Right Street

U.S. Regulators, Insurers Skeptical of Global Capital Standards

A new report commissioned by the Property Casualty Insurers Association of America and the National Association of Mutual Insurance Companies has found there would be significant economic costs associated with imposing global capital requirements on U.S. property and casualty insurers. …

CDI Ready to Review Ride-Sharing Insurance

Reasonable observers of California government must give credit when credit is due. In this case, the good news is that the California Department of Insurance reports it is prepared to review auto insurance policies for transportation network company drivers. The …

Does Prop 103 Violate Itself?

The history of the American administrative state has been filled with attempts to introduce “rationality” and “discipline” to circumstances in which markets, left to their own devices, allegedly lead to socially or politically undesirable outcomes. Brimming with good will and …

Mandates, Subsidies and Political Semantics

When the U.S. Supreme Court decided the fate of the Affordable Care Act’s individual mandate in 2012, the nation was gripped by an intimate and personal political drama worthy of Broadway or, at least, General Hospital. Debates about insurance mandates …

Florida’s Insurance Industry a Big Contributor to State Economy

Its status as a low-lying peninsula jutting 500 miles into the warmest, most hurricane-active waters in the world makes Florida one of the riskiest places to live. So it comes as no surprise that the cost to insure properties in …

Earthquake coverage should be standard for mortgage loans

When it comes to California earthquake insurance, affordability is in the eye of the beholder. Californians are not convinced that earthquake risk is sufficient to warrant the purchase of products that are currently available, made clear by just a 10 …

‘Ike Contingent’ Pounding Insurers with Texas Hail Claims

Insurance availability crises are nothing new. Nor is finger-pointing about what exactly causes them. In Texas, a red state that is nonetheless home to a robust plaintiffs’ bar, sparring in a particularly active legal blogosphere may portend the arrival of …

Rob Schneider: Makin’ Enemies

In a decision that had to be as awkward as it was necessary, State Farm has cut ties with pitchman Rob Schneider, following a social media campaign to make the home and auto insurance giant aware of the comedian’s unfortunate …

TNC Battle Ends With Gov. Brown’s Signature

Gov. Jerry Brown has lent his signature to compromise legislation that clarifies how and when transportation network companies are commercially insured. Sponsored by Assemblywoman Susan Bonilla, D-Concord, A.B. 2293, was one of the session’s highest-profile pieces of legislation. In its …

Fraud Costs Michigan Drivers $220M a Year

Auto insurance fraud costs Michigan drivers more than $220 million a year, Secretary of State Ruth Johnson announced while unveiling a set of 17 legislative and regulatory anti-fraud recommendations offered by the Fighting Auto Insurance Rip-offs (FAIR) Task. Johnson convened …

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