The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …
An academic paper published in the Journal of Insurance Regulation seems to have rekindled the debate over how much of an impact litigation and fraud have had on property insurance losses and premiums, particularly in Florida. The paper, “The Case …
A majority of Americans are unaware of third-party litigation funding but most believe state and federal laws should be changed to address abuses in the legal system. According to the results of a recent survey of 2,000 people conducted by …
Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2024? Here are the responses we received: In the coming year, the American Property Casualty Insurance Association …
U.S. insurers are adopting numerous strategies to deal with risks from climate change, according to a review out today that gives the first look at how or if insurance companies are adopting the widely used Task Force for Financial Disclosure …
Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows a similar decision by State Farm last month and adds to a growing list of major carriers cooling on California. “We …
An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …
Illinois became the latest state to pass public adjuster reform legislation when the Illinois Public Adjuster bill (SB 1495) passed both houses of the legislature and will move on to the governor. Indiana Gov. Eric Holcomb recently signed HB 1329, …
New figures show car sales in California continue to slowly return to pre-pandemic levels, which the state’s auto insurers believe is another indication the state’s insurance regulator needs to approve more rate filings. The California New Car Dealers Association this …
Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve any rate increases for more than two years, since the start of the coronavirus pandemic. The companies …
