Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
New York DFS Becoming ‘National Player’ Among Insurance, Banking Regulators
Apr 7 2014 // On a June morning in 2012, New York bank examiners paid surprise visits to the offices of Ocwen Financial Corp., the biggest non-bank mortgage servicer. That break with tradition — examiners typically set up...
Florida Senate Passes Parasailing Insurance Bill
Apr 7 2014 // Parasailing in Florida moved closer to becoming a regulated industry lat week, with the Senate approving a bill that would place safety guidelines on companies. The legislation details insurance, equipment and license...
Florida Sees Drop in Auto No-Fault Questionable Claims
Apr 7 2014 // A national study found that Florida has seen its first decrease in questionable automobile claims since state lawmakers rewrote the no-fault law in 2012. The National Crime Insurance Bureau conducted the report that looked...
Delaware Bill Adds Teeth to Certificate of Insurance Rules
Apr 7 2014 // Delaware legislature on March 25 passed HB 104 (“An Act to Amend Title 18 of the Delaware Code Relating to Certificates of Insurance”) that aims to curtail the improper use of certificates of...
With Fix for Flood Insurance Program Deficit Delayed, Now What?
Apr 7 2014 // There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress does have some options that could make the troubled program...
With Fix for Flood Insurance Program Deficit Delayed, Now What?
Apr 7 2014 // There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress has options that could make the troubled program financially stable,...
Backers Drop Arizona Legislation on Workers’ Comp Benefits
Apr 7 2014 // Business-backed legislation to prohibit workers from filing lawsuits alleging they were unfairly denied workers’ compensation benefits for on-the-job injuries is going nowhere in the Arizona Legislature. Supporters...
Declarations
Apr 7 2014 // Consumer Recoveries “We are constantly working to streamline regulations, cut red tape and expand the banking and insurance markets, but when our licensees violate our laws and regulations, we take action and hold...
P/C Reinsurance Market Softer Due to Alternative Capital: Execs
Apr 7 2014 // A new survey from Towers Watson confirms that more than half (55 percent) of property/casualty insurance chief financial officers believe the property reinsurance market is softer than the primary market, while about...
Canadian Pacific Backs Insurance Mandate for Firms Shipping Oil by Rail
Apr 4 2014 // Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada’s second-largest rail operator...
West Virginia Storage Tank Safety Bill Signed Into Law
Apr 4 2014 // West Virginia Gov. Earl Ray Tomblin has signed legislation imposing new safeguards on above-ground storage tanks and water systems in response to a Jan. 9 chemical spill in Charleston. The Water Resources Protection Act...
U.K. Financial Markets Watchdog Under Fire for Insurance Leak
Apr 3 2014 // The U.K.’s top financial conduct watchdog’s first birthday today was marred by complaints from the government and lawmakers about its handling of a leak that sent shares in insurance companies tumbling last...
GM CEO Barra Has Few Answers on What Went Wrong
Apr 2 2014 // General Motors Co CEO Mary Barra on Tuesday called her company’s slow response to faulty ignition switches linked to at least 13 deaths “unacceptable,” but could not give U.S. lawmakers many answers as to...
Federal Judge in Pittsburgh Orders $1.54B Payout in Marvell Patent Verdict
Apr 1 2014 // A federal judge ordered Marvell Technology Group Ltd to pay nearly $1.54 billion for infringing two hard disk drive patents held by Carnegie Mellon University, nearly one-third more than a jury had previously awarded. In a...
Judge Cuts Billionaire Koch’s $12M Award in Fake Wine Case to $1M
Mar 31 2014 // Billionaire William Koch’s $12 million damages award in a lawsuit accusing a fellow wine collector of selling counterfeit Bordeaux was reduced by a U.S. judge to a little less than $1 million. The punitive damages a...
Poll’s Preemptive Strike Against Colorado Rideshare Bill
Mar 31 2014 // Days before a key vote in Colorado Legislature on ridesharing regulation a large insurer has come out with a poll that shows the majority of Coloradans believe rideshare companies should cover their drivers with commercial...
Arizona Joins Fray Over Ridesharing Services
Mar 31 2014 // Arizona has joined a number of states debating how to regulate so-called ridesharing programs that have popped up around the country and riled traditional taxi and limousine establishments. An amendment to an unrelated...
South Dakota Judge: No Dismissal of $1.2B ‘Pink Slime’ Defamation Suit
Mar 31 2014 // A South Dakota judge has refused to throw out a defamation lawsuit against ABC related to its coverage of a meat product called lean, finely textured beef, which critics have dubbed “pink slime.” Beef Products...
Wisconsin Governor Signs Controversial Asbestos Lawsuit Bill
Mar 31 2014 // Gov. Scott Walker quietly signed into law a bill that critics say would delay and deny justice to those who seek damages in court after falling ill from exposure to asbestos. The asbestos bill, which was introduced last...
Scooter Law Stronger in Indiana but Still No Insurance Requirement
Mar 31 2014 // Drivers of motorized scooters in Indiana will face tighter regulations under a measure signed into law by Gov. Mike Pence, although an insurance requirement is not among them. The new law will require scooter operators to...
