The U.S. Department of the Treasury’s Federal Insurance Office (FIO) today announced the adoption of a methodology for monitoring the affordability of automobile insurance. Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes FIO to monitor the extent to which traditionally underserved communities and consumers, minorities, and low- and moderate-income persons have access to affordable insurance products regarding all lines of insurance other than health insurance. For more information, click here.
On May 13th, 2016, New York Assembly Member William Colton (D-47) introduced A 10157, a bill to incentivize the used of collision avoidance systems through a discount on insurance. Specifically, any schedule or rating plan for non-commercial private passenger automobile insurance will be required to provide for 10% reduction in premium charges for comprehensive coverage, personal injury protection and medical payment coverage with respect to any insured vehicle equipped with a collision avoidance system. To read the full text of the bill, click here.
On April 14, 2016, Pennsylvania’s Governor signed House Bill 1638 into law. This bill will allow an appraiser to prepare a repair estimate based on photographs, videos or telephonic means as well as in-person inspections. To see the full text of the final bill, please click here. To see ASA’s original letter of support, please click here.
New Hampshire Senate Bill (SB) 436, introduced by State Senator Nancy Stiles (R-24) requires an insurer to disclose whether or not an estimate has been prepared based on the use of aftermarket parts. The bill would also prohibit an insurer from requiring or specifying the use of aftermarket parts on certain leased vehicles, vehicles less than 2 years old, or vehicles with fewer than 30,000 miles.
The bill passed the Senate on March 3rd and is scheduled for a public hearing on March 29th.
In a letter to New Hampshire legislature, ASA stated, “We are writing today in support of Senate Bill 436. This legislation is good for consumers, good for shops and consistent with trends in other jurisdictions.” To view the full text of the letter, please click here.
On December 2nd, the Michigan Senate Insurance Committee held a hearing on Senate Bill 430, a bill to amend the insurance code to prohibit insurers from requiring automotive repairers to use a specific vendor or process to procure parts and other materials.
Automotive Service Association (ASA) President Dan Risley joined with ASA-Michigan President Ray Fisher to testify before the Insurance Committee in support of S.B.430.
To read Dan Risley’s full testimony, click here.
To read Ray Fisher’s full testimony, click here.
On July 1, Michigan State Sen. Joe Hune (R-22), chairman of the Senate Insurance Committee, introduced Senate Bill 430, a bill that amends the insurance code to prohibit insurers from requiring automotive repairers to use a specific vendor or process to procure parts and other materials. If enacted, this legislation would effectively end all such requirements in current direct-repair program agreements for Michigan shops.
During these webinars, small business owners will learn the basics of the Affordable Care Act as well as tips on how to navigate the health insurance marketplaces. For more information on how to register, please click here.
On January 8, 2015, ASA joined with several other associations in a letter to House Speaker John Boehner and Minority Leader Nancy Pelosi, urging them to support H.R. 30, the Save American Workers Act of 2015. If implemented, this legislation would repeal the Patient Protection and Affordable Care Act’s (ACA) 30-hour per week full-time employee definition and replace it with a 40-hour per week full-time employee definition. To see the full text of the letter, please click here.
To view the archived webcast or read witness testimony, please click here.
The Housing and Insurance Subcommittee of the U.S. House Financial Services Committee held a hearing on May 20, 2014, to discuss proposals to reform domestic insurance policy. Included in the hearing agenda was the Insurance Data Protection Act, Rep. Steve Stiver’s (R-Ohio) bill to modify the authority of the Federal Insurance Office and the Office of Financial Research to subpoena data from insurance companies.
Under this legislation, federal entities and state regulators must maintain the confidentiality of nonpublic data obtained from or shared with other federal and state regulators.
To see the full text of the bill, please click here: Insurance Data Protection Act.