Right Street

After All These Years, States Still Don’t Understand Credit Scoring

You may have missed it, as some bigger events have been dominating the headlines in recent weeks, but the West Virginia Legislature and Maryland General Assembly both recently adjourned after having considered bills (SB 659 and SB 17, respectively) that …

Does Prop 103 Allow Auto Insurers to Provide COVID-19 Rebates? Maybe Not

As is by now obvious to everyone, Americans are driving less these days amid the COVID-19 pandemic. Across the country, schools and businesses are shut down. Many areas have curfews and stay-at-home orders that ask citizens to limit any nonessential …

We Oppose Nearly Every Government Insurance Program. We Could Support One for Pandemics.

Over the eight years of our existence, the R Street Institute has offered critiques of government-backed entities that provide insurance or reinsurance for flood, crop, windstorm, earthquake, auto, workers’ comp, nuclear energy liability and terrorism. We have warned that such …

COVID-19 Should Force Rethink of Wisdom of Monopoly State Funds

The COVID-19 outbreak is expected to hit the workers’ compensation insurance market hard. After a long stretch of declining costs that saw rates fall nationwide from 2015 to 2019, claims for workers infected by the virus while on the job …

California Legislative Recess Leaves Wildfire Plan in Limbo

Californians statewide are huddled at home under a “shelter-in-place” order handed down March 20 by Gov. Gavin Newsom to stem the spread of the COVID-19 virus. Unfortunately, nature does not take a break for pandemics. California also remains under wildfire …

How the Digital Tax Could Swallow Insurance

Though tensions were high coming in, President Donald Trump left the World Economic Forum in Davos, Switzerland, with at least a temporary truce on one of his latest threatened tariff fights. Trump and French President Emmanuel Macron reportedly came to …

‘Minibus’ Marks Missed Opportunity for TRIA, Ex-Im Risk Transfer

There has been much talk in recent years about the need to “drain the swamp” in Washington and bring public accountability to a federal government mired in self-dealing and special interests. But Congress this week will almost certainly approve a …

For Second Year in a Row, Louisiana Flunks R Street’s Insurance Report Card

The 2019 edition of the R Street Institute’s annual Insurance Regulation Report Card is out and, for the second year in a row, Louisiana has the ignominious distinction of finishing dead last. By our lights, the Pelican State has the …

Some States Jumping the Gun on Predictive Modeling Review

The National Association of Insurance Commissioners has started the process to produce a review guide for predictive models that could guide how state insurance departments oversee insurers use of so-called “big data.” But reports from the field suggest that, even …

NAIC Innovation Panel Moves for Update of Anti-Rebating Model

The National Association of Insurance Commissioners has taken the first step in what stands to be a more than yearlong process to update the rules states use to police impermissible “rebates” offered by insurers and insurance producers. By a unanimous …

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