state legislation News

Florida Bill Would Limit AI in Claims Denials, Extend Bar on Execs, Raise Surplus Levels

After years of rising insurance premiums, anger from homeowners, and recent reports about some property insurance carriers’ alleged diverting of profits, bills seen as “consumer friendly” continue to gain traction in the Florida Legislature. One of those bills, Senate Bill …

Two More States Pass Bills to Require Disclosure of Litigation Funding

Lawmakers in two states passed bills this year to require disclosure of litigation funding contracts. Business groups are pushing for similar rules in federal courts nationwide. Montana Gov. Greg Gianforte on May 2 signed into law Senate Bill 269, which …

Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations

Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew – a storm that upended and transformed insurance and the manner in which communities prepare for natural disasters – to broadcast their conclusion that man-made threats are today …