Consumer Federation of America (CFA) News

Insurance Executives Paid Millions in Compensation as Rates Skyrocket: CFA Findings

A new report from the Consumer Federation of America (CFA) says chief executives of insurance companies are “living high on the hog” as policyholders are forced to absorb increases in insurance rates. The research from the association of nonprofit consumer …

Insurance Industry Critic and ‘Conscience’ Hunter Retires From Consumer Federation

The man who served as the director of insurance for the Consumer Federation of America for nearly three decades is retiring. The official statement from the CFA describes J. Robert “Bob” Hunter as the “father of insurance consumer advocacy” in …

Watchdog Warns Withdrawal of Actuarial Principles Could Harm Consumers

U.S. regulators should strengthen their oversight of insurers to prevent potential overcharging and discrimination in selling coverage for cars and homes, a consumer watchdog group said on Thursday. The campaign by the Consumer Federation of America (CFA) comes after an …

Regulators Weigh Model Law for Pet Insurance to Address Consumer Peeves

U.S. insurance regulators are close to creating a legal standard for pet insurance that would address long-standing consumer complaints that insurers rarely pay up when their furry friends are not well. A National Association of Insurance Commissioners (NAIC) committee is …

Consumer Groups Want Auto Premiums to Reflect Coronavirus Curb on Driving

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …

Consumer Group Warns of Off-Road Vehicle Fatalities as July 4 Fun Begins

As summer begins, and as the July 4th holiday approaches, the Consumer Federation of America is issuing an alert to off-highway vehicle riders to operate their vehicles with caution. According to data gathered by CFA from 2013 through 2018, July …

Consumer Group Warns Off-Highway Vehicle Rider Deaths Peak in July

As the July 4th holiday arrives, the Consumer Federation of America (CFA) has issued an alert to off-highway vehicle (OHV) riders to operate their vehicles with caution. According to data gathered by CFA and its OHV Safety Coalition, July is …

Consumer Group Warns on Trump Budget Cut of Flood Map Funds

A proposal by the Trump administration to cut $190 million in funding for updating U.S. maps of flood-prone areas would trigger higher insurance rates or more homebuilding in risky locations, a consumer group said on Monday. Flood-mapping provides important details …

Insurers Can Track Mileage with Policyholders’ Smartphones

Property/casualty insurance information company Verisk Insurance Solutions is teaming with technology firm Vehcon to provide insurance companies with the ability to collect automobile odometer readings for insurance rating and usage-based insurance (UBI) programs. The product, called OdometerConfirm, allows insurers to …