Hurricanes Laura and Ida has resulted in over $20 billion in insurance losses, Louisiana insurance commissioner Jim Donelon said. Speaking with Jan Swift on the Discover Lafayette podcast, Donelon said some insurers in Louisiana have gone bust as a result. Fortunately, the Louisiana Insurance Guaranty Association is in place to protect property and casualty policyholders… Continue reading Total Insured Losses from Hurricanes Laura, Ida at More than $20 Billion
Tag: insurance commissioner
Insurer Groups Sue Over Washington State Credit Scoring Ban
The adoption last week by Washington state Insurance Commissioner Mike Kreidler of a rule prohibiting insurers from using credit scoring to set rates for auto, homeowner, and renter insurance has already sparked a legal challenge from insurer groups. The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents… Continue reading Insurer Groups Sue Over Washington State Credit Scoring Ban
CA Commissioner Lara ‘Deeply Sorry’ for Taking Donations from Insurance Industry He Regulates
California’s insurance commissioner Ricardo Lara apologized Tuesday for accepting campaign contributions from the insurance industry and announced reforms for his office and campaign. Lara, a Democrat, had promised during his campaign not to accept contributions from the industry he is responsible for regulating. But he has taken at least $50,000 in contributions from insurance executives,… Continue reading CA Commissioner Lara ‘Deeply Sorry’ for Taking Donations from Insurance Industry He Regulates