Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Judge Hands Toyota Owners Setback in U.S. Lawsuit Over Losses
Jun 10 2011 // A federal judge said Toyota owners outside California who seek to recover losses in their vehicles’ value resulting from unintended acceleration cannot pursue their claims under that state’s...
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
Florida Judge Questions Tickets in Red Light Camera Debate
Jun 10 2011 // A Broward judge has ruled that law enforcement officers cannot ticket drivers for running red lights. It’s another piece of legal wrangling in the ongoing dispute over red light cameras. County Judge Fred Berman...
Judges Question Individual Mandate in Healthcare Law
Jun 10 2011 // Three federal appeals judges expressed unease with a requirement that virtually all Americans carry health insurance or face penalties, as they repeatedly raised questions about President Barack Obama’s health care...
Judge Signals $32 Million Settlement in Wells Fargo Bias Suit
Jun 9 2011 // A federal judge signaled that she would approve a settlement calling for Wells Fargo & Co. to pay $32 million to about 1,200 female brokers who claimed they were paid less than men and denied promotions because of...
Coal Industry Blasts New Federal Mine Safety Rules
Jun 9 2011 // Coal industry officials this week roundly criticized two sets of new safety rules proposed by federal regulators following an explosion that killed 29 West Virginia miners last year. The West Virginia Coal Association and...
Best Upgrades State Farm General Insurance Co.’s Ratings
Jun 9 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of State Farm General...
Louisiana Group Benefits Chief Resigns
Jun 8 2011 // The chief executive officer of the health insurance office for state employees and retirees, hired by the Jindal administration in April, is resigning after receiving strong criticism from lawmakers about his work to help...
Finance Industry Warns of Transatlantic Discord over Derivative Rules
Jun 8 2011 // Transatlantic sniping by top policymakers could make it harder to agree new rules to crack down on derivatives, derivatives market officials said on Tuesday. “The high policy debate is going in the wrong direction...
Texas Windstorm Insurance Issue Added to Special Session
Jun 7 2011 // Texas Gov. Rick Perry has added legislation relating to the operation of the Texas Windstorm Insurance Association as an issue to be addressed during the special session of the Legislature that began on May 31. “It...
Revival of Illinois Workers’ Comp Bill a Tale of Persuasion
Jun 7 2011 // Everyone on the Illinois House floor was watching the vote climb. 56…57… In the waning hours of the legislative session, lawmakers were considering a huge overhaul of the state’s unwieldy workers’...
Nevada Joins Insurance Product Regulation Compact
Jun 7 2011 // Nevada Gov. Brian Sandoval has signed AB23 enacting the Interstate Insurance Product Regulation Commission (IIPRC). With the addition of Nevada, the IIPRC now has 39 states that have joined the compact, representing more...
Will New Legislation Help Florida’s Property Insurance Market?
Jun 7 2011 // Florida hasn’t been hit by a hurricane since the disastrous years of 2004 and 2005, but the state’s property insurance companies say they are still losing money despite collecting billions in premiums. That has...
Need for Global Insurance Standards Driven by Financial Crisis, Solvency II
Jun 7 2011 // While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but...
Calif. State Fund Seeks to Offer Workers’ Comp in Other States
Jun 6 2011 // California State Compensation Insurance Fund is pursuing legislation to allow it to offer coverage to California employers who have out of state employees. Currently, California-based businesses insured with State fund...
Supreme Court Rules in Halliburton Case
Jun 6 2011 // Halliburton Co. suffered a legal setback Monday when the U.S. Supreme Court refused to make it harder for shareholders to proceed with some class-action securities-fraud lawsuits against publicly traded companies. The...
Agents Warn of Insurance Complications for NYC Contractors
Jun 6 2011 // Insurance agents are warning contractors in New York City that they may not be able to obtain increased coverage requirements called for by city regulations set to go into effect next week. Many of those new coverages are...
Tennessee Approves Cap on Lawsuit Damages
Jun 6 2011 // Tennessee lawmakers have given final approval to a plan to cap non-economic and economic lawsuit damages. The bill (HB 2008) places a cap of $750,000 on non-economic damages such as pain and emotional suffering and a...
Montana State Fund Cuts Rates 20%
Jun 6 2011 // As predicted by Montana Commissioner of Securities and Insurance Monica Lindeen, the board of Montana State Fund, the state’s largest workers’ compensation insurer, has cut its rates by 20 percent. The move is...
Consolidation Concerns
Jun 6 2011 // The big state agency that oversees insurance producers in New York will soon become a whole lot bigger – and that’s left a lot of agents in the Empire State wondering just how it will affect them. Later this...
