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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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The Illinois Bankers Association and other organizations filed a federal lawsuit to block a new Illinois law limiting banks from charging interchange, or “swipe,” fees on tax and tip revenues. The Interchange Fee Prohibition Act is scheduled to take effect on July 1 next year. (CENTER SQUARE)
Washington State Insurance Commissioner Mike Kreidler (D) has proposed delaying Phase 2 of a recently adopted insurance premium change transparency rule for two years, from June 2027 to June 2029. Phase 1 of the rule, which took effect in June of this year, requires homeowners and auto insurers to disclose to policyholders why their premiums have increased when asked. Phase 2 will require the reasons for premium increases to be included in policy renewals. (INSURANCE JOURNAL)
The U.S. 11th Circuit Court of Appeals ruled that insurance carriers can’t be held responsible when banks improperly cash checks made out to two insureds and give the proceeds to just one of them. The federal appeals court’s decision—involving Markel American Insurance Co. and a pair of Florida-based truck-leasing firms—and a similar ruling by a state-level appellate court in Florida in 2022 means insurers in the state are unlikely to face similar lawsuits in the future. (INSURANCE JOURNAL)
—Compiled by SNCJ Managing Editor KOREY CLARK
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