Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Global Regulators Expected to Drop ‘Too Big to Fail’ Test for Insurers
Nov 14 2017 // Global financial regulators have decided to ditch a “too big to fail” gauge for assessing the riskiness of insurers, according to a source briefed on the matter, in a big win for companies such as American...
Defense Bill Would Revive Civilian Drone Registration Requirement
Nov 13 2017 // The government’s registration system for owners of civilian drones would be restored in a defense policy bill agreed to by House and Senate negotiators. The measure boosting aviation regulators’ ability to...
Special Reuters Report: The Path to Monsanto’s Weed-Killer Crisis
Nov 9 2017 // In early 2016, agribusiness giant Monsanto faced a decision that would prove pivotal in what since has become a sprawling herbicide crisis, with millions of acres of crops damaged. Monsanto had readied new genetically...
How Cabbies Are Morphing Into Hybrid Taxi-Ridesharing Firms
Nov 8 2017 // Taxi companies across the U.S. waged a bitter, high-profile battle to keep Uber Technologies Inc. and Lyft Inc. from bringing the sharing economy to cabs. They lost. Now the cabbies are adopting a...
Insurtech-Led TPA, Advent Claims, to Administer Claims for Principia Underwriting
Nov 8 2017 // Advent Claims, the insurtech-led claims third party administrator (TPA), announced it has signed an agreement to administer all claims for Aquila Underwriting-backed MGA, Principia Underwriting. Principia, which previously...
AOB Abuse Tops Agenda at Florida Chamber Insurance Summit
Nov 7 2017 // The Florida Chamber of Commerce brought together regulators, lawmakers, insurance industry executives and other stakeholders last week for the chamber’s annual insurance summit. Through several panel discussions on...
Tough Road for Trucking Insurance Specialists
Nov 7 2017 // Trucking serves as a barometer of the U.S. economy, representing 70.6 percent of all domestic freight transportation tonnage and $676 billion, or 79.8 percent,of transportation revenues in the country. Despite the...
Connecticut Lawmakers Create ‘Insurance Company’ to Help Homeowners
Nov 7 2017 // Connecticut legislators are looking to help hundreds, if not thousands, of homeowners whose foundations are crumbling because of an iron sulfide found in the concrete by creating the state’s own insurance...
Regulation Not the Answer to Cyber Threats: Federal Reserve Official
Nov 7 2017 // More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. “I don’t think the solution to the cybersecurity problem rests in...
Auto Insurance Reform Bill Defeated in Michigan House
Nov 6 2017 // A bill to reduce auto insurance premiums was defeated late on Nov. 2 by the Michigan House, another blow for longstanding efforts to rein in medical costs contributing to the highest average rates in the country. After...
People
Nov 6 2017 // Independent Insurance Agents of Georgia (IIAG) announced that John Barbour, formerly vice president of Governmental Affairs, was chosen to serve as new chief executive officer. Barbour began leading the association on...
People
Nov 6 2017 // Dallas-based independent insurance brokerage RHSB has named Julia Miller Spracklen J.D. as chief operating officer and Courtney Woodruff as senior vice president in its Commercial Lines Division. Additionally, John Losurdo...
Interim Charges for Texas Lawmakers Focus on Harvey’s Impact
Nov 6 2017 // In laying out the interim committee charges for the next legislative session, which will begin in January 2019, Texas House Speaker Joe Straus focused on Hurricane Harvey’s impact on the state. Almost every House...
DFS Finalizes Regulation to Strengthen New York No-Fault Insurance Law
Nov 6 2017 // A new regulation issued by the New York State Department of Financial Services (DFS) aims to curb costs and abuses of New York’s no-fault insurance law while leveling the playing field for New York insurers,...
New York Finalizes Regulations to Crack Down on Title Insurance Industry
Nov 6 2017 // The New York Department of Financial Services (DFS) has finalized two regulations to protect New Yorkers and crack down on unscrupulous practices in the title insurance industry. These regulations, which are the...
Trump Signs Order Curbing Consumer Class Actions Against Banks
Nov 2 2017 // President Donald Trump signed a Congressional resolution on Wednesday that lets banks block customers from filing class action lawsuits, partly delivering on his election campaign promise to lighten U.S. financial...
Anderson Appointed as Commissioner of Massachusetts Division of Insurance
Nov 2 2017 // Governor Charlie Baker has appointed Gary D. Anderson as commissioner of the Massachusetts Division of Insurance (DOI), a regulatory agency under the Office of Consumer Affairs and Business Regulation. Anderson has served...
California Lawmaker Wants to Correct Comp Denial for Out-of-State Cops Who Responded During Vegas Shooting
Nov 1 2017 // A California lawmaker said he plans to introduce a bill that would require worker’s compensation for police officers injured while responding to crimes committed out of state. The proposal by Assemblyman Tom Daly,...
Artificial Intelligence Poses Risks to Insurers, Banks, Warns Global Regulator
Nov 1 2017 // Replacing bank and insurance workers with machines risks creating a dependency on outside technology companies beyond the reach of regulators, the global Financial Stability Board (FSB) said on Wednesday. The FSB, which...
Key Metrics of New York Workers’ Comp System Tracked in New WCRI Study
Oct 31 2017 // The Workers Compensation Research Institute (WCRI) released a new tool for policymakers and system stakeholders to track the performance of the New York workers’ compensation system. “Originally established to...
