Florida Gov. Ron DeSantis has signed legislation overhauling assignment of benefits in the state, saying the measure expands consumer safeguards against predatory practices. APCIA's Logan McFaddin said, "This law will protect Florida home and business owners alike from bad actors who are taking advantage of them and our legal system just to put more money in their own pockets."
A bill to provide $19.1 billion in aid for areas affected by flooding, wildfires and other disasters has received Senate approval, and it also has the White House's support. The bill includes a reauthorization of the National Flood Insurance Program through Sept. 30.
APCIA's Frank O'Brien said at a Rhode Island legislative hearing that vehicles with advanced driver-assistance systems require calibration after windshield repairs. He pointed out, however, that certain original equipment manufacturers require the use of their adhesive, glass, technician and facility for windshield replacements.
NASA is conducting tests in Nevada and Texas as it looks to craft a program for managing unmanned aerial vehicles delivering a wide range of products. The GPS-equipped drones in the tests use onboard tracking systems linked to NASA computers to prevent collisions.
The Citizens for Lower Auto Insurance Rates, backed by Quicken Loans' founder, has filed to collect signatures on a petition that would allow a Michigan auto insurance overhaul to take effect without the governor's approval, with the alternative being a 2020 ballot question on the issue. State lawmakers have scheduled a session today in hopes of agreeing to and voting on legislation designed to reduce auto insurance rates in the state.
NAIFA has praised House passage of the Setting Every Community Up for Retirement Enhancement Act of 2019, which CEO Kevin Mayeux says "would give millions of Americans better opportunities to prepare for retirement." The Senate is considering the bill under a unanimous consent agreement, meaning a vote could happen today, a source says.
Limitations on which rating factors an auto insurance company can use in setting rates, such as Michigan's proposed ban on "non-driving" factors, could result in higher premiums overall, writes Michael Van Beek of the Mackinac Center for Public Policy. APCIA says eight states restrict insurers' use of rate-setting factors, while the remainder allow the consideration of such factors as age, credit score, gender and ZIP code.
US Bankruptcy Judge Dennis Montali has granted PG&E's motion to create a $105 million housing fund for those affected by California wildfires in 2017 and 2018. Montali said the selection of a fund administrator needs to occur within five days.
Insurers have been creating stand-alone options including active shooter coverage and non-damage business interruption coverage that do not need government certification as a terrorist incident so that coverage can be triggered, a Marsh report says. These developments are occurring as the Terrorism Risk Insurance Program Reauthorization Act, under which property coverage requires such certification as a trigger, is set to expire at the end of 2020.
The insurance industry is expanding its use of artificial intelligence and drones to more quickly assess claims and reduce safety risks. The ways that insurers are deploying AI and drones include assessing roof and vehicle damage as well as construction site safety.
- Page 1