May 16th, 2023
Paul P. Martin, Founder & President of Martin & Company, sits down with the folks at AM Best during the Target Markets Mid-Year meeting in Boston to discuss Outsourcing and Capacity
Governor Kemp Signs Legislation Giving Insurance Commissioner More Authority Over Auto Rates
Insurance and Safety Fire Commissioner John F. King announced today that Governor Kemp has signed legislation reforming how private auto insurance rates are filed in Georgia. House Bill 221 gives the Commissioner the ability to review all car insurance rate filings before they go into effect, closing a loophole that insurers had previously exploited to increase rates by as much as 25 percent in a single filing.
May 3rd, 2023
Colorado releases Notice of Adoption – Emergency Regulation 23-E-03
The Division would like to provide notice that the Commissioner has adopted emergency regulation 23-E-03. The purpose of this emergency regulation is to protect homeowner policyholders who have suffered a loss during a catastrophic disaster, such as the 2020 Colorado East Troublesome Fire and the 2021 Marshall and Middle Fork Fires, from insurers that cause unreasonable delays in claim handling, which may further delay rebuilding property. Such delays may be further exacerbated by labor and material shortages. Further, this regulation identifies specific acts or practices that may constitute unfair claim settlement practices.
Check out emergency regulation 23-E-03 to learn more.
April 17th, 2023
April 13th, 2023
North Dakota releases Executive Order 2023-04 – Spring Flood Emergency Declaration
The state of North Dakota has experienced a record-breaking snowfall winter season and is facing a delayed snow melt with the potential to result in significant flooding. Different areas in North Dakota have issued emergency declarations to address the flooding and storm impacts.
Check out Executive Order 2023-04 to learn more.
LDI Unveils Comprehensive Market Reforms to Strengthen Housing Stock and Stabilize Market
A suite of comprehensive reforms to Louisiana’s insurance market to stabilize rates for homeowners and build long-term sustainability was just unveiled. The legislative package, which includes legal reforms, strong incentive programs for homeowners and insurers, and a significant investment in FORTIFIED roofing, represents tested policies that directly respond to the insurance crisis.
The entire press conference can be viewed here.