Today — April Fool’s Day — is the day when competitive rating in the Massachusetts private passenger auto insurance market becomes real. No kidding. For the first time in more than three decades, the state is permitting its 20-something insurers …
The new managed care auto insurance system that is underway in Massachusetts should benefit most consumers as well as the state’s local insurers in the short run, according to a new report by Fitch Ratings. However, in the long run, …
Indianapolis-based the National Association of Mutual Insurance Companies (NAMIC) recently announced that it opposes legislation to ban the use of credit-based insurance scoring in Michigan. The House Insurance Committee is scheduled to debate the proposal today. “Headline grabbing proposals unveiled …
The new managed care auto insurance system that is underway in Massachusetts should benefit most consumers as well as the state’s local insurers in the short run, according to a new report by Fitch Ratings. However, in the long run, …
Montana State Auditor John Morrison has been named chair of the Market Regulation and Consumer Affairs Committee of the National Association of Insurance Commissioners. Morrison will lead the committee’s oversight of the marketplace conduct of insurance companies and agents across …
The convening of the Florida Legislature this week will present an opportunity for legislators to reconsider some of the problematic measures passed in 2007, according to the American Insurance Association. “From a public policy standpoint, there was very little good …
The new managed competition auto insurance system being implemented in Massachusetts rewards many bad drivers and penalizes many good drivers based on certain supposedly-prohibited social factors, according to the latest charges by critics. Many good drivers will pay more and …
Thomas Newgarden has joined Seattle-based Safeco as senior vice president of underwriting for Safeco Personal Insurance. Previously, Newgarden was senior vice president and chief underwriting officer of AIG Private Client Group. With 20 years experience leading product development and underwriting, …
With the 2008 legislative sessions now in full swing, many states are taking another look at the issue of insurers using credit scoring to underwrite or rate auto or homeowners insurance. Insurance trade groups are stepping up efforts in state …
Agents, insurers praise legislation’s defeat but say the battle is not over yet As the issue of credit scoring continues to be the subject of state legislative proposals, insurance agents in Colorado are celebrating the defeat of a bill that …
