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MI to Weigh Ban on Stock Buybacks for Companies Receiving Tax Breaks Michigan Sen. Mallory McMorrow (D) introduced a bill ( SB 783 ) that would prohibit publicly traded companies receiving economic incentives...
VA House Passes Paid Sick Leave Bill Virginia’s House of Delegates approved a bill ( HB 5 ) that would expand the state’s current paid sick leave law, which applies only to a small segment...
VA Lawmakers Okay Prescription Drug Affordability Board Virginia lawmakers have passed legislation ( SB 271 / HB 483 ) that would create a prescription drug affordability board to review drug prices...
Geolocation data has become a new frontier in privacy protection. This year, Virginia could join Maryland and Oregon as the first states to prohibit the sale of information that provides the precise...
Insurance Bill Raises Concerns in FL A fast-moving bill ( SB 1028 ) in Florida, sponsored by Sen. Joe Gruters (R), chairman of the Senate’s Banking and Insurance Committee, would require Citizens...
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Between 2011 and 2021, 90 percent of counties in the United States suffered a hurricane, flood, wildfire, drought or other natural event severe enough to have been declared a federal disaster, according to a report from Rebuild by Design, a nonprofit created by the Department of Housing and Urban Development shortly after Hurricane Sandy in 2012 to research how to address climate change. Over 700 counties endured five or more federally declared disasters over that 11-year period, the report said.
The states with the most such disasters - at least 20 each - were California, Iowa, Mississippi, Oklahoma and Tennessee. But the report said five other states, Louisiana, New Jersey, New York, North Dakota and Vermont, actually received the most federal disaster funding per person. (NEW YORK TIMES, INSURANCE JOURNAL, REBUILD BY DESIGN)
Insurance agents and brokers doing business in California will be subject to new requirements at the start of next year. Under legislation signed by Gov. Gavin Newsom (D) in September (SB 1242) producers will be required to report suspected fraud to the California Department of Insurance within 60 days of determining it may have occurred. The law will also require prospective and current licensees to complete an hour of study on insurance fraud as part of their continuing education requirements. It will also require the state insurance commissioner to submit fingerprint images and other information from applicants for licensing to the Department of Justice for criminal background checking, meaning applicants that fail to disclose prior criminal convictions will likely be denied a license. (INSURANCE JOURNAL, STATE NET)
-- Compiled by KOREY CLARK