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Category: Regulatory / Legal

Regulatory / Legal


Regulatory / Legal

Florida considers bill to control insurance litigation costs

March 26, 2021

Via: Insurance Business

A bill that addresses the drivers of litigation cost in the property insurance market has passed the Florida Senate Rules Committee and will now head to the Senate floor. Florida Senate Bill 76 includes provisions designed to reduce the cost […]


Regulatory / Legal

Man faces up to 10 years in prison for water damage insurance fraud

March 25, 2021

Via: Insurance Business

A Houston man could face a federal prison sentence of up to 10 years after pleading guilty to insurance fraud. Earlier this week, Robert Lance Kuperman pleaded guilty to interstate transportation of money by fraud in the Eastern District of […]


Regulatory / Legal

Federal pandemic insurance backstop unlikely: Congressman

March 24, 2021

Via: Business Insurance

Rep. Emanuel Cleaver, D-Missouri, chair of the House Financial Services Subcommittee on Housing, Community Development and Insurance on Wednesday played down the likelihood of a government backstop for pandemic risk. “It’s going to be very difficult for me to get […]


Regulatory / Legal

California AG Challenges Housing Plans in Wildfire Areas

March 19, 2021

Via: Claims Journal

SACRAMENTO, Calif. (AP) — California’s attorney general is challenging some of the state’s largest suburban development projects as local officials weigh the risk of increasingly devastating wildfires against the state’s dire need for more housing. Attorney General Xavier Becerra on […]


Regulatory / Legal

North Carolina Man Charged with Insurance Fraud in Wreck Scheme

March 18, 2021

Via: Insurance Journal

A North Carolina man was arrested in connection with an insurance fraud scheme involving roadside cleanup after a car crash, insurance officials said. A news release from the Department of Insurance said Garrett Scarlette, 26, of Thomasville, was charged with […]


Regulatory / Legal

US re/insurers may face implications with Paris Agreement: AM Best

March 16, 2021

Via: Reinsurance News

AM Best has released a report which explores the possible implications that US re/insurers may face after rejoining the Paris Agreement. Outside the US, in Europe and Asia, re/insurers have increased their integration of ESG factors into their investment and […]


Regulatory / Legal

State high court rules insurer can claw back defense costs

March 12, 2021

Via: Business Insurance

An insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]


Regulatory / Legal

California Commissioner Says Insurers Overcharged Drivers During Pandemic

March 11, 2021

Via: Insurance Journal

Lara is now directing auto insurance companies to report by April 30 how they will return additional premium back to California policyholders that was reportedly over-collected in 2020. He is also directing commercial insurance companies to provide data about commercial […]


Regulatory / Legal

Oklahoma bill would create assigned risk comp plan

March 10, 2021

Via: Business Insurance

The Oklahoma Senate on Monday passed a bill that would require the state’s insurance administrator to develop and administer an assigned risk plan for workers compensation. S.B. 524, which passed in a 43-2 vote, would require the state’s insurance commissioner […]


Regulatory / Legal

Proposed legislation could drastically affect insurance employment

March 4, 2021

Via: Insurance Business

A trade group representing insurance professionals has warned that a proposed US House bill could reclassify insurance agents, brokers, and even financial advisors as employees, instead of independent contractors. The National Association of Insurance and Financial Advisors (NAIFA) is requesting […]