Iowa News

BENEFIT MANAGERS’ DISCLOSURE BACKED:

A federal judge has sided with the state of Maine in an industry challenge to the constitutionality of a state law that requires pharmacy benefit managers to disclose side payments from drug companies and other financial information. U.S. Magistrate Judge …

TWCC Approves Self-Insure Certificates of Authority for 18 Companies

The Texas Workers’ Compensation Commission reported it approved the initial application for a Certificate of Authority to Self-Insure for a one-year period by one private employer and the reapplications for Certificates of Authority to Self-Insure for a one-year period by …

PCIA Tells NAIC: SOX Compliance Could Cost Non-Public Insurers $1 B Annually

A spokesman for the Property Casualty Insurers Association of America told a National Association of Insurance Commissioners panel today in Orlando that a proposal to apply new requirements based on the Sarbanes-Oxley law to non-public insurers could cost companies and …

Federal Judge Backs Maine Law Requiring Compensation Disclosure by Benefit Managers

A federal judge has sided with the state of Maine in an industry challenge to the constitutionality of a state law that requires pharmacy benefit managers to disclose side payments from drug companies and other financial information. U.S. Magistrate Judge …

People & Places

Andy Schor Michigan Office of Financial and Insurance Services Commissioner Linda A. Watters named Andy Schor as the new public information officer. As PIO, Schor’s responsibilities will be to share the priorities and initiatives of OFIS with the public. He …

Iowa Insurers Caught Like Deer in Headlights by Levy Request

DES MOINES, Iowa–A group of Iowa politicians wants the insurance industry to impose a levy on automobile policies to help fund a program to thin deer populations and decrease accidents they cause. Sen. Dennis Black (D-Newton) and other members of …

IIAT’s Joe Vincent Seminar, Legislative Day Set for Jan. 30-Feb. 1

More than 400 of the state’s top independent agency principals and managers are expected to gather Jan. 30-Feb. 1, 2005 for Independent Insurance Agents of Texas’ 42nd Annual Joe Vincent Management Seminar and Big I Legislative Day at the Renaissance …

REFUNDS FOR DAMAGED VEHICLES:

Texas Attorney General Greg Abbott signed a settlement ensuring refunds totaling up to $10 million to Texans who unknowingly purchased vehicles that were previously damaged and deemed total losses by State Farm Mutual Automobile Insurance Co. The company, which voluntarily …

First Acceptance Corp. Clarifies Confusion With Iowa-Based Insurer That Filed Chapter 11

First Acceptance Corp., whose insurance subsidiaries provide nonstandard private passenger automobile insurance and operate in many states under the trade name “Acceptance Insurance,” said “it is not affiliated nor involved in any manner” with Iowa-based Acceptance Insurance Cos. Inc., which …

Iowa Insurers Caught Like Deer in Headlights

DES MOINES, Iowa — A group of Iowa politicians wants the insurance industry to impose a levy on automobile policies to help fund a program to thin deer populations and decrease accidents they cause. Sen. Dennis Black (D-Newton) and other …