Regulation/Legislation

Failure to update new address prompts lawsuit against State Farm

Insurance-related bills came down to the final days of the 2011 legislative session. The Florida Legislature is a lot like a basketball gameits the final few moments that provide the most drama.

Bill to tighten codes would bring safety to a local level

A showdown over the future role of State Farm captive agents in servicing flood-insurance policies is shaping up in Congress.

Liberty Mutual Group has filed court papers to oppose a proposed $450 million settlement American International Group Inc. made with seven companies to end a pending class-action federal civil lawsuit over alleged underreporting of workers’ compensation premiums.

Financial impairments at 11 property and casualty insurance companies were severe enough to trigger regulatory action last year, but none of the problems were the direct result of catastrophe losses, A.M. Best reports.