Senate seeks to curb FIO oversight

[ad_1] Pre-tax catastrophe and weather-related losses, net of reinsurance, totalled US$49 million, or 3.7 points on the combined ratio. Of that, US$32 million, or 2.4 points, was attributed to the California wildfires. The remaining losses were related to other weather-related events. After-tax, catastrophe and weather-related losses totalled US$38 million. [ad_2] Source link

[ad_1] Proponents argue that the bill is necessary to protect older drivers from unfair rate increases, particularly as Louisiana grapples with high auto insurance premiums. According to the report, the bill has faced opposition from the insurance industry, with the American Property Casualty Insurance Association (APCIA) asserting that it unnecessarily duplicates existing regulations. [ad_2] Source…

[ad_1] The move is the latest in a string of acquisitions by CRC Group as it continues to scale its specialty distribution platform. In December 2024, CRC snapped up SLB Insurance Group to bolster its binding authority operations in the Southeast — particularly South Florida, where SLB had a strong presence in high-volume property business….

[ad_1] However, reinsurance can also be a driving force behind premium increases and market restrictions. When reinsurers experience heavy losses from natural disasters, economic downturns, or global events, they adjust their rates and underwriting requirements to compensate. These increased costs trickle down to primary insurers, who, in turn, raise their rates to offset the higher…

[ad_1] “In the US, there are state level privacy laws,” he said. “There’s also been a federal refocusing on data security as a national security matter, as highlighted by the Department of Data Security Program that went into effect in April 2025. This means there’s been an increased scrutiny of AI technologies and, on top…

[ad_1] It may impact home insurance pricing and coverage availability [ad_2] Source link