Live Insurance News

State Farm’s Wildfire Claims Spark New Investigation by California Regulators

June 14, 2025 G. Turner

California Investigates State Farm Over Wildfire Claims California’s Insurance Commissioner Ricardo Lara has newly launched a formal investigation into State Farm. Why? Complaints. Lots of them. Survivors of the January 2025 Palisades and Eaton wildfires are fed up. They’re accusing the insurance giant of delays, denials, and endless paperwork. It’s left many frustrated, financially strained, and emotionally drained. The wildfires were catastrophic. Over 16,000 buildings destroyed. Thirty lives lost. Thousands displaced. These fires weren’t just another disaster—they were among the costliest in U.S. history. And now, survivors are saying their…

Bills That Could Save Michigan Drivers Big Bucks on Insurance

June 12, 2025June 11, 2025 Marc

Michigan’s Plan to Slash Insurance Costs Michigan lawmakers have a new plan to tackle high auto insurance premiums. Sick of paying through the nose just to drive? Senator Jeff Irwin, a Democrat from Ann Arbor, thinks it’s time for a change. His two new bills aim to make insurance easier on your wallet and a little more forgiving. What’s the Deal with Senate Bill 328? First up, there’s Senate Bill 328 (SB 328). This one’s big on savings. If passed, it’ll require insurance companies to offer at least a 10%…

A Bold Idea: Can Parametric Insurance Help California Attract Competition?

June 5, 2025June 5, 2025 Ben Jones

California Insurance Crisis: What’s Going On? California’s got an insurance problem. It’s not a small hiccup; it’s a full-blown crisis. Why? It’s a perfect storm of wildfires, climate change, and big insurance companies saying, “No thanks.” Homeowners are being left high and dry, and it’s creating a scary situation. Why Are Insurance Companies Leaving? It all comes down to risk. Wildfires are happening more often, causing major destruction, and they’re harder to predict. For insurance companies, this means big payouts and shrinking profits. Some have simply decided it’s not worth…

The “Bump-Up” Clause Explained: Chubb and AIG’s Legal Win

May 29, 2025May 28, 2025 John Bowers

Chubb and AIG Score Big in Court Ruling Over Insurance Dispute What happens when companies argue over what their insurance should cover? Sometimes, it ends up in court. That’s exactly what happened recently, and big players like Chubb and AIG came out on top. Here’s the deal. What’s a “Bump-Up” Exclusion? A federal appeals court ruled in favor of insurers Chubb Ltd. and AIG over something called the “bump-up” exclusion. Sounds a little confusing, right? It’s not as wild as it sounds. This exclusion is a clause in directors and…

Louisiana Homeowners Could Face Hidden Gaps in ‘Stated Value’ Insurance

May 28, 2025May 31, 2025 Angela Linders

Louisiana’s Proposed ‘Stated Value’ Insurance Policies Raise Questions About Long-Term Protection Homeowners in Louisiana might soon have the option to purchase “stated value” insurance policies, thanks to a bill recently approved by the Louisiana House. On the surface, this legislation appears to be a win for consumers. By allowing homeowners to insure their properties for a declared amount, it could offer a more affordable option compared to traditional policies that cover full market or replacement costs. But there maybe a catch. One potentially significant omission in these policies? No inflation…

Revving Up Reform: Louisiana Auto Insurance Shake-Up

May 27, 2025 Ben Jones

Louisiana’s Auto Insurance Overhaul Inches Closer For drivers in Louisiana, changes might be coming—but not without some drama along the way. Lawmakers are pushing forward with a mix of bills aimed at tackling auto insurance issues, including high rates and legal loopholes. But where do things stand now? And when will decisions be made? Here’s the latest. House Bill 148 Closes in on Final Approval One of the most closely watched measures is House Bill 148, which has already cleared some significant hurdles. This bill would give the insurance commissioner more…

No More Guesswork in Texas Insurance Claim Disputes

May 24, 2025 Angela Linders

Texas insurance law - claims payouts with appraisals explained

Texas Moves Forward with Insurance Reform Bill to Simplify Claims Process Things are shaking up in the Texas insurance world. Senate Bill 458 (SB 458) has just cleared the Texas House and is now on its way to the Senate for a final vote. If it gets the green light there, Governor Greg Abbott’s signature will make it official law. The goal? To create a fair and streamlined process for resolving disputes between policyholders and insurers. And it’s not just for auto coverage. Homeowners are included too. What’s This All…