Tag: Insurance Regulation

Florida Insurance Reforms Drive Rate Decreases and Market Stability

Florida's 2023 insurance reforms, including HB 837, have led to auto and property insurance rate decreases, increased market competition, and reduced litigation impacts, stabilizing the insurance marketplace.

Congress GOP Members Urge FHFA to Reconsider Homeowners Insurance Rules

Congress members led by Rep. McDowell ask FHFA to reconsider homeowners insurance mandates limiting Actual Cash Value policies to improve affordability and flexibility in federally backed mortgages.

Illinois House Rejects Homeowners Insurance Rate Regulation Bill

Illinois House rejects bill to empower Department of Insurance to regulate homeowners insurance rates amidst rising premiums and regulatory debates.

North Carolina Requests 68% Increase in Dwelling Insurance Rates Over Two Years

North Carolina insurers seek a 68.3% average rise in dwelling insurance premiums across two years to address rising storm damage claims and construction cost inflation. Regulatory review underway.

California's Fire Insurance Rules Face Challenges Despite Regulatory Overhaul

California's 2023 insurance reforms aimed to secure homeowners in fire-prone areas but reveal loopholes allowing rate hikes without broad coverage. FAIR plan reliance doubles amid escalating policy nonrenewals.

NAIC CEO Gary Anderson Steps Down; Jeff Johnston Named Interim Leader

NAIC CEO Gary Anderson resigns effective Oct 29. Jeff Johnston named interim CEO as NAIC plans budget growth and regulatory modernization, including AI and risk-based capital updates.

Illinois House Rejects Bill to Regulate Homeowners Insurance Rates

Illinois lawmakers reject a bill granting the Department of Insurance authority to regulate homeowners insurance rates amid industry concerns and State Farm's significant rate increases.

Medigap Plans F, G, and N: Key Insights for U.S. Insurance Professionals

Explore essential insights into Medigap Plans F, G, and N, focusing on coverage, enrollment periods, and regulatory nuances critical for U.S. insurance professionals advising Medicare beneficiaries.

California Insurance Diversity Drives $6.7B Economic Impact and Job Growth

California's insurance sector achieved $6.7 billion economic output and 29,000+ jobs through enhanced supplier diversity, reveals new report by California Department of Insurance.

Judge Denies Humana's Challenge to CMS 2025 Medicare Advantage Ratings

A U.S. court rejected Humana's attempt to contest the CMS 2025 Medicare Advantage ratings, affecting Humana's bonus payments and highlighting CMS's regulatory role.