Industry Applauds E-Signature Vote
Saturday, July 15th, 2000 Legislation & Regulation TechnologyFollowing the 426-4 House vote in favor of e-signature legislation, the Senate unanimously passed the bill, leaving the insurance industry confident that it would soon be signed by President Clinton. “Consumers and insurers will soon be able to confidently enjoy the convenience of working together electronically,” said John Savercool, vice president of federal affairs at the American Insurance Association in Washington, D.C. “More than anything Congress does this year, this bill will enable insurers and their customers to take greater advantage of electronic commerce.” The Electronic Signatures in Global and National Commerce Act, S. 761, provides that electronic signatures and records have the same legal effect as written signatures and records, allowing for complete business transactions to take place on the Internet and ensuring that contracts entered into electronically are legally enforceable.
