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The legislation listed below is under consideration for inclusion on a future Assembly Insurance Committee agenda. In order to gather input on these bills, all interested parties are invited to offer comments in support or opposition to the bills listed below. Suggestions for proposed language changes are also welcome at this time. 

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Read More Requests for Comments on Proposed Legislation from New York State Assembly Committee on Insurance

Last month, the Florida Senate introduced S.B. 2860, a comprehensive property insurance bill aimed at protecting property owners from arbitrary and unsupported property rate increases.  Florida’s House of Representatives subsequently approved an amended version of the bill, which the Florida Senate adopted earlier this month.  The Governor approved the bill on May 28, and it will take effect on July 1, 2008. 

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Read More Florida Enacts New Property Insurance Legislation

On May 21, 2008, the Louisiana Supreme Court issued a pro-insurer decision in Landry v. Louisiana Citizens Property Insurance Company, enforcing a policy’s explicit loss computation method, under the Louisiana Valued Policy Law (“VPL”).  The court held that an insurer is not obligated to pay the total loss of an insured’s property when damages are caused concurrently by covered and non-covered perils if the policy explicitly contains a loss computation method that differs from that set forth in the VPL. 

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Read More Louisiana Supreme Court Tackles Valued Policy Law

The United States District Court for the Southern District of Illinois recently adopted a restrictive view of the government contractor immunity defense when it remanded an asbestos-related lawsuit to Illinois state court for lack of federal subject-matter jurisdiction. …
Read More Illinois Federal Court Takes Restrictive View of Government Contractor Immunity Defense

The First Circuit Federal Court of Appeals recently affirmed dismissal of a suit against the Puerto Rico Insurance Commissioner on the basis of a Puerto Rico Insurance Code Article that bars suit against the Commissioner once a liquidator has been appointed. 

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Read More First Circuit Federal Court of Appeals: Spanish Language Version of Puerto Rican Insurance Code Mandates Dismissal of Suit Against Puerto Rico Insurance Commissioner

Last month, www.insurereinsure.com reported on the U.S. Supreme Court’s decision in Hall Street Associates, L.L.C. v. Mattel, Inc., No. 06-989 (U.S. Mar. 25, 2008), which held that the grounds set forth in the Federal Arbitration Act (“FAA”) for vacating and modifying arbitration awards were “exclusive,” rejecting the notion that parties whose arbitration is governed by the FAA can contractually expand the scope of judicial review of the award beyond the grounds provided by the FAA. …
Read More New York State Court Vacates Portion of Arbitration Award Based on Manifest Disregard of the Law

Last month, Colorado Governor Bill Ritter signed a bill that will permit the Department of Regulatory Agencies and the Division of Insurance (the “Division”) to compel payment to consumers who have been wronged by the unlawful business practices of insurance companies and their agents.   House Bill 08-1228 (the “Bill”) holds insurers financially accountable for the unfair business acts of an insurance agent authorized to sell a product or plan of the insurer, if the insurer knew or should have known about the unfair business practice. …
Read More Colorado Governor Signs Insurance Consumer Protection Bill

Before closing its legislative session on May 2nd, the Florida House and Senate unanimously approved Senate Bill 648 (“SB 648” or the “Bill”) addressing insurable interest requirements with respect to life insurance policies.  The Bill is different from the NAIC and NCOIL Viatical Settlement Models, but addresses many of the same issues surrounding stranger owned life insurance arrangements (“STOLI”). 

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Read More Florida Insurable Interest Bill Passes the House and Senate