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News
New York proposes prior approval for all auto insurance rate hikes
10+ hour, 50+ min ago (416+ words) New York regulators have proposed requiring auto insurers to obtain prior approval before implementing any increase in private passenger insurance rates. The New York State Department of Financial Services said the change forms part of auto insurance reforms included in…...
UK commercial insurance adds £29 bn to economy, ABI says
11+ hour, 28+ min ago (816+ words) The UK insurance market contributes around £29 bn annually to the economy and supports more than 300,000 skilled jobs, according to a report from the Association of British Insurers. Around two-thirds of those positions are located outside London, giving the sector a…...
US commercial insurance prices rise 0.5% in Q2 2026, WTW says
12+ hour, 8+ min ago (413+ words) US commercial insurance prices increased 0.5% in the second quarter of 2026, according to WTW’s Commercial Lines Insurance Pricing Survey. The result shows further moderation from a 2.5% increase in the first quarter and 3.8% in the second quarter of 2025. CLIPS compares premiums for commercial…...
Auto insurance shopping declined in Q2 2026
4+ week, 2+ day ago (338+ words) Auto insurance shopping declined in the second quarter of 2026, but switching increased, according to the J.D. Power Signals Intelligence for Personal Lines Insurance Quarterly Report, produced with TransUnion. The pattern points to a narrower, more selective consumer market. Fewer auto insurance…...
Illinois Bill 714 targets auto insurance premium hikes
1+ mon, 5+ day ago (357+ words) Illinois enacted a new auto insurance law that gives state regulators more oversight of premium increases and creates new consumer protections for drivers. Senate Bill 714 was signed into law Tuesday. It takes effect July 1, 2027. State Senator Ram Villivalam, a Chicago…...
Illinois gives regulators power over auto insurance rates
1+ mon, 5+ day ago (491+ words) Illinois Gov. JB Pritzker signed legislation giving state regulators new authority to review and challenge sharp auto insurance rate increases, ending one of the least regulated auto insurance systems in the US. The measure, Senate Bill 714, takes effect July 1, 2027. It…...
Insurtech Root launches behavior-based car insurance in New Jersey
1+ mon, 6+ day ago (373+ words) Root expanded its mobile-first, behavior-based car insurance product into New Jersey, bringing the telematics insurer into its 37th US state. The launch gives Root access to more than 6.6 mn eligible drivers in New Jersey and extends its reach to more than…...
New York expands auto insurance fraud crackdown
1+ mon, 2+ week ago (824+ words) New York is widening its campaign against auto insurance fraud after a sharp rise in suspected fraud incidents and rising pressure on vehicle owners. Governor Kathy Hochul said the state has seen a surge in suspected auto insurance fraud, along…...
Global commercial insurance rates fell by an average of 6% in Q2 2026
1+ mon, 2+ week ago (481+ words) Global commercial insurance rates fell by an average of 6% in the second quarter of 2026, according to Marsh’s latest Global Insurance Market Index. The decline followed a 5% drop in the first quarter and marked the eighth straight quarter of falling rates....
Allstate wins jury trial right in New Jersey insurance fraud case
1+ mon, 2+ week ago (730+ words) New Jersey’s Supreme Court has ruled that Allstate Insurance has the right to a jury trial in fraud and conspiracy claims against more than 30 medical providers under the state’s Insurance Fraud Prevention Act and Anti-Racketeering Act. The court also found…...