audit privilege law will provide greater protections to insurance consumers while improving the state regulatory climate, according to a spokesman from the National Association of Mutual Insurance Companies... Read more

NAMIC Opposes Garamendi’s Proposed ‘Use it and Lose it’ Regulations

April 20, 2005 INDIANAPOLIS (April 20, 2005)—The National Association of Mutual Insurance Companies (NAMIC) opposes California Insurance Commissioner John Garamendi’s proposed “Use it and Lose it” regulations. Garamendi alleged that homeowner’s insurers are denying co... Read more

NAMIC Presents Benjamin Franklin Public Policy Award© to Members of the 108th Congress

April 19, 2005 WASHINGTON (April 19, 2005)––The National Association of Mutual Insurance Companies (NAMIC) today announced the recipients of its Benjamin Franklin Public Policy Award©. Eligibility for this prestigious award is based on roll call votes taken, or b... Read more

Specter Asbestos Discussion Draft ‘Unacceptable’ to PCI and NAMIC

April 19, 2005 Trade Groups to Oppose Legislation Unless Substantial Improvements are Made WASHINGTON – In a letter today to Senate Judiciary Committee Chairman Arlen Specter, R-Penn., the Property Casualty Insurers Association of America (PCI) and the National Associ... Read more

Regulators Table Risk-Loads Proposal Opposed by NAMIC, Other Trades

April 18, 2005 INDIANAPOLIS (April 18, 2005)—In the face of stiff opposition from property/casualty trade representatives, the National Association of Insurance Commissioner’s Casualty Actuarial Task Force has voted to table a proposed position that would have created... Read more

Assurance Partners Bancorp Merges with Federal City Bancorp

April 18, 2005 CARMEL, INDIANA (April 18, 2005) – Assurance Partners Bank (APB) of Carmel, Ind., announced that it has merged with Federal City Bancorp, Inc., a Washington, D.C.-based thrift holding company. The transaction closed on April 8, 2005. The bank will expan... Read more

‘Disparate Impact’ Theory Provides No Support for Banning Credit-based Insurance Scoring, According to Paper Published by Washington Legal Foundation

April 18, 2005 INDIANAPOLIS (April 18, 2005)—In a “Legal Backgrounder” published by the Washington Legal Foundation (WLF), National Association of Mutual Insurance Companies (NAMIC) Public Policy Director Robert Detlefsen explains why group variations with respect to ... Read more

West Virginia Governor Deserves Credit for Legal, Insurance Reforms, Says NAMIC Official

April 13, 2005 INDIANAPOLIS (April 13, 2005)—West Virginia Gov. Joe Manchin deserves credit for not being dissuaded from his goal to seek legal and insurance reforms this year despite intense opposition from some within his own party and the state’s trial bar, a repre... Read more

With Producer Compensation Resolution Unknown, NAMIC Says Look at ‘Cost to Consumer of Regulation’

April 13, 2005 INDIANAPOLIS (April 13, 2005)—Policymakers concerned that producer compensation practices might result in higher prices for insurance consumers should “pay attention to regulatory requirements that have had that effect for years,” according to a senior ... Read more

Mississippi Lawmakers Increase Minimum Auto Liability Limits, Says NAMIC

April 8, 2005 INDIANAPOLIS (April 8, 2005)— Mississippi lawmakers increased the state’s minimum auto liability limits during their regular legislative session which ended on Wednesday, an official of the National Association of Mutual Insurance Companies (NAMIC) said... Read more

Georgia Lawmakers Deserve Credit For Major Tort Initiatives, Says NAMIC

April 1, 2005 Indianapolis (April 1, 2005) – Georgia lawmakers should be commended for enacting major tort initiatives during their just-concluded 39-day legislative session, a representative of the National Association of Mutual Insurance Companies (NAMIC) said toda... Read more

NAMIC Pleased With Insurance Laws Enacted in South Dakota

March 29, 2005 INDIANAPOLIS (March 29, 2005)–– What it lacked in controversy, the South Dakota Legislature made up for by addressing issues that matter to the everyday business of the property/casualty insurance industry, according to a representative of the National ... Read more

NAMIC Considers NAIC Broker Compensation Disclosure Amendment Overbroad, Confusing, Ambiguous, and of Limited Value to Consumers

March 25, 2005 INDIANAPOLIS (March 25, 2005)—The National Association of Mutual Insurance Companies (NAMIC) reaffirmed its view of the NAIC’s Compensation Disclosure Amendment in a letter to NAIC President Diane Koken, who also serves as chair of the executive task fo... Read more

NAMIC Calls Utah’s Legislative Session ‘A Glass Half Full’

March 24, 2005 INDIANAPOLIS (March 24, 2005)—A glass half full in Utah is much preferred to one that is empty, according to the National Association of Mutual Insurance Companies (NAMIC). Western Region State Affairs Manager Christian Rataj said that his organization ... Read more

NAMIC Pleased Kentucky Lawmakers Pass Auto Cleanup Bills, Amend Local Premium Tax Procedures

March 23, 2005 INDIANAPOLIS (March 23, 2005)—The National Association of Mutual Insurance Companies (NAMIC) today applauded passage of new laws by the Kentucky General Assembly to clean up misconceptions in existing statutes. Prior to adjourning late Monday night, Ken... Read more

Alldredge Named to Coordinate NAMIC State Advocacy Strategies

March 22, 2005 INDIANAPOLIS (March 22, 2005)—The National Association of Mutual Insurance Companies (NAMIC) announced today that Neil Alldredge has been named Senior Director of State Advocacy. In his new capacity, Alldredge will be responsible for development and exe... Read more

NAMIC Urges NAIC to Tailor Broker Compensation Remedy to Actual Problem

March 15, 2005 The NAIC should narrowly tailor its proposed broker compensation remedy to those situations in which consumers are served by producers who are compensated by both companies and the consumer, according to testimony by an official of the nation's largest ... Read more

NAMIC Supports NCOIL Stance Against Proposed Sarbanes-Oxley Regs

March 14, 2005 SALT LAKE CITY (March 13, 2005)--State legislators are right to challenge an NAIC initiative that would impose sweeping federal requirements designed to protect stockholders on privately held insurance companies, according to an official of the nation's... Read more

Additional Legal Reform Tops NAMIC’s 2005 Federal Affairs Agenda

March 10, 2005 WASHINGTON (March 10, 2005)—The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States – has set i... Read more

NAMIC Applauds Nebraska Senate Approval of Personal Lines Rate Modernization

March 3, 2005 INDIANAPOLIS (March 3, 2005)—“NAMIC applauds the Nebraska Senate for taking the next logical step in modernizing the state’s regulatory process by approving Insurance Commissioner Tim Wagner’s omnibus insurance bill, which includes personal lines rate a... Read more

NAMIC Pleased Virginia Enacts Stricter Driver’s License Laws, Tougher DUI Sanctions

March 1, 2005 INDIANAPOLIS (March 1, 2005)–– Stricter driver’s licensing laws and tougher driving under the influence (DUI) sanctions enacted by the Virginia General Assembly this year will improve the state’s personal insurance climate, according to an official of t... Read more

NAMIC Testifies in Support of Anti-Fraud Legislation in Vermont

March 1, 2005 INDIANAPOLIS (March 1, 2005)––“Insurance fraud is not a victimless crime,” National Association of Mutual Insurance Companies (NAMIC) State Affairs Manager Tami Stanton told the members of the Vermont House Commerce Committee Friday. “Individuals are vi... Read more

Assurance Partners Bancorp Shareholders Approve Merger with Federal City Bancorp

February 28, 2005 CARMEL, INDIANA (February 28, 2005) – Shareholders of Assurance Partners Bancorp (APB) of Carmel, Ind., voted to merge with Federal City Bancorp, Inc., a Washington, D.C.-based thrift holding company. Regulatory approval for the merger has already been ... Read more

NAMIC Growth Drives Market Share Increases

February 25, 2005 INDIANAPOLIS (Feb. 25, 2005)––The National Association of Mutual Insurance Companies (NAMIC) now represents 43 percent of the U.S. property/casualty insurance market. This is an increase of $26 billion in premium and two percentage points over the previ... Read more

House Overwhelmingly Passes Class Action Reform—President Bush Expected to Sign Legislation

February 17, 2005 NAMIC Applauds Enactment WASHINGTON (Feb. 17, 2005)––By a vote of 279 to 149 on Thursday, the House of Representatives overwhelming approved S. 5, The Class Action Fairness Act of 2005. Days after Senate passage, the House soundly defeated all amendment... Read more

NAMIC Applauds Newly Introduced Natural Disaster Legislation

February 17, 2005 WASHINGTON (Feb. 17, 2005)––A natural disaster bill introduced Wednesday afternoon by a Florida Congresswoman from a coastal district will ensure that debate on the problem of insurance availability in disaster-prone areas will continue, according to th... Read more

West Virginia Lawsuit, Insurance Reforms Long Overdue: NAMIC

February 15, 2005 INDIANAPOLIS (Feb. 15, 2005)––A plan by West Virginia Gov. Joseph Manchin to introduce legislation as early as next week to help reform the state’s civil justice system and address certain insurance-related issues is long overdue, an official of the Nat... Read more

NAMIC Hails Senate Passage of Class Action Reform

February 10, 2005 WASHINGTON (Feb. 10, 2005)—“The Senate’s passage of class action reform legislation today culminates six years of legislative effort and is of monumental importance,” said National Association of Mutual Insurance Companies (NAMIC) Senior Vice President ... Read more

NAMIC To Regulators: State Reasons for Adding Sarbanes-Oxley to State Insurance Law

February 10, 2005 Subgroup Deaf To Questions On Section 404 Cost INDIANAPOLIS (Feb. 10, 2005)––A NAMIC official has once again challenged regulators to explain the substantive reasons for adding Sarbanes-Oxley (SOX) audit-related measures to state insurance regulation an... Read more

Few States Pass Nearly Half of New P/C Insurance Laws in NAMIC Analysis

February 9, 2005 INDIANAPOLIS (Feb. 9, 2005)––Four states accounted for one quarter of the changes to key property/casualty state insurance laws last year, according to a survey by the National Association of Mutual Insurance Companies (NAMIC). Colorado, Idaho, Utah, an... Read more

NAMIC Pushes For Reforms of Indiana Fraud, UM/UIM Laws

February 8, 2005 INDIANAPOLIS (Feb. 8, 2005)––Appearing before both the Indiana House and Senate insurance committees on Thursday, National Association of Mutual Insurance Companies (NAMIC) State Affairs Manager, Tami Stanton, called for legislation to reverse state cou... Read more

NAMIC Poised to Object During Sarbanes-Oxley ‘404’ Deliberation

February 7, 2005 INDIANAPOLIS (Feb. 7 2005)––Despite opposition by NAMIC and others in the insurance industry, an NAIC panel meeting this week will begin to discuss whether costly new audit measures based on the federal Sarbanes-Oxley (SOX) law should be imposed on non-... Read more

Detlefsen to Direct NAMIC Public Policy Initiatives

February 3, 2005 INDIANAPOLIS (Feb. 3 2005)––Former insurance studies research fellow and strategic public affairs counsel, Robert Detlefsen, Ph.D., has joined the National Association of Mutual Insurance Companies (NAMIC) as Director of Public Policy. Detlefsen will de... Read more

NAMIC Applauds Committee Approval of North Dakota Rate Modernization Bill

February 3, 2005 INDIANAPOLIS (Feb. 3, 2005)––North Dakota’s House Committee on Industry, Business and Labor (IBL) approved legislation to modernize rate and rate filing standards by an 11–2 vote, Tuesday. “NAMIC applauds Chairman George Keiser, Representative Jim Kaspe... Read more

NAMIC Statement on President Bush’s Call for Enactment of Class Action Reform Legislation

February 3, 2005 INDIANAPOLIS (Feb. 3, 2005)––The National Association of Mutual Insurance Companies (NAMIC) issued the following statement concerning President Bush’s call for federal class action reform legislation: "NAMIC wholeheartedly agrees with President Bush’s s... Read more

NAMIC Concurs With Texas Commissioner on Accuracy of Insurance Scoring in Predicting Risk

February 1, 2005 'Credit Scoring, if continued, is not unfairly discriminatory' INDIANAPOLIS (Feb. 1, 2005)--On the controversial subject of credit-based insurance scoring, Texas Insurance Commissioner Jose Montemayor firmly agrees with the long-held positions of the Na... Read more

CFA Report Long on Innuendo, Short on Evidence, Says NAMIC

January 28, 2005 Analysis of Effects of Contingent Insurance Agreements Based Solely on Conjecture INDIANAPOLIS (Jan. 28, 2005)––“Where’s the proof of misconduct among agents and brokers in small business and individual lines?” asks National Association of Mutual Insura... Read more

NAMIC Opposes Colorado Bill to Ban Credit-Based Insurance Scoring

January 26, 2005 Measure defeated by 5-2 vote; House bill awaits consideration INDIANAPOLIS (Jan. 26, 2005)––A Colorado Senate committee has rejected a bill to ban credit-based insurance scoring. The National Association of Mutual Insurance Companies (NAMIC) was part of... Read more

NAMIC Opposes North Dakota Bill To Limit Underwriting Freedom

January 20, 2005 INDIANAPOLIS (Jan. 20, 2005)–– The National Association of Mutual Insurance Companies (NAMIC) has opposed a bill supported by the North Dakota Insurance Commissioner that would change the circumstances under which credit-based insurance scoring could be... Read more

NAMIC Says NAIC Broker Dealer Model Laudable But Still Too Broad

January 20, 2005 INDIANAPOLIS (Jan. 20, 2005)––NAIC efforts to address concerns surrounding broker compensation continue to be over-broad, going beyond the single problem that has been defined, according to comments filed Wednesday by the National Association of Mutual ... Read more

NAMIC Appoints Western Region State Affairs Manager

January 18, 2005 INDIANAPOLIS (Jan. 18, 2005)––Former property/casualty claims adjuster, subrogation analyst and insurance attorney, Christian Rataj, has joined the National Association of Mutual Insurance Companies (NAMIC) as state affairs manager for the Western Unite... Read more

NAMIC Testifies for North Dakota Rate Modernization Bill

January 18, 2005 INDIANAPOLIS (Jan. 18, 2005)––A bill to modernize rate and rate filing standards “will be of great benefit to North Dakota insurance markets,” and “would send a strong message to Congress that states can improve and modernize the state system of insuran... Read more

Rate Modernization, Protecting Underwriting Tools, Tort Reform Top 2005 NAMIC National State Agenda

January 14, 2005 INDIANAPOLIS (Jan. 14, 2005)––Rate modernization, protection of underwriting tools and tort reform top the 2005 national state legislative agenda of the National Association of Mutual Insurance Companies (NAMIC). “NAMIC state advocacy is national in sco... Read more

NAMIC Pleased That President Bush Is Determined to Obtain Legal Reform

January 6, 2005 WASHINGTON (Jan. 6, 2005)— President Bush highlighted the need yesterday for common-sense medical liability reform to protect patients and to stop the skyrocketing costs associated with frivolous lawsuits. Bush also stressed the call for class action la... Read more

NAMIC Says New Texas Study Puts To Rest Question of Relationship Between Credit-based Insurance Scores and Claims

January 6, 2005 Two Million Policyholders Surveyed at Request of Texas Legislature INDIANAPOLIS (Jan. 6, 2005)––The latest study released by the Texas Department of Insurance is another in a long line of studies that validates the use of credit-based insurance scoring,... Read more

NAIC Approves Producer Disclosure Amendments

December 29, 2004 Measures Too Broad, Says NAMIC INDIANAPOLIS (December 29, 2004)––The NAIC today amended its Producer Licensing Model Act in response to concerns about broker compensation irregularities. According to a NAMIC official, the amendments are overly broad bec... Read more

Producer Compensation ‘Fix’ Should Focus on Defined Problem, NAMIC To Tell NAIC

December 22, 2004 INDIANAPOLIS (Dec. 22, 2004)–– Regulator efforts to address broker compensation concerns in time for consideration by state legislatures next year should focus on transactions where the producer receives compensation both from the insurer and the custom... Read more

NAIC Deliberations on Insurance Law Must Be Public Says NAMIC

December 21, 2004 Open Meetings Policy Inadequate, Ignored INDIANAPOLIS (Dec. 21, 2004)––“Any NAIC deliberation or decision that has legal or persuasive effect on insurance law and regulation is the public’s business and must be conducted in a public setting,” stated a N... Read more

NAMIC Announces New Federal Affairs Senior Lobbyist

December 21, 2004 WASHINGTON (Dec. 21, 2004)—The National Association of Mutual Insurance Companies (NAMIC), a leading national property/casualty insurance trade association, has added a veteran property/casualty insurance lobbyist to its Washington, D.C., office. Justin... Read more

SVO Expected to Restore Valuation of ISO Shares, Says NAMIC

December 15, 2004 INDIANAPOLIS (Dec. 15, 2004)––Insurance Services Office (ISO) shareholders who have experienced an unexplainable plunge in valuation for that organization’s class B shares from the National Association of Insurance Commissioners (NAIC) Securities Valuat... Read more

Scope of Change to NAIC Producer Licensing Model Should be Narrow and Carefully Considered Says NAMIC

December 10, 2004 INDIANAPOLIS (Dec. 10, 2004)––Any solution proposed by the NAIC in response to the broker compensation issue should be targeted to a well defined problem, according to testimony submitted late Wednesday by the National Association of Mutual Insurance Co... Read more

NAIC Pushes for Resolution on Broker Activities by Year End

December 6, 2004 NEW ORLEANS (Dec. 6, 2004)--Meeting Saturday in New Orleans, the NAIC Executive Task Force on Broker Activities heard a consensus from industry and producers that while remedies were needed, the initiatives suggested so far were overly broad and do not ... Read more

Broker Compenation, Sarbanes-Oxley at Top of NAMIC Agenda for NAIC Winter Meeting

December 3, 2004 INDIANAPOLIS (Dec. 3, 2004)––The National Association of Mutual Insurance Companies (NAMIC) agenda for the NAIC winter meeting includes testimony on the NAIC’s proposed broker compensation model. NAMIC is also concerned about prematurely embedding certa... Read more

NAMIC Hopes for Retrenchment on NAIC Operating Reserve Growth

December 2, 2004 INDIANAPOLIS (Dec. 2, 2004)––The National Association of Mutual Insurance Companies (NAMIC) will focus attention on regulators’ perceptions of their need to budget for “risk factors” during the National Association of Insurance Commissioners (NAIC) wint... Read more

Blanks Item for Disclosure of Contingent-Fee Data Goes Beyond Need

December 2, 2004 INDIANAPOLIS (Dec. 2, 2004)––A proposal to require the comprehensive disclosure of contingent commissions for all species of insurance business, not just the commercial business being investigated by New York Attorney General Elliott Spitzer, seeks more... Read more

NAMIC Raises 5th Amendment, Confidentiality Concerns over Proposed NAIC Broker Activities Questionnaire

December 1, 2004 INDIANAPOLIS (Dec. 1, 2004)––The National Association of Mutual Insurance Companies (NAMIC) voiced its concerns about an NAIC-developed template suggested to states to query their domestic carriers about possible relationships with large brokerage firms... Read more

NAMIC Urges Deliberative, Open Approach by NCOIL on Broker Disclosure Model

December 1, 2004 INDIANAPOLIS (Dec. 1, 2004)––The National Association of Mutual Insurance Companies (NAMIC) issued the following statement concerning the National Conference of Insurance Legislators (NCOIL) Proposed Insurance Broker Fiduciary Duty and Conflict of Inter... Read more

NAMIC President Comments on Senate Hearing

November 16, 2004 INDIANAPOLIS (Nov. 16, 2004)--National Association of Mutual Insurance Companies (NAMIC) President Charles M. Chamness issued the following statement in response to hearings held today by the Senate Governmental Affairs Subcommittee on Financial Managem... Read more

Building NAIC Reserve Further Not Justified; Reduce Fees Instead, Says NAMIC

November 10, 2004 INDIANAPOLIS (Nov. 10, 2004)––The risks cited by the National Association of Insurance Commissioners (NAIC) as reasons for generating a 100 percent reserve within two years are only “minimally defined or improbable,” according to comments on the NAIC’s ... Read more

NAMIC Urges NAIC, NCOIL Leadership to Stay Focused on Reform While Pursuing Agent-Broker Inquiry

November 4, 2004 INDIANAPOLIS (Nov. 4, 2004)––Emphasizing its support of a reformed state insurance regulatory system based on marketplace competition, the nation’s largest property/casualty insurance trade association has urged the leaders of two key policymaking organ... Read more

Georgia State Property/Casualty Trade Association Welcomes NAMIC as Associate Member

October 18, 2004 ATLANTA (Oct. 18, 2004)––The Georgia Association of Property/Casualty Insurance Companies (GAPCIC) announced today that its Board of Directors has approved the National Association of Mutual Insurance Companies (NAMIC) to become its newest member. “GAPC... Read more

NAMIC Applauds South Carolina Governor’s ‘Contract For Change’ Initiative

October 13, 2004 INDIANAPOLIS (Oct. 13, 2004)––The National Association of Mutual Insurance Companies (NAMIC) today applauded Gov. Mark Sanford on his five-point “Contract for Change” initiative for South Carolina, and especially his plan to create a more equitable civi... Read more

NAMIC’s Post-Election Legislative Priority - Extension of TRIA

October 12, 2004 WASHINGTON (Oct. 12, 2004)––The Terrorism Risk Insurance Act’s (TRIA) hard end date of Dec. 31 poses a huge problem for commercial insurance policies taking effect on or after Jan.1, 2005, as the end of the typical one-year policy will extend beyond the... Read more

NAMIC Promotes Three to Senior Vice President

October 11, 2004 INDIANAPOLIS (Oct. 11, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has promoted Gregg A. Dykstra, Roger H. Schmelzer, and David A. Winston to Senior Vice President from Vice President. “NAMIC has made some changes to its organi... Read more

NAMIC Analyzes Credit-Based Insurance Scoring Laws

October 11, 2004 INDIANAPOLIS (Oct. 11, 2004)––Only two states–Pennsylvania and Vermont–have yet to enact laws or adopt regulation governing the use of credit-based insurance scoring, according to a just-completed analysis by the National Association of Mutual Insurance... Read more

NAIC Releases 398-Page Budget in Which ‘Transparency is Key’

October 6, 2004 INDIANAPOLIS (Oct. 6, 2004)––The National Association of Insurance Commissioners (NAIC) says that its proposed 2005 budget reduces expenses 2.8 percent from 2004 budget levels and offers users transparency in understanding NAIC objectives. Revenues for ... Read more

NAMIC Official Notes Changes, Opportunities in Direction of Insurance Public Policy

October 4, 2004 SCOTTSDALE, ARIZ. (Oct. 4, 2004)––A senior official of the National Association of Mutual Insurance Companies (NAMIC) told a group of state financial service regulators meeting here Friday that while the policy direction of insurance regulation is chang... Read more

NAMIC Applauds Committee Passage of H.R. 4634, The Terrorism Insurance Backstop Extension Act

September 29, 2004 WASHINGTON (Sept. 29, 2004)—This morning, the House Financial Services Committee passed H.R. 4634, the Terrorism Insurance Backstop Extension Act. The bill will extend the Terrorism Risk Insurance Act (TRIA) for two years until Dec. 31, 2007. The commit... Read more

Wayne F. White Named NAMIC’s 2005 Chairman

September 22, 2004 WASHINGTON (Sept. 22, 2004)--Wayne F. White, CPA, PFMM, president and chairman of Home Mutual Fire Insurance Co., Conway, Ark., was elected chairman of the board of the National Association of Mutual Insurance Companies (NAMIC) here today. The election ... Read more

Oxley Receives NAMIC’s Inaugural Legislator of the Year Award

September 21, 2004 WASHINGTON (Sept. 21, 2004)--This afternoon, Charles M. Chamness, president of the National Association of Mutual Insurance Companies (NAMIC), presented the association's inaugural Legislator of the Year Award to House Financial Services Committee Chair... Read more

Government Underwriting Restrictions Distort Insurance Markets, Harm Consumers

September 21, 2004 Unfettered risk-based underwriting promotes competition, reduces loss costs, and lowers premiums WASHINGTON (Sept. 21, 2004)--The policy debate over insurance price regulation tends to focus on state-administered "rating laws" that require insurers to s... Read more

Seven NAMIC Members Celebrate a Century of Service

September 21, 2004 WASHINGTON D.C. (Sept. 21, 2004)--Seven member companies of the National Association of Mutual Insurance Cos. (NAMIC) have joined the ranks of the Century Club. The club was founded by the association to honor its mutual insurance company members reachi... Read more

New Report Confirms Earlier Findings About Government Price Controls for Insurance

September 21, 2004 WASHINGTON, DC, Sept. 21, 2004 – A recent report produced by Milliman, Inc. has confirmed findings from its earlier study regarding California’s Proposition 103, which instituted a system of rigid price regulation for insurance products. The new paper, ... Read more

NAMIC Merit Society Announces 2004 Award Recipients

September 21, 2004 2004 recipients of the NAMIC Merit Award were honored during the NAMIC Merit Society's annual recognition breakfast. Established in 1973, the NAMIC Merit Award recognizes professional advancement in the insurance industry, specifically among those indiv... Read more

Duane Smith is NAMIC’s Professional Farm Mutual Manager of the Year

September 20, 2004 WASHINGTON (Sept. 20, 2004)--Duane Smith, PFMM, secretary/manager of Farmers Mutual Insurance Company of Johnson and Shelby Counties, Franklin, Ind., was the recipient NAMIC's 2004 Professional Farm Mutual Manager (PFMM) of the Year. He was recognized d... Read more

Professional Farm Mutual Manager Designation Earned by 21 Insurance Professionals

September 20, 2004 Twenty-one managers of NAMIC farm mutual member companies have met requirements to earn the Professional Farm Mutual Manager (PFMM) designation. The new PFMM designees were announced in the annual meeting of the NAMIC Farm Conference, held during the as... Read more

NAMIC Farm Mutual Conference Elects 2005 Leadership

September 20, 2004 WASHINGTON D.C. (Sept. 20, 2004)--During its annual business meeting here today, the Farm Mutual Conference of the National Association of Mutual Insurance Cos. (NAMIC) elected the board of directors to serve during 2004-2005. The business meeting was h... Read more

Gibbel Receives 2004 NAMIC Chairman’s Award

September 20, 2004 WASHINGTON D.C. (Sept. 20, 2004)––The Chairman’s Award of the National Association of Mutual Insurance Cos. (NAMIC), was presented to Henry H. Gibbel, president of Lititz Mutual Insurance Company, Lititz, Penn., during the Opening General Session of the... Read more

NAMIC Property Casualty Conference Elects 2005 Leadership

September 20, 2004 WASHINGTON (Sept. 20, 2004)--During its annual business meeting here today, the Property Casualty Conference of the National Association of Mutual Insurance Cos. (NAMIC) elected the board of directors to serve during 2004-2005. The business meeting was ... Read more

Kansas Credit Scoring Regulation Bulletin Significantly Alter Current Law, NAMIC Testifies

September 17, 2004 TOPEKA, KAN (Sept. 17, 2004)––The current Kansas Department of Insurance (KDI) regulation as well as a proposed KDI bulletin on the use of credit-based insurance scores, significantly alters the Kansas Insurance Score Act, one of 20 state laws based on ... Read more

House Financial Services Committee Chairman Michael G. Oxley to Receive Inaugural NAMIC Legislator of the Year Award

September 17, 2004 WASHINGTON (September 17, 2004)—The National Association of Mutual Insurance Companies (NAMIC) will present its inaugural Legislator of the Year Award to House Financial Services Committee Chairman Michael G. Oxley (R-Ohio), on Sept. 21, 2004. The prese... Read more

New Study Shows Economic Effects of Extending TRIA

September 14, 2004 Washington, DC, September 14, 2004 – A two-year extension of the Terrorism Risk Insurance Act of 2002 (TRIA) would enhance U.S. economic performance in the near term, strengthen the nation’s overall economy, and allow time to evaluate alternative approa... Read more

NAMIC Applauds Passage of Tort Reform Bill

September 14, 2004 WASHINGTON (Sept. 14, 2004)—Today, by a vote of 229-174, the House of Representatives favorably approved H.R. 4571, the Lawsuit Abuse Reduction Act of 2004. H.R. 4571 would amend Rule 11 of the Federal Rules of Civil Procedure to penalize attorneys who ... Read more

Insurance Trades File Suit to Protect Confidentiality of Proprietary Information

September 13, 2004 AUSTIN, TX, Sept. 13, 2004 – In an effort to preclude public disclosure of insurers’ proprietary information, three national insurance trade organizations filed suit in Travis County District Court on Friday. The suit seeks to protect the confidentialit... Read more

NAMIC Statement to the NAIC Industry Liaison Committee on the Oxley Baker “State Modernization and Regulatory Transparency Act” (SMART Act) Discussion Draft

September 11, 2004 ANCHORAGE, ALASKA (Sept. 11, 2004)––The substantive reforms outlined in the recently released discussion draft of the State Modernization And Regulatory Transparency Act (S.M.A.R.T. Act) correspond with NAMIC’s long-held belief that state insurance regu... Read more

Use Oxley-Baker Road Map to Improve State Insurance Regulation

September 11, 2004 ANCHORAGE, ALASKA (Sept. 11, 2004)––The National Association of Mutual Insurance Companies (NAMIC) urged the NAIC Industry Liaison Committee to use the Oxley-Baker road map to cure what ails state insurance regulation during the regulators’ Fall Nationa... Read more

NAMIC Pleased by Passage of Tort Reform Bill

September 9, 2004 WASHINGTON (September 9, 2004)—Yesterday, the House Judiciary Committee favorably approved on an 18-10 vote H.R. 4571, the Lawsuit Abuse Reduction Act of 2004. H.R. 4571 would amend Rule 11 of the Federal Rules of Civil Procedure to penalize attorneys w... Read more

NAIC Treatment of Corporate Governance, Market Conduct, Securities Ratings, and Credit Scoring Important to NAMIC

September 9, 2004 INDIANAPOLIS (Sept. 8, 2004)––The National Association of Mutual Insurance Companies (NAMIC) will advocate its positions on corporate governance, market conduct, securities ratings, and credit scoring during the National Association of Insurance Commiss... Read more

NAMIC To NAIC: The Time for Personal Lines Change and Modernization is Now

September 8, 2004 INDIANAPOLIS (Sept. 8, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has urged the National Association of Insurance Commissioners (NAIC) and its Operational Efficiencies Working Group to adopt a personal lines regulatory framewo... Read more

Insurers Urge U.S. Supreme Court to Reverse Utah Ruling in Landmark Punitive Damages Case

September 2, 2004 CHICAGO – The National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI) have filed an amicus brief urging the U.S. Supreme Court to consider a remand of a second Utah Supreme Court judgmen... Read more

NAMIC Launches Website to Provide Industry Professionals With Information on This Year’s State Elections

September 1, 2004 INDIANAPOLIS (Sept. 1, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has launched a new website, www.stateelections2004.com , to help provide insurance professionals with information about this fall’s state elections. The new web... Read more

Insurance Professional to Lead NAMIC’s Membership and Communications Department

August 26, 2004 INDIANAPOLIS (Aug. 26, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has selected a veteran insurance professional to head its membership and communication efforts. Bart Anderson has been named Senior Vice President of Member Ser... Read more

NAMIC Comments on Oxley/Baker Regulatory Reform Draft

August 24, 2004 WASHINGTON (Aug. 24, 2004)—“NAMIC has long contended that state regulation should be reformed and that these reforms can best be accomplished in the state capitols,” said David A. Winston, NAMIC federal affairs senior vice president in reference to the ... Read more

P/C Trades Urge Federal Regulators to Design Credit Study as Accurately as Possible

August 20, 2004 WASHINGTON D.C. (Aug. 20, 2004) – The three major, national property/casualty insurance trade associations recently submitted formal comments to the Federal Trade Commission (FTC) and the Board of Governors of the Federal Reserve System (Board) regardin... Read more

NAMIC Strongly Disagrees with Exposure Draft of Accounting Standard for Mutual Merger/Consolidation Proposed by IASB

August 18, 2004 INDIANAPOLIS (Aug. 18, 2004)––Recognizing the indirect but growing influence of international developments on U.S. insurance industry regulation and representing the interests of its European members, the National Association of Mutual Insurance Compani... Read more

NAMIC Refreshes Review of Key State Legislative Efforts to Improve the Legal System

August 17, 2004 INDIANAPOLIS (Aug. 17, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has updated its comprehensive online overview of existing and recently enacted laws that represent efforts to overhaul the state civil justice system. This upda... Read more

NAMIC Opposes Proposed Ban On Credit-Based Insurance Scoring to Michigan Consumers

August 2, 2004 INDIANAPOLIS (Aug. 2, 2004)––The National Association of Mutual Insurance Companies (NAMIC) has submitted testimony to the Michigan Office of Financial and Insurance Services (OFIS) in opposition to a proposed rule that would ban the use of insurance sc... Read more

NAMIC Official Testifies Asks ALEC To Support TRIA Extension

July 30, 2004 SEATTLE (July 30, 2004)––Calling terrorism an “uninsurable social risk,” the legal and regulatory affairs director of the National Association of Mutual Insurance Companies (NAMIC) has encouraged the American Legislative Exchange Counsel (ALEC) to back ... Read more

NAMIC Analyzes New Insurance Laws

July 29, 2004 INDIANAPOLIS (July 29, 2004)––One-fifth of the 251 property/casualty bills enacted in the states so far this year relate to the regulation of automobile insurance, according to an analysis by the National Association of Mutual Insurance Companies (NAMIC... Read more

Michigan Supremes Uphold Victory for Mutual Insurers

July 29, 2004 NAMIC Friend of the Court Brief Argues that Mutual Insurers not Compelled to Issue Dividends INDIANAPOLIS (July 29, 2004)––The Michigan Supreme Court let stand an appeals court ruling that a mutual insurance company’s policyholders cannot compel the com... Read more

NAMIC Addresses NCOIL Committee Regarding Sarbanes-Oxley Issue

July 20, 2004 Testimony highlights tools states have now INDIANAPOLIS (July 19, 2004) – As part of a discussion held during the National Conference of Insurance Legislators’ recent Summer meeting in Chicago, NAMIC State Affairs Director Neil Alldredge told NCOIL memb... Read more

NAMIC Says NCOIL Market Conduct Model Amendments ‘No Better, No Worse’ Than Original Model

July 20, 2004 INDIANAPOLIS (July 19, 2004) – An official of the National Association of Mutual Insurance Companies (NAMIC) said today that the “conforming amendments” that the National Conference of Insurance Legislators (NCOIL) adopted on July 16 to its market condu... Read more

NAMIC Dismayed Over Fate of Class Action Bill

July 9, 2004 WASHINGTON (July 9, 2004)—Late yesterday, the Senate failed to reach an agreement on so-called non-germane amendments that would have permitted the class action reform legislation, S. 2062, the Class Action Fairness Act, to be considered in the Senate. ... Read more

NAMIC Statement Responding to Center for Economic Justice

July 8, 2004 INDIANAPOLIS (July 8, 2004)––The National Association of Mutual Insurance Companies (NAMIC) issued the following statement today in response to the Center for Economic Justice reaction to the NAMIC policy paper, The Legal Theory of Disparate Impact Does... Read more

NAMIC Policy Paper to Convince Legislators and Regulators That ‘Disparate Impact’ Theory Does Not Apply to Insurance Scoring

July 7, 2004 AIA, PCI Join in Distribution to Policymakers INDIANAPOLIS (July 7, 2004)––Attempts to apply a “disparate impact” legal standard to the use of credit-based insurance scores by insurers ignore case law, federal authorization of the practice, state laws t... Read more

President Bush Signs Into Law Flood Insurance - NAMIC Applauds Enactment

June 30, 2004 WASHINGTON (June 30, 2004)— This afternoon, President Bush signed into law S. 2238, The Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004. S. 2238 reauthorizes the National Flood Insurance Program (NFIP), administered by the Federal Emergen... Read more

NAMIC Supports Congressional Efforts to Extend Terrorism Risk Insurance Act

June 22, 2004 WASHINGTON (June 22, 2004)—At a press conference today, four members of the House of Representatives introduced a bill extending the Terrorism Risk Insurance Act (TRIA). “NAMIC appreciates the outstanding leadership of Rep. Pete Sessions, R-Texas, Finan... Read more

NAMIC Official Renews Call to Eliminate Regulation By Litigation during Washington Legal Foundation Briefing

June 22, 2004 INDIANAPOLIS (June 22, 2004)––“Lawmakers, regulators and courts must ensure that markets function freely and that laws governing those markets are reliable,” declared National Association of Mutual Insurance Companies (NAMIC) Legal and Regulatory Affair... Read more

NAMIC Supports Passage of Flood Insurance Legislation - Measure Ready for President

June 22, 2004 WASHINGTON (June 22, 2004)—Late yesterday afternoon, the U.S. House of Representatives, under suspension of the rules, passed legislation renewing the National Flood Insurance Program (NFIP) through Sept. 30, 2009. Just one week earlier, the Senate by u... Read more

Insurers Mount Legal Challenge to Multi-state Credit Scoring Study; Ask States to Withdraw Data Call

June 22, 2004 DES PLAINES, Ill. – Two national insurance company trade organizations have expressed legal concerns about the recently initiated multi-state study on credit-based insurance scores and have asked regulators in eight states to withdraw their data request... Read more

Senate Passes Flood Insurance Legislation; NAMIC Comments

June 16, 2004 WASHINGTON (June 16, 2004)—Yesterday, the Senate passed legislation that reauthorizes the National Flood Insurance Program (NFIP) for an additional five years. The Bunning-Bereuter-Blumenaur Flood Insurance Reform Act of 2004 (S. 2238) would impose actu... Read more

NAMIC Official To Regulators: Sarbanes-Oxley Will Not Stop Insolvencies

June 16, 2004 INDIANAPOLIS (June 16, 2004)—A key NAIC committee considering proposed corporate governance amendments to the Model Audit Rule heard a NAMIC spokesman assert that the idea is “a lot more expense with dubious prospect for stopping insolvencies.” “Let me ... Read more

NAMIC Takes Issue With NAIC Revisions to NCOIL Market Conduct Model

June 16, 2004 INDIANAPOLIS (June 16, 2004)—An official of the National Association of Mutual Insurance Companies (NAMIC) warned today that substantive changes made by state insurance regulators to the National Conference of Insurance Legislators (NCOIL) market conduc... Read more

NAMIC Official Says More Regulator Leadership Needed on Personal Lines Reform

June 16, 2004 INDIANAPOLIS (June 16, 2004)--The top state government affairs official for the National Association of Mutual Insurance Companies (NAMIC) encouraged insurance regulators to exert leadership in their states to achieve personal lines rate modernization a... Read more

American Legislative Exchange Council Adopts NAMIC Model Legislation

June 11, 2004 INDIANAPOLIS (June 11, 2004)––The Board of Directors of the American Legislative Exchange Council (ALEC) has adopted model legislation prepared by the National Association of Mutual Insurance Companies (NAMIC). Previously, ALEC’s Civil Justice Task Forc... Read more

Existing Solvency Laws Provide Broader Protection Than Proposed Transplant of Sarbanes-Oxley

June 8, 2004 INDIANAPOLIS (June 8, 2004)––As non-public insurers face a proposal to have the most onerous elements of the Sarbanes-Oxley Act of 2002 extended to state regulation, the National Association of Mutual Insurance Companies (NAMIC) will contrast the extens... Read more

Indiana Attorney General Opinion Upholds Primacy of Legislature to Define ‘Sole Use’

June 3, 2004 Ruling Could Have National Implications INDIANAPOLIS (June 3, 2004)––The National Association of Mutual Insurance Companies hailed a recent advisory opinion by Indiana’s Attorney General upholding the legislative intent of that state’s law on insurance ... Read more

South Carolina Lawmakers Approve Homeowners’ Insurance Flex-band Rating--NAMIC Comments

June 3, 2004 INDIANAPOLIS (June 3, 2004)––Concurring with a series of House amendments, the South Carolina State Senate approved a bill today that creates a flex-band rating bill for homeowners’ insurance, similar to that enacted for the state’s auto market in 1999.... Read more

NAMIC to NAIC: Table ‘Sarbanes-Oxley’ Proposal; Current Insurance Regulation Provides Sufficient Consumer Protections

May 25, 2004 INDIANAPOLIS (May 25, 2004)––Current state solvency regulations and the doubtful value of added costs associated with the National Association of Insurance Commissioners’ (NAIC) emulation of the federal Sarbanes-Oxley Act has led The National Associatio... Read more

Insurers Urge Senate Panel to Extend Terrorism Insurance Program Key to National Economic Security

May 18, 2004 WASHINGTON, D.C., May 18, 2004 – Congress should act this year to extend the Terrorism Risk Insurance Act (TRIA) for two years beyond its December 31, 2005, expiration date because the private market alone cannot deal with further catastrophic terrorist... Read more

Noted California Regulator to Retire After 31 Years

May 11, 2004 INDIANAPOLIS (May 11, 2004)––Senior California regulator Norris Clark, deputy commissioner for financial surveillance, will resign effective Aug. 1. “In all sectors of the insurance industry he is known as a very influential regulator and a reasonable p... Read more

ALEC Civil Justice Task Force Adopts NAMIC Model Law

May 10, 2004 INDIANAPOLIS (May 10, 2004)––The American Legislative Exchange Council (ALEC) Civil Justice Task Force has unanimously adopted a model law prepared by the National Association of Mutual Insurance Companies (NAMIC). The Fair Notice and Market Stability A... Read more

Senate Negotiations Fail on Federal Asbestos Reform - NAMIC Comments

May 7, 2004 WASHINGTON (May 7, 2004)—Yesterday, the Senate was unsuccessful in keeping negotiations alive at creating a federally run asbestos trust fund (S. 2290) to compensate victims of asbestos diseases. Talks ended when parties mutually agreed to disagree over... Read more

NAMIC Concerned by Data Call on Credit-Based Insurance Scoring

May 7, 2004 INDIANAPOLIS (May 7, 2004)––A representative of The National Association of Mutual Insurance Companies (NAMIC) has raised questions about a data call in at least 10 states related to credit-based insurance scoring. Specifically, NAMIC State Affairs Dire... Read more

Florida Legislature Adjourns, Session Productive for Property/Casualty Legislation: NAMIC

May 3, 2004 INDIANAPOLIS (May 3, 2004)––Florida’s just-ended legislative session “proved to be very productive,” an official with the National Association of Mutual Insurance Companies (NAMIC) said today. Florida lawmakers enacted several key property/ casualty bil... Read more

Study Supports NAMIC Position that Massachusetts Over-Regulation Leads to Higher Auto Insurance Costs

April 30, 2004 INDIANAPOLIS (April 30, 2004)––An analysis of Massachusetts automobile regulation “proves that Massachusetts' well-intentioned attempt to protect consumers from overpricing through aggressive regulation has done exactly the opposite,” an official with t... Read more

NAMIC Opposes Proposed Michigan Insurance Scoring Ban

April 27, 2004 INDIANAPOLIS (April 27, 2004)—A proposed ban on the use of credit-based insurance scoring for personal insurance lines in Michigan “will raise, not lower rates for consumers,” according to an official with the National Association of Mutual Insurance Co... Read more

NAMIC Advocates Asbestos Reform

April 23, 2004 WASHINGTON (April 23, 2004)—Yesterday, the Senate failed to invoke cloture, which would have allowed floor consideration of legislation to reform the asbestos litigation system. S. 2290, the Fairness in Asbestos Injury Resolution Act, lacked the votes n... Read more

NAMIC Disappointed Georgia Did Not Reform Tort Law

April 21, 2004 INDIANAPOLIS (April 21, 2004)––An official of the National Association of Mutual Insurance Companies (NAMIC) said today that his organization is disappointed that Georgia lawmakers were unable to enact significant tort reform legislation this year relat... Read more

NAMIC Applauds Ohio Governor for Signing Property Lien Law

April 16, 2004 INDIANAPOLIS (April 16, 2004)––On behalf of its 98 member companies domiciled in Ohio, the National Association of Mutual Insurance Companies (NAMIC) commends Ohio Gov. Bob Taft for signing HB 301 (Core) into law Tuesday. The Bill addresses concerns reg... Read more

NAMIC Announces New Federal Affairs Team

April 16, 2004 WASHINGTON (April 16, 2004)--The National Association of Mutual Insurance Companies (NAMIC) has selected a highly successful group of Washington, D.C., insurance professionals to lead its federal affairs lobbying efforts located in the association’s Was... Read more

NAMIC Urges Tenn. Gov. Bredesen to Sign Bill Authorizing Credit-based Insurance Scores

April 13, 2004 INDIANAPOLIS (April 13, 2004)––The National Association of Mutual Insurance Companies (NAMIC) urged Tennessee Gov. Phil Bredesen to sign legislation authorizing the use of credit-based insurance scores, in a letter sent to the Governor yesterday. Senate... Read more

Washington Legal Foundation Publishes Paper by NAMIC Author

April 13, 2004 INDIANAPOLIS (April 13, 2004)––The Washington Legal Foundation (WLF) has published a paper by a National Association of Mutual Insurance Companies (NAMIC) author. WLF published Self-Evaluative Privilege Would Benefit Insurers and Their Customers by NAMI... Read more

NAMIC Praises West Virginia Anti-Fraud Bill Enactment

March 18, 2004 INDIANAPOLIS (March 18, 2004)––The National Association of Mutual Insurance Companies (NAMIC) said today that its member companies were pleased that before West Virginia lawmakers adjourned Saturday they enacted House Bill 4004, an omnibus insurance bil... Read more

NAMIC Urges Vermont to Criminalize Insurance Fraud

March 17, 2004 INDIANAPOLIS (March. 17, 2004)––A Vermont House bill that establishes an insurance fraud law is an important weapon in strengthening a comprehensive, nationwide fight against insurance fraud. House Bill 742 arms law enforcement personnel and insurers wi... Read more

NAMIC Questions Costs/Benefits of Sarbanes-Oxley Extension to Mutuals

March 17, 2004 INDIANAPOLIS (March. 17, 2004)––NAMIC Financial Regulation Manager William Boyd, CPA, led a series of industry representatives Monday who told the National Association of Insurance Commissioners (NAIC) that insurers are already heavily regulated and do ... Read more

NAMIC Applauds Chairman Oxley’s Remarks to the NAIC on State-Based Insurance Regulatory Reform

March 16, 2004 WASHINGTON (March 16, 2004) – The National Association of Mutual Insurance Companies (NAMIC) commends U.S. House of Representatives Financial Services Committee Chairman Mike Oxley, R-Ohio, for his remarks to the NAIC in New York Sunday outlining a comp... Read more

NAMIC Pleased With Withdrawal of SOX-Inspired Blanks Proposal

March 15, 2004 NEW YORK CITY (March. 15, 2004)––Withdrawal of a proposal on Saturday, during a meeting of the NAIC Blanks Working Group, to have the National Association of Insurance Commissioners (NAIC) Annual Statement reflect Sections 406 and 407 of the Sarbanes-Ox... Read more

Independent Analysts Ask “Where’s The Beef?” in Missouri Study of Credit-Based Insurance Scoring

March 14, 2004 NEW YORK, NY, Mar. 14, 2004 – An insurance scoring report done by the Missouri Department of Insurance is based on faulty assumptions and contains no credible evidence that insurance scores have a disparate impact on low income or minority consumers, ac... Read more

NAMIC Praises South Dakota Governor for Rate Modernization Law

March 9, 2004 INDIANAPOLIS (March 9, 2004)––The National Association of Mutual Insurance Companies (NAMIC) today applauded Gov. Michael Rounds for making South Dakota the first state this year to enact property/casualty rate modernization legislation. Rounds signed S... Read more

NAMIC Calls Credit Scoring ‘Best Practices’ Effort Unnecessary

March 8, 2004 INDIANAPOLIS (March 8, 2004)––The National Association of Mutual Insurance Companies (NAMIC) today called for cessation of an effort to create a “best practices” interpretation document on the use of insurance scores by the National Association of Insur... Read more

The Personal Insurance Federation of California Welcomes NAMIC into Membership

March 5, 2004 Sacramento, CA (March 4, 2004) – The Personal Insurance Federation of California (PIFC) announced today that the National Association of Mutual Insurance Companies (NAMIC) has been unanimously approved by the PIFC Board of Directors to become the newest... Read more

Sensational Claims in Missouri Credit Scoring Report Collapse Upon Closer Review

February 27, 2004 SAN ANTONIO, TX, Feb. 27, 2004 – A credit scoring report done by the Missouri Department of Insurance is biased and inherently flawed, according to an expert analysis by EPIC Consulting LLC, a leading actuarial and financial risk management firm. The an... Read more

NAMIC Asks NCOIL to Delay Vote on Proposed Market Conduct Model

February 23, 2004 INDIANAPOLIS (Feb. 23, 2004)––NAMIC has asked the State-Federal Relations Committee of the National Conference of Insurance Legislators (NCOIL) to delay taking a final vote on its proposed Market Conduct Surveillance Model Act at its spring meeting, whi... Read more

NAMIC Encourages South Dakota Governor to Sign Rate Modernization Legislation

February 20, 2004 INDIANAPOLIS (Feb. 20, 2004)––An overwhelming 66-1 vote by the South Dakota House of Representatives yesterday that nearly completes the state’s journey to property/casualty rate modernization was lauded by the National Association of Mutual Insurance C... Read more

New Jersey Supreme Court Decision Protects Policyholders

February 20, 2004 INDIANAPOLIS (Feb. 20, 2004)––The National Association of Mutual Insurance Companies (NAMIC) issued the following statement concerning the unanimous decision yesterday by the Supreme Court of New Jersey upholding the constitutionality of the “no pay, no... Read more

Missouri Credit-Based Insurance Scoring Study Deeply Concerns NAMIC

January 30, 2004 INDIANAPOLIS (Jan. 30, 2004)––The National Association of Mutual Insurance Companies (NAMIC) expressed great concern about a study examining the impact of credit scores on minority and low-income populations, released yesterday by Missouri Gov. Bob Hold... Read more

NAMIC Applauds Rate Modernization Adoption By South Carolina Senate Insurance Committee

January 28, 2004 INDIANAPOLIS (Jan. 28, 2004)––By a unanimous 6-0 vote earlier this afternoon, the South Carolina Senate Insurance Committee recommended that the full Senate amend current law to allow insurers writing homeowner’s insurance to file rate increases within ... Read more

Auto Insurance, Workers’ Comp Emerge Again As Leading Legal Issue Trends

January 28, 2004 New 2003 Property/Casualty Insurance Laws/Trends Summary Now Online INDIANAPOLIS (Jan. 28, 2004)––Workers’ compensation and automobile insurance laws accounted for nearly 40 percent of the new property/casualty-related insurance statutes enacted by stat... Read more

NAMIC Applauds South Dakota Senate Rate Modernization Adoption

January 26, 2004 INDIANAPOLIS (Jan. 26, 2004)–– An overwhelming 33-2 vote by the South Dakota Senate Thursday that placed the state well along the path to property/casualty rate modernization was lauded by the National Association of Mutual Insurance Companies (NAMIC). ... Read more

Tami Stanton Named NAMIC Northeast State Manager

January 23, 2004 INDIANAPOLIS (Jan. 23, 2004)––The former vice president of the Insurance Institute of Indiana, Tami Stanton, has joined the largest national property/ casualty industry trade association as state affairs manager for the Northeast United States. In colla... Read more

NAMIC Applauds Appointment of Sen. Cain as Louisiana’s New Insurance Committee Chair

January 22, 2004 INDIANAPOLIS (Jan. 22, 2004)––A representative of the largest national property/casualty insurance trade association today applauded the appointment of Republican Sen. James David Cain as the new chairman of the Louisiana Senate Insurance Committee. “Se... Read more

NAMIC Praises Tennessee Call for Workers Comp Reforms

January 22, 2004 INDIANAPOLIS (Jan. 22, 2004)––Gov. Phil Bredesen’s call to action to reform the Tennessee workers’ compensation system this year is welcomed news, a representative of the largest national property/casualty insurance trade association said today. In a sp... Read more

NAMIC Applauds President’s Call to Eliminate Frivolous Lawsuits

January 22, 2004 WASHINGTON (Jan. 22, 2004)––The largest national property/casualty insurance trade association issued the following comment on President Bush’s State of the Union address. Please attribute to David Winston, vice president-federal affairs at the National... Read more

NAMIC Comments on Gov. Romney‘s Call for Reform

January 19, 2004 INDIANAPOLIS (January 19, 2003)—Gov. Mitt Romney's call for reform of the Massachusetts automobile market has been strongly applauded by a representative of The National Association of Mutual Insurance Companies (NAMIC). In his State of the State addres... Read more

NAMIC Market Share Increases to 41 Percent

January 15, 2004 DWP Jumps to $170 Billion as 19 New Companies Join in 2003 INDIANAPOLIS (Jan. 15, 2004) - Combined member company Direct Written Premium (DWP) increased to $170 billion (41 percent of the property/casualty insurance market) during 2003 as 19 new compani... Read more

NAMIC Releases Comprehensive Report on State Efforts to Improve the U.S. Civil Justice System

January 8, 2004 INDIANAPOLIS (Jan. 8, 2004)––An extensive compilation of states legislative efforts to reform the U.S. civil justice system was released today by the National Association of Mutual Insurance Companies (NAMIC). "Arranged by issue and by state, the report... Read more

Insurance Education Foundation Names New President

December 18, 2003 INDIANAPOLIS (Dec. 17, 2003)––Larry L. Forrester has been appointed as the President and CEO of the Insurance Education Foundation (IEF). Recently retired as president and CEO of the National Association of Mutual Insurance Companies (NAMIC), Forrester ... Read more

Accomplished Capitol Hill Veteran to Head NAMIC Federal Affairs

December 5, 2003 Federal Affairs Representative Promoted to Director INDIANAPOLIS (Dec. 5, 2003)--The nation's largest property/casualty insurance trade association has selected a highly successful Washington, D.C., insurance professional to head its federal affairs lob... Read more

NAMIC Applauds FACT Act Passage

November 24, 2003 The National Association of Mutual Insurance Companies (NAMIC) is very pleased that both chambers of the 108th Congress have approved the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). The Senate approved the measure by unanimous consent ... Read more

NAMIC Applauds Passage of Flood Insurance Reform

November 21, 2003 WASHINGTON (Nov. 21, 2003)—The House of Representatives voted overwhelmingly yesterday evening to reform and reauthorize the National Flood Insurance Program (NFIP) before the program expired at year end. H.R. 253, the “Two Floods and You Are Out of the... Read more

NAMIC Applauds Senate Fair Credit Reporting Act Reauthorization

November 5, 2003 INDIANAPOLIS (Nov. 5, 2003)––The National Association of Mutual Insurance Companies (NAMIC) is very pleased that the Senate voted 95-2 to reauthorize the Fair Credit Reporting Act (FCRA) this afternoon. “We compliment Senate Banking Committee Chairman R... Read more

States Can Achieve Competitive Insurance Markets

November 5, 2003 Federal Push Should Motivate State Action INDIANAPOLIS (Nov. 5, 2003)––Congress’ interest in insurance regulation should motivate state policymakers to act to make the insurance marketplace more competitive, according to the nation’s largest property/ca... Read more

NAMIC Names New Vice President of Public Affairs

November 5, 2003 INDIANAPOLIS (Nov. 5, 2003)––The National Association of Mutual Insurance Companies (NAMIC) has named Steve Fushelberger Vice President of Public Affairs. Fushelberger brings extensive public affairs, media relations, advertising and marketing knowledge... Read more

Senate Failure to End Class Action Reform Debate Disappoints NAMIC

October 23, 2003 WASHINGTON (Oct. 23, 2003)— By a count of 59-39 – one short of the 60 votes necessary – members of the Senate yesterday afternoon blocked efforts to end a filibuster on S. 1751, “The Class Action Fairness Act of 2003.” As written, the act would limit th... Read more

Federal Insurance Regulation - The Wrong Answer At The Wrong Time

October 21, 2003 INDIANAPOLIS (Oct. 21, 2003)––While insurance regulation reforms are needed, federal regulation of insurance is the wrong approach, according to the nation’s largest property/casualty insurance trade association. NAMIC, the National Association of Mutua... Read more

NAMIC Urges NCOIL to Exempt Internal Audits

October 17, 2003 INDIANAPOLIS (Oct. 17, 2003)–– An official of the largest U.S. property/casualty insurance trade association has urged the National Conference of Insurance Legislators (NCOIL) to add exclusionary language to the market conduct surveillance model it is c... Read more

NAMIC Asks Regulators Not to Adopt Proposal for Enlarged MD&A Reporting

October 10, 2003 INDIANAPOLIS (Oct. 10, 2003)––A pending proposal to greatly enlarge the statutory “Management’s Discussion and Analysis” should not be adopted by the National Association ofInsurance Commissioners’ (NAIC) Annual Statement Blanks Task Force, the National... Read more

Chuck Chamness Appointed as President of NAMIC at National Convention

September 24, 2003 NEW ORLEANS (Sept. 24, 2003)––Charles M. (Chuck) Chamness was officially appointed as president of the National Association of Mutual Insurance Companies (NAMIC) at NAMIC’s Annual Convention Business Meeting here today. Chamness succeeded Larry L. Forre... Read more

Senate Banking Committee Passes FCRA Legislation-NAMIC Comments

September 23, 2003 WASHINGTON (Sept. 23, 2003)—The Senate Banking Committee favorably reported the reauthorization of the Fair Credit Reporting Act (FCRA) today. Under voice vote, the legislation is intended to amend the FCRA, to prevent identity theft, improve resolution... Read more

NAMIC Convention Kicks Off With General Anthony Zinni, Ceremony of Flags and Speech From NAMIC Chairman of the Board John Fisher

September 22, 2003 NEW ORLEANS (Sept. 22, 2003)––“There aren’t many associations out there that have been having conventions for 108 years,” said Gen. Anthony Zinni to a packed room at the NAMIC convention here this morning. A highly decorated four-star general, Zinni has... Read more

Beverly Fick Selected NAMIC’s Professional Farm Mutual Manager of the Year

September 22, 2003 NEW ORLEANS (Sept. 22, 2003)––Beverly Fick, manager of Bradford Victor-Adams Mutual Insurance, Franklin Grove, Ill., has been chosen as NAMIC’s 2003 Professional Farm Mutual Manager (PFMM) of the Year here today. She was recognized during NAMIC’s Farm M... Read more

NAIC Distributes NAMIC’S Class Action Fair Notice and Market Stability Model Act

September 18, 2003 INDIANAPOLIS (Sept. 18, 2003)––A National Association of Insurance Commissioners (NAIC) working group distributed NAMIC’s new model act designed to restore an insurance company’s ability to rely on the law, without interfering with access to the courts ... Read more

Broker-Dealers as Custodians Get Qualified OK in Close NAIC Vote

September 17, 2003 INDIANAPOLIS (Sept. 17, 2003)––In a 6-4 vote Tuesday the National Association of Insurance Commissioners (NAIC) top-level Financial Condition (E) Committee gave a tentative endorsement to allowing securities broker-dealers to function additionally as cu... Read more

Industry Message on Risk-Based Capital Given Loudly, Clearly to Regulators

September 17, 2003 INDIANAPOLIS (Sept. 17, 2003)––Hearing a unified property/casualty industry tell them their proposal to identify and intervene with financially weak insurers carried undesired consequences, members of a National Association of Insurance Commissioners (N... Read more

Proposed Credit Study Fails to Address Legal Standards of Insurance, Former Regulator Tells NAIC

September 16, 2003 CHICAGO, IL, Sept. 15, 2003 – As the National Association of Insurance Commissioners (NAIC) considered a study of “disparate” or “disproportionate” impact issues surrounding credit-based insurance scoring, a former officer of the association warned an N... Read more

Insurers United in Opposing Increases in Risk-Based Capital Requirements

September 16, 2003 CHICAGO -- Insurance industry trade associations are united in opposing a proposal initiated by the National Association of Insurance Commissioners (NAIC) that would increase the minimum Risk-Based Capital (RBC) requirements for property/casualty insure... Read more

House Passes FCRA Legislation - NAMIC Comments

September 11, 2003 WASHINGTON (September 11, 2003)—Late yesterday, the U.S. House of Representatives passed H.R. 2622, the “Fair and Accurate Credit Transactions Act,” by a vote of 392–30. The legislation amends the Fair Credit Reporting Act (FCRA), to prevent identity th... Read more

NAMIC Advocates Class Action Reform - Urges Senate to Support Key Legislation

September 5, 2003 WASHINGTON (Sept. 4, 2003)—NAMIC expects the full Senate to vote on “The Class Action Fairness Act of 2003,” S.274, as early as Monday. This legislation allows for the removal of certain interstate class action lawsuits to federal court from state court... Read more

NAMIC Urges NAIC Not to Increase Risk-Based Capital Levels

August 26, 2003 INDIANAPOLIS (Aug. 25, 2003)––The National Association of Mutual Insurance Companies(NAMIC) has asked the National Association of Insurance Commissioners (NAIC) not to increase the Risk Based Capital (RBC) risk factor for property/casualty insurance com... Read more

NAMIC Denounces the Damaging Effect of Regulation of Insurance by the Courts; Model Law Proposed to Remedy

August 12, 2003 INDIANAPOLIS (Aug. 12, 2003)—Confidence in the reliability of the law is shattered whenever a court preempts the authority of state insurance regulators, according to a new public policy paper released today by the National Association of Mutual Insuran... Read more

NAMIC Comments on Bay State Auto Rate Regulation Decision

August 12, 2003 STATEMENT INDIANAPOLIS (Aug. 12, 2003)––The National Association of Mutual Insurance Companies (NAMIC) issued the following statement. Please attribute to Neil Alldredge, director--state affairs. "We are disappointed that the commissioner decided to tak... Read more

SVO Replacement Revenue Proposal ‘Blended’ with Numbers Fixed Later

August 7, 2003 INDIANAPOLIS (Aug. 7, 2003)—Two top-level National Association of Insurance Commissioners (NAIC) committees Tuesday unanimously approved general provisions of a plan to replace Securities Valuation Office (SVO) revenue, as ratings activities of the NAIC... Read more

NAMIC Launches Industry’s First Online Salary Survey

August 5, 2003 INDIANAPOLIS (Aug. 5, 2003)—The National Association of Mutual Insurance Companies (NAMIC) has launched the property/casualty insurance industry’s first online salary survey. Covering more than 50 positions, the NAMIC Online Salary Survey offers partici... Read more

House Financial Services Committee Passes FCRA Legislation - NAMIC Comments

July 25, 2003 WASHINGTON (July 25, 2003)—Late yesterday, the House Financial Services Committee, chaired by Rep. Michael G. Oxley, R-Ohio, passed H.R. 2622, the “Fair and Accurate Credit Transactions Act,” by a vote of 61-3. The legislation is intended to amend the F... Read more

HOUSE FINANCIAL SERVICES COMMITTEE PASSES FLOOD INSURANCE LEGISLATION – NAMIC COMMENTS

July 23, 2003 WASHINGTON (July 23, 2003)—Today, the House Financial Services Committee, chaired by Rep. Michael G. Oxley, R-Ohio, favorably passed H.R. 253, the “Two Floods and You Are Out of the Taxpayers’ Pocket Act.” Sponsored by Rep. Doug Bereuter, R-Neb., the le... Read more

National Legislative Organization Endorsement of Competition in Insurance Pricing Gives ‘Significant Momentum’ to State Regulatory Reform Says NAMIC Official

July 23, 2003 INDIANAPOLIS (July 22, 2003)—Today’s endorsement of competition to determine insurance pricing by the nation’s largest organization of state legislatures "sends the strongest message yet that states are prepared to take the responsibility for making the... Read more

House Financial Institutions Subcommittee Passes FCRA Legislation - NAMIC Comments

July 17, 2003 WASHINGTON (July 16, 2003)—Today, the House Financial Institutions and Consumer Credit Subcommittee passed H.R. 2622, the “Fair and Accurate Credit Transactions Act” by a vote of 41-0. The full House Financial Services Committee is expected to take up t... Read more

Senator Hollings Introduces ‘Insurance Consumers Protection Act of 2003’ - NAMIC Comments

July 16, 2003 WASHINGTON (July 15, 2003) Last week, Senator Ernest Fritz Hollings, D-SC, introduced S. 1373, the "Insurance Consumers Protection Act of 2003." The legislation is intended to authorize and direct the Secretary of Commerce, through an independent commis... Read more

Senate Judiciary Committee Reaches Consensus on Asbestos Reform Bill - NAMIC Comments

July 11, 2003 WASHINGTON (July 11, 2003)—Late yesterday, Senators closed in on creating a $108 billion asbestos liability trust fund in exchange for an end to litigation. In the fourth installment of a Judiciary panel markup of the pending asbestos bill, S. 1125, the... Read more

California Bill to Ban Credit-Based Insurance Scoring in Homeowner’s Insurance Defeated, NAMIC Comments

July 10, 2003 INDIANAPOLIS (July 10, 2003)—A state advocate for the National Association of Mutual Insurance Companies (NAMIC) said today that he was pleased that the California State Assembly Insurance Committee voted Wednesday to defeat a controversial credit-based... Read more

NAMIC Advocates Medical Malpractice Reform

July 9, 2003 WASHINGTON (July 9, 2003)—Today, the Senate ended debate and held a vote on legislation to reform medical malpractice lawsuits. S. 11, the “Patients First Act of 2003,” lacked the votes necessary to formally take up the bill that would cap certain damag... Read more

A ‘Consumer’ Federation Should Study Why Americans Pay $721 Yearly ‘Tort’ Tax

July 9, 2003 INDIANAPOLIS (July, 9, 2003)—The National Association of Mutual Insurance Companies (NAMIC) issued the following statement today in response to a Consumer Federation of America press release titled, “NCOIL's Positions Often Have Anti-Consumer Tilt.” Ple... Read more

NAMIC Comments on Administration’s Support of Fair Credit Reporting Act

July 1, 2003 WASHINGTON (July 1, 2003)—The U. S. Treasury issued a statement urging Congress to renew the Fair Credit Reporting Act (FCRA) yesterday. “Secure, reliable information is the lifeblood of all financial services, among which consumer credit is fundamental... Read more

Senate Judiciary Committee Postpones Consideration of Asbestos Reform Bill

June 27, 2003 WASHINGTON (June 27, 2003)—After a day-long session yesterday that ended around 11 p.m., the Senate Judiciary Committee postponed further consideration of S. 1125, the “Fairness in Asbestos Injury Resolution (“FAIR”) Act of 2003” until after the July 4t... Read more

House Passes Class Action Reform Legislation

June 12, 2003 WASHINGTON (June 12, 2003)-This afternoon, the House of Representatives passed class action reform legislation by a vote of 253 to 170. The bi-partisan "Class Action Fairness Act of 2003," H.R. 1115, sponsored by Rep. Bob Goodlatte, R-Va., allows for th... Read more

NAMIC Praises Enactment of New Jersey Auto Reform Measure

June 11, 2003 INDIANAPOLIS – The National Association of Mutual Insurance Companies (NAMIC) applauds New Jersey Gov. James E. McGreevey for affixing his signature to a precedent-setting auto insurance reform package that will change the way auto insurance companies o... Read more

Do Not Reduce Collateral Requirements for Alien Reinsurers, Associaitons Tell NAIC

June 11, 2003 The four property/casualty insurance trade associations, joined by a workers’ compensation and a reinsurance association, have joined together to ask the National Association of Insurance Commissioners (NAIC) to reject any reduction of collateral requir... Read more

NAMIC Urges NCOIL to Create Model Law on Market Conduct Surveillance

June 6, 2003 INDIANAPOLIS (June 6, 2003)—The National Association of Mutual Insurance Companies (NAMIC) today called on the National Conference of Insurance Legislators (NCOIL) to create a model law on market conduct surveillance. NAMIC Market Regulation Manager, Da... Read more

STATEMENT

June 6, 2003 June 6, 2003 The National Association of Mutual Insurance Companies (NAMIC) issued the following statement after yesterday morning’s unanimous vote by the National Association of Insurance Commissioners Securities Valuation Office (NAIC SVO) Oversight W... Read more

NAMIC Comments on Asbestos Litigation Reform

June 4, 2003 WASHINGTON (June 4, 2003)—This morning, the full Senate Judiciary Committee held a hearing on “Solving the Asbestos Litigation Crisis: S 1125, the Fairness in Asbestos Injury Resolution (FAIR) Act of 2003.” Senate Judiciary Committee Chairman Orrin Hatc... Read more

Congress Continues FCRA Reauthorization Process - NAMIC Supports Credit-Based Insurance Scoring

June 4, 2003 WASHINGTON (June 4, 2003)—Focusing on the mechanics of the national credit reporting system and how the Fair Credit Reporting Act (FCRA) affects consumers and the economy, the Subcommittee on Financial Institutions and Consumer Credit of the House Finan... Read more

Let Competition Determine Auto Insurance Premiums NAMIC, Other Trades Tell Bay State Commissioner

June 4, 2003 INDIANAPOLIS (June 3, 2003)—Private passenger auto insurance premiums should be determined competitively and the Massachusetts Division of Insurance should move toward that goal carefully, but expeditiously, wrote the National Association of Mutual Insu... Read more

NAMIC Opposes Two California Bills That Would Increase Homeowners Insurance

June 2, 2003 INDIANAPOLIS (June 2, 2003)—The National Association of Mutual Insurance Companies (NAMIC) opposes two bills that would limit the availability of homeowners insurance for California consumers and increase the price they would have to pay for the homeown... Read more

NAMIC Tells Washington Legal Foundation That Insurance Regulation Best Left to States

May 29, 2003 WASHINGTON (May 29, 2003)—Reformed state regulation of insurance is the most desirable course for the future said a National Association of Mutual Insurance Companies (NAMIC) speaker at a media briefing on “An Optional Federal Charter: The F... Read more

NAMIC Comments on Asbestos Legislation Introduction

May 27, 2003 WASHINGTON (May 27, 2003)—Late last week, Senator Orrin Hatch, R-Utah, introduced legislation to reform asbestos litigation. The “Fairness in Asbestos Injury Resolution (‘FAIR’) Act of 2003” (S. 1125) is intended to create ... Read more

NAMIC Comments on House Judiciary Committee Markup on Class Action Reform

May 22, 2003 Supports House Legislation WASHINGTON (May 22, 2003)—In a committee markup today, the House Judiciary Committee, chaired by Rep. James Sensenbrenner, R-Wis., voted out by a vote of 21–14, H.R. 1115, “The Class Action Fairness Act of 20... Read more

NAMIC Congressional Action Program Announces New Chairman, Vice Chairman

May 19, 2003 WASHINGTON (May 19, 2003)—The National Association of Mutual Insurance Companies (NAMIC) Congressional Action Program (CAP) announced new leadership at its recent Board of Trustees meeting here earlier this month. Bill Siclari, President, The Patr... Read more

NAMIC Comments on Bay State Auto Competition Hearing

May 19, 2003 INDIANAPOLIS (May 19, 2003)––The National Association of Mutual Insurance Companies (NAMIC) and the Independent Property Casualty Insurers of Massachusetts (IPCI) commend Commissioner Julianne Bowler for recognizing that the state’s au... Read more

NAMIC Praises New Jersey Assembly Passage of Auto Reform Measure

May 16, 2003 INDIANAPOLIS (May 16, 2003)–– The National Association of Mutual Insurance Companies (NAMIC) applauds the New Jersey General Assembly’s unanimous approval yesterday of a long-awaited auto insurance reform measure intended to curb the s... Read more

NAMIC Comments on Tax Cut Legislation

May 16, 2003 WASHINGTON (May 16, 2003)—Late yesterday, the Senate passed a $350 billion tax cut package by a 51-49 vote. With three Democrats voting in favor and three Republicans voting against it, the Senate approved a tax cut bill that ultimately included a... Read more

NAMIC Affiliates with New Coalition to Make Louisiana Insurance Market More Competitive

May 12, 2003 More Choices and Increased Availability of Coverage Primary Consumer Benefits Louisiana Senate already passed one coalition provision INDIANAPOLIS (May 12, 2003)––The National Association of Mutual Insurance Companies (NAMIC) is a member of ... Read more

NAMIC Addresses House Action on President’s Tax Cut Package

May 12, 2003 WASHINGTON (May 9, 2003)—The House of Representatives approved President Bush’s tax cut package that could reach as much as $550 billion through 2013, by a 222-203 vote this afternoon. Included in the tax cut package was a proposal to extend... Read more

NAMIC Commends Congress for Beginning FCRA Reauthorization Process

May 7, 2003 WASHINGTON (May 7, 2003)—The Subcommittee on Financial Institutions and Consumer Credit of the House Financial Services Committee will begin a series of hearings on reauthorizing the Fair Credit Reporting Act (FCRA), tomorrow morning. “In it... Read more

NAMIC Agrees With GAO Assessment That Regulators Need to do More to Adopt and Implement Common Standards for Market Analysis and Examinations

May 6, 2003 WASHINGTON (May 6, 2003)— An official of the National Association of Mutual Insurance Companies (NAMIC) said today that his organization agrees with a General Accounting Office (GAO) preliminary report that says state insurance regulators need to ... Read more

New Jersey Assembly Committee Unamimously Passes Auto Reform Bill

May 6, 2003 Assembly Expected to Send Bill to Gov. McGreevey INDIANAPOLIS (May 5, 2003)––The New Jersey Assembly Banking and Insurance Committee voted 7–0 today to pass a long-awaited auto insurance reform measure The full Assembly is expected to ... Read more

NAMIC Comments on Revised Ohio Department of Insurance Credit-Based Insurance Scoring Rule

May 5, 2003 INDIANAPOLIS (May 5, 2003)––Ohio Department of Insurance Commissioner Ann Womer Benjamin re-filed a revised rule (3901-1-55) with the Joint Committee on Agency Rule Review (JCARR), last Friday, regulating how insurance companies use credit-b... Read more

Treasury Issues Final Rules Under Section 326 of the USA PATRIOT Act - No Change for Property/Casualty Insurance Industry

May 1, 2003 WASHINGTON (May 1, 2003)—Under section 326 of the USA Patriot Act, the property/casualty insurance industry remained unaffected in the latest round of proposed rules. Yesterday, Treasury, the Financial Crimes Enforcement Network, and the seven fed... Read more

NAMIC Praises Indiana Lawmakers for Not Using Guaranty Fund Monies to Meet State’s Budget Shortfall

April 28, 2003 INDIANAPOLIS (April 28, 2003)––An official of the National Association of Mutual Insurance Companies (NAMIC) said today that he was thankful that Indiana lawmakers showed restraint this past weekend in not using Indiana Insurance Guaranty Fu... Read more

Indiana Adopts NCOIL Credit-Based Insurance Scoring Model, NAMIC Reports

April 28, 2003 INDIANAPOLIS (April 28, 2003)––Although its fate remained uncertain up to the final hours of this year’s legislation session, Indiana became the latest state to adopt the National Conference of State Insurance Legislators (NCOIL) credi... Read more

Streamline NAIC Securities Valuation Office: NAMIC

April 25, 2003 INDIANAPOLIS (April 25, 2003)––The National Association of Mutual Insurance Companies (NAMIC) responded Wednesday to four proposals by the New York Insurance Department to streamline the NAIC’s Securities Valuation Office (SVO). Michae... Read more

NAMIC Issues Analysis of TRIA Regulations

April 21, 2003 Note to editors: Contact Rick Nelson for NAMIC’s full analysis. INDIANAPOLIS (April 21, 2003)—The U.S. Treasury Department issued a second set of regulations under the Terrorism Risk Insurance Act (TRIA) of 2002, last Tuesday. “These r... Read more

Senate Judiciary Committee Votes for Class Action Reform; NAMIC Supports Committee’s Decision

April 11, 2003 WASHINGTON (April 11, 2003)—The Senate Judiciary Committee approved legislation today for the removal of certain interstate class action lawsuits to federal court from state courts if requested by either plaintiffs or defendants. The Committee app... Read more

NAMIC Supports Open Competition in all States: House Subcommittee Examines Impact of State Regulation on Insurance Availability

April 10, 2003 WASHINGTON (April 10, 2003)—This morning, the House Financial Services Capital Markets Subcommittee, chaired by Rep. Richard H. Baker, R-La., held a hearing to discuss the influence of various state regulations on the availability of personal line... Read more

Shapo Paper on Competitive Rating Significant to National Debate on Reform Says NAMIC Official

April 9, 2003 INDIANAPOLIS (April 8, 2003)––Former National Association of Insurance Commissioners Vice President Nat Shapo’s strongly-worded caution to Texas legislators not to employ government rate regulation to combat the rising cost of homeowne... Read more

NAMIC PRESENTS BENJAMIN FRANKLIN PUBLIC POLICY AWARD© TO MEMBERS OF THE 107TH CONGRESS

April 9, 2003 WASHINGTON (April 9, 2003) – The National Association of Mutual Insurance Companies (NAMIC) today announced the recipients of its Benjamin Franklin Public Policy Award©. Eligibility for this prestigious award is based on roll call votes taken... Read more

United States Supreme Court Ruling Sends Message: Punitive Damages are Excessive

April 8, 2003 WASHINGTON (April 8, 2003)—The U. S. Supreme Court sent a clear message yesterday regarding excessive punitive damage awards when it overturned a Utah jury’s decision by reversing a $145 million punitive damage award against State Farm sayin... Read more

NAMIC Defends Credit-Based Insurance Scoring at Ohio Civil Rights Commission Meeting

April 4, 2003 INDIANAPOLIS (April 4, 2003) – NAMIC State Relations Manager Neil Alldredge addressed the Ohio Civil Rights Commission earlier this week about the use of credit-based insurance scoring. The Commission sponsored a panel discussion at the Fair Housi... Read more

NAMIC Comments on Treasury’s Proposed Interim Rules Terrorism Risk Insurance Act (TRIA) of 2003

April 2, 2003 WASHINGTON (April 2, 2003) – The National Association of Mutual Insurance Companies (NAMIC) submitted comments this week to the Department of Treasury on the first round of interim final regulations of the Terrorism Risk Insurance Act (TRIA). The ... Read more

ALEC Approves NAMIC-Proposed Amendments to Model Drug, Alcohol and Criminal Activity Defense Act

April 2, 2003 LAS VEGAS (April 2, 2003) – The American Legislative Exchange Counsel’s (ALEC) Civil Justice Task Force approved NAMIC-proposed amendments to its “Drug Alcohol, and Criminal Activity Defense Model Act,” at the Spring National Mee... Read more

NAMIC Supports Small Company Tax Inflation-Adjustment Legislation

March 28, 2003 WASHINGTON (March 28, 2003)—Late yesterday, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax... Read more

NAMIC Board Names Chamness Executive Vice President

March 26, 2003 Will Succeed Larry Forrester as President/CEO After Transition INDIANAPOLIS (March 26, 2003) - The Board of Directors of the National Association of Mutual Insurance Companies (NAMIC) appointed NAMIC’s Vice President of Public Affairs Charles M. &... Read more

NAMIC Praises Action to Reform New Jersey Auto Market

March 21, 2003 INDIANAPOLIS (March 21, 2003)––The National Association of Mutual Insurance Companies (NAMIC) praised yesterday’s New Jersey Senate passage of a bill to begin the needed reform of the state’s auto insurance market. By a vote of 2... Read more

New NAIC Task Force Spends Most of its Time in Executive Session

March 12, 2003 INDIANAPOLIS (March 12, 2003)––The National Association of Insurance Commissioners (NAIC) rolled out its new Government Affairs Task Force to interested parties during its spring national meeting Monday in Atlanta, but then quickly went into executive s... Read more

NAIC Accounting Group Tentatively Adopts Interpretation for Treatment of Florida Hurricane Fund Assessments

March 12, 2003 INDIANAPOLIS (March 12, 2003)––A proposal accepted unanimously by the NAIC’s Emerging Accounting Issues Working Group during its meeting Sunday in Atlanta modifies existing statutory accounting to preclude accumulation in insurers’ financial statements ... Read more

Head of Oversight Committee Forwards Plan to Reduce Scope of NAIC SVO Activities

March 12, 2003 INDIANAPOLIS (March 7, 2003)––Although its extent is not yet known, New York regulators are expected at the coming NAIC meeting to introduce a proposal to reduce the scope of securities ratings performed by the NAIC’s Securities Valuat... Read more

NAMIC Proposal Targets Solvency Problem Looming for Florida P/C Insurers With Occurrence of Hurricane

March 10, 2003 INDIANAPOLIS (March 7, 2003)–– A National Association of Mutual Insurance Companies (NAMIC) petition to prevent solvency-threatening liabilities for assessments of the Florida Hurricane Catastrophe Fund (FHCF) is on the NAIC’s agenda f... Read more

Proposal to Reduce SVO Ratings Role Expected to be Part of NAIC Action in Atlanta Meeting

March 10, 2003 INDIANAPOLIS (March 7, 2003)––Although its extent is not yet known, New York regulators are expected at the coming NAIC meeting to introduce a proposal to reduce the scope of securities ratings performed by the NAIC’s Securities Valuat... Read more

Credit-Based Insurance Scores Accurately Predict Future Loss: University of Texas Study

March 10, 2003 ATLANTA (March 9, 2003)––The latest study to examine the use of insurance scores conducted by the University of Texas concludes that scores are predictive of loss. “This should silence the critics that have questioned the correlation b... Read more

NAMIC Advocates Class Action Reform

March 7, 2003 Supports House Legislation WASHINGTON (March 6, 2003)—NAMIC is pleased to announce that class action reform legislation was introduced in the House of Representatives today. This legislation allows for the removal of certain interstate class actio... Read more

NAMIC Responds to NAR’s Homeowners Insurance Allegations

March 6, 2003 WASHINGTON (March 6, 2003)—National Association of Mutual Insurance Companies (NAMIC) Federal Affairs Vice President, Monte Ward, issued the following statement in response to the National Association of Realtors (NAR) media briefing here, regardi... Read more

Auto Insurance and Worker’s Comp Emerge as Leading Issue Trends Among 2002’s New P/C Laws

February 25, 2003 Summary of Survey of New State Insurance Laws Placed Online INDIANAPOLIS (Feb. 25, 2003) - New state laws concerning workers’ compensation and automobile insurance make up the majority of the property/casualty-related insurance laws enacted by sta... Read more

NAMIC Advocates at Insurance Legislators Meeting

February 21, 2003 INDIANAPOLIS (Feb. 20, 2003) - NAMIC will advocate on several issues during the National Conference of Insurance Legislators (NCOIL) meeting that begins today and lasts through Sunday in Savannah, Ga. State Relations Manager Neil Alldredge and Regulator... Read more

NAMIC Announces 2003 Federal Issues

February 13, 2003 WASHINGTON (Feb. 13, 2003)—Today, the National Association of Mutual Insurance Companies (NAMIC) announced its national agenda of federal legislative issues for 2003. Topping the list of federal issues are insurance regulation, class action reform... Read more

House Committee on Financial Services Ratifies Subcommittee Chairs and Memberships as Well as Oversight Plan - NAMIC Comments

February 7, 2003 WASHINGTON (Feb. 7, 2003) - Last evening, the House Committee on Financial Services held its first meeting of the 108th Congress to ratify subcommittee chairs and memberships, as well as adopt committee rules and an oversight plan. “NAMIC looks fo... Read more

NAMIC Comments on Ohio Director Womer Benjamin Praise of Court Ruling Protecting Insurance Consumers

February 7, 2003 Appellate Court Affirms Decision of Lower Court INDIANAPOLIS (Feb. 7, 2003) - Ohio Insurance Director Ann Womer Benjamin praised a recent decision of the 8th District Court of Appeals in Cuyahoga County, which provides protection to Ohio insurance consu... Read more

NAMIC Advocates Class Action Reform

February 6, 2003 Supports Senate Legislation WASHINGTON (Feb. 6, 2003)—NAMIC is pleased to announce that class action reform legislation was introduced in the Senate yesterday. This legislation allows for the removal of certain interstate class action lawsuits to ... Read more

NAMIC Comments on Washington Credit Scoring Report

January 29, 2003 INDIANAPOLIS (Jan. 28, 2002) - National Association of Mutual Insurance Companies (NAMIC) State Relations Manager Neil Alldredge issued the following statement today in response to "Effect of Credit Scoring on Auto Insurance Underwriting and Pricin... Read more

Opt-Out Privacy Notice Standard Should Have Primacy: NAMIC Board

January 22, 2003 INDIANAPOLIS (Jan. 22, 2003) - An opt-out privacy standard should be primary in all insurance jurisdictions because it respects consumer choice, according to the National Association of Mutual Insurance Companies (NAMIC) Board of Directors. “The o... Read more

NAMIC Increases State Advocacy Resources

January 16, 2003 INDIANAPOLIS (Jan. 16, 2003)–– Continuing its expansion of state advocacy, the National Association of Mutual Insurance Companies (NAMIC) has named Joe Thesing, formerly with the Ohio School Boards Association, to the position of State Advoc... Read more

NAMIC’s Industry Knowledge Manager Elected to Society of Insurance Research Board

January 16, 2003 Reps from two NAMIC-member companies also elected INDIANAPOLIS (Jan. 16, 2003) - The National Association of Mutual Insurance Companies (NAMIC) is pleased to announce that Ken Marshall, NAMIC’s industry knowledge manager, has been named to the Boa... Read more

NAMIC Announces 2003 State Issues Agenda

January 8, 2003 INDIANAPOLIS (Jan. 8, 2003)––The National Association of Mutual Insurance Companies (NAMIC) has announced its national agenda of state legislative and regulatory issues for 2003. Topping the list of state legislative issues for next year are... Read more

NAMIC Testifies on Ohio Insurance Department Draft Regarding Credit-Based Insurance Scores

January 2, 2003 The National Association of Mutual Insurance Companies (NAMIC) strongly supported the right of insurers to use credit information in making underwriting and rating decisions, in testimony before an Ohio Department of Insurance hearing Monday in Columbus... Read more