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In the United States, an SR-22 (sometimes referred to as a certificate of insurance [a] or a financial responsibility filing) [1] [2] is a vehicle liability insurance document required by most state departments of motor vehicles (DMV) offices [b] for "high-risk" insurance policies. [3]
This led Massachusetts and Connecticut to create the first financial responsibility and compulsory insurance laws. Connecticut's 1925 financial responsibility law required any vehicle owner involved in a collision with damages over $100 to prove "financial responsibility to satisfy any claim for damages, by reason of personal injury, to, or ...
Unlike the United States where filial responsibility laws were based on English poor laws, filial responsibility laws were enacted by the Canadian provinces in response to the harsh economic conditions of the Great Depression. Despite the official passage of these laws, very few parents sought the enforcement of these laws by the courts, with ...
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Insurance law and regulation is established individually by each state. In order to better coordinate insurance regulation among the states and territories, insurance commissioners are members of the National Association of Insurance Commissioners (NAIC).
A ‘sleeper law’ awakens According to Forbes reporting, over half the states currently have laws holding adult children financially responsible for the care of their senior parents. This may ...
The Illinois Department of Financial and Professional Regulation was created on July 1, 2004. It is responsible for the regulation, oversight, and licensure of almost 300 different types of professional licenses and financial institutions. The current director ("Secretary") of this department is Mario Treto, Jr.
David LeGrange and Laura Barnes of Bridges Financial agreed to pay fines after the SEC accused them of selling risky securities to their customers, according to a Sept. 27 settlement.