APCIA News

Insurers Warn California’s Inaction Threatens Auto Policies

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 …

Industry Trade Associations Oppose Potential New Cyber Claims Data-Sharing Rules

Insurance industry trade associations said they do not want “misguided provisions” related to cyber claims data sharing in the next National Defense Authorization Act (NDAA) for fiscal year 2023. The American Property Casualty Insurance Association (APCIA), National Association of Mutual …

New Mexico Superintendent of Insurance, Insurer Group Urge Passage of Hermit’s Peak Fire Assistance Act

New Mexico Superintendent of Insurance Russell Toal and American Property Casualty Insurance Association President and CEO David A. Sampson are urging Congress to act quickly to pass the Hermit’s Peak Fire Assistance Act so residents impacted by the fire have …

Insurers Increasingly Concerned for Western U.S. Wildfire Season

As Western wildfires force evacuations in Arizona and California – on the heels of an early and severe wildfire season in New Mexico – insurers are increasingly eyeing the growing risks. “Insurers are very much concerned about the wildfire situation,” …

Most Homeowners Underinsured for Trends in Inflation, Building Costs: APCIA

A new American Property Casualty Insurance Association (APCIA) survey of over 1,000 U.S. homeowners who have a homeowners insurance policy, reveals a majority of insured homeowners have not taken important steps to ensure their insurance coverage is keeping pace with …

APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines

US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property Casualty Insurance Association said Friday. APCIA said private property …

Court Issues Stay on Washington Insurance Credit Scoring Ban

A Washington judge issued a stay on a rule banning the use of credit scoring by insurers in that state, and consolidated cases challenging the ruling, until the merits of the cases are decided. The rule handed down from Insurance …

Washington Commissioner Adopts 3-Year Credit Scoring Ban, Proposes Transparency Rule

Washington Insurance Commissioner Mike Kreidler has adopted his rule banning insurers from using credit information to set auto, homeowner and renter insurance for three years. Kreidler’s rule temporarily banning credit scoring will be in effect starting March 4 through three …

Insurers Call California Climate Disclosure Bill ‘Potentially Dangerous’

An insurer group is unhappy with new legislation to require insurance companies operating in California to disclose investments in fossil fuel-related entities as well as the fossil fuel-related companies and projects being underwritten. Assembly Bill 1694 expands upon the disclosures …

Washington Judge Shoots Down Insurance Commissioner’s Credit Scoring Ban

A judge in Washington ruled in favor of the insurance industry’s argument against Washington Insurance Commissioner Mike Kreidler’s emergency rule temporarily banning use of credit scoring. Kreidler’s emergency order prohibited insurers from using a consumer’s credit score to price auto, …