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Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
Prior to an increase in 2022, limits for these policies hadn't been changed for more than two decades, according to the California Department of Insurance.
The NHTSA reported that people not directly involved in crashes pay roughly three-quarters of all crash costs.
Both cases involve YouTube channels, where the alleged fraudsters aired videos of the accidents and other incidents.
The agent, who pled guilty to the charges in 2021, kept more than $4.8 million in premium payments for his personal use.
The state's department of insurance reports that nine companies applied for more than $60 million in funding from the program.
Commercial properties with poor loss histories and those located in CAT-prone areas could see rates grow as much as 150%, according to Alera Group.
The proposed change was sparked by a statewide double-digit rate increase by Allstate in 2022.
The combined reconstruction value of the structures at risk totals more than $2 billion, according to CoreLogic.
Slightly more than 70% of workers surveyed said their employer doesn't follow through on safety promises.
Previous estimates were largely based on claims data, but Carfax dove into service records to glean the true scope of the problem.