Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Same Day, Different Court Obamacare Subsidies Upheld
Jul 22 2014 // Two U.S. appeals courts reached opposite conclusions on the legality of a key financing provision of the Affordable Care Act, increasing the chance of another showdown at the Supreme Court over President Barack...
Court Rules Against Obamacare Subsidies for Federal Exchange Insureds
Jul 22 2014 // President Barack Obama’s healthcare overhaul suffered a potentially crippling blow as a U.S. appeals court ruled the government can’t give financial assistance to anyone buying coverage on the insurance...
GM Backs Ban on Renting Recalled Cars
Jul 21 2014 // General Motors Co. is the first big automaker to support legislation barring rental-car companies from renting or selling vehicles subject to a recall. GM’s support was announced by bill author Sen. Charles Schumer,...
Judge Declares Mistrial in $1B Trinity Guardrail Case
Jul 21 2014 // Trinity Industries Inc.’s courtroom defense of the safety of its highway guardrails prompted a federal judge to declare a mistrial because of “serious concerns” about a company witness’s...
Rebates, Referrals and Rewards in Texas – What’s OK and What’s Not?
Jul 21 2014 // What are the rules governing insurance agents in Texas on rebates, referrals and rewards, and why do they matter? For starters, at a minimum, an agent could lose their license for violating rules regarding such activities....
Insurance Trade Agreements Are Good for Consumers and Markets
Jul 21 2014 // David SnyderYou can be sure critics are already getting ready to pounce on a preliminary draft of the financial services section of the Trade in Services Agreement (TiSA), invoking the usual rhetoric about the evils of...
Surplus Lines Tax Sharing Solution Still Up for Debate
Jul 21 2014 // Things have changed a bit for the surplus lines industry since the Non-admitted and Reinsurance Reform Act, (NRRA) part of the Dodd-Frank Wall Street reform legislation, passed in 2010. The NRRA’s implementation has...
Firms Dropping Birth Control Coverage Must Inform Employees
Jul 18 2014 // Closely held companies that decide to drop insurance coverage of birth control for religious reasons have 60 days to tell their employees after they end the benefits, the Obama administration said. The Supreme Court ruled...
New York AG Proposes Bill to Blunt Effect of Hobby Lobby Ruling
Jul 17 2014 // New York Attorney General Eric T. Schneiderman and the state’s Senate Democratic Conference Leader Andrea Stewart-Cousins said today they would propose legislation that would help to shield New York women from the...
Senate Passes TRIA Renewal with Broker Licensing Provision
Jul 17 2014 // In a 93-4 vote, the Senate today passed the Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244 ) that extends the federal reinsurance program for seven years. In addition to extending the Terrorism Risk...
New York Regulator Lawsky Proposes ‘BitLicense’ Regulatory Framework
Jul 17 2014 // New York’s financial regulation chief is proposing a “BitLicense” regulatory regime that he says will protect consumers and root out wrongdoing without stifling innovation by virtual-currency businesses...
NAIC Roadshow to Tout State Regulation to U.S., Foreign Policymakers
Jul 16 2014 // The nation’s organization of state insurance regulators is launching an educational program to sell U.S. and foreign leaders and the public on the virtues of the 150-year old state-based insurance regulatory...
Water Wasters in California Could Be Fined $500 A Day
Jul 16 2014 // In one of the most drastic responses yet to California’s drought, state regulators on Tuesday will consider fines up to $500 a day for people who waste water on landscaping, fountains, washing vehicles and other...
House Lawmakers Say ‘Too Big To Fail’ Panel Too Secretive
Jul 16 2014 // Democratic and Republican lawmakers are cooperating on legislation that would lift some of the secrecy around the U.S. council that decides which companies pose the biggest risks to the financial system. The proposed...
Miami Judge Nixes Ban on Lender Suits Against Fontainebleau Officers
Jul 15 2014 // The Fontainebleau Las Vegas LLC bankruptcy trustee may never win court approval for an $83.3 million settlement of lawsuits against former officers, directors and managers. U.S. Bankruptcy Judge A. Jay Cristol in Miami...
NAIC Hiring Consultant to Review Its Decision-Making, Governance
Jul 15 2014 // The national organization for state insurance regulators, which has been telling federal and international regulators how they should govern the industry, has decided to engage a consultant to audit its own governance and...
Former Dewey Law Firm Leaders Ask Judge to Dismiss Criminal Case
Jul 15 2014 // Former leaders of the defunct law firm Dewey & LeBoeuf have asked a New York state judge to dismiss criminal charges against them, saying they should not be made “scapegoats” for the firm’s...
North Carolina Looks to Grow Captive Insurance with Amended Law
Jul 11 2014 // North Carolina Insurance Commissioner Wayne Goodwin said North Carolina is now an even more attractive home for captive insurance companies with the enactment of a law allowing new captive types and providing some...
Judge Allows $1B Malpractice Claim Against PwC Over MF Global Collapse
Jul 11 2014 // A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global...
‘Share’ Economy to Bring Sweeping Changes to Pittsburgh
Jul 10 2014 // Jonathan Danial is a concierge, making sure guests have bottled water, crisp linens and the signature house banana bread — in his home. David Pavel has been a classic limo driver, chatting up his passengers as he...
