Category: Political News

The political arena is ripe with news from the insurance industry – 2012 being a presidential election year, as well as other changes, have made for one of the hottest news topics we have.

Wisconsin governor signs workers compensation bill into law

H. Cutner
Workers Compensation - Wisconsin Bill

Governor Tony Evers signed Assembly Bill 1073 to make it 2023 Wisconsin Act 213. Wisconsin Governor Tony Evers signed Assembly Bill 1073 regarding improvements to workers compensation in the state, making it 2023 Wisconsin Act 213. The changes were made based on recommendations by the WCAC The Workers Compensation Advisory Council (WCAC) made recommendations for the changes to the state system, and these helped to guide the creation of the bill. Governor Evers signed the bill at the State Capitol in his office, in the presence of voting WCAC members,…

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Colorado Gun Insurance Bill Moves Forward Amid Diverse Opinions

G. Turner
gun insurance

Article Update: On April 20, the Colorado House passed a bill requiring all gun owners to have liability insurance for accidental firearm discharges, starting January 1, 2025. Representatives Steven Woodrow and Iman Jodeh, HB24-1270 aims to promote responsible gun ownership and was narrowly approved with support from key Democrats. The legislation allows for coverage through existing insurance policies and includes provisions for those unable to afford it. Woodrow emphasized the bill’s role in covering the costs of gun violence and ensuring safer communities, while Jodeh likened the insurance requirement to…

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Unraveling Florida’s Insurance Exodus: Weather or More?

G. Turner
florida insurance

Florida, a state synonymous with sun-kissed beaches and, unfortunately, hurricanes, is caught in a whirlwind of an insurance crisis. Insurance companies seem to be abandoning ship despite a 2023 mild hurricane season. The exodus begs the question: What’s really prompting these insurers to run for the hills? Weather Warnings vs. Reality The threat of hurricanes has long cast a shadow over the sunshine state, prompting persistent fears that insurers are dwindling due to natural disasters. And indeed, the increased risk of such events has influenced insurers’ decisions. But to attribute…

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California’s Insurer of Last Resort on the Brink Amid Wildfire Crisis

Angela Linders
california fair plan

Catastrophic Wildfires Upend Insurance Landscapes The California Fair Access to Insurance Requirements (FAIR) Plan, established as a safety net for homeowners in high-risk fire zones, faces an unprecedented threat of insolvency amid a flurry of catastrophic wildfires and increasing claims. This predicament has sparked intense scrutiny and discussions on sustainable insurance strategies while leaving many to wonder about the future of fire insurance availability in the state. The Increasing Burden on California FAIR Plan With an exodus of insurers from California’s market, the FAIR Plan has swelled to double its…

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New National Association of Insurance Commissioners CEO is Gary Anderson

Nordstrom
National Association of Insurance Commissioners - New CEO

NAIC has announced that its new chief executive officer has now been named The National Association of Insurance Commissioners recently announced that they have appointed a new CEO.  The appointment went to Gary Anderson, the current Massachusetts Insurance Commissioner and veteran of the industry. Anderson will start at his new position on May 1, 2024 The start date for Anderson as CEO of the National Association of Insurance Commissioners will be May 1, giving him enough time to finish his service as the Massachusetts Insurance Commissioner. This will have him…

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