Massachusetts Mandatory Health Insurance
On April 12, 2006, Massachusetts Governor Mitt Romney signed a health care bill, known as “An Act Providing Access to Affordable, Quality, Accountable Health Care (the “Act”)”, into law.
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Topic: Regulatory
Senate Committee Approves Bill to Create Natural Disaster Commission
Last week, the Senate Baking, Housing, and Urban Affairs Committee, in a voice-vote, approved a bill (The Commission on Natural Catastrophe Risk Management and Insurance Act of 2007) that would create a national commission to examine natural disaster risks.
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Medical Malpractice Premiums to Increase in New York
On July 2, 2007, New York State Insurance Superintendent Eric R. Dinallo announced that the Department approved a 14% increase in medical malpractice insurance rates.
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Florida No Fault Coverage – Insurers May Reimburse Medical Providers at the Providers’ PPO Contract Rates
Florida’s personal injury protection (“PIP”) statute, Florida Statute § 627.736, requires Florida insureds to maintain at least $10,000 in “no fault” coverage for automobile accidents and compels insurers to pay 80% of all reasonable, related, and necessary medical expenses. However, subsection (10) of the PIP statute creates an alternative to standard PIP coverage options.
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Terrorism Risk Insurance Revision and Extension Act of 2007 Inches its Way Toward Passage
Late yesterday afternoon, the House Financial Services Committee approved an amended version of the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”) by a vote of 49 to 20.
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Massachusetts Insurance Commissioner Introduces Managed Competition Into The State’s Auto Insurance Market
On July 16, 2007, the Massachusetts Commissioner of Insurance, Nonnie S. Burnes, issued two decisions which will introduce managed competition into the Massachusetts automobile insurance market.
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House Panel Approves Bill to Amend NFIP
Despite warnings from the Bush Administration, as reported here that it would not support any legislation expanding the National Flood Insurance Program (“NFIP”) to include windstorm coverage, the House Financial Services Committee approved the Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121), which contains just such an amendment to the NFIP.
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SEC Releases Competing Proposals For Shareholder Participation In Contested Elections
On July 27, 2007, the Securities and Exchange Commission posted two separate proposing releases that relate to shareholder access to a public company’s proxy ballot in connection with director elections. The unusual aspect of these releases is that they represent alternative and very different approaches to the same issue.
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InsurTech
