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Chatbot Bills Near Passage in CA A pair of bills aimed at protecting minors from harm by chatbots are nearing passage in California. Of the two, tech groups favor SB 243 , which would allow citizens...
NM Gov Calls Special Session to Bolster Safety Net New Mexico Gov. Michelle Lujan Grisham (D) announced a special session in October to bolster safety net programs in response to the federal spending...
Political “debanking,” the practice of banks restricting or closing customers’ accounts for political or religious reasons, has once again become a hot topic , thanks to President Donald...
CO Lawmakers Tweak Last Year’s First-In-Nation AI Law In a special session that began last week, Colorado Senate Majority Leader Robert Rodriguez (D) introduced legislation ( SB 4 a ) that would...
States Seek Ways to Replace Expiring Federal Health Subsidies Policymakers in California, Colorado, Maryland and other states are considering ways to backfill pandemic-era federal health insurance subsidies...
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Recent turmoil in the insurance industry related to climate change has largely been concentrated in states like California, Florida and Louisiana. But the problem appears to be spreading to other states, including Arkansas, Ohio and Utah.
Last year insurers in 18 states lost money on homeowners coverage, according to analysis by The New York Times. That number is up 50% from the 12 states where homeowners insurance was unprofitable in 2018 and 125% from the 8 states that fell into that category in 2013. Consequently, insurers are raising premiums, reducing coverage or pulling out of states entirely. (NEW YORK TIMES)
Farmers Insurance said it will resume writing commercial multi-peril policies for several industry sectors in California, including auto service & repair, manufacturing, real estate and wholesale distribution, beginning on Aug. 1.
In a statement the insurer’s president of Business Insurance, Eric Coleman, said: “Farmers has operated in California for nearly a century, and while challenges remain, we are encouraged by the positive changes taking place in the state’s commercial insurance marketplace.”
Those positive changes include increased willingness among state officials to discuss ways of expediting rate filings and allowing insurers to use catastrophe modeling in setting rates.
The news from Farmers comes shortly after it announced it would lift a temporary moratorium on writing new commercial auto insurance policies in California. Last May the company decided to stop writing new property/casualty insurance polices in the state due to inflation and the increased risk of wildfires. (INSURANCE JOURNAL)
—Compiled by SNCJ Managing Editor KOREY CLARK
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