Insurance News Daily

North Carolinian legislators are toiling over a new bill that could make insurers a lot of money. The bill, which has the support of some of the state’s largest insurance companies, would enable auto insurers to raise their rates by 15% every year. There are also provisions within the legislation that would put strict limitations on the regulatory authority of North Carolina, giving companies more freedom to operate as they…

Michigan drivers will be facing assessment fees to be instituted by the Michigan Catastrophic Claims Association (MCCA) beginning this summer. These fees are meant to help insurance companies cover the cost of disastrous injuries resulting from auto accidents. The MCCA claims that the fee is necessary to offset the huge financial loss facing insurers who provide coverage for victims of accidents whose care exceeds $500,000. There has been some scrutiny…

Unusual reports are coming out of South Florida regarding the use of automatic red light cameras. Instead of making the cities money, officials are reporting a financial loss, citing a number of residents fighting the red light tickets and winning. When first installed in the areas of Pembroke Pines to Fort Lauderdale, the communities expected millions of revenue for fines but just the opposite happened. Police officials are reporting more…