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Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
The order tasks the insurance commissioner with improving the rate approval process, a long-time sticking point with carriers in the state.
Review five ways businesses can actively address growing cyber risks.
Growing catastrophe losses combined with rate inadequacy are masking the true risks facing nearly 40 million properties.
When it comes to digital threats, cyberattacks are by far the risk that mid-market executives are most concerned with.
The one-year moratorium will impact more than 15,000 policyholders in Del Norte and Siskiyou counties.
Previous regulations required that risk retention groups be domiciled in New York State in order to write policies for not-for-profits.
The first half of 2023 saw above-average natural catastrophe losses, while secondary perils added further pressure.
The weekly minimum benefits will increase from $150 to $275 in 2024 and $325 in 2025. By 2026, the minimum will equal one-fifth of the state's average weekly wage.
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.