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FL Regulators: Execs of Bankrupt Insurers Illegally Took New Roles | Insurify

Florida law bars executive officers and directors who’ve worked for now-insolvent insurance companies from taking similar roles in the state’s industry. But a number of insurers are ignoring the so-called “no-fly” rule that took effect in 2002, the Tampa Bay Times reports. Industry executives have

Colorado Travel Insurance Regulations Take Effect | Insurify

Colorado residents may find their summer vacations a bit more relaxing this year. The state’s new regulations for travel insurance take effect Aug. 7. The Travel Insurance Model Act, signed into law by Gov. Jared Polis in April, applies to travel insurance that covers Colorado residents and any travel

New York Moves to Regulate Pet Insurance Industry in the State | Insurify

New York pet owners may soon see a change in their pet insurance policies. Legislators recently passed a law that establishes industry standards in the state and gives New York’s Department of Financial Services oversight of the industry. The law requires pet insurers operating in New York to follow

Allstate Sues 19 NYC Pharmacies, Alleging $2.7M+ in Billing Fraud | Insurify

In just four days, Allstate filed lawsuits against 19 pharmacies in the New York City area, accusing them of overbilling the insurer for treating car accident victims. Allstate filed about five lawsuits per day from Sept. 16 to 19 in the U.S. District Court for the Eastern District of

Fighting High Auto Insurance Premiums Will Need a ‘Wholistic’ Approach, Louisiana Legislators Say | Insurify

Louisianians pay the sixth-highest rates for car insurance, according to Insurify’s auto insurance report. With Insurify projecting a 23% increase by the end of 2024, the news isn’t getting any better. But state legislators say they’re aware of the problem and have been taking steps to

Does Car Insurance in No-Fault States Cost More? | Insurify

Lawmakers in the 1970s designed no-fault insurance laws to lower car insurance premiums by reducing the number of expensive lawsuits to decide fault. But that hasn’t exactly worked, and consumers are paying for it. No-fault systems suffer from patchy insurance laws and low “tort” thresholds, which describe

Could Floridians Vote Their Way to Lower Insurance Rates? | Insurify

Floridians pay the highest home insurance rates in the nation — $10,996 per year, according to Insurify data. And car insurance rates aren’t much better, with the state’s average full-coverage rate amounting to $3,166 per year. That’s the fifth-highest rate in the nation. But