Right Street

Tax Reformers Must Take Care Not to Kill Reinsurance Market

During the 2016 presidential election, one theme from President-elect Donald Trump rang louder than any other: the importance of keeping jobs in America and finding ways to encourage (or perhaps force) companies that have sent jobs overseas to bring them …

Court Smacks Down California Regulators Over Broker/Agent Ruling

An Orange County, California court has given the state’s Department of Insurance a stunning smack down in a long-running case about the “broker fees” charged by some insurance agents. The complicated case offers insight into the bureaucratic world of insurance …

NAIC San Diego: Self-Driving Cars and Regulatory Renewal

Insurance regulators are a diverse bunch. Some are elected, while others are appointed. Some are Republicans, while others are Democrats. At the triennial meeting of the National Association Insurance Commissioners in San Diego, regulators were united in their interest and …

Is TWIA’s Progress to Rate Adequacy over?

It’s no secret that the Texas Windstorm Insurance Association (TWIA) has a funding problem. Rates for coastal windstorm insurance offered by the state-created agency long have been well below the actuarially sound levels necessary for TWIA to meet its financial …

California Coal-Divestment Push Mostly about Politics

California voters in 1988 dramatically expanded the power of the state Department of Insurance and turned the insurance commissioner post into an elected position. The Proposition 103 initiative also gave the commissioner unprecedented authority to prescribe which specific factors private …

New York Homebuyers Are Overpaying on Title Insurance

Homebuyers in New York State overpaid on the cost of their title insurance to the tune of $155.3 million last year, according to a new report from OneTitle National Guaranty Co. Based on public records for 182,487 real estate transactions …

Massachusetts Ridesharing Bill Moves into Final Stretch

Transportation network companies like Uber and Lyft would be legally sanctioned to operate in Massachusetts, under a set of mostly reasonable regulation, under legislation approved this week in a 34-2 vote of the state Senate. The measure would place TNCs …

CEA Plans to Fix What Isn’t Broken

The California Earthquake Authority has had some great shopping luck this year. According to a report from Insurance Insider, the state-backed residual market pool was able to buy a total of $4.51 billion in traditional reinsurance coverage during the January …

People Deserve Second Chances, even in the Insurance Industry

Two years ago, the online health-insurance broker and human-resources portal Zenefits hired an insurance agent with a criminal record. Now the San Francisco Chronicle is attacking the firm for that decision. While Zenefits certainly has had some well-documented compliance problems, …

Mississippi and West Virginia Governors Both Sign Ridesharing Laws

Mississippi and West Virginia have become the 30th and 31st states to pass legislation to create a statewide regulatory framework for ridesharing services offered by transportation network companies like Uber and Lyft. Mississippi is the most recent state to join …

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