4+ day, 9+ hour ago (612+ words) While State Farm Insurance posted several highly visible rate hikes this year " and appears poised to return to profitability with the strongest underwriting performance in two decades " the credit rating firm AM Best has downgraded the insurer's financial strength outlook. AM Best, the world's largest credit-rating agency specializing exclusively in the insurance industry, said the downgrade reflects an "adverse underwriting experience" from increasing losses in both auto and homeowners insurance. It also noted a challenging regulatory environment and frequent hurricanes and wildfires. The downgrade knocked State Farm, the country's largest property and casualty insurer by market share, from the very top of AM Best's rating scale (A++) to A+. The agency also downgraded the company's long-term issuer credit rating to "aa", from "aa+" . While the insurer's ratings still indicate high financial strength, even a relatively small ratings cut could substantially…...

2+ week, 5+ day ago (367+ words) Chicago, Nov 11, 2025 "The coming year may pose challenges to insurers that are outside their control, such as economic uncertainty and weather catastrophes. However, there are several steps they can take to improve customer retention, which has fallen in 2025, according to TransUnion's latest analysis. The research includes a survey of consumers' attitudes and plans for managing their property and auto insurance policies over the coming year. These findings and many more insights on moderating rates and profitability are included in TransUnion's 2026 Trends and Outlook Report. "The landscape in 2026 will continue to be increasingly competitive, especially for auto policy growth," said Patrick Foy, senior director of strategic planning for TransUnion's Insurance business. "Using targeted marketing to speak to consumers about what they value most will create a significant advantage." Among the top reasons consumers said would make them more likely to stay…...

1+ day, 14+ hour ago (575+ words) Successful reforms targeting medical malpractice in 1975 and workers' compensation in 1991 solved Louisiana's insurance crises of those times. Putting the current auto liability crisis into that historical context may help provide a path for the present. In 1975, Louisiana enacted medical malpractice reform legislation aimed at addressing the escalating costs and diminishing availability of medical malpractice insurance. The legislation introduced a cap on noneconomic damage and limited awards for pain and suffering to $500,000, while allowing unlimited economic damages. This reform was designed to stabilize the medical malpractice insurance market, reduce the burden on health care providers and ensure that patients still had access to necessary medical services. At the same time, legislators created an underwriting entity, the Patients' Compensation Fund (PCF), to spur the market. Today, this insurance market is stable, competitive and healthy. In 1991, Louisiana passed comprehensive workers' compensation reform legislation…...

1+ week, 1+ day ago (162+ words) State Farm is asking California regulators to approve a 6.2% rate decrease on car insurance, citing a trend of decreasing auto claims costs, the company announced Thursday. State Farm Mutual Automobile Insurance Co. is the largest auto insurer in both California and the U.S. as a whole, insuring 18% of the market nationwide as of 2024, according to the National... State Farm is asking California regulators to approve a 6.2% rate decrease on car insurance, citing a trend of decreasing auto claims costs, the company announced Thursday. State Farm Mutual Automobile Insurance Co. is the largest auto insurer in both California and the U.S. as a whole, insuring 18% of the market nationwide as of 2024, according to the National" Vanguard On The 3 Best Investments " And Tech Stocks Aren't 1 Of Them Matters of Life and Death ICMG 2026: 3 Days to Transform Your Business Speed Networking, deal-making, and insights that…...

2+ week, 6+ day ago (681+ words) (The Center Square) " Illinois Secretary of State Alexi Giannoulias has expanded his campaign to regulate auto insurance rates. Giannoulias visited Chicago churches Sunday to push his campaign aimed at restricting insurance companies from using certain data to determine premiums. "After a successful virtual town hall series, where our office heard from over 900 Illinoisans, our office wanted to continue to build momentum by launching a faith-based focused outreach," the secretary said in a statement. "That's why we went to three Churches today to meet with faith leaders and their congregants and urge them to use their voice and share their story," Giannoulias added. A statement from the Secretary of State's office said over 900 Illinoisans participated in the town halls to learn more about the issue and share their stories. During the virtual town hall for Springfield residents last month, Giannoulias said…...