Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Senate Committee Passes Dodd-Frank Relief Bill Without Democrats
May 22 2015 // A bill to ease regulations across the U.S. financial sector passed a Senate committee on Thursday with no support from Democrats, in a setback to the largest overhaul of 2010 banking reforms since the rules were put in...
Legal Ridesharing Comes to Portland…Sort of
May 22 2015 // Uber is operating legally in Portland, for now. A pilot program adopted by the Portland City Council has given transportation network companies the green light to operate for four months, at which time the city council...
Steve Wynn’s Assault on Nevada Free-Speech Raises Yelp’s Ire
May 21 2015 // Steve Wynn’s push for a stronger hand when suing people who badmouth him is being viewed by some, including Yelp Inc., as stacking the deck against free speech. The social media site called on its subscribers to stop...
Uber Facing Another Setback As Texas Passes on Ridesharing Law
May 21 2015 // Uber Technologies Inc.’s attempt to replace a patchwork of local rules in Texas with a state law regulating its car-booking business is headed for defeat because lawmakers have yet to act on a key measure with only...
Takata Agrees to Recall 34 Million Cars for Air Bag Replacement
May 20 2015 // Japanese air bag manufacturer Takata Corp. is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, making it the largest automotive recall in American history, U.S. safety regulators said on...
Solvency II’s Impact and Its Future Analyzed at EIF Conference
May 20 2015 // Solvency II – all 2000 plus pages of it – has been completed and is slated to go into force as of the first of January 2016. As befits a major reorganization of a major EU industry, it took a long time – eight years...
North Carolina Lawmakers Send Bill Targeting Group Home Abuse to Governor
May 20 2015 // The General Assembly has agreed to put new rules in place targeting people who harm group home residents and increasing responsibilities on those who work at the homes to report abuse they see. The Senate agreed May 14 to...
Courts and Carriers Can Misapply the Absolute Pollution Exclusion
May 19 2015 // Never let it be said that an exclusion would or could be misapplied; but the absolute pollution exclusion likely qualifies as the most misapplied exclusion within the commercial general liability (CGL) policy. Reasons for...
IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers
May 19 2015 // The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters...
DIMA CEO on Ireland’s Recovery and Facing Neglected Challenges
May 19 2015 // Sarah Goddard, the CEO of the Dublin Insurance Marketing Association (DIMA), organizers of the European Insurance Forum, took time to discuss some of the issues the re/insurance industry faces, now that it has more or less...
Massachusetts DOI Issues Bulletin on Certificates of Insurance Law
May 18 2015 // The Massachusetts Division of Insurance (DOI) issued a bulletin to provide guidance on the implementation of Massachusetts General Laws Chapter 175L, concerning the issuance of certificates of insurance. Chapter 175L was...
Finance Execs Question Effectiveness of Regulation to Prevent Future Crises
May 18 2015 // Chief executive officers and chairmen of some of Europe’s biggest banks and insurance companies called for more studies on the effectiveness and impact of regulation to prevent financial crises. While macroprudential...
2011 Idaho Lab Radiation Accident Prompts New Lawsuit
May 18 2015 // A new federal lawsuit has been filed involving a 2011 accident at an eastern Idaho nuclear facility that exposed 16 workers to plutonium. The lawsuit was filed Thursday on behalf of Ralph Stanton. It follows up on a 2013...
European Insurance Forum Examines a Changing World
May 18 2015 // With the long journey towards a unified regulatory system for insurance in the European Union – Solvency II – finally appearing to be near its end, the re/insurance industry has realized that even greater...
Ohio Lt. Gov./Insurance Director Taylor Tackles Multiple Roles
May 18 2015 // As Ohio’s lieutenant governor, top insurance regulator and leader of a statewide regulatory reform initiative, it might seem that Mary Taylor’s public responsibilities would often pull in her in conflicting...
Bankruptcy Judge Rejects Freedom Industries’ Chemical Spill Settlement
May 18 2015 // A judge has rejected a $6.7 million bankruptcy plan by the company behind a January 2014 chemical spill in West Virginia. In a federal bankruptcy court filing last week, Judge Ronald Pearson said Freedom Industries and...
West Virginia Supreme Court Rules Addicts Can Sue Pharmacies, Doctors
May 18 2015 // Pharmacies and doctors who negligently prescribed pain medication can be sued for enabling people’s addictions, the West Virginia Supreme Court ruled. The ruling involved 29 people who were patients of Mingo...
Vermont’s New Captive Law Revises Capital Requirements
May 18 2015 // Vermont Gov. Peter Shumlin signed new legislation passed in April that brings several changes to the state’s captive insurance rules – including changes to the investment guidelines to allow “marketable...
N.Y. Enacts New Rules to Rein In Title Insurance Industry
May 18 2015 // New York announced new regulations on title insurers on April 29 that officials say will prevent homebuyers from being charged for inappropriate fees. The proposed rules come after a state investigation found that some...
Insurers Get Ready to Comply With New Mississippi Property Insurance Clarity Act
May 18 2015 // Property insurers in Mississippi have until October 1, 2015 to respond to the Mississippi Insurance Department’s (MID) first call for homeowners’ insurance policy data that will be used to satisfy the...
