Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
ACIC’s Feliciano to Chair California State Bar Insurance Committee
Nov 21 2013 // The business law section of the California State Bar named Armand Feliciano as chair of the Insurance Committee for 2013-2014. Feliciano is vice president of state affairs for the Association of California Insurance...
Kentucky Judge Hits Accounting Firm with $99M Fraud Judgment
Nov 21 2013 // A large Chicago-based accounting firm has been hit with a $99 million judgment stemming from a fraud lawsuit brought by a Kentucky family that owns dozens of hotels and more than a half-dozen casinos around the...
Prospects Dim for Bills to Delay Flood Insurance Rate Hikes
Nov 21 2013 // Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the House Financial Services Committee say they are standing behind...
State Insurance Commissioners Lack Consensus on Cancellations
Nov 21 2013 // Kansas, North Dakota and other state insurance commissioners snubbed a meeting with President Barack Obama set up to discuss allowing some people to keep medical plans that don’t meet the requirements of the U.S....
Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers
Nov 20 2013 // President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as...
Fed Chair Nominee Yellen Vows to ‘Carefully Consider’ SIFI Rules for Insurers
Nov 20 2013 // Federal Reserve Vice Chairman Janet Yellen said the central bank will “carefully consider” how to apply new regulatory standards to insurance companies that fall under the central bank’s supervision. The...
Some Interest in Selling Private Flood Insurance in Florida Surfaces
Nov 19 2013 // With increases in federal flood insurance rates looming, two insurance providers have said they are prepared to sell private flood policies in Florida. Their actions come as state officials are trying to provide guidelines...
Car Makers Offered Relaxed Regulation for Installing Ignition Lock Tied to Seat Belt Use
Nov 19 2013 // A U.S. regulator’s offer to relax auto safety rules for manufacturers that install technology to prevent drivers from starting a car unless seatbelts are fastened drew swift opposition from safety advocates. Cars...
Attorneys Argue Over Oklahoma Workers’ Comp Law
Nov 18 2013 // Oklahoma’s new workers’ compensation law violates the state Constitution in several ways and should be struck down, an attorney for two state lawmakers and a firefighter’s organization told a state...
Mass. AG Files Federal Brief Urging Court Action on Flood Insurance
Nov 18 2013 // In support of a Mississippi lawsuit that alleges the new FEMA flood insurance rates are arbitrary and unlawful, Massachusetts Attorney General Martha Coakley has filed an amicus brief in federal court arguing that FEMA...
Obamacare Woes: Lessons for IAIS
Nov 18 2013 // Global insurance regulators are hopefully paying attention to the fizzling noise coming out of Washington, D.C. It’s the sound of the centerpiece of the President’s signature healthcare law failing to properly...
Florida Rethinking PIP Law After Court Ruling
Nov 18 2013 // Florida lawmakers are taking another look at the future of the state’s no-fault automobile insurance law in light of a circuit court ruling that left open the door to legal challenges. The state’s First...
Colorado Lawmakers Reviewing Flood Response
Nov 18 2013 // Colorado lawmakers are studying responses to September’s catastrophic floods. A legislative panel held its first meeting in November to look at whether there’s a need for legislation to better react to such a...
Oklahoma Superior Court Referee Hears Workers’ Comp Case
Nov 15 2013 // Oklahoma’s new workers’ compensation law violates the state Constitution in several ways and should be struck down, an attorney for two state lawmakers and a firefighter’s organization told a state...
Fitch Ratings: Florida’s PIP Reform Law a ‘Credit Positive’ for P/C Insurers
Nov 15 2013 // New laws designed to reduce loss cost volatility and claims fraud in the Florida no-fault auto insurance system, commonly referred to as PIP, would be a credit positive for property/casualty insurers, according to Fitch...
Google Wins Copyright Scanning Case Against Authors; Judge Finds ‘Fair Use’
Nov 15 2013 // Google Inc. on Thursday won dismissal of a long-running lawsuit by authors who accused the Internet search company of digitally copying millions of books for an online library without permission. U.S. Circuit Judge Denny...
Europe Urged to Retain Climate Leadership As Competitive Advantage
Nov 15 2013 // Europe’s abdication from climate leadership would stunt growth in the region and hand a huge economic advantage to China and the United States as they carve out their share of a multi-billion low-carbon market, a...
Senate Joins House in Passing Compounding Pharmacy Oversight Bill
Nov 14 2013 // The Senate voted Tuesday to advance a bill designed to tighten government oversight of pharmacies that custom-mix prescription drugs, in the wake of last year’s deadly meningitis outbreak tied to contaminated pain...
House Passes Bill Requiring Reporting by Asbestos Victims’ Trusts
Nov 14 2013 // Honeywell International Inc., whose political action committee donates more money than any other corporate PAC, and the U.S. Chamber of Commerce, which spends more to lobby Congress than anyone else, saw long-sought...
European Insurers Welcome Deal on Solvency II Capital Rules
Nov 14 2013 // European insurers breathed a sigh of relief on Thursday that a deal on new capital requirements was less burdensome than initially feared, ending an uncertainty which has been hanging over the sector for many...
