Agents generally support legislation, but insurers caution changes could result in additional costs U.S. Reps. Judy Biggert, R-Ill., and Barney Frank, D-Mass., introduced bipartisan legislation to revamp the National Flood Insurance Program that boosts the program’s borrowing authority to $21.5 …
California has expanded its Low Cost Automobile Insurance Program to low-income, good drivers in Merced, Monterey, Santa Barbara, Sonoma, Tulare and Ventura counties, announced the California Department of Insurance. The program offers low-income, good drivers the opportunity to purchase auto …
In its report, Gov. Patrick’s auto insurance study group set forth these key recommendations: 1. The insurance commissioner should examine alternatives to move towards competitive rating using flex-bands, while maintaining affordability for all drivers, minimizing disruption to the market and …
U.S. Senator Trent Lott, R- Miss., wants to require insurers to disclose property insurance coverage and noncoverage in plain language on the front page of each homeowner’s policy and has introduced a bill giving the Federal Trade Commission enforcement authority …
Seventeen U.S. insurance companies became financially impaired in 2006, despite a respite for property/casualty insurers from two consecutive turbulent hurricane seasons and more diversified asset portfolios among life/health insurers. That is according to two new A.M. Best Co. special reports, …
The Washington Senate adopted an amended bill that insurance associations say will increase the number of lawsuits filed and needlessly drive up insurance costs for consumers. Senate Bill 5726 was developed to create an insurance fair conduct act. According to …
The Connecticut Supreme Court has adopted a new legal rule making it easier for plaintiffs to sue businesses in the state for negligence alleged in self-service operations. Customers who are injured at a business previously had to demonstrate that the …
Three recent deaths in all-terrain vehicle accidents in Arkansas, including a toddler and a teenager, are a reminder that ATV accidents are on the rise, and doctors at Arkansas Children’s Hospital want to see the trend reversed. “Arkansas has had …
America’s legal system imposes an economic cost of more than $865 billion, or more than $9,800 per family, every year, according to a new study released by the Pacific Research Institute (PRI), a free-market think tank based in San Francisco. …
The Workers’ Compensation Insurance Rating Bureau of California Governing Committee submitted a rate filing to the California Department of Insurance recommending a 11.3 percent decrease in advisory pure premium rates. If approved, the rate reduction would take effect July 1, …
