Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Solvency II Will Increase Reinsurance Buying Demand: Fitch
Jun 6 2016 // Solvency II will increase insurers’ demand for reinsurance products as they seek to strengthen their capital positions via risk transfer, according to a report published by Fitch Ratings. Reinsurance can help reduce...
New Jersey Regulator: State’s Marketplace Is Strong, Vibrant
Jun 6 2016 // Richard J. BadolatoNew Jersey’s insurance marketplace is strong and continues to grow, with new market entrants bringing more competition and products for the benefit of consumers, the state’s top regulator...
Today’s Farms Need Specialized Environmental Coverage
Jun 6 2016 // Recent court and regulatory actions across the country with regard to environmental pollution exclusions in insurance policies have shown the need among farm owners and other agricultural risks for true environmental...
South Carolina Lawmakers Override Haley’s $40M Farm Aid Veto
Jun 6 2016 // South Carolina lawmakers in both the House and Senate voted to override Gov. Nikki Haley’s veto of a bill offering $40 million in state aid to farmers who lost their crops in last year’s massive floods. The...
Judge Questions Lyft’s Revised Pay Deal with California Drivers
Jun 3 2016 // Lyft Inc. may have more work to do to win court approval of a settlement with 163,000 California drivers who sued to be treated as employees. U.S. District Judge Vince Chhabria in San Francisco on Thursday indicated...
Future of London Market Threatened by ‘Brexit’, Warn Market Leaders
Jun 3 2016 // Brexit poses a grave threat to London’s insurance jobs and businesses, according to the International Underwriting Association of London (IUA), Lloyds, and Richard Brindle, group chief executive officer of...
Financial Industry Files Suit Against Obama Fiduciary Standard for Retirement Plan Brokers
Jun 3 2016 // Wall Street and business lobbying groups have teamed up to fight the Obama administration’s new rules for U.S. brokers managing retirement accounts, saying the regulations include a ” deliberately...
Uber, Cabs Fight Over Upstate New York Market
Jun 2 2016 // A fight over Uber’s plans to expand throughout New York State is escalating as lawmakers enter the final weeks of their 2016 legislative session. The app-based ride-hailing service wants state regulations that would...
Louisiana Lawmakers Pass Lapsed Auto Insurance Payment Plan Bill
Jun 2 2016 // A Baton Rouge lawmaker’s bid to create payment plans for people struggling to pay unpaid fines from lapsed car insurance coverage is headed to the governor’s desk. With a 94-0 vote, the House gave final passage...
Atticus Associates Launches DQPro Platform to Manage Data Quality Challenges
Jun 2 2016 // Insurance technology firm Atticus Associates has launched its data quality platform, Atticus DQPro, with London-based specialty insurer Brit Ltd. as its first customer. “DQPro has been built for the needs of the...
New Mexico Immigrant Driver’s Licenses Jump Before Law Change
Jun 1 2016 // The number of immigrants seeking driver’s licenses in New Mexico surged during the first three months of the year as lawmakers debated changes to a long-contested policy that allowed for those living in the country...
Anbang Withdraws Application for New York Review of FGL Deal
Jun 1 2016 // Anbang Insurance Group Co. withdrew its application to the New York Department of Financial Services to acquire Fidelity & Guaranty Life and plans to refile “in the near future,” according to a regulatory...
EU Guidelines Seek to Limit Crackdown on Uber, Airbnb
Jun 1 2016 // European Union governments should not ban services like home-rental site Airbnb or ride-hailing app Uber except as a last resort, the EU says in new guidelines, seeking to rein in a crackdown on the “sharing...
Tennessee Lawmaker’s Suggestion for Handling Traffic Tickets: Ignore, Burn Them
Jun 1 2016 // A Republican Tennessee lawmaker says getting a traffic camera ticket isn’t a problem – he just burns them. State Rep. Andy Holt set such ticket ablaze on May 26 and posted the video to Facebook. A news release...
NYC Plans to Issue Salt-Warning Fines as Lawsuit Continues
May 31 2016 // New York City plans to start enforcing a first-of-its-kind requirement for chain restaurants to use icons to warn patrons of salty foods after getting an appeals court’s go-ahead on May 26 to start issuing fines. But...
U.S.-EU Continue Talks on Insurance Regulation Covered Agreement
May 31 2016 // Trade representatives for the United States and the European Union, who met May 24 and 25 to negotiate a bilateral covered agreement on regulations for insurers and reinsurers, on Friday issued a joint statement indicating...
China Likely to Adopt Cyber Rules for Insurers Despite Foreign Business Concerns
May 31 2016 // Controversial cyber security regulations for China’s insurance industry, now before the World Trade Organization (WTO), could soon take effect despite efforts by foreign business groups to persuade Beijing to change...
NCCI Seeks to Raise Florida Workers’ Comp Rates by 17% in Light of Court Ruling
May 31 2016 // Florida businesses could soon be paying almost 20 percent more for workers’ compensation coverage. In response to a recent decision from the Florida Supreme Court, the National Council on Compensation Insurance...
PIANY’s Priority Legislation Introduced to Address CE Requirements
May 27 2016 // The Professional Insurance Agents of New York State Inc. (PIANY) said New York State Assembly has introduced a PIANY-drafted bill (A.10378) that would eliminate the need for agents and brokers to take duplicate...
Judge: Plaintiffs in University of Tennessee Discrimination Suit Owed $460K in Fees
May 27 2016 // A federal judge has recommended that former Tennessee associate director of sports medicine Jenny Moshak and two ex-Lady Volunteers strength coaches should recover more than $460,000 in attorneys’ fees as part of the...
