insurance premiums News

California Calling for 60-Day Premium Grace Period Amid COVID-19 Outbreak

California Insurance Commissioner Ricardo Lara is asking insurers for a grace period on paying premiums. Lara today issued a notice requesting that all insurance companies provide their policyholders with at least a 60-day grace period to pay insurance premiums to …

Employee Charged with Stealing $900K from New Jersey Insurance Broker

A former accounting specialist in the Ridgefield Park, N.J., office of an insurance broker was arrested and charged with allegedly defrauding her employer of approximately $900,000, Acting U.S. Attorney William E. Fitzpatrick announced. Violeta McGough, 55, of Bergenfield, N.J., has …

$332B in Premiums Makes California World’s 4th Largest Insurance Market

California’s annual insurance premium volume has increased to $332 billion, Insurance Commissioner Dave Jones announced on Thursday. That makes California is the 4th largest insurance market in the world, and the state remains the largest insurance market in the United …

New Flood Maps Coming to Georgia Coast, but Flood Risk Remains

Experts say a new federal flood map of Glynn County along Georgia’s coast may lower insurance premiums next year – but not the risk of flooding. The updated Flood Insurance Rate Map, drawn by the Federal Emergency Management Agency, will …

Judge Approves $1M Loan so Alaska Newspaper Can Pay Workers’ Comp, Employees

A federal bankruptcy judge has approved a $1 million loan for the Alaska Dispatch News to keep it operating as negotiations continue with potential buyers. The newspaper will use the loan from potential buyers approved this week to continue paying …

Driver Fairness Bill Passes Delaware General Assembly

The Delaware State Senate has voted nearly unanimously (24-1) to pass House Substitute 1 for House Bill 80 (HS 1 for HB 80). This measure, a substitute to the Department of Insurance’s original HB 80, targets unfair discriminatory practices used …

New York Approves Workers’ Comp Renewal Notice Legislation

Final legislation has been approved in New York that aims to enable insurance agents to better serve workers’ compensation clients if signed into law by Governor Andrew Cuomo. The legislation was developed by the Independent Insurance Agents & Brokers of …

Tennessee Insurance Producer Fined $400K for Misappropriation of Client Premiums

The Tennessee Department of Commerce and Insurance (TDCI) has taken disciplinary action against Carey R. Carroll, Jr., a Knoxville-based former Tennessee insurance producer who was found to have violated multiple provisions of Tennessee law resulting in a $400,000 penalty and …

New Mexico to go after $193M in Premium Taxes

New Mexico failed to collect at least $193 million in taxes on insurance premiums over the past five years, even as the state struggles this year to close a major budget shortfall, according to an independent review of collections. New …

California Insurance Agent Faces Felony Charges for Pocketing Auto Premiums

Anthony John Diaz, 35, was arraigned today in the Fresno County Superior Court in California to answer charges that he allegedly stole insurance premiums from policyholders. Diaz was arrested earlier this month by California Department of Insurance detectives and booked …