The Federal Reserve is highlighting the importance of its political independence at a time when Donald Trump, who frequently attacked the Fed's policymaking in the past, edges closer to formally becoming the Republican nominee for president. Rail cars carrying hazardous material have derailed and burst into flames in a remote area of North Dakota.
INN Insider News
In a Tuesday town hall, Insurance Commissioner Ricardo Lara acknowledged the fear of many California homeowners– that easing the insurance crisis will take much more work, and potentially years, to fully tackle. Wicks represents the East Bay, including Richmond, Berkeley and the Oakland hills– the site of a devastating fire in 1991 that destroyed more than 3,000…
Massachusetts Mutual Life Insurance Co. said it will expand genetic testing for policy owners to reveal health risk factors and how people can mitigate them. MassMutual will expand a partnership with United Kingdom- based health care and polygenic testing firm Genomics plc that offers policy owners a genetic risk assessment aimed at providing greater…
Louisiana will require Medicaid and private health insurance plans to cover menopause and perimenopause treatment. The new law should ease access to hormone replacement therapy for those patients. House Bill 392, sponsored by Rep. Aimee Freeman, D-New Orleans, goes into effect Aug. 1. She brought the legislation after local doctors complained they couldn’t get hormone…
Flood insurance covers many things, but they have to have been damaged under specific weather-related circumstances. Here's what to know.
The other week, my wife and I were driving to a restaurant when a black pickup truck suddenly jumped into our lane. There are few sounds I hate more than car metal crashing into car metal. I tell you this story because when I called my auto insurer, State Farm, the woman who took down the information said,“ Oh, that was on Highway 377 at 6:32 p.m.”.
The head of the U.S. Federal Reserve warned that the U.S. economy is too strong to justify such high deficits and urged Washington to address its fiscal imbalance "sooner rather than later," in a sign of growing concern among monetary policymakers about rampant government spending. His comments came amid intensifying concerns about debt levels, as both…
It was another momentous term- inside the Supreme Court and out. The conservative supermajority continued to shift the law to the right, embracing an expansive view of presidential immunity favored by Donald Trump, overturning a major precedent on federal regulation long targeted by conservatives, and nixing a ban on a device to make semiautomatic rifles…
Alameda County District Attorney Pamela Price's Consumer Justice Bureau has sued multiple home insurance carriers in California, including Farmers Insurance Exchange, alleging they're operating a scheme that knowingly and systematically underinsures homes in California.. However, this also leads to systemic underinsurance in California, leaving…
Home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 and 2023, according to analysis by researchers at the Insurance Information Institute ( Triple-I. Industry data from the National Association of Insurance Commissioners (NAIC) and Florida Office of Insurance Regulation (OIR) shows average statewide home premiums…
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024.. According to Fitch's latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply chain shortages has subsided, combined with rapid written premium growth from…
Those were some of the major points outlined by Thomas Wetzel, an AI and cybersecurity consultant and educator for the insurance industry. He spoke to a packed meeting room at the Florida Association of Insurance Agents' annual convention in Orlando in June. "Insurance companies are going to become more comfortable insuring more types of things than they ever…
Both hurricanes made landfall in the summer of 2017; Harvey hit Texas on Aug. 25, and Irma crossed into Florida on Sept. 10. The Texas Department of Insurance reported at the end of 2018 that the state's insurers estimated they would ultimately pay out about $20 billion for Harvey claims. The flood insurance study was penned by University of Illinois professor…
More than half of U.S. homeowners did not check their roofs for issues between February 2023 and 2024, according to a recent report by The Hanover Insurance Group. Only 38% of survey respondents reported checking for roof issues— including damaged shingles and sealant— and Hanover found that roof inspections were the maintenance task least likely to be…
I readily admit that lists of top risks, top threats, and opportunities for insurance are well-trodden ground, and ranking risks in order of importance inevitably triggers debate about which risk should be near the top or bottom, rather than the actual risks on the list. And from an insurer's perspective looking down a typical list of risks, some will be dismissed…
GEICO Insurance companies have continued their campaign against alleged auto insurance fraud actors, including some well-known physicians and medical clinics. And a federal judge ruled in June that two of those practitioners cannot escape a $2.8 million lawsuit in North Carolina.. Erik Bendiks, who practices in Georgia and North Carolina, and Dr.
The auto insurance and repair industry must "adapt to new patterns and prepare for an unpredictable future," according to the Crash Course Q2 2024 report released by CCC Intelligent Solutions Inc., a P/ C cloud platform provider. CCC found that geographic shifts where there has been influx of new residents to hurricane- and hail-prone areas like Florida, Colorado…
WASHINGTON- U.S. inflation is slowing again after higher measurements earlier this year, Federal Reserve Chairman Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed cuts interest rates. After some reports of persistently high inflation in early 2024, Powell said, the April and May data "do suggest that we are…
A new analysis from KFF digs into insurers' financial performance across multiple markets and found the highest gross margins in the Medicare Advantage space.