Hunton Insurance Recovery Blog

The ongoing military action between the U.S., Israel, and Iran is affecting commerce both in the region and globally. There have already been reports of several oil tankers, cargo vessels, and a data center being damaged in attacks. Even businesses not directly impacted will be affected as shipping companies avoid the Strait of Hormuz, causing delays and higher prices for downstream customers. While many might assume insurance coverage is unavailable, that is not always the case and knowing where to look is key.

In 2025, four states—California, Massachusetts, New York, and Washington—proposed fashion accountability bills. These bills would require high-earning entities in the fashion industry to conduct extensive supply chain due diligence, and to monitor and report greenhouse gas (GHG) emissions, water use, and chemical management.

In 2025, California, Massachusetts, New York, and Washington advanced fashion accountability legislation targeting supply chain due diligence and environmental disclosures from major fashion companies. Heading into the 2026 legislative session, most of these bills have lost momentum: California and Washington’s measures are now inactive, Massachusetts’ proposal remains in study with limited prospects, and only New York’s bill is still under committee review. While each state’s legislative process varies, the window for action on these bills in 2026 has largely closed. Businesses should continue to track these developments, as similar proposals could reemerge in 2027.

On February 20, 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act ("IEEPA") does not authorize the President to impose tariffs. In Learning Resources, Inc. v. Trump, the Court invalidated tariffs imposed under IEEPA in connection with the Administration’s drug‑trafficking and "reciprocal" trade actions. The Supreme Court concluded that IEEPA’s grant of authority to "regulate … importation" does not include the power to impose tariffs. Tariffs are taxes, and the Constitution assigns taxing authority to Congress. When Congress intends to delegate tariff authority, it does so explicitly and with defined limits—features absent from IEEPA.