Right Street

Mississippi Governor Signs Bill to Shift Wind Pool Fees to the Treasury

Mississippi may be thought of as conservative small-government state, but the state’s consumers pay higher taxes on their insurance products than in all but two other states. Unfortunately, under a bill just signed by Gov. Phil Bryant, the Legislature will …

With Deficits Rising, Michigan’s State Auto Reinsurer Again Raising Assessments

The Michigan Catastrophic Claims Association is once again raising its annual assessment to support the state’s no-fault auto insurance system, which uniquely guarantees unlimited lifetime medical benefits. And state Rep. Brett Roberts, R-Charlotte, wants to know why. “The fund has …

States Experiment with How to Address Towing and Storing Abuses

As stories about nonconsensual or “predatory” practices proliferate, a number of states have begun to consider legislation to mitigate some of the abuses of the towing and vehicle-storage industry. However, we remain a ways off from anything like a national …

Why ‘Big Data’ Will Force Insurance Companies to Think Hard About Race

The controversy surrounding the political consulting firm Cambridge Analytica’s use of personal data harvested from social media accounts without the users’ permission is among the first of what likely will be a long series of public debates about how the …

Superior Court Rules California Commissioner Can’t Consider Affiliates’ Assets

California Insurance Commissioner Dave Jones exceeded his statutory authority by considering the investment income of separate State Farm affiliates when he ordered State Farm General Insurance Co. to roll back its homeowners insurance rates retroactively, according to a “minute order” …

Private Flood Insurance Market Is Getting Bigger, More Competitive, Less Profitable

The U.S. market for privately written flood insurance grew by 51.2 percent last year, with state-level markets growing both more competitive and less profitable, according to 2017 statutory insurance filings compiled by S&P Global Market Intelligence. Comparing S&P’s data with …

Ross vs. Schwarcz: Scoring the Throw-Down

Just as any kid hates when mommy and daddy are fighting, I hate to see tempers flare between two public figures I respect. But should such a thing transpire – as it did in a March 7 hearing of the …

Keep the Mississippi Wind Pool Free of Politics

Mississippi Insurance Commissioner Mike Chaney wants the state Legislature to pass legislation to give him much more control over the Mississippi Windstorm Underwriting Association and how it manages its finances. That probably shouldn’t be surprising. He may be a conservative …

No Need to Raise Kansas Auto Insurance Limits

When legislation that would force consumers to buy more of a thing is opposed even by the companies who sell that thing, that’s a pretty good sign it’s a pretty bad idea. H.B. 2104, under consideration by the Kansas House …

Is ‘Target Vol’ Behind the Stock Market Gyrations?

It’s not been a great week for those who claim the insurance sector can never be a source of systemic risk. After a long period of quiet, market volatility—as measured by the benchmark VIX Index—is back, and insurers appear to …

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