News

Average U.S. automobile premium rates dropped by close to 3 percent in 2007 from the previous year with drivers in Washington, D.C. paying the most for their insurance, state regulators reported.

Four trade groups representing large insurers have sent a letter to the House Financial Services Committee opposing changes to legislation creating a Federal Insurance Office.

Insurance industry trade groups, in advance of a hearing by the New York Assembly Standing Committee on Insurance, complained that assessments on carriers are unfair and being inappropriately allocated.

After a year-long investigation in San Diego, Calif., detectives have made eight arrests and dismantled a staged auto collision ring.

Legislation giving the government broad authority to deal with troubled financial institutions, including insurers, passed the House Financial Services Committee.

An effort to put a proposition on the Michigan ballot to change auto insurance regulation is drawing radically different reactions from interest groups.