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Texas Auto Insurer for Residual Market Approved for Rate Increase

Insurance Journal

The Texas Department of Insurance (TDI) said in a bulletin this month that it has approved private passenger and commercial auto rate increases for the Texas Automobile Insurance Plan Association (TAIPA), the state’s residual market for auto insurance. Private passenger …

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Ex-Police Officers Plead Guilty to Conspiring in Auto Insurance Fraud Scheme

Insurance Journal

Two former police officers have pleaded guilty to federal charges in connection with an auto-insurance fraud scheme, according to U.S. Attorney for Maryland Kelly O. Michael Anthony Owen, Jr., a former Prince Georges County officer, pled guilty to falsification …

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Top 5 Auto Insurers File for Average 6% Rate Reduction This Year, Florida OIR Says

Insurance Journal

Florida may have had some of the highest property and auto insurance rates in the country in recent years, but so far this year, the largest auto insurers have filed for rate decreases averaging about 6%, regulators said. “We are …

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Goldman Sees Autonomous Vehicles Transforming Insurance World

Insurance Journal

The rise of autonomous vehicles will force a reconfiguration of the $400 billion US auto-insurance industry, as accidents caused by human error decrease and costs are slashed, but questions about liability remain, according to Goldman Sachs. “Autonomy has the potential …

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Kentucky Auto Insurers Must Use Blue Book or J.D. Power on Vehicle Values, DOI Says

Insurance Journal

Auto insurers in Kentucky now have some official guidance and liability protection when determining the value of wrecked vehicles. In keeping with Senate Bill 136, approved on an emergency basis by state lawmakers this year, the Kentucky insurance commissioner last …

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APCIA Warns Michigan Auto Insurance Bill Could Destabilize Market

Insurance Journal

By Ezra Amacher A Michigan lawmaker has proposed legislation that would mandate auto insurance premium reductions of at least 10% on any new or renewed policy, a bill that the American Property Casualty Insurance Association (APCIA) says would destabilize the …

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NYC Mayor Adams Signs Bill Lowering For-Hire Vehicles’ Insurance Mandate

Insurance Journal

New York City Mayor Eric Adams has signed into law legislation reducing the auto insurance liability coverage that for-hire vehicles must carry. The new law reduces the amount of personal injury protection (PIP), or no-fault, insurance coverage that the city’s …