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Letter from Washington: Flood reform a rare opportunity for bipartisanship

With Congress facing record-low approval ratings and voters complaining about partisan rancor, bringing a floor vote on reforms to the National Flood Insurance Program should offer a rare opportunity for the parties to work together.

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Former realtors' lobbyist calls flood program a 'boondoggle'

Jimmy Williams, a former lobbyist for the National Association of Realtors, laid out how lobbying is done to NPR's Planet Money program, including what he called the "horrifying" National Flood Insurance Program.

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FIRE Podcast-Ian Bremmer: The rising threat of state capitalism

Ying Ma, a Heartland Institute policy advisor, interviews Ian Bremmer, president of the Eurasia Group, about state capitalism and the global battle between the state and the free market.

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Florida leaders rally for PIP reform

As Gov. Rick Scott pushes his "four pillars" of auto insurance reform, a bill that would radically overhaul the current Florida system has moved through its second House subcommittee.

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Why insider trading bans are ill-defined and harmful to markets

Federal prosecutors this month leveled insider trading charges against Level Global Investors LP co-founder Anthony Chiasson and other fund managers. But some economists question whether such activities should be considered crimes.

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Smooth Slider

Letter from Ohio: Insurance-scoring ban wouldn’t serve consumers well

by Alan Smith January 25, 2012

Ohio lawmakers should think twice before banning the use of credit information in insurance rate-setting and underwriting.

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New Jersey PIP reform proposal includes fee schedules

by Matthew Glans January 24, 2012

Personal injury protection coverage has become a growing burden for many states, with rising medical costs leading to higher auto insurance rates and in some instances, fraud. While PIP coverage is not bad in and of itself, reforms to control costs are necessary to keep PIP costs from spiraling out of control. Recent proposals from [...]

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Letter from Washington: The Tarheel State’s sticky auto insurance market

by Eli Lehrer January 24, 2012

North Carolina needs to shrink its largest-in-the-nation residual market and end the policy of guaranteeing insurers’ profits.

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New Jersey insurance chief reportedly stepping down

by R.J. Lehmann January 23, 2012

In just two years as the state’s banking and insurance commissioner, Tom Considine successfully pushed through reforms liberalizing New Jersey’s reinsurance, surplus lines and captive insurance laws.

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FIRE Podcast-Robert Detlefsen: Litigation finance could impact insurance claims

by R.J. Lehmann January 20, 2012

C-FIRE Deputy Director R.J. Lehmann talks to Robert Detlefsen, vice president of public policy with the National Association of Mutual Insurance Companies, about the burgeoning market for third party-financed lawsuits.

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New video decries Florida Cat Fund’s ‘Hurricane Tax’

by Matthew Glans January 19, 2012

A new video illustrates the risks all Floridians face because of the Florida Hurricane Catastrophe Fund’s potential $3.2 billion shortfall.

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Colorado could privatize workers’ comp insurer….sort of

by R.J. Lehmann January 19, 2012

Gov. John Hickenlooper’s plan would see the state still holding a 40% stake in Pinnacol Assurance, in hopes of using $14 million a year in dividends as a dedicated funding source.

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New report examines state insurance premiums

by Matthew Glans January 19, 2012

A new report from the National Association of Insurance Commissioners examining insurance premiums and risk exposure in every state was released in early January, and state insurance regulators and legislators alike are now scrambling to explain how these rates came to be. In the press release announcing the new report the NAIC explained how they [...]

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Many homeowners worldwide underinsured for earthquake risk

by Matthew Glans January 18, 2012

Many property owners worldwide are unprepared for earthquake damage, even in areas of the world facing an increased risk of seismic activity. In a new report from Swiss Re, the authors found that despite recent large scale earthquakes in Japan and New Zealand, most of the world is vastly under insured against earthquake risk. “Overall, [...]

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Letter from Austin: Senate chair wants to bring down rates

by Julie Drenner January 18, 2012

State Sen. John Carona, chair of Texas’ Senate Business and Commerce Committee, is running out of patience for high property insurance rates and warning more regulation could be coming soon.

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