Insurance Regulation
Not So Fast: State Farm Didn’t Prove Its Case for Rate Hike, CDI Says
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22 percent rate request from State Farm, instead calling a meeting with the carrier to get some answers about the ...
LA Fire-Related Capital Hit Prompts State Farm Emergency Rate Request
State Farm General Insurance revealed that it has asked the California Department of Insurance to approve an "interim emergency" homeowners insurance rate hike, citing declining capital and a ...
APCIA: Insurance Markets Work Best Without Excessive Price Regulation
The American Property Casualty Insurance Association (APCIA) recently released a report that concludes over-regulation impedes insurance markets "Insurance markets function best when allowed to ...
Insurance Commissioner Orders Advance Payments on Claims for LA Wildfire Survivors
California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles wildfire survivors. Lara's Jan. 23 order is designed ...
Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says
The U.S. Treasury's Federal Insurance Office last week released what it called the "most comprehensive data on homeowners insurance in history." Weeks after a U.S. Senate committee released a study ...
State Farm Pausing Nonrenewals in Compliance With CDI Notice
State Farm, in an update about its claims response to customers impacted by the wildfires in California, indicated that some policyholders slated for nonrenewals will get a reprieve from the giant ...
The Most Important 2025 Los Angeles Wildfire Stories; Latest Loss Estimates
As firefighters gain more control over what have become the most destructive wildfires in U.S. history in a matter of days, the scale of the destruction and losses is becoming clearer. Despite the ...
Why All the Fuss? Fairness Regulations Meet Insurers’ Growing Use of AI
Insurers worldwide are increasingly embracing artificial intelligence (AI) and machine learning (ML) powered decision support tools (Artificial Intelligence Systems or AIS)— both home-grown and ...