Trump’s ‘Debanking’ Order Raises Questions for Lenders Days after accusing JPMorgan Chase and Bank of America of discriminating against him and other conservatives, President Donald Trump issued an executive order directing the Treasury Department...
SC Proposes Rate Cuts for Some Credit Property Insurance South Carolina’s Department of Insurance plans to cut the rates for some credit property insurance, which lenders sometimes require to protect personal property put up as collateral for loans. The...
CA Regulators Complete Review of Wildfire Risk Model California’s Department of Insurance has completed a review of the state’s first wildfire catastrophe model, which property/casualty insurers can now begin using to assess wildfire risk when setting...
Developing Anti-‘Debanking’ Trend in Red States? A new front appears to have opened in the ongoing battle over environmental, social and governance (ESG) investing. In March Idaho Gov. Brad Little (R) signed the Transparency in Financial Services...
PA Enacts Crypto Transmitter Licensing Requirements Pennsylvania Gov. Josh Shapiro (D) signed legislation requiring cryptocurrency and other virtual monetary transmitters to be licensed by the state. The new law will also require licensees to submit annual reports...
CA to Investigate State Farm over LA Wildfire Claims California Insurance Commissioner Ricardo Lara (D) announced a “market conduct examination” of State Farm over consumer complaints about the insurer’s handling of claims from the Los Angeles...
LA Homeowners Sue Insurers over Inadequate Fire Coverage Victims of the Los Angeles wildfires in January have filed a pair of lawsuits claiming USAA, a Texas-based insurer that serves members of the military, and two insurers affiliated with AAA underestimated...
CT Senate Passes Sweeping Consumer Protection Bill The Connecticut Senate passed an expansive consumer protection bill ( SB 5 ). Among other things, the measure would require service providers such as hotels to use “all-in” pricing, fully disclosing...
FL Condo Bill Raises Insurance Concerns Florida lawmakers passed a bill ( HB 913 ) intended to provide condominium owners some relief from the high cost of bringing properties up to code, as a result of strict new rules imposed on them after the deadly Surfside...
‘Unauthorized Alien’ Limits Among Trio of Auto Insurance Proposals Under Consideration in LA House Three auto insurance bills cleared the Louisiana House Committee on Civil Law and Procedure last month. One of them ( HB 436 ) would prohibit “unauthorized...
DOGE-Like Effort in FL Could Impact Insurance Industry The wave of housecleaning that’s swept through the federal government courtesy of Elon Musk's Department of Government Efficiency appears to have reached the state government of Florida. A bill...
Insurer Payouts for LA Wildfires Top $12B California Insurance Commissioner Ricardo Lara (D) announced that insurers have now paid out over $12 billion in claims from the largest of the Los Angeles wildfires. That sum is almost twice the $6.9 billion that insurers...
State Lawmakers Take Aim at Crypto Kiosks Lawmakers in at least 15 states have introduced bills to regulate cryptocurrency kiosks, which are often found at convenience stores and gas stations. The bills would limit transactions, generally to $1,000 per day, and...
Expect a lot of activity at the state level on insurance issues in 2025, so says attorney Karen C. Yotis , content manager for insurance on the Practical Guidance team for LexisNexis®. We asked Yotis, a frequent contributor to State Net® Capitol Journal™...
Flurry of Legislative Action on Wildfires in CA In response to the devastating wildfires in Los Angeles last month, California Insurance Commissioner Ricardo Lara (D) and several state lawmakers have proposed a 10-bill package of legislation aimed at improving...