Florida’s state-backed property insurer is lowering the amount of coverage it provides for high-value properties from $1 million to $900,000, per a 2013 law change. Citizens Property Insurance Corp. is implementing the change that applies to almost all new and …
The Massachusetts Property Insurance Underwriting Association (MPIUA) — also known as the Massachusetts FAIR Plan — has expanded to include the writing of dwelling liability coverage, effective Jan. 7, 2015. The expansion is mandated by S-465 (“An Act Relative to …
Auto thefts in New York and Massachusetts have fallen by 90 percent or more from their peak years, according to a historical analysis by the National Insurance Crime Bureau (NICB). From its peak auto theft year in 1990 when 187,591 …
A governor’s commission aimed at addressing New Hampshire’s high workers’ compensation costs recommended no significant changes to state laws in a new report and instead suggested gathering more data and continuing to study the issue. A minority of the committee …
Maryland’s Republican Gov.-elect Larry Hogan has named Al Redmer, Jr. to be the state’s insurance commissioner. Maryland’s current insurance commissioner, Therese M. Goldsmith, previously announced that she would step down from the post when Hogan assumes the governor’s office on …
Rhode Island’s Insurance Superintendent Joseph Torti III issued a bulletin on Dec. 22 on the Ocean State transitioning to new license categories for adjusters. “Effective Jan. 1, 2015 the Rhode Island Insurance Claim Adjuster statute has been amended,” Superintendent Torti …
Los Angeles-based Farmers Insurance announced it will offer insurance and financial services to Connecticut consumers starting in January. Farmers began a concerted effort in 2011 to expand its presence along the eastern seaboard. The national insurer opened new offices in …
Independent insurance agents’ strengths in customer service and risk management could be challenged by changing consumer behaviors, new technologies and the evolving competitive landscape, according to a new report by Accenture. The report is based on a survey of more …
BNSF Railway Co., the railroad owned by Warren Buffett’s Berkshire Hathaway Inc., is reconsidering a plan to buy 5,000 oil-tank cars built to new safety standards after some customers voiced concern about the initiative. “At first everybody applauded us for …
Private mortgage insurers in the United States may have to cut premiums to better compete with the Federal Housing Administration, which plans to reduce premiums in the government’s latest attempt to encourage first-time homebuyers. Companies such as MGIC Investment Corp. …
