Latest Financial industry regulation News

Incumbents in Georgia beat primary opponents down the ballot

May. 25, 2022 18:34 PM EDT

ATLANTA (AP) — Beyond the marquee races for governor and U.S. Senate, several statewide officials overcame challengers from within their own parties in primary elections decided Tuesday in Georgia. Georgia's incumbent attorney general and insurance commissioner both defeated fellow...

NC Medicaid expansion stakes rise with Senate leader support

May. 25, 2022 18:02 PM EDT

RALEIGH, N.C. (AP) — North Carolina government's most powerful Republican elected official threw his weight fully behind Medicaid expansion Wednesday, raising the stakes for an issue lingering in state politics for a decade that could result in hundreds of thousands of low-income adults getting...

Florida Legislature approves property insurance package

May. 25, 2022 17:09 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida House of Representatives on Wednesday gave final passage to sweeping property insurance legislation that creates a $2 billion reinsurance fund and rewrites rules on coverage denials and attorney fees, as lawmakers attempt to stabilize rising rates and insurer...

Florida passes condominium safety bill in wake of Surfside

May. 25, 2022 17:08 PM EDT

TALLAHASSEE, Fla. (AP) — Florida would require statewide recertification of condominiums over three stories tall under a bill sent Wednesday to Republican Gov. Ron DeSantis by lawmakers, their legislation a response to the Surfside building collapse that killed 98 people. The House...

Editorial Roundup: Florida

May. 25, 2022 16:19 PM EDT

South Florida Sun Sentinel. May 24, 2022. Editorial: Florida’s new elections chief won’t bury The Big Lie Gov. Ron DeSantis’ new chief elections official, Cord Byrd, could have saved himself a whole lot of justifiable criticism Tuesday if he had simply...

Florida Senate passes property insurance package

May. 24, 2022 18:58 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida Senate on Tuesday approved a sweeping legislative package meant to combat rising property insurance rates and other problems in the state's turbulent insurance market, creating a $2 billion reinsurance fund and writing new rules around coverage denials and...

Judge: Surfside collapse property owners bumped up to $96M

May. 24, 2022 16:25 PM EDT

Homeowners with condos in the Florida building that collapsed and killed 98 people nearly a year ago but whose families suffered no loss of life will share at least $96 million from a court settlement, a judge said Tuesday. That is in addition to the payout of about $1 billion to be...

NC Medicaid expansion gets serious attention from Senate GOP

May. 23, 2022 17:42 PM EDT

RALEIGH, N.C. (AP) — North Carolina Senate Republicans are strongly considering legislation that would expand Medicaid coverage to hundreds of thousands of additional low-income adults. Such legislation would mark a key step in an extraordinary turnabout by GOP members in the chamber set against...

Florida insurance bills clear committee, move to Senate

May. 23, 2022 16:10 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida Legislature on Monday began a special session focused on fixing the state's turbulent property insurance market, advancing sweeping legislation to create a $2 billion reinsurance fund and place new rules around attorney fees and coverage denials as lawmakers...

Florida bills limit roof refusal by insurers, add new fund

May. 21, 2022 17:02 PM EDT

ORLANDO, Fla. (AP) — Legislation proposed by Florida lawmakers for an upcoming special session to reform the state's property insurance market would create a $2 billion reinsurance fund and prohibit insurers from automatically denying coverage to homeowners' with older roofs. Four...