Insurance Regulation
Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103%
Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103 percent. Citizens Property Insurance ...
Is the Broken Florida Homeowners Insurance Market Finally Fixed?
Between 2017 and 2022, 11 property and casualty insurers writing mainly homeowners insurance in Florida, where they were domiciled, were declared insolvent and placed in liquidation. This does not ...
Florida’s Homeowners Crisis Requires Insurance Stability, Legislative Reform and Smart Technology
Even before Hurricane Ian, Florida's home insurance market was hobbled by fraudulent claims, pricey lawsuits and financial mismanagement by some insurance firms. Floridians pay the highest annual ...
Report From California Insurers Calls for More Freedom to Use Wildfire Catastrophe Models
Associations representing insurers operating in California on Tuesday released an analysis from Milliman showing wildfire catastrophe models would improve homeowners' access to insurance in the face ...
NAIC Adds ‘Deep Concerns’ to FIO Bid to Collect Climate Change Data From Insurers
In a letter to the Treasury's Federal Insurance Office, the National Association of Insurance Commissioners expressed its "deep concern" over a proposal to collect data on climate-related risks from ...
Louisiana Insurance Commissioner Approves Citizens Rate Increase of 63%
Louisiana Insurance Commissioner Jim Donelon approved a significant rate hike for Louisiana Citizens residential property insurance policies, a move the insurance department blamed on rising costs of ...
Opinion: Consumers Pay the Price as Regulatory Interference Drives Property Insurance Market Instability
Many states are facing a growing affordability and availability crisis in property insurance markets, and it's not just because of climate change. While climate change is leading to more severe and ...
Insurers Warn California’s Inaction Threatens Auto Policies
Top U.S. insurance companies and associations say California is risking a crisis in the nation's largest automobile insurance market by refusing to approve any rate increases for more than two years, ...