All posts tagged 'insurance regulation'
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Failing to make the cut for the May 26
th House calendar, Senate Bill 1628 is dead.
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In a per curiam opinion issued Friday, the Texas Supreme Court confirmed third-party plaintiffs do not have standing to assert claims for declaratory relief against a liability insurer before establishing the insurer’s legal obligation to pay damages .
In In re Essex Insurance Company, the Court granted Essex’s request for mandamus relief after the trial court refused to dismiss declaratory judgment claims filed by Rafael Zuniga in a personal injury suit Zuniga filed against San Diego Tortilla (“SDT”). Zuniga lost his hand while operating a tortilla machine at SDT’s manufacturing facility. Zuniga alleged that he was working as an independent contractor at the time of the injury, not as SDT’s employee.
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Among other sweeping reforms designed to mitigate against the next financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) created the first federal regulatory agency focused on insurance, an industry historically subject primarily to state regulation under the McCarren-Ferguson Act of 1945.
Undoubtedly prompted by the near-failure of insurance giant AIG, the Federal Insurance Office Act of 2010 established the Federal Insurance Office (FIO) within the U. ......
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