U.S. insurers are adopting numerous strategies to deal with risks from climate change, according to a review out today that gives the first look at how or if insurance companies are adopting the widely used Task Force for Financial Disclosure …
Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows a similar decision by State Farm last month and adds to a growing list of major carriers cooling on California. “We …
State Farm’s announcement last week that the carrier was no longer writing new personal or business property/casualty policies in California “reflects the poor underwriting experience for California homeowners’ writers,” a ratings agency said on Wednesday. Fitch Ratings issued a statement …
An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …
Illinois became the latest state to pass public adjuster reform legislation when the Illinois Public Adjuster bill (SB 1495) passed both houses of the legislature and will move on to the governor. Indiana Gov. Eric Holcomb recently signed HB 1329, …
An Illinois bill allowing punitive damages in wrongful death cases will increase already high litigation costs, the American Property Casualty Insurance Association and the Illinois Insurance Association say. The groups issued the following statement in response to HB 219, addressing …
Montana Governor Greg Gianforte approved three legal reform measures intended to provide consumer protections and disclosures and reduce frivolous lawsuits with the ultimate goal of lowering costs and increasing the availability of insurance. “We applaud Gov. Gianforte and the Montana …
Associations representing insurers operating in California on Tuesday released an analysis from Milliman showing wildfire catastrophe models would improve homeowners’ access to insurance in the face of climate-induced wildfire risk. The analysis was commissioned by the Personal Insurance Federation of …
Judge Indu Thomas entered the final order declaring that Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule banning the use of credit-based insurance scores. Judge Thomas initially granted the industry’s petition for a declaratory judgment …
New Mexico Superintendent of Insurance Russell Toal and American Property Casualty Insurance Association President and CEO David A. Sampson are urging Congress to act quickly to pass the Hermit’s Peak Fire Assistance Act so residents impacted by the fire have …
