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Colorado Regulator Recovers $26.5 Million Following Cross-Sector Claim Reviews
The Colorado Division of Insurance recouped $26.5 million for policyholders as a result of claim-handling complaints and subsequent reviews conducted during the 2023-2024 fiscal ...
Source: BestWire   Date: December 5, 2024
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For Some Insolvent Insurance Carriers, ‘Giving Away the Pen’ to MGAs May Have Contributed to Their Undoing
https://bestsreview.ambest.com/edition/2024/december/index.html#page=48
Source: Best's Review   Date: December 1, 2024
Texas Regulator: TWIA’s 10% Rate Increase Proposal ‘Unjust’ and ‘Unfair’ to Coastal Property Owners
https://bestsreview.ambest.com/edition/2024/december/index.html#page=62
Source: Best's Review   Date: December 1, 2024
US Hail/Wind/Hurricane Approved Rate Filings by Overall Effect With Increases of 8% or Greater
https://bestsreview.ambest.com/edition/2024/december/index.html#page=63
Source: Best's Review   Date: December 1, 2024
New Jersey Acting Commissioner Sworn In as Permanent Regulator
New Jersey Senate on Oct. 28. Zimmerman has served as acting commissioner since June 2023, according to a statement from the insurance department. He stepped into the acting ...
Source: BestWire   Date: November 8, 2024
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South Carolina Seeks to Fill Director of Captives Insurance Position
Captives Joe McDonald took a position in the private sector. Chief Financial Analyst Ryan Basnett is the primary point of contact for captives in the interim, Wise said. South ...
Source: BestWire   Date: October 24, 2024
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Florida's OIR Reports $2.34 Billion in Milton Losses, $1.33 Billion for Helene
Extreme Event Solutions group said in a statement. The majority of the insured loss is attributable to wind. Also included in the industry insured loss estimate are losses to ...
Source: BestWire   Date: October 17, 2024
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Virginia Regulators Clear Funeral Directors Life to Sell Preneed Insurance
Funeral Directors Life Insurance Co. said it has received approval to sell preneed life insurance in Virginia. The latest approval comes after it was cleared earlier this year to ...
Source: BestWire   Date: October 15, 2024
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Montana Commissioner Grants First ‘Sandbox Waiver' to Workers' Comp Program
The program will start Jan. 1, 2025 and is approved for an initial three year period. The program's approval is contingent Montana State Fund providing the regulator with a written ...
Source: BestWire   Date: October 11, 2024
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North Carolina Rate Bureau, Regulator Miles Apart on 42% Home Insurance Rate Request
Carolina home insurers have not had a rate increase since 2020. That approval, the NCRB said, was only for a small part of the requested increase and was contingent on the board ...
Source: BestWire   Date: October 8, 2024
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P/C Coalition Seeks Changes to Adjusters Licensing After Canadian Catastrophes
Organization and the Canadian Council of Insurance Regulators. "There is simply no reasonable public policy rationale justifying this type of fragmented approach to licensing," ...
Source: BestWire   Date: September 13, 2024
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Great-West Lifeco Warns Investors on Unsolicited Share Offer
Exchange on July 29, 2024, the last trading day before the offer began. The common shares do not trade on a recognized stock exchange in Ireland, Great-West said. "Lifeco does not ...
Source: BestWire   Date: August 12, 2024
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Hawaii Governor Signs Emergency Proclamation to Stabilize Condo Insurance Market
These challenges were laid bare during the Maui wildfires. Claim payments related to the fire surpassed $2.34 billion in July (BestWire, July 30, 2024). According to the ...
Source: BestWire   Date: August 9, 2024
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Maryland Stiffening Penalties for Insurance Professionals Caught Violating Statutes
Maryland Insurance Administration. It is also illegal to act as a producer for an unauthorized insurer. Public adjusters found to be making material misstatements on license ...
Source: BestWire   Date: August 9, 2024
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Michigan Regulator Details Expectations, Responsibilities for Insurers' AI Use
Director Anita Fox wrote. "The use of AI is transforming the way work is done in many industries, including insurance, but it is important that every decision made by insurers ...
Source: BestWire   Date: August 8, 2024
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Courting Captives: Domiciles Seek To Win New Business
https://bestsreview.ambest.com/edition/2024/august/index.html#page=24
Source: Best's Review   Date: August 1, 2024
Leading AI Platforms Respond to Questions About Captive Insurance Domiciles
https://bestsreview.ambest.com/edition/2024/august/index.html#page=82
Source: Best's Review   Date: August 1, 2024
Maryland Governor Appoints New Insurance Commissioner
Wes Moore and will assume the role on Oct. 1, pending legislative approval, according to a statement from the governor's office. Grant is succeeding Joy Hatchette, who was ...
Source: BestWire   Date: July 29, 2024
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AM Best: Migration to Cat-Prone Areas Adds to Insurers' Performance Volatility
View the video version of this interview here. Following is an edited transcript of the interview. With the U.S. homeowner's insurance segment experiencing its worst underwriting ...
Source: BestWire   Date: July 26, 2024
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Delaware Regulator Establishes Long-Term Care Insurance Unit
Insurance and staffed by department employees. Earlier in July, more than 25 insurance department staffers finished a half-day training program on long-term care insurance ...
Source: BestWire   Date: July 23, 2024
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