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The bills place additional requirements on insurers in the state and expand consumer protections. -
Continuing rises in loss frequency and severity plus a difficult regulatory framework make the situation in California highly challenging for carriers.
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In the latest threat to the NZIA, 23 state AG have warned members that collaboration on decarbonization targets may not square with federal law.
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The Brazilian reinsurer agreed to pay $5mn in compensation to the US Department of Justice to resolve a fraud probe.
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The law firm and the partners McClenny, Moseley and Huye were each fined $500,000, the maximum allowed under current law.
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Personal lines rates ticked up in April compared to the prior month as insurers try to stay ahead of rising loss costs.
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The Brazilian reinsurer falsely disclosed that Berkshire Hathaway was a shareholder in the company to prop up the share price.
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On Thursday, the bill passed 70-40 in the state House of Representatives, after passing the Senate 26-13 last week.
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On Thursday, the bill passed 70-40 in Florida's House of Representatives, after passing the Senate last week.
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The state is focusing on “bad actors” who take advantage of homeowners, insurance commissioner Jim Donelon said during a press conference.
