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CA’s Wildfire-Driven Insurance Crisis Spreads to Lower-Risk Homes Insurers have stopped covering homes in some California neighborhoods at lower risk of wildfire damage, forcing thousands of homeowners...
WA Enacts Ban on Microchipping Workers Washington Gov. Bob Ferguson (D) signed a bill ( HB 2303 ) prohibiting companies from requiring their workers to get microchip implants. The new law allows workers...
NJ Gov Wants Big Employers to Help Cover Cost of Medicaid New Jersey Gov. Mikie Sherrill (D) unveiled a state budget plan that proposes generating $145 million in funding for Medicaid by requiring large...
When Michigan Gov. Gretchen Whitmer (D) spoke about the need for affordable healthcare and housing last month , she joined a chorus of governors of both major parties who have made affordability a focus...
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...
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Catastrophe modeler Karen Clark & Company estimated insured property losses from the Lahaina wildfire at about $3.2 billion. With the death toll from the Maui fires having exceeded 100, they are the nation’s deadliest in over 100 years. (INSURANCE JOURNAL)
With Missouri state lawmakers having failed to pass legislation (HB 863) this year aimed at curtailing environmental, social and governance investing, Secretary of State Jay Ashcroft (R) has issued a new rule requiring financial advisors and institutions to disclose to customers investments that prioritize ESG scores or other criteria that may not maximize profit. Ashcroft said his first-in-the-nation rule may help guide other states looking to regulate ESG investing. (PLURIBUS NEWS)
The National Association of Insurance Commissioners, which sets standards for the industry, has proposed a rule that would allow it to override credit ratings assigned to some investment deals, effectively limiting how much money insurers could devote to such deals. The NAIC says the rule is needed to address the increasing number of deals being made in lightly-regulated private markets. (BLOOMBERG)
Maine and Colorado entered into a partnership agreement aimed at lowering fees associated with the automatic retirement savings programs each state offers the 40% of its workers who don’t receive retirement benefits from their employers. The first-of-its-kind-in-the-nation partnership consolidates those programs under a single administrator. (PLURIBUS NEWS)
—Compiled by SNCJ Managing Editor KOREY CLARK
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