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IL House Passes ‘Junk Fee’ Bill The Illinois House passed a bill ( HB 228 ) that would amend the state’s Consumer Fraud and Deceptive Business Practices Act to prohibit businesses from...
Anthropic Not Releasing New AI Model to Public The artificial intelligence company Anthropic—recently in the headlines for demanding that the Pentagon agree to certain limitations on the use of...
CT Lawmakers Target AI in Employment A bill (SB 435) before Connecticut’s legislature would require employers to disclose to job applicants when they are communicating with artificial intelligence...
On March 11, Washington Gov. Bob Ferguson (D) signed HB 2303 . The law, which takes effect June 11, bars employers from requesting, requiring or coercing workers or job applicants to accept a subcutaneous...
ND Regulators Approve Bank-to-Bank Stablecoin Use North Dakota’s Industrial Commission approved the use of the state bank’s planned stablecoin, the Roughrider Coin, for bank-to-bank transactions...
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FL Insurers Dropping Over 50,000 Polices to Remain Afloat: The Florida Office of Insurance Regulation has issued consent orders allowing three insurers to drop thousands of personal residential policies to try to remain solvent. Universal Insurance Co. of North America (UICNA) was authorized to cancel 13,294 policies; Gulfstream Property & Casualty was authorized to drop 20,311 policies, and Southern Fidelity Insurance Co. was authorized to non-renew about 19,600 policies.
The policy terminations and non-renewals are “an extraordinary statutory remedy reserved to address insurers which are or may be in hazardous financial condition,” the consent orders stated. They are also the most recent sign of how much Florida’s insurance industry is struggling, due, among other things, to increased litigation. Collectively, the state’s insurers lost $1.7 billion last year. (INSURANCE JOURNAL)
Restrictions on Auto Insurers Advance in TX Legislature: The Texas House has passed legislation (HB 359) targeting delaying tactics used by auto insurers with claims that involve uninsured or underinsured motorists. The state’s House also passed a measure (HB 1793) prohibiting auto insurers from using oral releases to settle claims with injured motorists. (INSURANCE JOURNAL, STATE NET)
CT Regulators Propose Big Fines for Utilities’ Storm Failures: The Connecticut Public Utilities Regulatory Authority has proposed fining United Illuminating and Eversource $2.1 million and $30 million, respectively, for what it said were the utilities’ failures of preparation and response to Tropical Storm Isaias last August. Hundreds of thousands of residents and businesses were left without power last August by that storm. (INSURANCE JOURNAL)
-- Compiled by KOREY CLARK