U.S.
GEICO Faces California Class Action Claiming It Overcharged for Car Insurance
A federal judge on Monday said a lawsuit accusing GEICO Corp. of overcharging more than 2 million California policyholders on car insurance early in the COVID-19 pandemic may proceed as a class ...
Florida Cat Fund May Borrow Billions Next Year, Even Without Another Storm
The Florida Hurricane Catastrophe Fund is well equipped to handle losses from Hurricane Ian, which are now estimated to cost the fund about $10 billion, but it could mean the fund will have to borrow ...
Customers Frustrated by Longer Auto Repair Times: J.D. Power
Customer satisfaction with the auto claims process has eroded after four consecutive years of improvement, dropping 7 points to 873 (on a 1,000-point scale) compared to 2021, according to the J.D. ...
Viewpoint: Ranking Hurricane Ian Among the 10 Worst Natural Disasters in U.S. History
We are in the early stages of sifting through the debris of Hurricane Ian and calculating the financial and human toll it took after coming ashore in Southwest Florida with 150 mph winds and 20 ...
Court Dismisses 32 COVID-19 Business Insurance Cases Against Erie Insurance
A federal judge has dismissed 32 lawsuits over COVID-19 business interruption insurance claims against Erie Insurance, concluding the claimants failed to "plausibly plead" that they are entitled to ...
As Homeowners Rebuild After Ian, a Cooling New Housing Market Drops Material Costs
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine ...
Full Self-Driving Won’t Be Approved For Teslas This Year: Musk
Tesla Inc.'s advanced driver assistant software won't gain regulatory approval in 2022, CEO Elon Musk said in remarks last week, which indicate the company is not yet able to satisfy authorities that ...
Requiring Citizens’ Policyholders to Also Buy Flood Insurance Could Address Problems
Problem: Less than 20% of Floridians in vulnerable areas carry flood insurance. Uninsured flood losses from Hurricane Ian are projected to be as high as $16 billion – almost half as much as insured ...