Property and Casualty News

The following information was released by the office of Arizona Senator Ruben Gallego:. WASHINGTON Today, Senator and Member of the Senate Committee on Banking, Housing, and Urban Affairs Ruben Gallego, and 19 other members of Congress sent letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers, and Allstate requesting information on the usage of…

The following information was released by the National Association of Insurance Commissioners:. The National Association of Insurance Commissioners has released a first-of-its-kind analysis of homeowners insurance market trends based on seven years of Market Conduct Annual Statement data collected by state insurance departments.

AM Best expects insured losses from the ongoing wildfires in and around Spokane, WA, to be considerable, with more-concentrated individual insurers likely to be more negatively impacted. “In the longer term, depending on the magnitude of the insured losses, primary insurers with a concentration of their homeowners’ or commercial property portfolio in areas…

Prior to the bill signings, Illinois was one of only two states, with Wyoming, that did not exercise regulatory control over insurance rates. The new laws come a little more than a year after Illinois- based State Farm announced it was raising homeowners insurance rates an average 27.2% statewide. In addition, State Farm recently noted that auto insurance rates…

NASHVILLE— Going back to school is an exciting time for students, educators, and parents. As the school year gets underway across the state, the Tennessee Department of Commerce and Insurance remindsconsumers that education doesn't stop in the classroom. TDCI's Insurance Division offers insurance tips and reminders to help make your back-to-school season…

Greg Abbott this week is laying out plans to lower health insurance costs and drug prices as the Republican governor continues to focus his reelection campaign on affordability ahead of a midterm likely to be dominated by cost-of-living concerns. The focus on health care could work to blunt a longstanding attack line for Democrats in the state: Texas'…

South Carolina bar owners won’ t get a reprieve from needing to carry at least $1 million in liability insurance. The final version of the state budget is expected to be voted on by both chambers when lawmakers are scheduled to return to Columbia on Aug. 11. South Carolina state government has been operating under a continuing resolution since July 1 because a new…

The Illinois Insurance Association, the American Property Casualty Insurance Association, and the National Association of Mutual Insurance Companies today issued the following joint statement after Governor JB Pritzker signed Senate Bill 714 and House Bill 4273 into law. Illinois residents should be prepared for the potential impact of these new laws:…

The following information was released by the Montana Commissioner of Securities and Insurance:. State Auditor James Brown acted in the interest of public safety by suspending the insurance producer license of a Kalispell bail bondsman accused of exploiting people under his supervision, including trading his services for sexual favors.

The following information was released by the Illinois Senate Democrats:. Capping off years of advocacy and negotiations, State Senator Michael E. Hastings championed a law that will protect Illinois homeowners from unfair rate hikes similar to those endured in the last few years. "From just 2021 to 2024, homeowners insurance costs in Illinois surged by…

The following information was released by the Illinois Senate Democrats:. State Senator Ram Villivalam spearheaded a new law that regulates auto insurance premiums in Illinois. Additionally, the law secures a path to relief for residents over age 55 by allowing the Illinois Secretary of State to find a course that meets or exceeds the standards of the…

WASHINGTON Today, Congresswoman Ayanna Pressley, a member of the House Financial Services Committee, and Senator Elizabeth Warren, Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, led 18 members of Congress in a set of letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers, and Allstate requesting information on the usage of…

The legislation, which took years to pass, hit on a theme Democrats who control the General Assembly have been trying to persuade voters this election year is a top priority: passing bills that make goods and services more affordable for Illinoisans. In Illinois, the company said it paid out $1.26 in claims for every $1 in premiums collected from homeowners in…

American Integrity Insurance Group, Inc., a Tampa- based property and casualty insurance holding company and one of Florida’ s leading providers of residential property insurance, announced that Senior Vice President of Risk Management Ryan Hodges received the Excellence in Risk Management Award in the Insurance Carriers category as part of…

The following information was released by Maryland Senator Chris Van Hollen:. Senator Chirs Van Hollen joined Senator Elizabeth Warren, Representative Ayanna Pressley, and 17 other members of Congress in a set of letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers, and Allstate requesting information on the usage of credit-based insurance…

The following information was released by the U.S. Senate Committee on Banking, Housing, and Urban Affairs:. Senator Elizabeth Warren, Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, and Representative Ayanna Pressley led 18 other members of Congress in a set of letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers, and…

Washington property insurers are acting as financial first responders to help their impacted customers recover from the wildfires devastating the Spokane metropolitan area, according to the Insurance Information Institute. This includes providing immediate relief through additional living expenses coverage for displaced policyholders.