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The order tasks the insurance commissioner with improving the rate approval process, a long-time sticking point with carriers in the state.
Growing catastrophe losses combined with rate inadequacy are masking the true risks facing nearly 40 million properties.
Previous regulations required that risk retention groups be domiciled in New York State in order to write policies for not-for-profits.
The first round will award 500 grants to Citizens homeowner policyholders.
The state at the top of the list sees auto insurance rates that are 66% higher than the national average.
Auto insurers are spending more on claims and other costs than all the dollars that they collected in premiums in 2022, J.D. Power reports.
The U.S. home insurance premium is 35% higher today, on average, than it was two years ago, according to Policygenius.
More than 40% of policyholders think education level shouldn't be considered when setting personal auto rates.
More than 8% of Louisianans were displaced by a natural disaster last year, compared to a nationwide average of 1.6%.
The Chinese market saw 4.5M EVs sold through the first half of this year, nearly six times more than the U.S. market's total.
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