Category: Insurance News

Commissioner Lara invites public input on latest major step to expand insurance coverage in California SACRAMENTO, Calif. — Insurance Commissioner Ricardo Lara invited public input on a proposal to increase the writing of insurance in parts of the state most affected by wildfires and other extreme weather catastrophes. The public notice outlines the Department’s approach…

Helena, Mont.—Troy Downing, the Montana Commissioner of Securities and Insurance (CSI), is pleased to report that State Farm Mutual Automobile Insurance Co. (State Farm) has reviewed an additional 18,000 claims after being fined $4 million in a CSI administrative action for unfair claims settlement practices. These reviews resulted in an additional $5.2 million paid to…

[CARSON CITY, NV] — The Nevada Division of Insurance (Division) is pleased to announce the approval and filing of Proposed Regulation R109-23- Annuity Suitability and Best Interest Standard. Adopted by Insurance Commissioner Scott Kipper on September 4, 2024, the regulation was subsequently approved by the Legislative Commission and filed with the Nevada Secretary of State on…

(LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) is urging residents to review their auto, home, and renters’ insurance policies to ensure they fully understand their coverage and have a plan to pay policy deductibles in the event of an emergency. Additionally, taking proactive steps to prevent winter-related damage can help reduce repair…

Today Superintendent of Financial Services Adrienne A. Harris issued for public comment a proposed circular letter addressing the use of artificial intelligence by licensed insurers. “Technological advances that allow for greater efficiency in underwriting and pricing should never come at the expense of consumer protection,” said Superintendent Harris. “DFS has a responsibility to ensure that…

Division releases annual Complaint and Recoveries Report. DENVER – Today the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), released its FY 2023-24 Annual Complaint and Recoveries Report(opens in new window). The report not only details the $26.4 million the DOI recovered for Coloradans, but also breaks down the number of…

The Oregon Division of Financial Regulation (DFR), through its consumer advocates, recovered nearly $1.6 million for Oregonians in the third quarter of 2024. DFR’s consumer advocates field calls every day from concerned and confused Oregonians over insurance and financial issues from institutions that are regulated by the division. Advocates have extensive industry knowledge and they…

Phoenix, AZ – Arizona Department of Insurance and Financial Institutions (DIFI) Director Barbara D. Richardson has established the Resiliency and Mitigation Council (Council) to investigate the availability and affordability of personal homeowners insurance in forested areas and wildland-urban interface (WUI) areas of Arizona.  The Department is aware of the difficulties that Arizona homeowners in these…

September is considered the peak of hurricane activity, but it’s important to remember hurricane season runs through November. The Texas Department of Insurance (TDI) urges consumers to stay prepared and monitor conditions along the Gulf Coast. Severe weather can develop quickly. Take steps to protect your family and property by preparing before the next storm…

Labor productivity in the nonfarm business sector of the US increased by 2.2% in the third quarter of 2024, a figure that was unchanged from the previous projections. A 1.2% increase in hours worked and a 3.5% increase in output were the primary reasons for this productivity increase. Productivity increased by 2.0% in the previous…