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NAMIC Online Press Room

Archive: 2008 | 2007 | 2006 | 2005 | 2004

NAMIC Publications and Media
NAMIC is well-versed in assisting the media and can often provide additional depth to news stories being developed relative to the property/casualty insurance industry. Contact Nancy Grover at (202) 580-6742. E-mail Nancy Grover, or call (202) 580-6742 if you are interested in automatically receiving news releases from NAMIC.
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NAMIC Publications IN magazine Farm Mutual Forum NAMIC Advocacy Update	NAMIC Leadership Bios, Photos, and NAMIC Logos and Graphics Review biographies or download photographs of the NAMIC board of directors and executive staff. Download NAMIC logos or graphics. All NAMIC logos are trademarked. Their use is strictly prohibited unless approved by NAMIC. For permission to utilize any of the corporate or product logos, e-mail your request to Bob Detlefsen.
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NAMIC: Florida Omnibus Insurance Bill Still ‘Fraught with Problems’

Legislation designed to crack down on the insurance industry is not in the best interests of consumers, according to NAMIC. (Posted: 5/1/2008)

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

A proposed rule to allow alien reinsurers to pay reduced collateral amounts would likely create hardships for Florida insurance consumers and companies, according to NAMIC. (Posted: 4/29/2008)

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

NAMIC emphatically disputed claims made today by the Consumer Federation of America that said laws requiring insurers to get advance approval before setting auto rates actually benefit consumers. (Posted: 4/24/2008)

NAMIC Urges Caution on Proposal to Create Federal Insurance Office

Creating a federal insurance information office could be a slippery slope to dual regulation that would ultimately hurt consumers, warned NAMIC. (Posted: 4/17/2008)

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

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 NAMIC. (Posted: 4/16/2008)

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

NAMIC said on Wednesday that legislation going to the Florida House of Representatives would curtail competition and dissuade new insurers from entering the marketplace. (Posted: 4/16/2008)

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

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 NAMIC. (Posted: 4/14/2008)

Insurance Consumers and Companies Will Benefit When Governor Signs Georgia Bills

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. (Posted: 4/7/2008)

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

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 NAMIC. (Posted: 4/3/2008)

Treasury Releases Financial Services Regulatory Blueprint; NAMIC Disappointed with Plan

The Department of the Treasury is poised to release its blueprint for reform of the regulatory structure of the nation’s financial institutions. (Posted: 3/29/2008)

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

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 NAMIC. (Posted: 3/27/2008)

NAMIC: Michigan Proposal Will Increase, Not Decrease Insurance Rates

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. (Posted: 3/20/2008)

NAMIC-opposed Insurance Scoring Ban Bill Dies in Connecticut Committee

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, according to NAMIC. (Posted: 3/17/2008)

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

Hundreds of members of the U.S. Senate and House of Representatives will meet with their constituents in the insurance industry, as the NAMIC Congressional Contact Program gets underway next month. (Posted: 3/17/2008)

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

Legislation aimed at protecting insurance consumers could instead result in higher rates for many policyholders, warned NAMIC. (Posted: 3/14/2008)

NAMIC Urges Congress to Consider Reforms to Agent/Broker Licensing

NAMIC has urged members of Congress to consider legislation that would streamline licensing requirements for insurance agents and brokers. (Posted: 3/13/2008)

NAMIC Appoints Midwest Region State Affairs Manager

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 from St. Louis, Mo. (Posted: 3/11/2008)

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

Georgia auto consumers should see more competition on auto insurance thanks to legislation approved by the state Legislature. (Posted: 3/7/2008)

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

Legislation advocated by NAMIC was passed by the Kansas Senate, taking a significant step toward insurance rate modernization. (Posted: 3/3/2008)

NAMIC Testifies Against Connecticut Anti-Insurance Scoring Measure

NAMIC has 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 motor vehicle insurance premiums. (Posted: 2/28/2008)

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

NAMIC has stressed the importance of quick access to consumers’ credit information as a means of holding down insurance rates. In comments to the Federal Trade Commission, NAMIC said imposing credit freezes without sufficient exemptions would result in higher costs to insurers, with consumers bearing the brunt. (Posted: 2/26/2008)

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

NAMIC on Feb. 21 urged members of a Kansas Senate panel to pass rate modernization legislation. Senate Bill 560 would establish a flex rating system that allows property/casualty insurers to increase or decrease rates within a 12 percent flex band without regulatory approval. (Posted: 2/21/2008)

NAMIC Applauds IRS Decision to Withdraw Controversial Captive Tax Deduction Rule

The Internal Revenue Service’s decision to withdraw the proposed consolidated return regulation is a positive development for the insurance marketplace, according to NAMIC. (Posted: 2/21/2008)

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

Certain proposals meant to address homeowners insurance market developments in Massachusetts’ coastal areas may do more harm than good, according to NAMIC testimony. (Posted: 2/13/2008)

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

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. (Posted: 2/5/2008)

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

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 NAMIC. (Posted: 1/31/2008)

State Approaches to Coastal Insurance Issues Highlight Latest IN magazine

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 over homeowners insurance coverage in Florida, writer Tom Wetzel explores the predictions and payouts should another Category 5 storm or a series of small storms hit the state. (Posted: 1/31/2008)

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

NAMIC issued a statement Wednesday in response to a report from the Government Accountability Office on the insurance industry’s actions following Hurricane Katrina. (Posted: 1/30/2008)

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

NAMIC congratulated the Colorado House of Representatives Tuesday for rejecting the latest effort to ban credit-based insurance scoring for insurance rating and underwriting. (Posted: 1/29/2008)

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

Colorado lawmakers are faced once again with a proposed ban on credit scoring for insurance underwriting, according to NAMIC. (Posted: 1/18/2008)

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

NAMIC issued a statement Thursday in response to allegations by the Consumer Federation of America regarding record profit levels among insurers. (Posted: 1/10/2008)

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

NAMIC expressed concerns Thursday about a draft white paper exploring the impact of climate change on insurance. In its comments to the National Association of Insurance Commissioners, NAMIC criticized the document for recommending that insurance commissioners take steps to lessen the effects global warming will have on insurance. (Posted: 1/10/2008)

News Release Archive: 2008 | 2007 | 2006 | 2005 | 2004

About NAMIC Founded in 1895, NAMIC is a full-service national trade association with more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States. NAMIC members account for 44 percent of the homeowners market, 38 percent of the automobile market, 39 percent of the workers' compensation market, and 31 percent of the commercial property and liability market. NAMIC benefits member companies through advocacy, public policy and member services. Information about the association, its member companies and the property/casualty insurance industry can be found at NAMIC Online, www.namic.org. Not a Member of NAMIC yet? Learn more about NAMIC and the many benefits that membership in the largest property/casualty insurance trade association can offer your company. Learn how your company can become a member of NAMIC. Membership Applications Membership Application Membership Application for Property Casualty Companies Membership Application for Farm Mutual Companies The National Association of Mutual Insurance Companies 3601 Vincennes Road Indianapolis, IN 46268 (317) 875-5250 registrar@namic.org

NAMIC Vision Statement To be the recognized leader in providing association membership value to the property/casualty insurance industry. NAMIC Mission Statement NAMIC strengthens and supports its members and the property/casualty insurance industry by providing effective and high value advocacy, member services and public policy development. Advocacy: Results oriented advocacy of members' interests on key legislative and regulatory initiatives that relies on grassroots member involvement and collaborative advocacy relationships. Member Services: Member directed programs and services providing high quality sources for insurance company operational needs and meaningful education, networking and knowledge sharing. Public Policy: Public policy that anticipates emerging issues and consistently promotes the objective social and economic benefits of the free enterprise system, fair and open competition, and a rational business regulatory environment. NAMIC Shared Values and Beliefs NAMIC values mutuality: Mutual insurance is a successful, stable, and policyholder focused company structure that provides distinct perspective and contributions to the insurance marketplace. NAMIC values member involvement: The insurance industry and this association cannot achieve their potential without the active involvement of competent and committed volunteers. NAMIC values member interaction: Member company staffs build mutually beneficial long-term relationships through knowledge sharing and common experiences. NAMIC values collaboration: Whenever possible, the association seeks to work with industry organizations, regulators, and others to achieve common goals. NAMIC values low cost, highly effective operations: The combination of a high quality staff, proven technology, an issue oriented approach to advocacy, and a core/non-core funding and operations philosophy provides cost-effective association value to our membership. NAMIC values fairness and opportunity in governance: NAMIC boards and committees are open to and composed of individuals from companies that accurately represent the diversity of the association. There are no permanent seats on any association committee or board; every regular company member has an equal voice.