Axle announced a strategic collaboration with Experian on Feb. 3 to integrate real-time automotive insurance verification into Experian’s Fraud Protect platform. The integration aims to help automotive dealers and lenders detect fraud more effectively, support compliance, and accelerate vehicle transactions.

Axle operates as a universal API for insurance data, while Experian serves as a global data and technology provider. Through this collaboration, Axle’s insurance verification technology becomes part of Experian’s modular fraud-prevention workflow used by dealerships nationwide.

Adding Insurance Verification to Fraud Detection

Fraud Protect already enables dealers to validate customer identity, verify income, and confirm trade-in ownership. With the addition of Axle’s real-time insurance verification, dealers can now instantly confirm active insurance coverage during the transaction process.

The integrated solution verifies policy status, coverage limits, vehicle identification number matches, and lienholder details. Dealers access this information within a mobile-friendly workflow that connects directly to existing dealer systems.

By embedding insurance verification into Fraud Protect, dealers can ensure a customer maintains proper insurance coverage before a vehicle leaves the lot. The process occurs alongside other fraud and identity checks, allowing dealerships to review multiple risk indicators within a single workflow.

Addressing Rising Automotive Fraud

Experian research cited in the announcement highlights growing concern across the automotive sector. According to the research, 70 percent of dealers and 61 percent of lenders believe fraud is an increasing threat in the industry.

As fraud activity increases nationwide, the collaboration allows dealers to cross-check real-time insurance data alongside Experian’s analytics and identity intelligence. This combination helps identify first-party and third-party fraud, including synthetic identities, high-risk applicants, and misrepresented trade-ins.

The joint solution also aims to reduce exposure to chargebacks and buybacks by identifying potential issues earlier in the transaction process.

Executive Perspectives on the Collaboration

Robert Granados, president of Experian Automotive, said fraud is becoming more complex and increasingly targets digital retail workflows.

“Fraud is not just increasing, it is becoming more intelligent, exploiting digital retail workflows, identity gaps, and behavioral signals that legacy tools were never built to detect,” Granados said. He added that integrating Axle’s insurance verification into Fraud Protect allows dealers to assess additional identity and vehicle components while mitigating fraud risk and protecting their portfolios.

Armaan Sikand, co-founder and COO of Axle, emphasized the role of insurance data beyond compliance requirements.

“Our joint effort with Experian allows dealerships and lenders to use insurance data not just for compliance, but as a powerful fraud-prevention resource,” Sikand said. He noted that embedding Axle’s verification capabilities into Fraud Protect enables dealers to quickly confirm coverage while maintaining a seamless experience for buyers.

Technology and Workflow Integration

The collaboration focuses on maintaining a consumer-friendly experience while strengthening backend verification. Axle’s real-time insurance data integrates into Experian’s existing platform without requiring dealers to adopt separate tools or workflows.

Dealers can confirm insurance coverage through mobile interfaces that align with digital retail environments. The verification process supports both compliance checks and fraud detection without disrupting the transaction flow.

By consolidating identity, income, vehicle, and insurance verification, the integrated platform centralizes multiple risk signals in one system.

Company Backgrounds

Experian operates as a global data and technology company serving multiple industries, including financial services, healthcare, automotive, agrifinance, and insurance. The company provides data, analytics, and software to support fraud prevention, lending, digital marketing, and market insights. Experian employs more than 25,000 people across 33 countries and maintains its corporate headquarters in Dublin, Ireland. The company is listed on the London Stock Exchange as part of the FTSE 100 Index.

Axle positions itself as an AI-native universal API for insurance. Fortune 500 lenders, fleet managers, and franchise dealers use Axle’s APIs and AI agents to automate insurance verification, monitor coverage, and execute real-time policy changes. The company reports that its technology helps reduce operational costs while supporting streamlined insurance processes. Axle is backed by Gradient, Google’s early-stage AI fund, Y Combinator, and leaders from Plaid and Cox Automotive.

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A bill introduced this week in the California Legislature would authorize the state to pursue fossil fuel companies for insurance-related losses tied to climate-related disasters.

Senate Bill 982, titled the Affordable Insurance Recovery Act, would allow the California attorney general to file civil litigation against oil and gas companies to recover costs associated with climate-induced disasters. Those recoveries could apply to losses experienced by policyholders and by the state’s insurer of last resort, the California Fair Plan Association.

California home insurance premiums have increased at double-digit rates in recent years following a series of destructive wildfires across the state. The Eaton and Palisades fires that ignited on Jan. 7, 2025, alone are expected to generate up to $45 billion in insured losses.

At a press conference outside the state Capitol, Sen. Scott Wiener, D-San Francisco, the bill’s lead author, said the proposal is intended to address who bears the financial burden of climate-related disasters. Wiener stated that survivors, taxpayers, and policyholders have absorbed rising costs through higher insurance premiums, while fossil fuel companies have not contributed to those losses.

Under the bill, recovered funds could be used to compensate policyholders for rising premiums and related expenses, including investments to harden properties against fire damage.

The California Fair Plan Association also would be eligible for compensation. The Fair Plan, which provides coverage when homeowners cannot obtain insurance in the private market, is operated and backed by the state’s licensed home insurers. Its policy count has grown significantly as insurers have reduced exposure in wildfire-prone areas.

The Fair Plan expects to pay approximately $4 billion in claims related to the January 2025 wildfires. To meet those obligations, it assessed $1 billion against its member insurers. About half of that amount is being passed on to residential policyholders statewide through a surcharge. The Fair Plan is also seeking a 36% rate increase. A spokesperson for the association declined to comment on the legislation.

Sen. Ben Allen, D-Pacific Palisades, whose district includes areas affected by the Palisades fire, is a co-author of SB 982. Supporters of the bill include the Consumer Federation of California, California Environmental Voters, and the Eaton Fire Survivors Network, a community group based in Altadena.

Industry groups oppose the measure. Jim Stanley, a spokesperson for the Western States Petroleum Association, said the bill would raise gasoline prices and harm employment. He described the proposal as a political measure that would expose oil and gas companies to liability for natural disasters across the state, which he said would lead to extensive litigation.

The legislation follows earlier efforts in California to hold energy producers financially responsible for climate-related costs. In 2023, Attorney General Rob Bonta filed suit against Exxon Mobil, Shell, Chevron, ConocoPhillips, and BP. The lawsuit alleged that the companies engaged in a long-term campaign to mislead the public about climate change, resulting in tens of billions of dollars in state expenditures related to environmental damage.

Last year, California lawmakers also considered two bills known collectively as the Polluters Pay Climate Superfund Act. Those measures would have required large oil and gas companies operating in the state to contribute to a fund supporting climate adaptation efforts. While similar laws were enacted in New York and Vermont, California’s proposal stalled amid strong industry opposition.

California is not the only state considering legislation related to insurance costs and climate-related losses. In New York, lawmakers are evaluating a bill that would allow the state attorney general and property insurers to bring legal actions against parties deemed responsible for climate-related disasters. Hawaii lawmakers are also considering similar legislation following the 2023 Maui wildfires, which caused estimated losses of $3 billion or more.

SB 982 is now under legislative review.

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For years, marketers have treated brand-building and performance marketing as two separate strategies — one focused on long-term awareness, the other on short-term conversions. But in a January 2026 blog from Think with Google, Managing Director of Global Display, Video, and Creative Tony Effik reveals why that distinction no longer holds up on YouTube.

In “3 Breakthrough Brands That Prove Storytelling Performs on YouTube,” Effik highlights how brands are using storytelling not just to capture attention, but to drive measurable business outcomes across the entire customer journey. From creator partnerships to cultural relevance, these campaigns show that the right story — told in the right place — can do both.

Familiarity Builds Trust (and Sales)

One of the clearest examples comes from sun care brand Supergoop. Rather than chasing novelty, the brand leaned into repetition and consistency by partnering with YouTube creator Liza Koshy as its “Chief Super Officer.”

In the Think with Google blog, Effik explains that familiarity didn’t lead to fatigue — it led to trust. By delivering frequent placements that culminated in a hero spot ahead of peak sun season, Supergoop stayed top of mind without feeling intrusive. Viewers weren’t just entertained; they were reminded to act.

The results underscore the power of creator-led storytelling. Supergoop saw a significant lift in brand searches and improved conversion efficiency, proving that awareness-driven creative can directly influence purchase behavior when the audience trusts the messenger.

Brand Building Is a Performance Strategy

Effik also points to Olaplex as proof that long-term brand equity and short-term performance aren’t competing goals. As the brand prepared for a major rebrand, it shifted away from a purely performance-focused approach and adopted a YouTube-first storytelling strategy.

Its campaign, “Designed to Defy,” introduced a new visual identity and tagline while featuring well-known figures from fashion, entertainment, and sports. According to the Think with Google article, pairing Video reach campaigns with Demand Gen allowed Olaplex to meet consumers at multiple stages — building awareness while reigniting active interest.

The takeaway Effik emphasizes is simple but powerful: sustained growth comes from treating brand-building as a feature of performance, not a separate effort.

Cultural Relevance Can Drive Conversion

For Lucid, the challenge wasn’t just awareness — it was momentum. As a disruptor in the EV space preparing to launch its Gravity SUV, the brand needed to connect emotionally and commercially at the same time.

Effik notes that Lucid found its opportunity by placing cinematic brand storytelling alongside live NFL games and sports content, where emotional engagement is already high. By aligning its message with an audience primed for intensity and performance, Lucid turned cultural relevance into measurable demand.

The campaign delivered dramatic lifts in search interest and vehicle purchases, reinforcing the idea that a single, well-placed brand story can both shape perception and close deals.

What This Means for Marketers

As Effik concludes in the Think with Google blog, today’s customer journey is anything but linear. YouTube gives brands the ability to show up across mindsets — from passive viewing to active consideration — without fragmenting their strategy.

The brands highlighted all made different creative choices, but they shared one approach: optimizing storytelling for the platform, not forcing traditional marketing playbooks onto it. Whether that meant partnering with a trusted creator, increasing campaign cadence, or rethinking where brand films belong, each campaign treated storytelling as a growth lever — not a nice-to-have.

For marketers deciding how to reach their most receptive audiences, these examples offer a clear signal: when storytelling is intentional, platform-native, and strategically placed, it doesn’t just tell a story. It performs.

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Zurich Insurance has put forward a revised takeover proposal for UK specialty insurer Beazley, valuing the company at up to 1,335 pence per share. The proposed transaction would be worth approximately 8 billion pounds, or $10.97 billion, and follows several previously rejected bids.

Under the updated proposal, Zurich would offer 1,310 pence per share in cash, along with permitted dividends of up to 25 pence per share. Beazley confirmed that its board would be prepared to recommend the offer once Zurich submits a formal bid, provided this occurs by February 16 in accordance with UK takeover rules.

Beazley had earlier rejected multiple approaches from Zurich, citing undervaluation. These included an offer of 1,280 pence per share in January and a prior proposal of 1,315 pence per share in June. The improved terms appear to have addressed at least some of the board’s concerns, leading to its more receptive stance.

Following the announcement, Beazley’s shares rose as much as 9%, reaching a record high of 1,265 pence. Market reaction suggested optimism around the likelihood of the transaction proceeding. According to Mark Kelly, CEO of advisory firm MKI Global, the risks surrounding the deal appeared low, both in terms of potential competing bids and the likelihood of successful completion.

If completed, the acquisition would strengthen Zurich’s position in specialty insurance. Beazley operates in a range of specialty lines, including cyber, marine, aviation and space, and fine art insurance. The transaction would also expand Zurich’s footprint in the UK, a market that may offer strategic diversification as the insurer’s exposure to the United States and the impact of a weaker U.S. dollar have weighed on its performance and share price.

Zurich stated that it looks forward to beginning confirmatory due diligence and working with Beazley toward a binding offer announcement. The two companies issued a joint statement reflecting this intent.

The proposed takeover would represent another example of a foreign buyer pursuing a London-listed company, a trend that has continued amid relatively lower UK equity valuations. Zurich disclosed earlier this week that it had acquired a 1.47% stake in Beazley.

The situation remains subject to Zurich making a formal offer and completing due diligence, with further developments expected ahead of the February 16 deadline.

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DOXA has announced the expansion of its executive leadership team with Minas Kourouglos joining the company as Chief Corporate Development Officer. Kourouglos’ addition to the leadership team comes as DOXA strategically invests in its people and platforms, supporting its strong growth and continued momentum. As MGAs take increased share in the P&C industry— DOXA remains focused on strategic expansion through M&A and new product launches and continues to invest in leadership and operational capabilities to support this growth. “As DOXA advances its upward growth trajectory, part of our people-first approach is placing strong leaders in critical roles,” said Matt Sackett, CEO of DOXA. “Minas brings deep experience in corporate development, having guided hundreds of M&A transactions over the course of his career. His proven track record, leadership, and emphasis on relationships will strengthen how we identify and partner with specialty insurance businesses and further differentiate DOXA and our offerings.” In his role as Chief Corporate Development Officer, Kourouglos will work closely with executive leadership to expand acquisition capabilities, strengthen mergers and acquisitions (M&A) execution, and support DOXA’s long-term growth strategy. With more than a decade of experience leading M&A activity in the insurance industry at organizations such as Trucordia and Capital West Insurance, he is well-versed in scaling insurance platforms through disciplined, relationship-driven growth. Kourouglos says his successful 10-year track record in driving M&A strategy, execution and integration is driven by his emphasis on strong relationships and well-grounded fundamentals, or what he calls the insurance industry career essentials. Moreover, Kourouglos’ attention to detail and focus on getting to know the individuals behind the business closely align with DOXA’s growth strategy. “DOXA’s focus on specialty underwriting and building a long-term, sustainable community of specialty insurance businesses is what attracted me to the organization,” said Kourouglos. “I’m excited to work alongside this team to identify strong acquisitions, support their growth, and enable entrepreneurial teams to scale.” To learn more about DOXA and its leadership team, visit https://doxa.com/about/. ABOUT DOXA: DOXA is an award-winning specialty insurance platform that acquires and grows niche-market-focused insurance program administrators, underwriting and program distribution companies including MGAs, MGUs, brokers and direct-to-consumer operators. The company was built to create a community of excellence where MGAs and MGUs partner with each other, carriers, and agents to find exceptional solutions for diverse business risks. By combining deep vertical knowledge, operational agility and human integrity, DOXA creates collective excellence across the specialty insurance ecosystem to fuel the exceptional. For information visit www.DOXA.com. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com. 

Reliance Global Group, Inc. announced continued operating momentum within its RELI Exchange, LLC subsidiary, highlighted by a year-over-year increase in Personal Lines Property and Casualty written premium. The Company shared the update on February 2, 2026, citing internal, unaudited production data.

According to the announcement, Personal Lines P&C written premium generated through RELI Exchange increased from approximately $11.47 million in 2024 to approximately $15.6 million in 2025. As a result, this reflects a 36% year-over-year increase. The Company stated that this Personal Lines production represents a substantial majority of RELI Exchange’s total Personal Lines premium during the periods presented. Additionally, Reliance noted that these figures provide a meaningful indicator of year-over-year production trends based on internal, unaudited carrier-level production information.

This growth builds on the operating momentum previously reported within RELI Exchange. The Company emphasized that the increase underscores the platform’s ability to scale distribution and drive increased production across multiple insurance lines.

Reliance attributed the increase in Personal Lines written premium to the continued expansion and effectiveness of RELI Exchange’s agency partner network. Since acquiring RELI Exchange in 2022, the Company has expanded its network from approximately 65 to approximately 300 agency partners. Importantly, Reliance stated that this growth occurred organically through expanded distribution rather than acquisitions. As a result, the expanded network increased reach and supported higher premium volumes across Personal Lines P&C products.

RELI Exchange operates as a technology-enabled distribution platform for independent insurance agencies. The platform is designed to improve efficiency, expand market reach, and support scalable growth. The Company stated that the continued expansion of its agency partner network directly contributes to increased production, deeper carrier relationships, and growing premium volumes within RELI Exchange.

Ezra Beyman, chairman and chief executive officer of Reliance Global Group, commented on the results, stating that RELI Exchange continues to demonstrate its ability to scale distribution and convert that scale into premium growth. He noted that the 36% year-over-year increase reflects the strength of the expanding agency partner network and organic growth within the platform, driven by increased participation from independent agencies rather than acquisitions. He also stated that the Company continues to focus on growing and supporting its partners.

Beyond RELI Exchange, the Company highlighted its broader insurance operations, which it described as providing a stable foundation of revenue and cash flow. According to the announcement, this foundation supports Reliance’s strategic initiatives through EZRA International Group, a newer platform focused on pursuing controlling investments in high-growth, technology-driven businesses. Reliance stated that the scalability of RELI Exchange, supported by this foundation, positions the Company to pursue opportunities through EZRA.

The Company also included disclosures related to its operating metrics. The written premium figures referenced in the announcement derive from internal, unaudited carrier-level production reports and reflect gross written premium submitted through the RELI Exchange platform for the periods indicated. Reliance clarified that the written premium serves as an operating metric and does not represent revenue or income as determined under U.S. generally accepted accounting principles.

Additionally, the Company stated that written premiums do not appear on its financial statements and do not measure revenue, income, or cash flows under GAAP. Reliance noted that it does not recognize written premiums as revenue and does not derive economic benefit from the full amount of written premiums reported. The Company also disclosed that these unaudited figures may be adjusted due to policy cancellations, endorsements, and carrier reporting practices, and may not be comparable to similarly titled measures used by other companies.

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Amanda Crawford steps into the role of Texas insurance commissioner on February 3.

As chief executive of the Texas Department of Insurance (TDI), Crawford will oversee the regulation of the $293.9 billion Texas insurance market, the second-largest in the nation and the fifth-largest in the world. The agency regulates 3,447 companies and more than 983,411 agents and adjusters.“I’m honored to serve as the next commissioner of insurance,” said Crawford. “TDI has a strong foundation, and I look forward to building on that work while strengthening our insurance markets and keeping Texas consumers at the center of every decision.”Crawford began her career more than 24 years ago at the Office of the Attorney General, where she held various roles, including serving as general counsel and deputy attorney general for administration. Most recently, she served as the executive director of the Texas Department of Information Resources and as the state of Texas's chief information officer. Crawford graduated from The University of Texas at Austin and earned her law degree from the University of Houston Law Center. Gov. Greg Abbott appointed Crawford to replace Cassie Brown, who retired on February 2 after four years as insurance commissioner and more than 20 years of public service.

New legislation introduced in California would make significant changes to the state’s FAIR Plan, as regulators and lawmakers seek to address operational and governance concerns identified by the California Department of Insurance.

On Feb. 2, California Insurance Commissioner Ricardo Lara and Assemblymember Lisa Calderon announced the Make It FAIR Act, also known as AB 1680. The bill proposes a series of reforms intended to improve customer service, claims handling, and transparency within the California FAIR Plan.

“Californians need a reliable and dependable source of insurance in good times and bad times,” Calderon said in a statement. “The California FAIR Plan is our property insurance safety net, and we need this association to work for all Californians.”

Bill Would Require Operational, Financial, And Transparency Reforms

If enacted, the legislation would require the FAIR Plan to introduce a more comprehensive homeowners policy. Currently, policyholders must purchase an additional policy to obtain coverage for water damage, liability when someone is injured on their property, and other protections that are typically standard in the admitted market.

The bill would also require the FAIR Plan to create a formal capital and liquidity management plan. Lawmakers said the measure would increase protection against major wildfires and storms. In addition, the FAIR Plan would need to adopt a climate risk assessment using standards established by the National Association of Insurance Commissioners.

Staffing and planning requirements are also included. The legislation would require the FAIR Plan to hire additional staff to address claims and complaints more quickly and to adopt a strategic plan covering a three to five-year period.

Governance changes would expand public access to the FAIR Plan’s governing process. Under the bill, meetings and documents from the governing committee and its subcommittees would be made publicly accessible. The FAIR Plan would also be required to publish an annual report that includes governance updates, premium rate information, catastrophe response plans, and other operational details.

In addition, the bill would require the FAIR Plan to expedite policyholders' return to the admitted market by using clearinghouse programs created by the state legislature.

Regulators Cite Department Of Insurance Examination Findings

Supporters of the legislation said the proposed reforms are drawn from a recent Report of Examination issued by the California Department of Insurance. According to the department, the report identified systemic problems within the FAIR Plan’s operations and governance.

Those issues, the report found, contributed to delays, denials, and inconsistent claims decisions. Regulators noted that these challenges particularly affected policyholders impacted by the 2025 Los Angeles wildfires.

The Department of Insurance has taken formal legal action against the FAIR Plan over smoke damage claim denials. Hearings in that case are scheduled for later this year.

“Since my first year in office, I’ve pushed the FAIR Plan to modernize, expand coverage, meet basic customer service standards, and treat policyholders fairly, yet its governing board has resisted key reforms and continues to fight others in court,” Lara said in a statement. “The Southern California wildfires and the smoke damage crisis didn’t create these failures; they exposed them.”

Industry Group Raises Concerns About Market Impact

Not all industry stakeholders support the proposed reforms. The American Property Casualty Insurance Association has said it opposes the legislation.

“This legislation is a lose-lose for Californians,” said Nicole Ganley, APCIA assistant vice president for public affairs, in a statement. “Mandates like these are the root cause of California’s insurance crisis. Expanding coverage without sustainable pricing and adequate reserves ultimately reduces consumer choice and strains the entire market.”

Ganley said California should instead focus on sustainable reforms for the state’s insurance market. She also emphasized the original purpose of the FAIR Plan.

“The FAIR Plan was designed to serve as an insurer of last resort, not to replace a healthy private market or take on risks it was never built to support,” she said.

A new insurance provision for the 2026 World Baseball Classic has limited player participation across several national teams, making contract insurability central to tournament preparation.

Under the updated provision, player contracts cannot be insured after a player turns 37. Insurance coverage is required to protect major league teams from financial risk if a player is injured during the tournament. Although player contracts remain fully guaranteed, insurance shifts that financial exposure away from clubs.

Los Angeles Dodgers infielder Miguel Rojas became one of the most visible examples of how the provision affects roster decisions. Rojas, who turns 37 on Feb. 24, was denied insurance coverage and therefore could not receive approval to play for Venezuela. Rojas said the timing and structure of the rule prevented him from remaining available, even as a reserve option, during what he expects to be his final season.

Insurance approval has increasingly influenced roster construction ahead of the tournament. Several high-profile players have also been denied participation because their contracts were not insured. Those players include Venezuela’s Jose Altuve and Puerto Rico’s Francisco Lindor. Puerto Rico is also expected to be without Carlos Correa, Victor Caratini, Emilio Pagan, Jose Berrios, and Alexis Diaz.

As a result, Dr. Jose Quiles, president of the Puerto Rico Baseball Federation, publicly considered withdrawing Puerto Rico from the tournament. Puerto Rico is scheduled to host Pool A from March 6 to March 11 at Hiram Bithorn Stadium in San Juan.

Insurance for the World Baseball Classic is arranged by NFP, which has insured multiple iterations of the tournament through agreements with Major League Baseball and the MLB Players Association. The tournament itself pays the insurance policy. In prior tournaments, insurance coverage has directly affected club obligations. In 2023, for example, the New York Mets did not have to pay Edwin Diaz after he suffered a season-ending knee injury while representing Puerto Rico.

Players face varying levels of insurability based on injury classifications. According to sources familiar with the process, players are labeled as chronic, intermediate, or low risk. A player may be classified as chronic if they spent at least 60 days on the injured list the previous season, missed two of their team’s final three games due to injury, underwent surgery after the season, had more than one surgery during their career, or landed on the injured list on the final day of August.

Contract size also influences insurability. Despite Rojas being on a one-year, $5.5 million contract and not spending time on the injured list last season, his age alone disqualified his contract from coverage. The new provision states that once a player turns 37, their contract cannot be insured. If a player turns 37 midseason, coverage only applies through June.

Teams may still allow players to participate without insurance by assuming the risk themselves. The Detroit Tigers previously took that approach with Miguel Cabrera. It remains unclear whether the Dodgers will do the same for Rojas. With World Baseball Classic rosters due Tuesday and announcements scheduled for Thursday night, decisions must be made on a tight timeline.

Rojas said he received a HIPAA authorization form that would have allowed NFP to further review his medical history, but he received the request too late to pursue alternate solutions.

As preparations continue, insurance requirements remain a determining factor for player availability, shaping national rosters and influencing participation across the tournament.

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Florida Insurance Commissioner Mike Yaworsky has approved additional auto insurance rate cuts heading into 2026. USAA filed an average 7% decrease in auto insurance rates, which will take effect by May 2026. The reduction is expected to generate more than $125 million in estimated annual savings for USAA’s Florida members.

The Florida Office of Insurance Regulation (OIR) continues to approve auto insurance rate cuts across the state. Over the past year, 42 personal auto insurance companies have filed for rate decreases. Of those, 32 filings occurred within the last six months.

“Going into the new year, the Office of Insurance Regulation is not slowing down on approving rate decreases or 0% increases from insurance companies,” said Commissioner Mike Yaworsky. “USAA is just one of many auto insurance companies that OIR is having productive conversations with to ensure reductions for policyholders. We are thrilled with the progress in the home and auto insurance market since the critical legislative reforms were passed. It is very clear that tort reform was the right thing to do, and we will continue to build on this success.”

USAA leadership emphasized the impact of the rate decrease for military members and their families.

“Every dollar counts for our active-duty service members, veterans, and their families — now more than ever,” said Randy Termeer, USAA P&C President. “This rate decrease reflects improving conditions in Florida’s insurance market and our ability to price competitively while maintaining the financial strength to support our members when they need us. Florida leaders have done great work to strengthen the insurance system and support a more stable, competitive market for Floridians.”

USAA attributes the rate decrease to Florida’s legislative reforms, which have helped stabilize the insurance market.

Earlier this month, Commissioner Yaworsky joined Governor Ron DeSantis to announce broader rate relief for Florida’s auto and home insurance markets. That announcement highlighted several recent auto insurance rate decreases, including:

• Florida Farm Bureau: Average decrease of 8.7%
• Progressive: Average decrease of 8%, in addition to refunding policyholders more than $1 billion
• State Farm: Average decrease of 10.1%. This marks State Farm’s third rate reduction since 2024, totaling more than 20% and exceeding $1 billion in statewide savings
• AAA: Three separate rate reductions during the year, lowering premiums by 15%. A fourth round of reductions will take effect in early 2026
• Allstate: Average decrease of 4% for 13.1 thousand drivers

Florida’s auto insurance market continues to show strong stability following tort reform. In 2024, Florida ranked first in the nation for the lowest personal auto liability loss ratio at 53.3%. This was the lowest recorded level for the state in the past 15 years.

Florida personal auto insurers also recorded the nation’s fifth-lowest incurred loss ratio at 57.5% in 2024. This represents a significant improvement from 73.2% in 2023 and 89.7% in 2022. Auto physical damage loss ratios also declined, falling from 112.0% in 2022 and 70.3% in 2023 to 66.7% in 2024.

The home insurance market in Florida is also stabilizing. Since the legislative reforms, 17 new insurance companies have entered the marketplace. OIR has received more than 185 residential filing requests for rate decreases or 0% increases.

Since January 2024, 39 companies have filed for home insurance rate decreases, while 48 companies have requested no change or a 0% increase. The 30-day average request for homeowners insurance rates is now a 2.3% decrease, compared to a 0.5% increase one year ago. The 180-day average request is down 0.7%, compared with a 7.9% increase one year ago.

About the OIR The Florida Office of Insurance Regulation (OIR) has primary responsibility for regulating, enforcing, and monitoring statutes related to the business of insurance and industry markets. For more information about OIR, please visit our website or follow us on X @FLOIR_comm. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com.