Top

Category: Regulatory / Legal

Regulatory / Legal


Regulatory / Legal

The Impact of Pre-Existing Conditions on Personal Injury Claims in Florida

May 15, 2024

Via: JD Supra

If you’ve suffered any type of personal injury that leaves you with large medical bills, lost wages, pain and suffering, and other damages, you may be able to file suit against the insurance company of the negligent party. But one […]


Regulatory / Legal

Louisiana Governor signs insurance reform bills to stabilise property market

May 9, 2024

Via: Reinsurance News

Governor of Louisiana, Jeff Landry, alongside Commissioner Tim Temple, Senate Insurance Chairman Kirk Talbot, House Insurance Chairman Gabe Firment, and other lawmakers, signed four insurance reform bills at the State Capitol aimed at stabilising Louisiana’s property insurance market. Landry expressed […]


Regulatory / Legal

Hong Kong targets insurance-linked securities co-operation with Shanghai

May 7, 2024

Via: Artemis BM

Hong Kong and the mainland China city and financial hub of Shanghai are looking to co-operate on a range of financial initiatives, with one of them being insurance-linked securities (ILS). Representatives of the respective governments, financial regulators and exchanges met […]


Regulatory / Legal

Final Rules Overturn Trump Era Health Benefit Rules

May 6, 2024

Via: JD Supra

As expected, the Biden administration has issued final rules that overturn regulations adopted under the prior administration on association health plans and short-term, limited-duration insurance (STLDI). The new rules restore rules that were in effect prior to the adoption of […]


Regulatory / Legal

Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases

April 29, 2024

Via: Insurance Journal

The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the much-debated statute. In answering a […]


Regulatory / Legal

Regulators to increase US life insurers’ capital risks transparency, use of offshore reinsurance a concern: Moody’s

April 24, 2024

Via: Reinsurance News

In its latest US Life & Health Insurance update, Moody’s analysts have highlighted improving capital risks transparency as regulators top priority as well as their concern regarding the increase in the use of offshore reinsurance by life insurers. “This year […]


Regulatory / Legal

Investment Funds File New Suits Over Lighthouse Insurance Collapse in 2022

April 23, 2024

Via: Insurance Journal

Three investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known […]


Regulatory / Legal

Auto Insurer’s $10M Fraud Claims Against Doctors Are Subject to Arbitration, Court Rules

April 19, 2024

Via: Insurance Journal

A federal appeals court has sided with three chiropractors in ruling that claims under New Jersey’s personal injury protection statute concerning insurance fraud are subject to arbitration. GEICO has lost its bid to pursue litigation alleging fraud against the chiropractors. […]


Regulatory / Legal

Bipartisan bill seeks to reinstate inflation adjustment for crop insurance agents

April 18, 2024

Via: Insurance Business

The “Ensuring Access to Risk Management Act of 2024” has been introduced in the US House of Representatives, aiming to address compensation issues for crop insurance agents by reinstating an inflation adjustment that was halted in 2016. The bipartisan bill, […]


Regulatory / Legal, Risk Management, Trends

Insurance orgs split on AI ethical risks – Airmic

April 10, 2024

Via: Insurance Business

In a recent survey conducted by Airmic, it was revealed that 59% of participants view the ethical concerns posed by artificial intelligence (AI) as part of a broader category of ethical risks within their organisations. The findings also showed a […]


Regulatory / Legal

Florida insurance market continues to strengthen following impactful legislation: OIR

April 4, 2024

Via: Reinsurance News

The Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on the property insurance market, according to the state’s Insurance Commissioner Michael Yaworsky. Yaworsky’s comments stem from the Florida Office of Insurance Regulation’s (OIR) […]


Regulatory / Legal

Significant Legislative Changes for North Carolinians Injured in Car Accidents

March 22, 2024

Via: JD Supra

In 2023, North Carolina passed notable legislative changes to the State’s car insurance laws, increasing the minimum limits on liability insurance policies for the first time in nearly 25 years and removing the setoff for underinsured motorist (UIM) policies. The […]


Regulatory / Legal

FEMA secures a further $575m of flood reinsurance for NFIP

March 11, 2024

Via: Reinsurance News

The U.S. Federal Emergency Management Agency (FEMA) has obtained reinsurance coverage through insurance-linked securities (ILS) reinsurance for the seventh time by entering a three-year reinsurance agreement, securing $575 million of coverage for the National Flood Insurance Program (NFIP). FEMA entered […]


Regulatory / Legal

US Treasury Drops Plan to Collect Insurer Data on Climate Risks

March 8, 2024

Via: Insurance Journal

The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort […]


Regulatory / Legal

NC Appeals Court Gives Green Light to Liquidation of Lindberg Insurance Firms

March 6, 2024

Via: Insurance Journal

Former North Carolina insurance and business mogul Greg Lindberg has lost an appeal on whether one of his companies can delay the liquidation of two of his troubled life insurance carriers. North Carolina Insurance Mike Causey said the March 5 […]


Regulatory / Legal

National General allegedly used information unrelated to claims to drop policyholders

February 21, 2024

Via: Repairer Driven News

A California lawsuit filed against National General claims the insurer terminated policies post-collision for unrelated reasons, leaving claimants to foot the property damage and repair bills. NBC 7 reports Andy Nguyen, of San Diego, was involved in a collision while […]


Regulatory / Legal

Uber Sues Drivers’ Insurer Alleging Its Claims Practices Have Fueled Tort Litigation

February 20, 2024

Via: Insurance Journal

Uber Technologies last Friday sued an auto insurer to have it defend and indemnify it regarding multiple lawsuits that are seeking to hold Uber vicariously liable for accidents involving Uber drivers in New York. The technology company maintains that the […]


Regulatory / Legal

Lawsuit alleges USAA uses computer system to arbitrarily deny, reduce claims

February 19, 2024

Via: Repairer Driven News

A Washington class action lawsuit claims USAA uses a computer program made by a CCC company to arbitrarily reduce or deny personal injury protection and/or medical payments, Washington Superior Court for Clark County documents say. The suit, filed in November, […]


Regulatory / Legal

South Africa’s President Will Sign Health Insurance Bill Into Law

February 16, 2024

Via: Insurance Journal

South Africa’s President Cyril Ramaphosa said on Thursday that he planned to sign into law a National Health Insurance (NHI) bill that aims to provide universal health coverage to South Africans, although he did not give a time frame. The […]


Regulatory / Legal

Maryland Issues Insurance Scam Warning for Businesses

February 16, 2024

Via: Insurance Journal

The Maryland Insurance Administration (MIA) is warning of an insurance-related scam targeting small painting, construction, and cleaning businesses. The fraudulent offers may be received by email, text message, or phone call. MIA advises businesses that are contacted by anyone offering […]