Tag: insurance industry changes

Rising Auto Insurance Costs in California: The New Law You Can’t Ignore

Live Insurance News
California Auto Insurance

New California Law Increases Minimum Auto Insurance Limits Overview of Senate Bill 1107 California is set to implement a significant change in auto insurance coverage as Senate Bill 1107 takes effect on January 1, 2025. This new law mandates an increase in the minimum liability limits required for motor vehicle insurance, impacting private passenger autos, commercial businesses, and recreational vehicles alike. The revamped limits aim to offer better protection for drivers in light of escalating costs associated with accidents. Understanding the New Minimum Liability Limits The updated minimum liability insurance…

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Insurance industry reform call by Hillary Clinton at COP28 climate panel

Julie Campbell
Insurance industry - The word Reform

The former US Secretary of State said that it’s time for countries to “rethink” the coverage sector. Former US Secretary of State Hillary Clinton spoke at a COP28 climate panel at the start of this month, calling for insurance industry reforms. The purpose is to address the sector’s issues as insurers increasingly withdraw protection against climate perils. Among the countries and people most impacted by climate change are those in lower-income nations. They also face the greatest struggle to access coverage to protect themselves against economic effects. “We need to…

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