The California Department of Insurance has been under pressure to stabilize the market, introducing new rules that allow insurers to factor in future climate risks when setting rates. However, these regulations have yet to take full effect, leaving insurers frustrated with a system that, they argue, does not allow them to charge premiums that reflect actual risk.
Trade policy and economic uncertainty Since returning to office in January, President Donald Trump has introduced and modified tariffs on major trade partners, including China, Canada, and Mexico. A Wall Street Journal report on March 23 suggested the administration planned to narrow the scope of new tariffs set to take effect in April, opting for…
Industry groups, however, warned the bill threatens the fragile recovery of Florida’s insurance market. Katelyn Ferry, representing the Florida Justice Reform Institute, argued the proposal could reverse recent progress. “Make no mistake: If this bill passes, it’ll eradicate Florida’s insurance market,” Ferry said. She credited previous reforms with curbing premium hikes and attracting new insurers…
In parallel with the product launch, Westfield announced a $750,000 donation to the Center for Disaster Philanthropy (CDP) to support flood recovery and mitigation efforts. The contribution includes $500,000 for national recovery initiatives and $250,000 directed to CDP’s Atlantic Hurricane Season Fund, which addresses flood-related needs during hurricane season. Source link
The lawsuit claims Penn Mutual agents promoted “tax-advantage strategies” tied to life insurance and related products, which were ultimately “shams” with benefits described as “illusory and/or illegal.” Policyholders allegedly suffered financial losses through premium payments, loan interest, and other costs, while agents profited from commissions, bonuses, and fees. Source link
