The legislation also amends the fee structure applied to insurers and insurance professionals operating in the state, including adjustments to licensing fees for producers, adjusters,
At the heart of the proposal is a state-administered insurance pool, funded through a combination of legislative appropriations (capped at $25 million), fees from participating
In 2023, the US P&C insurance sector recorded a net underwriting loss of $21.2 billion, a slight improvement from the previous year’s $24.9 billion loss.
Health insurance premiums in the US In 2024, the United States experienced a significant increase in health insurance premiums. The average annual premiums rose by
Despite these criticisms, the CDI points to its Consumer Complaint Center where consumers can file complaints and track their status. Additionally, CDI said that the
Bunch also said developments in California’s property segment are tied to wildfire exposure, confidence in new catastrophe models, and reinsurance support. Filing new programs in
The wildfires, fueled by strong Santa Ana winds and prolonged dry conditions, led to widespread destruction across multiple neighborhoods, damaging thousands of homes and businesses.
The ACLI has supported a transparent, data-driven approach to RBC processes, Haughawout said, adding that the task force is well-positioned to advance this effort. She
Article 0 Comments An auto insurance company was fined $975,000 for allegedly failing to protect the personal information of 45,000 New York residents. The office
Article 0 Comments Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities
