Regulation & Compliance
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 ...
NY Proposes Plan to Stabilize Broken Taxi Insurance Market
New York Governor Kathy Hochul proposed measures to stabilize the city's taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance ...
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 ...
Mercury General Wildfire Losses Will Hit Reinsurance Cover. One Event?
Mercury General Corporation said it expects losses from wildfires burning in California since Jan. 7 to exceed its $150 million reinsurance retention, without providing a specific dollar estimate of ...
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 ...
Significant But ‘Manageable’ Insurance Losses Expected From LA Fires: S&P
Insurers are facing significant losses from the catastrophic Los Angeles wildfires—given the high value of homes and businesses in the affected communities. However, those losses are likely to be ...
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 ...