Live Insurance News

Tesla Settles Sudden Acceleration Case – What It Means for Self-Driving Tech

April 23, 2025 Nordstrom

Tesla News and how car insurance companies are dealing with AV tech

Tesla Settles Wrongful Death Lawsuit Over Sudden Acceleration in Model Y, Raising Questions About Liability in Autonomous Vehicle Era Tesla once again finds itself in the headlines—not for another innovation but for quietly settling a wrongful death lawsuit earlier this week. At the center of this case was the tragic 2021 death of Clyde Leach, a 72-year-old Model Y driver, whose vehicle unexpectedly accelerated, veered off a road, and crashed into a gas station pillar. While this legal battle has now been laid to rest, the case opens Pandora’s box…

Can This New Law Fix Insurance Complaints Faster? New Mexico Thinks So

April 23, 2025April 23, 2025 Tate Ellison

New Mexico Grants Subpoena Power to Superintendent of Insurance: What Does it Really Mean for You? – A New Tool for Accountability in the Insurance World New Mexico has made a striking change to its regulatory landscape with the passage of Senate Bill 124 (SB 124). Signed into law on April 10, 2025, this legislation arms the state’s superintendent of insurance with a significant tool for oversight. For the first time, the superintendent can issue civil investigative subpoenas during the early phases of investigations, before formal action begins. This move…

11 Catastrophes, $1B in Losses, and One Financial Cushion for Allstate

April 22, 2025 Live Insurance News

Allstate's $2 Billion Deal: What Investors and Policyholders Need to Know About the Big Sell-Off

Allstate Projects $123M Reinsurance Recovery Amid Heavy March Catastrophe Losses For Allstate, March came in swinging, delivering a staggering $1.04 billion in catastrophe-related losses. This wave of destruction, driven largely by four major wind and hail events among 11 reported incidents, isn’t just another line item in their books. These disasters hit hard, but Allstate isn’t entirely shouldering the financial blow. Thanks to their aggregate reinsurance program, the company is set to recover approximately $123 million, a much-needed safety net in a turbulent season. Here’s the deal. Allstate’s aggregate reinsurance…

Are California Insurance Giants Playing Fair? Homeowners Say No, and They’re Suing

April 22, 2025 Live Insurance News

California Lawsuit – Short Insurance News Update California homeowners are turning to the courts in a fight over what they say is more than just insurance policies gone awry. Two separate lawsuits accuse major insurers like State Farm, Farmers, and others of colluding to push policyholders onto California’s FAIR Plan, a last-resort insurance pool that delivers bare-bones coverage at premium prices. Here’s the crux of the argument. The lawsuits, filed in Los Angeles County, allege that insurers deliberately scaled back coverage and dropped customers in wildfire-prone areas. The FAIR Plan,…

Why Driving in New Jersey Is Becoming Almost as Expensive as Parking in Manhattan

April 22, 2025April 22, 2025 G. Turner

New Jersey’s Rising Auto Insurance Costs: History, Challenges, and What’s Next Once upon a time—not too long ago—New Jersey’s auto insurance market teetered on the brink of collapse. Premiums were sky-high (we’re talking highest-in-the-nation levels), and insurers were practically running for the exits. Throw in rampant fraud, legal wrangling, and a Wild West claims environment, and you had a perfect storm. Back then, lawmakers stepped in with targeted reforms to bring order to chaos. Rates stabilized, insurers stayed put, and residents could finally afford coverage. But here we are again,…

How this Healthcare Giant’s Challenges Could Change Insurance as We Know It

April 21, 2025 Angela Linders

unitedhealth stock drop and worries of ACA enrollment

UnitedHealth Group Stock Struggles Continue Amid Medicare and ACA Challenges UnitedHealth Group, a giant in the U.S. healthcare industry, has been navigating rough waters lately. You may have noticed headlines about their plummeting stock prices or whispers of trouble in Medicare Advantage plans and Affordable Care Act (ACA) marketplaces. But what does all this mean for you, the average healthcare consumer or investor? Let’s break it down in a way that makes sense without the corporate-speak. UnitedHealth’s Stock Slide Sparks Market Ripples Imagine this for a second. The largest health…

California Homeowners Take on Big Insurers Over Alleged Conspiracy

April 21, 2025April 20, 2025 Nordstrom

California Insurers Face Allegations of Collusion in Wake of Wildfires California’s fiery start to the year has left a group of homeowners turning to legal action against some of the state’s largest insurance providers. Lawsuits filed in recent months accuse major insurers, including State Farm and Farmers Insurance, of conspiring to push homeowners in wildfire-prone areas toward the California FAIR Plan, a state-administered program meant as a last resort for those unable to secure traditional coverage. The allegations center on unfair business practices and antitrust violations, igniting a broader debate…