The New York State Department of Financial Services (DFS) has levied over $20 million in fines against various auto insurance companies. This action stems from recent regulatory reviews and investigations into the industry.
In a separate but related development, the Eighth Circuit Court of Appeals has ruled against an insurer seeking significant asbestos coverage. The court determined that a Missouri law effectively prevented the insurer from pursuing its claim for $60 million in coverage related to asbestos liabilities. The case underscores ongoing legal battles surrounding historical asbestos claims and the scope of insurance coverage in such situations.
