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Traveling Down a Bumpy Road: Carrier Challenges and Opportunities

Traveling Down a Bumpy Road: Carrier Challenges and Opportunities

With rising inflation and interest rates, geopolitical tensions, climate change uncertainty, and growing competition, U.S. insurance carriers face several challenges to delivering consistent, high-quality insurance services and products to the marketplace.
October 3, 2023 Education & Training Insurance Industry Legislation & Regulation Risk Management Technology

California Governor Vetoes Self-Driving Truck Bill

California Governor Vetoes Self-Driving Truck Bill

California Gov. Gavin Newsom has vetoed a bill to require human drivers on board self-driving trucks, a measure that union leaders and truck drivers said would save hundreds of thousands of jobs in the state.
September 25, 2023 Legislation & Regulation California

How Proposition 103 Worsens Risk Crisis in California

How Proposition 103 Worsens Risk Crisis in California

California is not the only U.S. state struggling with insurance availability and affordability, but -- as described in a new Triple-I Issues Brief -- its problems are exacerbated by a three-decades-old legislative measure that severely constrains insurers' ability to profitably insure property in the state.
September 25, 2023 Insurance Industry Legislation & Regulation Underwriting California

California Insurance Commissioner Strikes Unwritten Agreement with Industry to Revive Home Insurance Coverage

California Insurance Commissioner Strikes Unwritten Agreement with Industry to Revive Home Insurance Coverage

After a summer that saw many of California's top home insurers pull back from the state market, Insurance Commissioner Ricardo Lara announced Thursday that he struck a deal with the insurance industry to encourage new coverage in the state.
September 22, 2023 Insurance Industry Legislation & Regulation California

Shutdown Threat Looms Over U.S. Flood Insurance

Shutdown Threat Looms Over U.S. Flood Insurance

Even as the 2023 Atlantic hurricane season proves to be more intense than originally predicted, federal funding for the National Flood Insurance Program (NFIP) is threatened by a potential government shutdown.
September 22, 2023 Legislation & Regulation Property

It’s Not an "Insurance Crisis" -- It’s a Risk Crisis

It’s Not an "Insurance Crisis" -- It’s a Risk Crisis

Ten states -- Louisiana, Florida, Idaho, Kentucky, Mississippi, Montana, North Dakota, South Carolina, Texas, and Virginia -- as well as additional plaintiffs, are suing the Federal Emergency Management Agency (FEMA) over its new methodology for pricing flood insurance, Risk Rating 2.0.
September 21, 2023 Legislation & Regulation Property Florida Idaho Kentucky Louisiana Mississippi

Lawsuit Challenges FEMA’s Role in Endangering Oregon’s Natural Habitats

Lawsuit Challenges FEMA’s Role in Endangering Oregon’s Natural Habitats

Conservation groups in Oregon are suing the Federal Emergency Management Agency over its flood-insurance program, which they say puts fish, orcas and people at risk.
September 20, 2023 Legislation & Regulation Litigation Property Oregon

More Layoffs Coming in Insurance Industry Without Reform

More Layoffs Coming in Insurance Industry Without Reform

San Francisco might not be the only California colossus in a so-called 'doom loop.' The property and casualty insurance market is experiencing a crisis of its own, and the consequences are dire for the entire state economy.
September 20, 2023 Legislation & Regulation Property California

Southern Louisiana Fights Against Massive Flood Insurance Rate Hikes

Southern Louisiana Fights Against Massive Flood Insurance Rate Hikes

Increases in federal flood insurance premiums that are projected to surpass 700% over the coming years are already leading people to back out of home purchases and will likely lead to an exodus of residents and businesses from southern Louisiana, officials told a federal judge Thursday in New Orleans.
September 18, 2023 Legislation & Regulation Litigation Property Louisiana

California’s Home Insurance Deal Deadline Passes

California’s Home Insurance Deal Deadline Passes

A rumored legislative deal aimed at keeping home insurance companies from bailing on California is dead now that the deadline for a bill has passed.
September 15, 2023 Insurance Industry Legislation & Regulation Property California

Congress Seeks Guidance from Tech Industry Titans on AI Regulation

Congress Seeks Guidance from Tech Industry Titans on AI Regulation

Nearly two dozen leaders of tech companies and other groups met Wednesday behind closed doors with U.S. senators as part of a broader discussion into how Congress can regulate artificial intelligence.
September 15, 2023 Legislation & Regulation Technology

Artificial Intelligence -- There’s Nothing Fake About It

Artificial Intelligence -- There’s Nothing Fake About It

Artificial Intelligence (AI) has become ubiquitous in today's corporate lexicon. And while much has been said, and written, about AI, the question still remains: what, exactly, is AI?
September 14, 2023 Insurance Industry Legislation & Regulation Technology

Pennsylvania Bill Proposes Insurer Disclosure of AI in Utilization Review

Pennsylvania Bill Proposes Insurer Disclosure of AI in Utilization Review

Pennsylvania lawmakers have filed legislation that would require insurers to disclose when artificial intelligence is used during the utilization review process.
September 13, 2023 Legislation & Regulation Workers' Compensation Pennsylvania

NAIC Seeks Granular Data From Insurers to Help Fill Local Protection Gaps

NAIC Seeks Granular Data From Insurers to Help Fill Local Protection Gaps

Data is at the core of risk management, and the National Association of Insurance Commissioners (NAIC) is seeking to identify gaps in the data state regulators collect from insurers -- particularly with respect to understanding insurance availability and affordability.
September 12, 2023 Legislation & Regulation Risk Management

Coalition of Advocates Sounds Alarm on California Wildfire Insurance Plan

Coalition of Advocates Sounds Alarm on California Wildfire Insurance Plan

A coalition of consumer, environmental, and economic justice organizations is sounding the alarm on what they describe as a secretive wildfire insurance deal that could lead to significant rate hikes in California.
September 11, 2023 Legislation & Regulation Property California
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