Consumer Watchdog says Insurance Commissioner Lara’s approval last week of a $263.7 million rate hike by California’s largest insurer, State Farm, marks the latest in a flurry of approvals of unjustified 2023 auto insurance rate hikes by the top 6 auto insurers, collectively totaling over $1 billion. These companies insure approximately 48% of the state’s […]
Virginia and North Carolina Insurance Commissioner to Address April 12 SCRS Open Meeting
The Society of Collision Repair Specialists (SCRS) announced it will host a special open board meeting on Wednesday, April 12, from 8:00 – 11:30 a.m. in the Potomac Room at the Omni Richmond in Richmond, Va. The open board meeting will include a special educational session from 10:15 – 11:30 a.m., in collaboration with the […]
Pennsylvania Insurance Department Fines First Acceptance Insurance Company for Misleading Consumers
Acting Pennsylvania Insurance Commissioner Michael Humphreys yesterday released a market conduct examination report of First Acceptance Insurance Company that resulted in a $105,000 penalty. The examination found that agents for the company were misleading consumers and adding on optional third-party coverages without the consumer’s knowledge or full understanding. According to the market conduct report, two-thirds […]
North Carolina Rate Bureau Requests 28.4% Auto Insurance Rate Increase
Insurance Commissioner Mike Causey announced that the North Carolina Rate Bureau has submitted a rate filing with the N.C. Department of Insurance, requesting an increase for auto policies. In the filing, the bureau has requested an overall average statewide increase in private passenger auto insurance rates of 28.4 percent, which would become effective on October […]
Nick Stosic Named Interim Commissioner at Nevada Division of Insurance
Nevada’s Director of the Department of Business and Industry, Terry Reynolds yesterday announced the appointment of Nick Stosic as Interim Insurance Commissioner at the Nevada Division of Insurance, effective today. The appointment was made following the resignation of Barbara Richardson, who has served in the role since March 2016. Stosic most recently served as the […]
Allstate-Brand Auto Rates Raised 8.9% Across Six Markets
Georgia Insurance Commissioner warns of 25% Allstate rate increase coming in September. The Allstate Corporation (NYSE: ALL) provided an update on catastrophe losses and its ongoing program to raise auto insurance rates to address rising costs during July. “Allstate will continue to implement significant rate actions in the second half of 2022 in response to […]
California Insurance Commissioner Investigated Over Campaign Finance Complaints
Regulator investigates insurance companies funneling $122,500 to Lara campaign. According to the nonprofit Consumer Watchdog, seven insurance companies have contributed $122,500 to the LGBTQ Caucus, which in turn spent the money on an independent expenditure campaign to re-elect Ricardo Lara as insurance commissioner without disclosing the source of the donations. Consumer Watchdog filed a complaint […]
Pennsylvania Insurance Commissioner Jessica Altman to Step Down
Pennsylvania Governor Tom Wolf announced that the Pennsylvania Insurance Department (PID) Commissioner Jessica Altman will resign her position with the commonwealth on Friday, February 25. “Commissioner Altman has been a steadfast leader for Pennsylvanians throughout her tenure in state government including protecting access to high-quality, affordable health care by holding insurance companies accountable, ensuring adequate […]
Mark Afable Steps Down as Wisconsin Insurance Commissioner
Wisconsin Governor Tony Evers announced Insurance Commissioner Mark Afable is leaving the Evers Administration. Commissioner Afable will leave his position in December and retire from public service. “Mark has been a part of our administration from the very beginning, and his dedication to expanding health insurance access, protecting a competitive insurance marketplace, and building insurance […]
Allan McVey Appointed West Virginia Insurance Commissioner
West Virginia Governor Jim Justice announced that he has appointed Allan L. McVey as West Virginia Insurance Commissioner. McVey has served as Cabinet Secretary of the West Virginia Department of Administration since January 2019. McVey previously served as West Virginia Insurance Commissioner from March 2017 until his appointment as Secretary of Administration. McVey fills the […]
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