Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Judge Rejects Citigroup-SEC Mortgage Settlement
Dec 5 2011 // A federal judge blocked Citigroup Inc.’s proposed $285 million settlement over the sale of toxic mortgage debt, excoriating the top U.S. market regulator over how it reaches corporate fraud settlements. U.S. District...
Judge: Transocean Insurance not Available to BP for Oil Spill
Dec 5 2011 // States May Pursue Punitive Damages Against BP and Others. BP has lost two big rulings in its fight to shield itself from potentially having to pay billions of dollars more in damages related to the worst offshore oil spill...
N.Y. Loosens Regulations for Large Commercial Insureds
Dec 5 2011 // New York State Department of Financial Services issued new rules to implement a new state law that deregulates most insurance business for large, sophisticated companies and public entities. The law exempts insurers from...
Nebraska Health Providers Urge State-based Insurance Exchange
Dec 2 2011 // Nebraska should not wait for the U.S. Supreme Court to rule on the Obama administration’s health care overhaul before it prepares a state-based insurance exchange, a leading hospital advocate said. Bruce Rieker, a...
North Carolina Law on Electronics Coverage to Take Effect
Dec 2 2011 // North Carolina companies that sell portable electronics coverage will soon be able to offer insurance under a new state law that is due to take effect at the end of the year. Earlier this year, state lawmakers passed a...
Judge Dismisses Lawsuit Non-U.S. Claims Against Toyota
Dec 2 2011 // Toyota Motor Corp has won the dismissal of a U.S. lawsuit brought by vehicle owners in 14 other countries who said their Toyotas lost value because of the Japanese automaker’s mishandling of alleged unintended...
Judge Allows Indiana State Fair Victims to Form Class
Dec 1 2011 // A federal judge certified all of the victims of the Indiana State Fair concert stage collapse into a single class in a lawsuit challenging a law that caps the state’s liability at $5 million, but she concluded the...
Geithner Hits Attempts to Weaken Wall Street Reforms
Dec 1 2011 // U.S. Treasury Secretary Timothy Geithner said on Thursday that opponents of financial-sector reform were trying to sabotage efforts to strengthen the system against crisis. “With millions of Americans still...
Safety Oversght of Government Aircraft Lacking
Nov 30 2011 // Nonmilitary government agencies operate more aircraft than the world’s largest airline but are subject to little federal safety oversight — a situation accident investigators say has contributed to air crashes and...
Massachusetts Enacts Law on Credit Ban for Auto Insurance
Nov 29 2011 // Massachusetts Governor Deval Patrick signed into law a bill that bans the use of credit in underwriting and rating private passenger motor vehicle insurance in his state. The law, Chapter 195 of the Acts of 2011, was...
Judge Orders Georgia Tornado-Damaged Hotel Demolished
Nov 29 2011 // A city judge in the northwest Georgia town of Ringgold has ordered a tornado-ravaged hotel to be torn down. Judge Gene Lowery said in a hearing last week that the Baymont Inn & Suites is an eyesore and must be...
Florida Looks to Manage State’s Workers’ Compensation Costs
Nov 29 2011 // Florida officials are looking for ways to reduce the state government’s workers’ compensation costs and considering changing some mandates that grant first responders automatic benefits and reducing...
Judge Rejects Citigroup-SEC Mortgage Settlement; Orders Trial
Nov 28 2011 // A federal judge angrily threw out Citigroup Inc.’s proposed $285 million settlement over the sale of toxic mortgage debt, excoriating the top U.S. market regulator over how it reaches corporate fraud...
U.S. Rep. Barney Frank of Massachusetts Won’t Seek Re-election
Nov 28 2011 // U.S. Democratic Representative Barney Frank, who helped to craft the landmark overhaul of financial regulations that bears his name, will not seek re-election in 2012, Democratic aides said Monday. Frank, one of the most...
Massachusetts Lawmakers Weigh Changes to Motorcycle Laws
Nov 28 2011 // Massachusetts lawmakers are weighing changes to the state’s motorcycle laws, including bills designed to ease the requirement that riders wear helmets. Current law requires all riders and passengers to wear...
N.Y. Court Rules on Asbestos Defense Costs for Primary Insurer
Nov 23 2011 // A New York State court ruled last Friday that an asbestos defendant is entitled to full defense from its primary insurer for certain asbestos liabilities, with the primary insurer paying all defense costs for covered...
Federal Judge Sides with Netflix in Antitrust Case
Nov 23 2011 // A U.S. judge granted Netflix’s bid to resolve all claims in its favor before trial in an antitrust class action, in which plaintiffs had sought hundreds of millions of dollars in damages. Netflix was sued in 2009,...
Professional Lines Market Faces Uncertainty: Torus
Nov 22 2011 // The professional liability insurance market will face challenges in 2012 with widespread concerns over pricing, a heightened awareness of the current regulatory environment and fast-emerging new risks for small businesses,...
New York Loosens Commercial Insurance Regulations for Large Insureds
Nov 21 2011 // New York State Department of Financial Services announced on Monday that it issued new regulations to implement a recently adopted state law that deregulates most insurance business for large, sophisticated companies. The...
Kipper’s Back as Nevada Insurance Commissioner
Nov 21 2011 // The second-time commissioner has captives on his mind at the center of a plan to make Nevada more business, and insurance, friendly. Scott Kipper has returned to his role as Nevada’s insurance commissioner, and now...
