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States Target School Cell Phone Use At least four states have banned or severely restricted the use of smart phones in schools in the current legislative biennium. Florida became the first state to do...
Compounded Weight-Loss Drugs Creating Headaches for State Regulators With popular weight-loss drugs like Mounjaro, Ozempic and Wegovy in short supply, many doctors, pharmacies and other providers have...
In their seminal book on the American health care system, legendary investigative reporters Donald L. Barlett and James B. Steele offered a disturbing metaphor for the illogical nature of medical pricing...
PA Lawmakers Pass Bill Regulating PBMs The Pennsylvania legislature passed a bill ( HB 1993 ) aimed at increasing oversight of pharmacy benefit managers. If signed by Gov. Josh Shapiro (D), the measure...
In a sign of the times, states have begun pursuing bills that require disclosure of the use of artificial intelligence. In March, Utah Gov. Spencer Cox (R) signed SB 149 , making the state the first...
Nationwide announced last week that it would begin taking actions “to mitigate risk and manage the personal and commercial lines portfolios in the current environment.”
“Strong headwinds brought on by the economic environment, catastrophe weather events, and the impact of inflation continue to impact the entire insurance industry,” the insurer said in a statement. It didn’t specify which lines of business or areas of the country would be impacted by its risk mitigation efforts.
AIG, Allstate, Farmers and State Farm have all recently made moves to limit their risk in states like California, Florida and Louisiana. (INSURANCE JOURNAL)
U.S. cyber insurance premiums shot up 50 percent in 2022, and they’ve tripled in the past three years, according to a study by AM Best. The ratings firm said increasing ransomware attacks and e-commerce have driven demand for coverage. (BLOOMBERG)
Florida Gov. Ron DeSantis (R) signed one of the last property insurance-related bills passed during the state’s 2023 regular legislative session. Among other things, the measure (SB 418) will let insurers offer higher hurricane deductibles for some homeowners and use multiple computer models instead of just one when filing rate increases. (INSURANCE JOURNAL, STATE NET)
Rhode Island’s House passed a bill (HB 5160) capping payday loans at an annual percentage rate of 260 percent. As of last week Senate leadership hadn’t commented on whether it supported the legislation. (PROVIDENCE JOURNAL)
Adoption of usage-based insurance, in which the cost of a policy is determined by the policyholder’s driving habits tracked via telematics, has more than doubled since 2016, with 17 percent of auto insurance customers now participating in such a program, according to J.D. Power’s 2023 U.S. Auto Insurance Study. The study said lower customer satisfaction with standard auto insurance has helped drive that UBI growth. (INSURANCE JOURNAL)
—Compiled by SNCJ Managing Editor KOREY CLARK
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