Latest Property and casualty insurance providers News

Insurers say California's inaction threatens auto policies

Sep. 26, 2022 09:34 AM EDT

SACRAMENTO, Calif. (AP) — 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, since the start of the coronavirus pandemic. The...

California aims to lower fire insurance costs for homeowners

Sep. 07, 2022 20:48 PM EDT

SACRAMENTO, Calif. (AP) — California moved Wednesday to become the first state to lower insurance costs for property owners who make improvements to reduce their fire risk, the state's insurance commissioner said as wildfires again flared across the heat-stricken state. But the...

Editorial Roundup: Michigan

Sep. 05, 2022 10:54 AM EDT

Detroit News. August 31, 2022. Editorial: Whitmer acts to protect fuel supply; do same for Line 5 Good for Gov. Gretchen Whitmer for recognizing the connection between reliable supplies of energy and the financial well-being of her Michigan constituents. ...

Long-term victims of car crashes win key Michigan decision

Aug. 25, 2022 17:35 PM EDT

DETROIT (AP) — Major changes in Michigan car insurance law do not apply to people who were catastrophically injured before the summer of 2019, the state appeals court said Thursday, a victory for long-term victims of motor vehicle crashes and their care providers. In a 2-1 opinion,...

Editorial Roundup: Florida

Aug. 25, 2022 10:06 AM EDT

South Florida Sun Sentinel. August 23, 2022. Editorial: Florida’s judicial nominating commissions were a great idea. They could be again As he intended all along, Gov. Ron DeSantis once again appointed Renatha Francis to the Florida Supreme Court, which refused to...

State courts say no COVID-19 loss insurance for restaurants

Aug. 11, 2022 15:06 PM EDT

COLUMBIA, S.C. (AP) — The South Carolina Supreme Court said Wednesday that a sports bar chain could not recoup damages from its insurance policy over the COVID-19 pandemic and subsequent shutdown. The ruling in Sullivan Management, LLC v. Fireman’s Fund Insurance Company is the...

Firm downgrades 3 insurers in Florida, adding to concerns

Aug. 03, 2022 12:46 PM EDT

TALLAHASSEE, Fla. (AP) — A ratings agency has withdrawn ratings for two insurance companies and downgraded a third firm in Florida, raising concerns for homeowners who could end up paying more for insurance and further muddying a troubled market. Demotech, which rates 40...

Washington judge overturns insurance rate credit scoring ban

Jul. 29, 2022 17:23 PM EDT

OLYMPIA, Wash. (AP) — A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted the rule in February, immediately drawing a legal challenge...

Florida plans to backup insurance companies facing downgrade

Jul. 28, 2022 14:55 PM EDT

TALLAHASSEE, Fla. (AP) — Florida has taken action to back up property insurance companies facing a downgraded rating in an effort to help thousands of homeowners comply with mortgage requirements rather than being forced to seek new policies. The state-created Citizens Property...

Ukraine's grain is ready to go. But ships aren't. Why? Risk

Jul. 27, 2022 15:31 PM EDT

Shipping companies are not rushing to export millions of tons of grain trapped in Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea. That is because explosive mines are drifting in the waters, ship owners are assessing the risks and many still have questions over...