Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Contingent Commissions Legal, N.Y. Court Rules
Jul 7 2008 // In a twist to a scandal that has rocked the insurance industry over the last several years, a New York appeals court has ruled that contingent commissions paid out by Boston-based Liberty Mutual Group Inc. are not...
National Insurer Wants to Include Flood Coverage in Home Policies
Jul 7 2008 // One of the nation’s largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid...
Court Rules Contingent Commissions Legal
Jul 7 2008 // In a twist to a scandal that has rocked the insurance industry over the last several years, a New York appeals court has ruled that contingent commissions paid out by Boston-based Liberty Mutual Group Inc. are not...
Less Regulation is ‘More,’ PCI Ceo Says
Jul 7 2008 // David Sampson, CEO of the Property Casualty Insurers Association of America (PCI), thinks most public policy makers want to do the right thing but they too often get hung up on clouded rhetoric and misleading media...
National Insurer Wants to Include Flood Coverage in Home Policies
Jul 7 2008 // One of the nation’s largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid...
California Considering Pay-As-You-Drive Auto Insurance
Jul 7 2008 // Price at the Gas Pump Spurring Assembly Bill, DOI Regulation California’s Department of Insurance as well as state legislators are considering bringing pay-as-you-drive automobile insurance to the state, a system in...
Texas High Court Rules Contractor Not at Fault in Jail Death
Jul 3 2008 // The Texas Supreme Court has ruled that the descendents of a man who was found hanged with a telephone cord in a jail cell have no standing to recover damages from the contractor that supplied the telephone. In JCW...
Prosecutors Seek Joint Trial for La. Lawmaker Linked to Insurance Scam
Jul 2 2008 // A Louisiana state senator should be tried alongside the woman he allegedly helped launder money to hide her illegal operation of an insurance business, prosecutors argue in court papers filed June 30, State Sen. Derrick...
New York Governor Signs Flex-Rating and NYPIUA Bill
Jul 2 2008 // New York Governor David Paterson has signed into law industry-sought legislation that brings back flex rating for auto insurance and makes permanent New York’s homeowners insurer of last resort. The flex-rating...
Walter Bell Appointed to Bermuda Monetary Authority’s Board
Jul 1 2008 // The Bermuda Monetary Authority (BMA) announced that it has appointed Walter A. Bell to a position on its Board of Directors, as its first international member. The BMA regulates financial services for Bermuda-based...
Lloyd’s on ‘Rogue Traders’
Jul 1 2008 // It appears the “rogue” trading in the investment banking industry may not be an isolated problem. After Jerome Kerviel cost French bank Société Générale to book some $5 billion in losses, Morgan Stanley...
Mississippi Judge Rejects Punitive Damages Bid by Pascagoula Couple
Jul 1 2008 // A Jackson County judge won’t let a jury consider punitive damages in the case of a Pascagoula couple who sued their insurer for unpaid Hurricane Katrina damages. USAA had paid the Lisanbys $46,000 for their wind...
Insurance Tax not Enough to Support West Virginia Fire Departments
Jun 30 2008 // As gas prices soar, the costs of running a volunteer fire department are rising. Now West Virginia legislature and the counties are debating over who will pay the rising costs of the state’s 424 volunteer...
Judge Dismisses Insurance Executive’s Lawsuit against Alabama Governor
Jun 30 2008 // A judge dismissed most of a lawsuit in which an indicted insurance executive accused Alabama Gov. Bob Riley and others of conspiring to drive him out of the insurance business. Montgomery Circuit Judge Truman Hobbs Jr....
New York Court Orders Release of Anti-Redlining Report
Jun 30 2008 // New York’s top court has ordered the release of insurance company reports showing automobile policies broken down by zip code so Brooklyn officials can determine whether neighborhoods were deemed high-risk and...
Nationwide Insurance Pushes to Include Flood Coverage in Home Policies
Jun 27 2008 // One of the nation’s largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid...
North Carolina Lawmakers Consider Restricting Pickup Bed Riding
Jun 26 2008 // A North Carolina House judiciary committee approved a plan to further restrict riding in open pickup truck beds. House Bill 2340 prohibits anyone under age 16 from riding in the flatbed of a pickup truck. Current law...
Judge’s Ruling Clears Way for Insurance Settlements in Louisiana
Jun 26 2008 // A ruling by a federal judge in New Orleans has cleared the way for thousands of Louisiana Road Home applicants to settle claims against their insurance companies, a lawyer for hundreds of homeowners said. An order issued...
Insurers and Agents Applaud New York Auto Rating Change
Jun 26 2008 // Trade groups for New York insurers and agents alike are praising a recently passed bill by state lawmakers that will allow auto insurers to raise or lower their rates by 5 percent over the course of a year without first...
Supreme Court Rules $2.5 Billion Exxon-Valdez Damages Excessive
Jun 25 2008 // The Supreme Court Wednesday overturned the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska. The nation’s highest court ruled that...
