The historical lessons learned from Katrina and Rita, and looming predictions of a future with bigger and stronger storms have made flood insurance popular these days — even in locations where it was previously thought unnecessary. The National Flood Insurance …
The California Department of Insurance has revised its proposed “odometer verification” regulations, deleting provisions that would have authorized insurers to require agents to verify the mileage if they met in person with an applicant or policyholder. Yet insurance associations still …
The American Association of Managing General Agents (AAMGA) commends efforts to modernize commercial insurance markets while maintaining the state-based system of insurance regulation and the surplus lines market’s fundamental precept of freedom from rate and form. We support the provisions …
Growing up on Long Island, N.Y., Nicole Nason was taught how to drive by the man in charge of the local highway safety patrol: Her dad. Neighborhood friends knew wearing a seat belt was mandatory and the speed limit would …
Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing on Insurance Regulation Reform. Beneducci spoke as a …
California’s fourth-largest provider of auto insurance has agreed to base its rates on safety and driving frequency rather than primarily on where a driver lives. The plan, to take effect Dec. 1, would cut some $133 million from the annual …
With a spate of wildfires in Southern California and an explosion of lightning-ignited blazes in the northeastern part of the state, the start of this year’s fire season has many officials on edge. As of mid-July, California had 3,295 fires …
Safeco President and CEO Paula Reynolds announced executive changes made to accelerate the company’s progress toward becoming a low-cost insurance provider with distinctive products and services. Mike Hughes was named executive vice president-Insurance Operations, overseeing profit-and-loss for personal and commercial …
Utah board recommends traffic tickets not be reported to insurers The Holladay Citizens Advisory Board in Utah has recommended some traffic tickets not be reported to insurance companies so the offenders’ premium rates don’t increase. The proposal is opposed by …
Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing on Insurance Regulation Reform. Beneducci spoke as a …
