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Nevada bill expands definition of casualty insurance to include legal expense coverage
[ad_1] Currently, Nevada law classifies casualty insurance as coverage for vehicle insurance, liability insurance, workers’ compensation, and other forms of financial protection. A.B. 512 proposes adding legal expense insurance to this category, defining it as coverage that reimburses policyholders for specific legal services or legal expenses. However, it excludes fees paid to attorneys for overhead…
Allstate reports April catastrophe losses led by wind and hail events
[ad_1] In a monthly update, Allstate noted slight shifts across its insurance portfolio. Allstate Protection auto policies declined marginally in April, while commercial lines dropped by 31.6%. In contrast, homeowners policies increased by 2.5%, contributing to a 0.3% rise in total policies in force to 37,812. [ad_2] Source link
NAIC says new RBC task force to convene at spring meeting
[ad_1] The ACLI has supported a transparent, data-driven approach to RBC processes, Haughawout said, adding that the task force is well-positioned to advance this effort. She also noted that the task force’s first organization call had more than 300 participants, reflecting significant interest in its work. [ad_2] Source link
Progressive Insurance expands truck cargo coverage in 42 states
[ad_1] Eligible states for the new endorsement include Texas, Illinois, Florida, New Jersey, and 38 others. Progressive expects Cargo Plus to reach 49 states by May 21, 2025, and achieve full nationwide availability by the end of the year, pending regulatory approval. [ad_2] Source link
Indiana court rules in favor of State Farm in uninsured motorist case
[ad_1] The ruling, issued April 28, 2025, by the Indiana Court of Appeals, stems from a 2018 car accident in Bartholomew County. Lee Naylor, the injured party, was insured by Shelter under a policy that included underinsured motorist (UIM) coverage with a $100,000 per-person limit. The other driver, Mary Siener, was covered by State Farm,…
Oregon Supreme Court overturns $26.3 million class-action ruling against Farmers Insurance Co. of Or
[ad_1] The Supreme Court ruled, however, that Farmers met its legal obligations by using notice language approved by the state’s Department of Consumer and Business Services (DCBS). The court said insurers that adopt agency-approved wording are not liable for omitting portions of the statute, affirming that the legislature intended for such approval to serve as…