2002 News Release

San Francisco, California, November 24, 2002 – The NCOIL Executive Committee has voted to consider a proposed Approved List of Reinsurers Model Act that would lower collateral standards for non-U.S. reinsurers. The Executive Committee decided to study the measure and give it formal consideration no later than its annual meeting in Santa Fe, New Mexico, in 2003.

San Francisco, California, November 24, 2002The National Conference of Insurance Legislators (NCOIL) adopted on November 22 a proposed Model Act Regarding Use of Credit Information in Personal Insurance, which would regulate how insurers could use consumer credit reports to underwrite and rate personal lines insurance risks.  The action, taken during the NCOIL Annual Meeting in San Francisco, California, comes as some 40 state legislatures prepare to consider insurance scoring legislation next session

Washington, DC, October 17, 2002 — NCOIL President, State Senator William J. Larkin, Jr., of New York announced today that NCOIL has opened its Washington, DC office.  Sen. Larkin said the challenges facing state regulation of insurance and the political realities in Washington were the impetus for creating the Washington office. 

Washington, DC, October 8, 2002 — National Conference of Insurance Legislators (NCOIL) President, State Senator William J. Larkin, Jr., of New York today reiterated NCOIL’s strong support for enactment of a federal terrorism insurance backstop.  In a letter to Senator Paul Sarbanes (D-MD), chair of the Terrorism Insurance Conference Committee, Larkin stressed the vital importance to the national economy of creating a mechanism for federal terrorism insurance.

Albany, New York, October 1, 2002 – An unprecedented September 30 conference call between National Conference of Insurance Legislators (NCOIL) lawmakers and over 25 interested parties revealed that the certified aftermarket crash part debate centers largely on disclosure to consumers and liability against failed aftermarket crash parts.

Albany, New York, August 26, 2002—NCOIL President, State Senator William J. Larkin, Jr., of New York, announced today that NCOIL would establish a Washington office and that Timothy Tucker would head the office and serve as the organization’s representative before Congress and federal executive branch agencies.

Albany, New York, August 24, 2002—On the 10th anniversary of Hurricane Andrew, the National Conference of Insurance Legislators (NCOIL) urged Congress to actively consider pending natural disaster insurance legislation that might ease market concerns following the next natural disaster.

Albany, New York, July 17, 2002 – In an ongoing program to educate state legislators on what they can do about rising prescription drug costs, the National Conference of Insurance Legislators (NCOIL) welcomed Pat Norton, Vice President of Business Development for Citizens Health, to its 2002 Summer Meeting in Boston on July 12. 

July 10, 2002, Boston, Massachusetts – Critical regulatory issues affecting the price and availability of insurance in U.S. and international markets will be up for discussion and debate when state legislators and interested parties from across the country and overseas gather for the Summer Meeting of the National Conference of Insurance Legislators (NCOIL) at the Sheraton Boston this weekend (Thursday, July 11 to Sunday, July 14.)

Albany, NY, July 5, 2002 – The National Conference of Insurance Legislators (NCOIL) will continue a heated debate over certified aftermarket crash parts when legislators convene for the 2002 NCOIL Summer Meeting in Boston, Massachusetts, this July 11 through 14.  Slated for discussion is a proposed Certified Aftermarket Crash Parts Model Act, now the focus of a special Property-Casualty Insurance Committee meeting on Thursday, July 11 from 1:30 to 2:30 p.m.

Albany, NY, June 14, 2002 – In the past 15 years, the long-term care (LTC) insurance market has increased 18 percent annually, making LTC insurance a growth market.  But although the population, aging rapidly and living longer, seems aware that they will have LTC insurance needs, most Americans admit that they have not purchased it.  Save the date.

Washington, D.C., June 4, 2002 – The state insurance guaranty system “has worked well and Congress does not need to fix it, replace it, or establish anything parallel to it,” a leading state lawmaker told a key Congressional Committee here today.

Albany, NY, May 21, 2002 — Steps states and communities can take to save lives and money lost in floods are identified in a new report released today by the National Conference of Insurance Legislators (NCOIL).  The report, entitled Rising Waters, Mounting Challenge – Flood Prevention, Protection and Assistance, shows how states can build disaster resistant communities through improved awareness of flood risks, flood mitigation programs and flood insurance.

Albany, NY, May 21, 2002 — The National Conference of Insurance Legislators (NCOIL) will consider whether states should reduce trust fund requirements for financially secure non-U.S. reinsurers at a Boston, Massachusetts hearing on Thursday, July 11, Rep. David Counts (TX), Chair of the NCOIL International Insurance Issues Committee, announced today.  NCOIL has scheduled the hearing for 2:30 to 5:00 p.m., at the Sheraton Boston Hotel, in conjunction with its July 11 through 14 Summer Meeting.

Albany, NY, May 10, 2002 – Sen. William J. Larkin, Jr. (NY), president of the National Conference of Insurance Legislators (NCOIL), said yesterday that “states are focused as never before on the dual goals of financial modernization and market conduct reform.”  He delivered his remarks at the PricewaterhouseCoopers (PWC) 12th Annual Executive Conference for the Life Insurance Industry at The Plaza Hotel in New York City.

Albany, NY, May 7, 2002 – Sen. James Seward (NY), Chair of the National Conference of Insurance Legislators’ (NCOIL) Life Insurance Committee, announced today that the Committee will hold a hearing on a proposed NCOIL Genetic Discrimination Model Act on Saturday, July 13, at the Sheraton Boston Hotel in Boston, Massachusetts

Reno, NV, March 16, 2002 – New Jersey Assem. Clare Farragher, an NCOIL Past President, testified today in support of continuance of the Interstate Receivership Compact.  The Interstate Insurance Receivership Compact Commission held a hearing on the issue at the Reno Hilton, in conjunction with the National Association of Insurance Commissioners (NAIC) Spring Meeting.

Charleston, SC, February 22, 2002 — Consumer protection issues will dominate debate when state legislators from across the country gather at the Mills House here for the Spring Meeting of the National Conference of Insurance Legislators (NCOIL), February 28 through March 3.

Albany, NY, January 18, 2002 — The National Conference of Insurance Legislators (NCOIL) urged Sen. Charles Schumer (D-NY) in a January 16 letter to reconsider his sponsorship of optional federal chartering legislation that would carry substantial cost implications for states and consumers.