Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Federal Reserve Approves BB&T and SunTrust Banks Merger
Nov 19 2019 // The Federal Reserve Board on Tuesday approved the application by BB&T Corp. of Winston-Salem, North Carolina, to merge with SunTrust Banks, Inc. of Atlanta, Georgia. The merged entity will be called Truist Financial...
Experts Say Oklahoma’s Insurance Business Transfer Law Will Boost Economy
Nov 19 2019 // An international forum of insurance experts meeting in Tulsa, Oklahoma, said the Insurance Business Transfer law expected to bring an economic boost to the state. The IBT law creates a way for insurers to transfer entire...
House Passes Terrorism Reinsurance Renewal; Senate to Take Up Measure
Nov 19 2019 // The House of Representatives on Monday passed a bill reauthorizing the federal terrorism reinsurance program by a vote of 385-22. The vote came on the Terrorism Risk Insurance Program Reauthorization Act of 2019 (H.R....
Florida’s New Consumer Advocate Tackles Open Hurricane Michael Claims
Nov 19 2019 // Florida’s new Insurance Consumer Advocate Tasha Carter has been busy since taking office August 1. With more than 12,000 Hurricane Michael claims still open, according to the Florida Office of Insurance Regulation,...
West Virginia Judge Asks State Supreme Court to Decide Fate of Church Abuse Case
Nov 18 2019 // A West Virginia judge is looking to the state Supreme Court for guidance after dismissing a case that alleges a Catholic diocese and its former bishop knowingly employed pedophiles. Wood County Circuit Court Judge J.D....
Science, Enforcement Lag as Car Accidents, Claims Rise in Legal Cannabis States
Nov 18 2019 // Car crashes in the first three states to legalize recreational marijuana have soared as law enforcement and regulators struggle to define driving high, let alone determine how to fight it. Colorado, Oregon, and Washington...
Florida Expands Access to Insurtech Services and Devices
Nov 18 2019 // On June 28, 2019, Florida Governor Ron DeSantis signed House Bill 301 into law and, in doing so, loosened regulatory restrictions and allowed insurers and their agents to utilize innovative technologies to reduce perils to...
TWIA Struggles with Rate Making as Policyholders, Lawmakers Object to Higher Costs
Nov 18 2019 // Texas’ property insurer of last resort for wind and hail in counties along the Gulf Coast is finding itself once again between a rock and a hard place — or perhaps more appropriately, between a hurricane and a...
Judge Trims Oklahoma Opioid Penalty on J&J to $465M to Reflect Math Error
Nov 17 2019 // An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million. The...
As Texas Windstorm Insurer Mulls Rates, Policyholders, Lawmakers Strongly Oppose Hikes
Nov 15 2019 // Texas’ property insurer of last resort for wind and hail in counties along the Gulf Coast is finding itself once again between a rock and a hard place — or perhaps more appropriately, between a hurricane and a...
Conn. Supreme Court Finds Insurers Not Liable for Crumbling Foundations
Nov 15 2019 // Insurers are not liable for crumbling foundations caused by defective concrete unless the home is on the verge of collapse, the Connecticut Supreme Court ruled. The decision will likely amplify public pressure for a...
Michigan Car Insurance Fee Dropping by 55% Next Year
Nov 15 2019 // Michigan drivers who want unlimited medical coverage for crash injuries will pay $100 per vehicle starting in July, which will be 55% less than the record-high $220 annual fee they currently pay. The Michigan Catastrophic...
AM Best Comments on California Insurance Co. Ratings Following Regulatory Action
Nov 13 2019 // AM Best on Wednesday said the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of California Insurance Co. and its pooled insurance affiliates, collectively referred to...
How Brokers Influence Specialty Insurance Product Innovation
Nov 13 2019 // In an era of insurance transformation, where process simplification and flawless customer service are expected, innovation in policy and product is a must—especially when it comes to the non-traditional coverage aspects...
North Carolina High Court Keeps Blackbeard Ship Case Over Images Alive
Nov 13 2019 // A treasure hunter who accuses the state of North Carolina of misusing his images from Blackbeard’s flagship says he’ll ask for 10 times the damages he originally sought, now that a court ruling has come down in...
California Town Devastated by Wildfire Rebuilds, But Is It Any Safer a Year Later
Nov 7 2019 // There was “no way in hell” Victoria Sinclaire was rebuilding in Paradise, Calif. She’d thought she was going to die during the six hours it took her to escape the deadliest and most destructive wildfire...
Imagining How Technology Might Transform Risks and Insurance by 2030
Nov 7 2019 // As 2019 wraps up, many in the insurance industry are likely well into planning for the next year. But what about planning for the next decade? While it can be difficult to predict what’s ahead in 10 years, industry...
Scores of U.S. Dams in Poor Condition Pose Danger to Thousands
Nov 7 2019 // On a cold morning last March, Kenny Angel got a frantic knock on his door. Two workers from a utility company in northern Nebraska had come with a stark warning: Get out of your house. Just a little over a quarter-mile...
Philadelphia Fire Highlights Dangers of Old Infrastructure at U.S. Refineries
Nov 6 2019 // How did a piece of piping installed when Richard Nixon was U.S. president go without once being checked before leading to a fire that devastated the East Coast’s largest and oldest oil refinery? That’s a...
Judge Says Vermont Man in Inheritance Fight Contributed to Boat Sinking
Nov 6 2019 // A Vermont man at the center of an inheritance dispute contributed to the 2016 sinking of the boat from which his mother was lost at sea, a federal judge ruled Monday. U.S. District Judge John McConnell issued a written...
