Latest Insurance industry regulation News

Inflation Reduction Act may have little impact on inflation

Aug. 12, 2022 18:08 PM EDT

WASHINGTON (AP) — With inflation raging near its highest level in four decades, the House on Friday gave final approval to President Joe Biden's landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships...

State courts say no COVID-19 loss insurance for restaurants

Aug. 11, 2022 15:06 PM EDT

COLUMBIA, S.C. (AP) — The South Carolina Supreme Court said Wednesday that a sports bar chain could not recoup damages from its insurance policy over the COVID-19 pandemic and subsequent shutdown. The ruling in Sullivan Management, LLC v. Fireman’s Fund Insurance Company is the...

Editorial Roundup: South Dakota

Aug. 11, 2022 12:33 PM EDT

Yankton Press & Dakotan. August 9, 2022. Editorial: Insulin Cap: Why Is There Resistance? What’s the argument against capping the price of insulin for people with private insurance? It’s a timely question amid the negotiations over the...

Security firm finds flaws in Indian online insurance broker

Aug. 10, 2022 17:08 PM EDT

NEW DELHI (AP) — Last month, a cybersecurity startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers to malicious hackers. ...

Senate Democrats pass budget package, a victory for Biden

Aug. 07, 2022 18:48 PM EDT

WASHINGTON (AP) — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical...

Dems' climate, energy, tax bill clears initial Senate hurdle

Aug. 07, 2022 01:27 AM EDT

WASHINGTON (AP) — Democrats pushed their election-year economic bill toward Senate approval early Sunday, starting the sprawling collection of President Joe Biden’s priorities on climate, energy, health and taxes on a pathway that the party hopes will end in final congressional passage by the...

EXPLAINER: Why is insulin so expensive and difficult to cap?

Aug. 05, 2022 06:28 AM EDT

Washington (AP) — Reining in the soaring prices of insulin has thus far been elusive in Congress, although Democrats say they'll try again — as part of their economic package that focuses on health and climate. The price of the 100-year-old drug has more than tripled in the last...

Firm downgrades 3 insurers in Florida, adding to concerns

Aug. 03, 2022 12:46 PM EDT

TALLAHASSEE, Fla. (AP) — A ratings agency has withdrawn ratings for two insurance companies and downgraded a third firm in Florida, raising concerns for homeowners who could end up paying more for insurance and further muddying a troubled market. Demotech, which rates 40...

Florida plans to backup insurance companies facing downgrade

Jul. 28, 2022 14:55 PM EDT

TALLAHASSEE, Fla. (AP) — Florida has taken action to back up property insurance companies facing a downgraded rating in an effort to help thousands of homeowners comply with mortgage requirements rather than being forced to seek new policies. The state-created Citizens Property...

Editorial Roundup: Michigan

Jul. 25, 2022 07:17 AM EDT

Detroit News. July 20, 2022. Editorial: Give Line 5 tunnel project the green light After a regulatory commission punted on a decision to approve the Line 5 tunnel under the Straits of Mackinac earlier this month, a scheduling conference Thursday could shed some light...