2021
Consumer Groups Call on FIO to Dig Deep into “Unfairness” in Auto Market
A group of consumer organizations urged the Department of Treasury’s Federal Insurance Office (FIO) to update a 2017 study on the affordability of auto insurance in historically underserved communities and to conduct a “deep and thorough investigation of unfair discrimination in auto insurance markets”. While state laws in all states but New Hampshire require drivers to purchase auto insurance, the group holds that it is often unaffordable for lower-income drivers and that industry pricing practices that rely on non-driving, socio-economic characteristics of customers disproportionately penalize people of color with higher premiums and fewer choices in the market.
Did Covid Change That?
Some indicators really do point to to where the market is heading … long term. With housing affordability a major problem in the U.S., millennials who are trying to find their first entry into home ownership are stumbling, seeking exurban homes, living smaller or renting … or all of the above. Top 10 global asset […]
Aflac Global Investments Announces $2.1 Billion Strategic Partnership with Denham Capital to Accelerate Denham Sustainable Infrastructure’s Platform
Aflac Global Investments, the asset management subsidiary of Aflac Incorporated, announced a new partnership with Denham Capital — a global sustainable infrastructure, energy and resources investment firm — to expand the Denham Sustainable Infrastructure business. Aflac Global Investments has made a $2 billion commitment to Denham Sustainable Infrastructure to launch a new debt platform, which […]
Insurance Leader Will Head International Foundation To Address “Human Ecology”
Marking the sixth Anniversary of his landmark encyclical, Laudato, Si, Pope Francis expressed his keen interest in seeing his encyclical’s focus, “human ecology” translated into action over the years ahead. During a May 26th meeting in Rome, the St. Francis Day Foundation, a non-profit organization to serve mankind through a series of mandates was born, […]
New Policies will Help Transgender People Obtain Appropriate Treatment for Gender Dysphori
NYS Office of Mental Health and Department of Financial Services Announce NY Insurance Carriers Complying with State Requirements to Provide Coverage for All Gender-Affirming Treatments The NYS Office of Mental Health (OMH) and Department of Financial Services (DFS) has announced that insurance carriers in New York are complying with new State requirements to provide coverage […]
AI: Digitization, Automation, AI Define Role of Human Agents in Insurance Industry
The digitization of the insurance industry is inevitable but human interaction is still an essential part of the process. Paul Ford, CEO of insurance platform Traffk, explains how the companies that will succeed are those that use data and automation to develop better products and help their agents become advisors. Artificial Intelligence (AI) and automation […]
“Unfair Trade Practices” Exclusion Does Not Extend to Consumer Protection Claims
By Mary McCutcheon and Shanti Eagle Two phrases combined in a single exclusion — “alleging, arising out of, based upon or attributable to any violation of any law…” and “as respects… unfair trade practices” could inspire carriers to make trouble for policyholders seeking coverage for consumer protection claims. Fortunately, a recent federal decision recognizes that […]
The Four Corners Rule Strikes Again
It is axiomatic that the duty to defend is broader than the duty to indemnify. However, every liability policy excludes coverage for the intentional act of shooting a plaintiff in the stomach with a gun. However, in Pennsylvania, where the four corners rule of policy interpretation applies, when a plaintiff alleges both intentional and negligent […]
