Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Commentary: Does FSOC Understand the Business of Insurance?
Aug 5 2013 // The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S....
R.I. Enacts Auto Body Repair Bill
Aug 5 2013 // Rhode Island Gov. Lincoln Chafee recently signed into law a bill (HB 5263/SB 465) that would prevent insurers from declaring a vehicle a total loss if the vehicle can be restored to its pre-accident condition at a cost...
Delay in Employer Mandate Review is Welcome
Aug 5 2013 // The Obama Administration’s recent decision to delay implementation of the Employer Mandate and reporting requirements in the Affordable Care Act should be viewed as a welcomed move. Namely, it’s an opportunity...
Florida Supreme Court Rules Replacement Cost Includes Contractor’s Profit
Aug 5 2013 // Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite repairs not having been...
Judge Dismisses Lawsuit Against Dodd-Frank by 11 States and Texas Bank
Aug 1 2013 // A lawsuit by 11 states and a Texas bank challenging the Dodd-Frank law’s financial regulation overhaul was dismissed by a federal judge. U.S. District Judge Ellen Segal Huvelle in Washington Thursday ruled that the...
Judge Rejects California Suit Against Timber Co. Over Fire
Aug 1 2013 // A Plumas County judge has dismissed a state lawsuit against California’s largest timber company for a 2007 wildfire that destroyed more than 100 square miles of forest in Northern California. State and federal...
Hawaii Supreme Court Rules on Wrongful Death Suit
Aug 1 2013 // A la Moana Center had a duty to care for a woman who died after getting stuck in an exhaust duct, even though she was trespassing on the roof, the Hawaii Supreme Court ruled. But the opinion also affirms parts of a lower...
Judge Won’t Toss $70M Jury Award Against Las Vegas Sands
Aug 1 2013 // A Hong Kong businessman is one step closer to collecting a multibillion-dollar award from Las Vegas Sands Corp., the largest U.S. casino company. A Nevada judge on Tuesday denied Sands’ request to throw out a jury...
Senate Bill on Chemical Safety Runs Into Roadbloack
Aug 1 2013 // A bipartisan measure on federal toxic chemical standards would undercut state efforts, the head of a Senate committee said in comments that may imperil a compromise to overhaul U.S. consumer-safety regulations. Senator...
New Law Means New Penalties For Minnesota Arsonists
Jul 31 2013 // Costly-to-fight wildfires that are intentionally set in Minnesota will soon carry tougher penalties under a new law. The enhanced arson law was passed in May and goes live on Thursday. It builds off an existing wildfire...
Allied World Launches Multinational Product Initiative
Jul 31 2013 // Allied World Assurance Company Holdings, AG announced the official launch of Allied WorldWideSM, which it described as “a newly created platform designed to meet the insurance coverage needs of multinational...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
Alabama Coastal Residents Bracing for Major Flood Insurance Increases
Jul 30 2013 // Flood maps aren’t due out for Alabama until next December, but the specter of rising flood insurance premiums is undeniable. Congress, seeking to undo the damage done to the National Flood Insurance Program after...
Judge Says Bernanke Should Testify in Greenberg’s Suit Against Bailout
Jul 29 2013 // A U.S. judge said Federal Reserve Chairman Ben Bernanke should be required to testify in the lawsuit by the former chief of American International Group Inc., Maurice “Hank” Greenberg, against the United States...
Aon UK Hosts Operational Risk Modeling Discussion with Bank of England
Jul 29 2013 // Aon UK Limited, the UK arm of Aon plc, which in addition to traditional insurance activities, also provides risk management, human resource consulting and outsourcing expertise, welcomed over 60 senior risk executives from...
Senate Bill Gives Federal Reserve Flexibility on Systemically Important Insurers
Jul 26 2013 // A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American International Group Inc. The...
Judge Blocks Lawsuits Challenging Detroit Bankruptcy
Jul 26 2013 // A federal judge has agreed with Detroit, Mich., and stopped any lawsuits challenging the city’s bankruptcy, declaring his courtroom the exclusive venue for legal action in the largest filing by a local government in...
Tulsa Insurer Files Defamation Lawsuit Against Former Lawmaker
Jul 26 2013 // A Tulsa, Okla., insurance company has filed a defamation lawsuit against former board member and state Rep. Wayne Pettigrew. In the lawsuit, First Trinity Financial Corp. claimed that Pettigrew made false and defamatory...
Former North Carolina Lawmaker Sues Driver, Bar Over Crash
Jul 25 2013 // A former North Carolina legislator who was seriously injured in a 2011 car crash is suing the estate of the man killed in the accident as well as the bar which he says served the victim too much alcohol. The Winston-Salem...
Kansas Fire Marshal Pushing for Stronger Explosives Regulations
Jul 24 2013 // The Kansas Fire Marshal is drawing fire for his efforts to reinstate oversight of the explosive industry in the state. The fire marshal lost legal authority to issue permits to explosive industry operators in 2010, when an...
