What a difference a year makes in the world of ridesharing. Just 18 months ago, only one state (Colorado) had passed comprehensive legislation legalizing and regulating the emerging market of transportation network companies like Uber and Lyft. Now we’re down …
In the early 1990s, the insolvencies of three major life insurers – Executive Life, Mutual Benefit and Confederation Life – rocked the industry and threatened to bring about the end of the state-based system of insurance regulation the United States …
In the home of the Pilgrims, lawmakers have gone home ahead of the Thanksgiving holiday. The Massachusetts Legislature has adjourned for 2015, having failed to move on any of four bills introduced this year that proposed statewide regulation for ridesharing …
In his seminal 1987 work Crisis and Leviathan, economic historian Robert Higgs traces the pattern of government growth as a response to catastrophic events. The federal government, in particular, grows over time through a “ratcheting up” effect, as politicians respond …
Earlier this week, I covered South Carolina’s “1,000-year storm,” questioning whether we can actually say with any kind of certainty that such events are, in fact, all that rare. But South Carolina wasn’t the only state affected by the passage …
Over the weekend, the nation saw the horrific toll of massive flooding across South Carolina, which has left at least nine dead. The Charleston area got nearly a dozen inches of rain on Saturday, while some parts of the state …
Federal disaster aid granted to communities hit by natural catastrophes causes demand for property insurance to fall by six times as much, according to a new issue briefing from the University of Pennsylvania’s Wharton Risk Management and Decision Processes Center. …
I hate to say I told you so. Actually, scratch that. I love to say I told you so. I just wish it weren’t necessary in this case. Back in January, when Congress passed a six-year extension of the federal …
The California Earthquake Authority long has had trouble getting Golden Staters to buy protection for the most devastating natural disaster most of them face. Indeed, if anything, California’s earthquake insurance market is more a story of regress than progress. While …
The federal excise tax does not apply to reinsurance or retrocession transactions between foreign insurers, even if the transaction covers U.S. risks, according to a May 26 decision from the U.S. Court of Appeals for the District of Columbia. At …
