The National Association of Mutual Insurance Companies, the Illinois Insurance Association, and the American Property Casualty Insurance Association released the following statement in response to HB 3799 otherwise known as the rate regulation bill. Illinois consumers will be spared needless cost increases with the failure of HB 3799, an…
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Progressive Insurance is poised to refund its Florida auto insurance customers nearly $1 billion at the end of 2025 as a result of state regulations that bar auto insurers from earning excess profits from policies, Florida officials reported last week. The increasing profitability of insurers doing business in Florida’ s auto and property insurance…
—The prolonged government shutdown has disrupted the National Flood Insurance Program, leaving roughly half a million Louisiana policyholders in limbo and complicating property sales, U.S. Sen. The program, administered by the Federal Emergency Management Agency, has stopped writing policies and paused renewals of existing ones, a scenario Louisiana…
The Senate Transportation Committee, chaired by Sen. Judy Ward, Wednesday questioned the Pennsylvania Department of Transportation about fixing alleged lapses in car insurance during a hearing, according to a state release. The committee received testimony from several individuals, including PennDOT Secretary Mike Carroll and the president of…
To understand the voracious appetite of California wildfires in the past decade, you need to realize that 75% of the state’ s most destructive conflagrations have happened since 2015.. That devastation— and the federal and state dollars it burns through in suppression and prevention costs— has caught the attention of California Senator Alex Padilla, who is…
The following information was released by the Illinois Senate Democrats:. In order to protect community based foster care agencies from the increasing costs and the decreasing availability of liability insurance, State Senator Laura Fine passed legislation to analyze the current foster care liability insurance landscape in Illinois.
The following information was released by the Illinois Senate Democrats:. State Senator Michael E. Hastings advanced legislation designed to protect homeowners from excessive insurance rate increases and ensure fairness, transparency and accountability in Illinois homeowners insurance. "Here is what this means for Illinois homeowners no more surprise…
The following information was released by the Insurance Information Institute:. A new analysis by the Insurance Information Institute and the Casualty Actuarial Society, finds that legal system abuse and related litigation trends contributed to $231.6 billion to $281.2 billion found in increased liability insurance losses over the past decade, a surge…
State Farm is getting in on Florida "s auto insurance rate-cutting action. In a news release on Thursday, State Farm said its latest rate cut would bring down premiums for its customers by an average of 10%. State Farm has about 2.5 million Florida policies, the filings show.
The following information was released by Louisiana Senator Bill Cassidy:. U.S. Senator Bill Cassidy, M.D. delivered a speech on the U.S. Senate floor outlining the harm the Schumer Shutdown is causing daily for the half a million Louisianans enrolled in the National Flood Insurance Program. Cassidy called on Senate Democrats to work with Republicans to reopen…
A new analysis by the Insurance Information Institute and the Casualty Actuarial Society, finds that legal system abuse and related litigation trends contributed to $231.6 billion to $281.2 billion found in increased liability insurance losses over the past decade, a surge that far exceeds what can be explained by economic inflation alone.
The annual awards spotlighted the year’s most standout, innovative achievements celebrating Intelligent Insurance. More than 3,000 Guidewire customers and partners were in attendance. “Guidewire is delighted to celebrate the exceptional work of our customers and partners to reinvent and transform the P&C industry,” said Christina Colby, Chief Customer…
USAA, the seventh-largest home insurer in California, is seeking to raise rates by 7.3% for 2026, according to a recent filing with the California Department of Insurance. "Despite these challenges, USAA has expanded its presence in California." The average USAA home insurance policyholder pays $2,428 per year for coverage in California, according to the…
Home to nearly 350 employees, the 26,000- square-foot space- with the potential to expand by an additional 17,000 square feet- reinforces Arch Global Services India's commitment to establishing a long-term presence in India. Arch Global Services India is a wholly owned subsidiary of Arch Capital Group Ltd., a global provider of insurance, reinsurance and…
Trends show a new world of insurance litigation
Coverage litigation trends in U.S. federal courts since 2022 reflect a markedly different landscape from both the early COVID-19 years and the decade preceding them.
The following information was released by the Pennsylvania State Senate, Republican Caucus:. Judy Ward, held a hearing Wednesday to question the Pennsylvania Department of Transportation about fixing alleged lapses in car insurance. The committee received testimony from several individuals including PennDOT Secretary Mike Carroll and the president of…
The following information was released by the Illinois Senate Democrats:. State Senator Michael E. Hastings was joined at a press conference Wednesday by Senators Willie Preston, Paul Faraci, Meg Loughran Cappel, Christopher Belt and Doris Turner to announce new legislation designed to protect homeowners from excessive insurance rate increases and ensure…
New Location, Combined with Recent Hyderabad Opening, Reinforces Arch’ s Commitment to Becoming a Meaningful Employer in India. TRIVANDRUM, India—- Arch Global Services India today announced the grand opening of its new office in Trivandrum’ s Technopark. This office opening— in addition to the recent opening of a technology-focused office in Hyderabad— is part…
Now that the short grace period has expired, thousands of homeowners could face partial-risk assessments and higher rates unless Congress passes a retroactive extension. This lapse threatens tens of thousands of Mississippi families, delays home closings, and leaves homeowners uninsured in the middle of hurricane season. "Because Washington Democrats…
Roadzen Inc. (Nasdaq: RDZN) has signed a definitive agreement to acquire majority control of a U.S.-based commercial auto insurance brokerage and managing general underwriter (MGU). The transaction is aimed at expanding Roadzen’s footprint in the U.S. commercial auto insurance market, leveraging its AI-driven mobility and insurance platform to create deeper embedded-insurance capabilities. Strategic Highlights The…
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