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Glowing Progress Report on FL Insurance Market from Gallagher Re The insurance industry reforms enacted in Florida in 2022 and 2023 in response to soaring homeowners’ premiums and carrier insolvencies...
CA Enacts AI Safety Law California Gov. Gavin Newsom (D) signed an artificial intelligence safety measure ( SB 53 ), exactly one year after vetoing a similar but broader bill (SB 1047 [2024]). The new...
CA Enacts Bill Allowing Rideshare Drivers to Unionize California Gov. Gavin Newsom (D) signed a bill ( AB 1340 ) allowing drivers for ride-hailing companies to unionize and bargain collectively for better...
An international real estate investment firm wants to build a massive data center in north Delaware. The proposed campus would cover 6 million square feet across 11 structures , potentially creating what...
AI Industry Spending Big to Block State Regulations The AI industry has launched three super PACs in recent weeks that could spend over $100 million largely on statewide races next year. The industry...
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The insurance industry reforms enacted in Florida in 2022 and 2023 in response to soaring homeowners’ premiums and carrier insolvencies have improved market conditions in the state, according to a report from reinsurance broker Gallagher Re. The number of claims lawsuits against carriers has significantly dropped, insurers’ loss ratios and profitability have improved and the exodus of carriers from the state has reversed, the report said. The 2022 and 2023 reforms included the elimination of one-way attorney fees, a prohibition against assignment-of-benefits agreements in new policies and the tightening of rules for bringing bad-faith claims. (INSURANCE JOURNAL)
—Compiled by SNCJ Managing Editor KOREY CLARK
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