Louisiana is suffering a property insurance crisis, with policies becoming increasingly unavailable and unaffordable. Temple is pushing an anti-consumer agenda that will strip policyholders of their rights and result in higher costs and less availability for Louisiana consumers. This measure would force even more Louisiana homeowners to purchase a…
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NY Gov. Hochul vetoes ‘wrongful death’ legislation opposed by insurers
New York Gov. Kathy Hochul again vetoed legislation that would permit families of “wrongful death” victims to receive additional compensation for emotional suffering.
The question of self-insurance: Helping clients navigate the risks
Self-insurance presents an alternative, but it’s not without its risks and considerations.
Police also charged Nicole Lynn Zaborowski, 34, of the 300 block of Claremont Drive in Lower Burrell with two felony counts of filing a false insurance claim and a misdemeanor count of making false reports. Police wrote in a criminal complaint that Nicole Zaborowski called police to report that her mother was driving a GMC Arcadia SUV on Oct. 26 when she was…
2024 will be the year data finally starts working for you
Data and artificial intelligence will enable the industry to be more effective and serve more consumers in 2024.
Insurers look at challenges, efficiencies for 2024
The new year, 2024, will present many new challenges and shifting trends in the insurance industry, according to J.D. Power.
State Farm is expected to increase its average rate for homeowner insurance policies in California by 20% next year, under a proposal approved last week by the Department of Insurance, records shows. In 2022, the most recent data available, State Farm held more than one out of every five homeowner policies in the state, according to the department.
Chris Finnie didn "t lose her Boulder Creek home when the CZU Lightning Complex fires in 2020 ripped through the Santa Cruz Mountains. In a state already grappling with unaffordable housing, the cost of insuring homes in much of California is about to get a lot higher. Companies such as State Farm, Allstate and Farmers Insurance stopped issuing or limited new…
OUR POSITION: The Legislature has hinted it will look at changes in Florida's no-fault car insurance. All Florida residents are required to have auto insurance and that means a no-fault policy. The Legislature designed the no-fault insurance way back in 1979..
But with the frequency of extreme weather events rising in Texas and across the nation, the future of that business is falling into increasing question. Texas racked up $375 billion in damage from weather and climate disasters between 2018 and 2022– more than any other state– according to this year's National Climate Assessment. Roger Newman, an insurance…
Judge green lights lawsuit accusing State Farm of fraud in accident claims
A class-action lawsuit accusing State Farm of “a fraudulent scheme” to undervalue vehicle loss assessments can continue, a federal judge ruled last week.
The June 15 storm was one for the history books. The storm that hit the Lawton area that late Thursday afternoon left massive damage in its wake— due mostly to strong winds and chunks of hail that pounded down for what seemed like an hour but was only a matter of minutes. About 40 percent of the residential structures in Lawton sustained roof damage, insurance agents…
Insurance Commissioner Ricardo Lara issued a memo Thursday with a warning to automobile insurance companies: Change your practices or face discipline. That message came after Californians had complained to the Department of Insurance about waiting periods, questionnaires and other practices that may violate state law. In particular, Lara’ s memo said that…
I state that up front because I believe in what I do and I think today's topic is important enough to address every negative people use to make bad decisions. Also, most people believe that insurance agents try to over-sell them. While in truth the opposite is true, most agents worry too much about getting the sale and don't offer all the products you may need.
TALLAHASSEE— House Insurance& Banking Chairman Wyman Duggan indicated Friday that lawmakers could address the state's longstanding no-fault auto insurance system during the 2024 legislative session. Duggan, R- Jacksonville, suggested lawmakers will consider repealing the no-fault system and its requirement that motorists carry $10,000 in…
Ensure holiday cheer by helping your policyholders avoid Christmas catastrophes
Help your clients skate through the holiday season by avoiding common homeowners’ hazards that can steal Christmas faster than the Grinch.
Recent reports about drivers in California experiencing unprecedented difficulties in obtaining insurance have prompted the usual reaction from ardent defenders of Proposition 103. Pure, simple greed is driving insurers' actions, says Proposition 103' s author— Harvey Rosenfeld, founder of Consumer Watchdog. Yes, the point made by consumer advocates…
California is a step closer to getting long-promised firefighting aircraft in the air. Five years ago, Congress told the U.S. Air Force to convert seven surplus Coast Guard aircraft into firefighting tankers for California’ s fire protection agency. John Boozman, R- Ark., inserted a provision in a 2024 defense spending bill to send the C-130 aircraft to California…
Commentary: The Senate shouldn’t have to investigate insurance companies
It’s disturbing that insurance regulators have done little to tackle the threats posed by climate risks and the potential consequences for policyholders when insurers can no longer protect them in the event of property damage or destruction.
CoreLogic compiled a review of some of the most impactful storms, wildfires and other natural disasters of 2023.