Three trade associations warn of higher premiums and fewer coverage options as new law takes effect July 1, 2027. Illinois Gov. JB Pritzker signed legislation Aug. 4 giving the Illinois Department of Insurance authority to challenge automobile insurance rate filings it determines are excessive, inadequate or unfairly discriminatory, drawing a joint statement of opposition from […]
REPAIR Act Advances Out of House Subcommittee for Second Consecutive Congress
The legislation now goes before the full House Energy and Commerce Committee for consideration. The U.S. House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade on Feb. 10 approved the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act (H.R. 1566) on a voice vote, advancing the federal automotive right to repair legislation […]
Lawmakers Introduce Bill to Replace Federal Insurance Office
Two Republican congressmen introduced legislation to eliminate the Federal Insurance Office and replace it with a narrower position at the Department of the Treasury, a move backed by a major insurance trade group. The McCarran-Ferguson Restoration Act, introduced by Rep. Troy Downing, R-Mont., a former state insurance commissioner, and Rep. Scott Fitzgerald, R-Wis., would create […]
Illinois Secretary of State Launches Auto Insurance Rate Reform Campaign
Illinois Secretary of State Alexi Giannoulias launched a statewide campaign July 29 aimed at restricting insurance companies from using socioeconomic factors in auto insurance pricing, drawing immediate opposition from industry groups. The “Driving Change” campaign targets the use of credit scores, ZIP codes and age in rate-setting, with Giannoulias arguing that driving records should be […]
Insurance Group Urges Federal Task Force on Staged Car Crashes
The National Association of Mutual Insurance Companies has called on the U.S. Department of Justice to establish a task force to investigate and prosecute staged car crashes used for insurance fraud. NAMIC President and CEO Neil Alldredge sent a letter to Attorney General Pam Bondi requesting the task force, citing the prevalence of coordinated schemes […]
NAMIC Voices Concern Over Data Privacy Draft Legislation
The National Association of Mutual Insurance Companies (NAMIC) is urging lawmakers to address what it believes are significant flaws in privacy legislation approved by a U.S. House subcommittee. The American Privacy Rights Act, approved by the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, seeks to establish a national privacy standard. However, Jimi […]
U.S. House Financial Services Committee Advances Bill to Limit Federal Insurance Office Ability to Subpeona Insurers Directly
On April 17, the U.S. House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), reported 13 pieces of legislation out of Committee to the full House for consideration. Included among the measures is a slate of Congressional Review Act (CRA) resolutions to nullify what it says are a series of regulatory oversteps on the […]
Insurance Associations Applaud Legislation to Eliminate Federal Insurance Office Subpoena Power
The National Association of Mutual Insurance Companies (NAMIC) and National Association of Professional Insurance Agents (PIA) welcomed the introduction this week of the Insurance Data Protection Act in the U.S. House of Representatives they say will protect insurers and the state-based system of insurance from federal overreach by the Federal Insurance Office (FIO). The bill […]
Alfa Mutual Insurance Company Receives NAMIC 10th Annual Award in Innovation
The National Association of Mutual Insurance Companies presented its annual Award in Innovation, sponsored by Guy Carpenter, to Alfa Mutual Insurance Company, headquartered in Montgomery, Ala. With the creation of the Alfa Leadership Academy, the company has been successful in developing emerging leaders, enhancing its company culture, building innovative solutions, and providing exceptional service to […]
Insurance Association Hails Federal Legislation to Preserve Competition in Collision Repair Parts Market
Legislation to preserve competition in the marketplace for aftermarket auto parts will help keep repair costs low by promoting consumer choice, according to the National Association of Mutual Insurance Companies (NAMIC). The Save Money on Auto Repair Transportation, or SMART Act, which was reintroduced last week, would limit the design patent on an auto repair […]