Unregistered driver exclusions in automobile insurance policies are allowable and enforceable, and do not violate the state's Motor Vehicle Financial Responsibility Law, ruled the Pennsylvania Supreme Court. "[I]nsurers are not compelled to underwrite unknown and uncompensated risks," Justice Debra Todd wrote in the majority opinion.
Derivatives traders are betting market volatility will decrease, but some analysts expect volatility to continue in coming months because of US-Chinese trade tensions and a global economic slowdown.
President Donald Trump says he is reviewing "various tax reductions," including cutting the payroll tax and indexing the capital gains tax to inflation. He has rejected the idea that the US is headed into a recession, touting the low unemployment rate and the amount the stock market has risen since he took office.
The majority of US businesses have upped their commitment to renewable energy, likely in response to climate change reports. A recent Deloitte study has found that businesses remain committed to an efficient use of resources for fiscal reasons, and they are increasingly active in sustainable development.
Two bills in the Massachusetts Legislature could lead to mandatory solar panels in new residential and commercial construction projects and in renovation of state-owned buildings, respectively. The state aims to reduce its carbon emissions 80% by 2050, and it is roughly 25% of the way toward meeting that goal, thanks in large part to efforts in the electricity sector.
Insurer-initiated homeowner policy non-renewals in areas where Cal Fire is primarily responsible for fire mitigation increased 6% from 2017 to 2018, according to a California Department of Insurance report. "Insurers remain committed to covering homes in rural and urban zones, despite paying out more than $26 billion in claims from the 2017 and 2018 wildfires," said APCIA in a joint statement with Rex Frazier from the Personal Insurance Federation of California.
Shared mopeds offered by Revel were rolled out in Washington, D.C., this past weekend, where the first accident involving such a vehicle also occurred. A man reportedly hit a pothole on Sunday, causing him to fall off the vehicle, which partially landed on top of him and broke his collarbone.
Ohio's Cuyahoga and Summit counties agreed to accept $10 million from Endo International and $5 million Allergan to settle an opioid-related lawsuit. Other drugmakers, including Purdue Pharma and Teva Pharmaceutical, will still go to trial Oct. 21.
During the National Association of Insurance Commissioners' 2019 Summer National Meeting, a task force discussed possible revisions to anti-rebating provisions. "APCIA expressed preference for the approach taken by the Ohio Insurance Department in Bulletin 2019-14, which interprets the anti-rebating laws to allow value-added products or services at no or reduced cost," Eversheds Sutherland wrote in a recap of the event.