Live Insurance News

California auto insurance requires a lot of jumping through hoops

June 23, 2023June 22, 2023 Logan B.

Auto insurance - Business person standing on road looking at hoops to jump through

Drivers in the state are finding it particularly challenging to get the coverage they require. Drivers in California are finding themselves facing a slew of challenges to be able to get the auto insurance coverage they require, that is, when they’re not being outright declined. Some motorists are calling the hoops they’re jumping through a form of political ploy. California has been facing a tremendous challenge in the property coverage market, as large insurers such as Allstate and State Farm have announced that they are no longer selling new policies…

Erie Insurance company files suit against Maryland Insurance Administration

June 15, 2023June 14, 2023 Nordstrom

The insurer is suing over the administration’s race discrimination finding against the carrier. The Erie Insurance company has filed a federal court lawsuit against the Maryland Insurance Administration’s recent decision that the insurer had been pushing its agents to reject customers from parts of Baltimore where most of the population is Black. The lawsuit accuses the agency of having conducted an incomplete investigation into the insurer’s practices. According to the insurance company’s lawsuit, the Maryland Insurance Administration (MIA) did not conduct a complete investigation into the insurer’s practices. Moreover, it…

Florida’s state-run property insurance company to dump thousands of policies

June 13, 2023June 12, 2023 H. Cutner

Insurance company Dumps home insurance policyholders

Citizens is expected to drop tens of thousands of policyholders into the state’s private market. The largest insurance company in Florida is its state-run Citizens insurance, and that insurer has become massively bloated with policies over the last couple of years due to the ongoing crisis in the state. The insurer is supposed to be the last resort for homeowners seeking coverage in Florida. That said, after picking up over a million policies since the start of 2022, it is expected to take action to unload at least tens of…

Florida boosts home insurance oversight following investigation

June 6, 2023June 5, 2023 H. Cutner

New legislation has been introduced after an investigation showed disaster estimate slashing. Florida Governor Ron DeSantis (R) recently signed a new law that boosts home insurance company accountability for their claims handling processes. The insurers will be required to comply with additional transparency and oversight regulations. The new law requires home insurance companies to boost their process transparency and will be subject to higher fines for legal violations. The law also provides the regulators in the state additional authority to conduct investigations into allegations of bad behavior in a market…

Allstate 2022 auto insurance rate filings brings about changes to Georgia law

May 15, 2023May 13, 2023 Marc

The filing rules in the state will be changing under a new law driven forward by the insurer last year. Georgia Governor Brian Kemp recently signed a bill into law, providing the insurance commissioner in the state with the authority to review all auto insurance rate filings before they can become effective. The new law will become effective July 1, 2023, and preserves existing authority while making additions. Georgia House Bill 221 goes into effect July 1, 2023. It will maintain the approval powers the commissioner already held over mandatory…