All the headlines from our Legislation Topic Page, ordered by recency.
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
May 18 2015 // Companies in Alabama would be protected from lawsuits related to products they didn’t make under newly passed legislation. Gov. Robert Bentley on May 1 signed into law a bill that says manufacturers are not liable...
May 18 2015 // Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.”“Congress must now increase its oversight...
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...
May 18 2015 // Protecting clients against growing and poorly understood risks associated with information technology system failures is a leading concern of the insurance industry today, according to a group of prominent underwriters and...
May 18 2015 // The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes.Advocates of Senate Bill...