Category: Regulatory / Legal

December 8, 2023

U.S. Senator Katie Britt (R-Ala.) and 16 co-sponsors have introduced the “Insurance Data Protection Act” to amend current law and mitigate what they call overstepping by the Federal Insurance Office (FIO) into state-regulated insurance. The bill would prohibit the FIO […]

December 5, 2023

In a landmark decision, the Illinois Supreme Court has granted a major victory for policyholders seeking general liability insurance coverage for construction defect and faulty workmanship claims. For years, Illinois’ intermediate appellate courts rewrote general liability policies to eviscerate coverage […]

December 4, 2023

As per a new report from Reuters, former U.S. Secretary of State Hillary Clinton has called for a reform of the insurance sector at COP28, citing the unavailability of coverage amid a new wave of climate shocks. Speaking during a […]

November 30, 2023

Alabama senator Katie Britt has introduced a new bill that she said would counter recent attempts made by the Federal Insurance Office (FIO) to “overstep into the state-regulated insurance industry.” The Insurance Data Protection Act, which was co-sponsored by 16 […]

November 28, 2023

The New York State Department of Financial Services (DFS) announced that First American Title Insurance Co. will pay a $1 million penalty to New York State for violations of DFS’s cybersecurity regulation stemming from a large-scale cybersecurity breach in May […]

November 20, 2023

Unable to rule on GEICO’s appeal of a Florida district court order that sided with Glassco Auto Glass in its claim payment lawsuit against the carrier, the U.S. 11th Circuit Court of Appeals has sent the case up to the […]

November 13, 2023

The state of West Virginia has agreed to pay $4 million to settle a class-action lawsuit filed by inmates who described conditions at a jail as inhumane, an attorney for the plaintiffs said. Attorney Stephen New disclosed the figure Thursday […]

November 13, 2023

Liability insurers that write in West Virginia and beyond received some unsettling and expensive news from the state Supreme Court last week: Without iron-clad policy language barring coverage, long-tail illness claims must be covered and a carrier has a duty […]

November 8, 2023

Vesttoo is now insisting that there is value recoverable in some reinsurance transactions that were “bona fide”, while at the same time both Vesttoo as the debtor and the creditor committee in the Chapter 11 bankruptcy case, have objected to […]

November 7, 2023

The Florida Office of Insurance Regulation wants property insurers to remember that another deadline for enhanced catastrophe reporting on Hurricane Idalia claims is Nov. 16. The OIR is required by law to collect a range of data on hurricane claims. […]

November 7, 2023

Footwear giant Nike filed federal lawsuits on Monday against rivals New Balance and Skechers, accusing them of infringing patents related to Nike’s technology for making upper portions of sneakers. The lawsuits said that several New Balance athletic shoes and Skechers […]

November 6, 2023

The Texas Legislature this year adopted House Bill 1900, which amends the notice requirements for non-renewal and policy changes in Texas Insurance Code Section 551.105. The statutory changes, effective Sept. 1, increase the notice period from 30 days to 60 […]

November 3, 2023

Ohio law must be used to resolve an insurance dispute involving a polluted site in Michigan caused by manufacturing companies based in Ohio and Indiana, the Ohio Supreme Court ruled Wednesday. The 5-2 decision may force Travelers to turn over […]

November 3, 2023

A consumer advocacy group in California has claimed that a rule introduced by insurance commissioner Ricardo Lara lacks substantial consumer benefits and is marred by “loopholes.” The rule, which is part of a larger reform package set to be implemented […]

November 2, 2023

Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh, responsible. Harvard’s excess insurer Zurich American […]

November 1, 2023

China has taken a move that effectively allows insurance firms to make longer-term investment in shares, adding to a drumbeat of support measures to revitalize the country’s stock market. The Ministry of Finance will from now on evaluate insurers’ return […]

October 30, 2023

Liberty Mutual has agreed to pay around $7.7 million to over 86,000 policyholders for auto and homeowner insurance policies as part of a consent order with the Minnesota Department of Commerce. The order was issued after the insurer was investigated […]

October 30, 2023

The plaintiff was involved in a motor vehicle accident and claims to have sustained serious personal injuries. The plaintiff had $600,000 in underinsured/uninsured motorist coverage with his insurer. The plaintiff settled his primary underinsured claim and the third-party bodily injury […]

October 30, 2023

We keep hearing about how difficult it is for our clients to get property insurance these days, both for homes and businesses in Northern California’s wildfire-prone areas. Which, of course, is most of Northern California. Those who have not yet […]

October 24, 2023

Four Miami insurance agents have been charged with submitting false life insurance applications and collecting commissions from John Hancock Life Insurance Co., state officials said Monday. Alexander Faneites, Nicolas Giraldo Gutierrez, Yuriatsi Carrasco and Yanet Hernandez Suarez gained about $38,000 […]