Premiums

Missouri Simplifies Commercial Financing: New Law Exempts Insurance Premiums from Disclosure Requirements

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JEFFERSON CITY, Mo. — Recent changes to Missouri’s commercial finance regulations include a significant exemption for insurance premium financing. The new provisions are part of a broader effort to clarify the state’s approach to commercial finance disclosures, a move that industry stakeholders are closely monitoring. Under the revised law, insurance premium financing will be exempt from certain disclosure requirements that typically apply to other forms of commercial financing. This exemption aims to reduce the regulatory burdens placed on businesses seeking to finance insurance premiums, which are crucial for maintaining the operations of various enterprises. The … Read more

Triple-I Report Uncovers Connection Between Attorney Ads, Mass Torts, and Soaring Insurance Premiums

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New York – A recent analysis from the Triple-I Institute highlights a potential connection between aggressive attorney advertising, the rise of mass torts, funding from third-party litigation, and increasing costs for liability insurance. This report raises concerns about the broader implications of these interconnected factors on the insurance landscape. The findings suggest that the growing trend of attorney marketing strategies may prompt a surge in mass tort cases, leading to heightened legal costs. Such cases often involve numerous plaintiffs with similar claims, driving insurers to raise premiums to manage the risk associated with these larger … Read more

New Study Reveals Potentially Fraudulent Practices Impacting Florida Homeowners Insurance Premiums

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TALLAHASSEE, Florida — A new study commissioned by the Florida Legislature reveals a concerning trend in the state’s insurance landscape. The study analyzed 58,395 insurance claims that led to lawsuits in 2022 and found that a disproportionately high number of these claims occurred in Miami-Dade, Broward, and Palm Beach counties. This raises suspicions of potential fraudulent or abusive practices prevalent in these areas. Additionally, litigated claims were found to be more than six times more expensive than non-litigated claims, potentially contributing to the high homeowners insurance premiums in Florida. Florida Insurance Commissioner Mike Yaworsky expressed … Read more