Insurance Consumer Protection

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New York State To Require Title Agents To Be Licensed

With the passage of the New York 2014-15 budget, New York becomes one of the last states in the country to license title agents. The budget includes measures that authorize the Department of Financial Services (DFS) to...more

FTC Commissioner Criticizes Proposed Legislation That Would Permit Health Providers to Negotiate Jointly with Health Insurers

In a February 26 speech before the Connecticut Bar Association, Federal Trade Commissioner Maureen Olhausen expressed strong opposition to proposed legislation that would create an antitrust exemption for collective...more

N.Y. Banking and Insurance Superintendent Unveils Aggressive Agenda

Benjamin M. Lawsky, who heads the New York State Department of Financial Services (DFS), indicated that his agency is seriously considering more aggressive investigation and pursuit of individuals whose malfeasance has led...more

FIO Focus, Issue No. 48

Congressional Hearing on Capital Requirements for Insurers Subject to Federal Reserve Regulation On March 11, 2014, the Subcommittee on Financial Institutions and Consumer Protection of the U.S. Senate Committee on...more

Belgium: Beware Of The Barking Privacy Watchdog, She’s Biting

The quietness in the privacy landscape in Belgium is about to drastically change. Reason for the change of pace are the recent major data breaches that were published by the media. The Privacy Commission announced it will...more

Health Insurer Fined Unprecedented $6.8 Million for HIPAA Violations

Federal fines for violations of the Health Insurance Portability and Accountability Act (HIPAA) may not exceed $1.5 million per incident per year. That's already a big number to think about — but employers also need to...more

Unique Data Breach Settlement – A Sign Of Things To Come?

A judge in the United States District Court for the Southern District of Florida has approved a $3 million data breach class action settlement agreement between AvMed, Inc. and plaintiffs. The settlement arises out of a...more

Triple-S Socked with $6.8 Million Sanctions for PHI Breach

Triple-S, an insurance holding company and subsidiary of Triple-S Management Corporation, was notified by the Puerto Rican Health Insurance Administration (“HIA”) that HIA would pursue penalties against Triple-S for its...more

Cyber breach insurance: What, me worry? - Part of counsel’s job may be to ensure that the department in the company that “owns”...

One of us recently asked an in-house counsel friend in charge of litigation for a major company what questions he had about cyber insurance. His response, besides a blank look, was “I’m sure someone else in the company...more

Laying Down the Law: Illinois Appellate Courts Confirm Insurance Coverage in TCPA Cases

The threat to many American businesses posed by the Telephone Consumer Protection Act of 1991 (“TCPA”) (47 U.S.C. § 227(b)) is undeniable. A typical alleged violation of the TCPA may consist of sending a fax without the...more

Illinois Appellate Court Holds Insurer Liable for TCPA Class Action Settlement

Adding to the already fragmented judicial approach to insurance coverage for Telephone Consumer Protection Act claims, an Illinois appellate court has held that an insurance company is responsible for covering a $1.7 million...more

CFPB Initiates Administrative Proceeding Against Mortgage Lender

Subsequent to its denial of a mortgage lender’s petition to set aside a civil investigative demand in 2012, the CFPB publicly announced that it had served Notice of Charges, initiating an administrative proceeding against the...more

The CFPB Targets Mortgage Reinsurance Yet Again

The Consumer Financial Protection Bureau filed an administrative enforcement action against PHH Corporation, alleging a nearly 15-year “mortgage insurance kickback scheme” by its mortgage origination and reinsurance...more

Three, Two, One, Blast Off! Illinois Court Finds Coverage for Blast Fax TCPA Violations

Last year, the Illinois Supreme Court held statutory damages of $500 per occurrence for violations of the Telephone Consumer Protection Act (TCPA) were not punitive in nature and reversed an Illinois appellate court decision...more

Prudential Regulators Clarify Supervisory Approach Relative to CFPB Mortgage Regulation

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Office of the Comptroller of the Currency (the “Prudential Regulators”) have...more

Health Update -- Dec 19, 2013

The Debate over Specialty Pharmaceuticals: Is the Promise Worth the Price? - ..What’s the Issue? - Specialty pharmaceuticals are a rapidly growing share of total drug expenditures by public and private health...more

CFPB Sues Mortgage Insurer Over Illegal Kickback Scheme

It looks like yet another illegal kickback scheme involving mortgage insurance has been uncovered in the residential mortgage industry. Recently the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit in the U.S....more

CFPB Settles with Mortgage Insurance Company for Violations of RESPA

The CFPB announced it had entered into a consent order with a mortgage insurance company following the CFPB’s filing of a complaint in the United States District Court for the Southern District of Florida against the company...more

Futures Industry Releases Insurance Study

On November 15, the Chicago Mercantile Exchange Group, Futures Industry Association, Institute for Financial Markets, and National Futures Association released a study on the economic feasibility of adopting an insurance...more

CFPB Settles With Mortgage Insurer Over Alleged RESPA Violations

On November 15, the CFPB announced a settlement with a mortgage insurer accused of paying illegal kickbacks to mortgage lenders in exchange for insurance referrals in violation of Section 8 of RESPA. The settlement resolves...more

Medical Identity Theft: New Recommendations By The California Attorney General To Health Care Organizations For Keeping Medical...

Unlike financial identity theft, which targets a victim’s financial health, medical identity theft threatens a victim’s very existence. The unauthorized access of a victim’s medical record not only grants the thief access to...more

Consumer Fraud Complaints Rise With Rollout of Affordable Care Act Exchanges

Criminal Prosecutions Expected in 2014 Related to ACA Fraud - Last month's troubled rollout of HealthCare.gov, the federal marketplace for online health insurance enrollment under the Affordable Care Act (ACA),...more

Fannie Mae, Freddie Mac To Restrict Lender-Placed Insurance Practices

On November 5, the FHFA announced that it had directed Fannie Mae and Freddie Mac to implement new restrictions on lender-placed insurance practices. In March, the FHFA sought comments on certain potential lender-placed...more

TCPA Connect -- Nov 13, 2013

Consent Too Varied to Certify TCPA Class, Court Rules - Hilton Worldwide Inc. scored a victory in California federal court when a judge declined to certify a class of millions of consumers in a TCPA suit. The...more

Insurance Recovery Law -- Nov 14, 2013

In A New York State Of Mind . . . For Expanded Vandalism Coverage - Why it matters: Property owners in New York with coverage for vandalism will be pleased with the Georgitsi Realty LLC v. Penn-Star Insurance Company...more

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