Oregon — Help with Bad Insurance Bills: Public hearings on HB 3242-A and 3243-A were held in Senate Judiciary Committee on April 18 and 19. These bills could increase the cost of resolving claims, which can impact the cost of insurance for homeowners, drivers, renters, business owners, and medical professionals. According to the Division of …
Around the Western Alliance States – Week of April 24, 2023 Read More »
PIA Oregon-Idaho’s annual 3-day conference is back. So it’s time to connect and reconnect, to see old friends, make new ones and have a little fun! This year’s conference is in the shadow of Oregon’s majestic Mt. Hood and is at the Mt. Hood Oregon Resort in Welches, Oregon. Put the dates on your calendar …
PIA Oregon-Idaho Annual Conference — The 3-Day Event is Back! Read More »
We — the American people — have a growing love affair with artificial intelligence (AI). At this point, a lot of you are scratching your head wondering what that means. A lot of us are now using AI to do a number of things for us. Here’s a list of just some of the uses: …
COVID led to the Great Resignation and businesses around the U.S. and the world lost employees at a frightening level. Since COVID let up, businesses have tried to return to some semblance of normal. In some cases it has worked and in others returning to normal hasn’t been that easy. As you know, retention in …
Sophos is a cybersecurity company. It does a lot of tracking and recently concluded that — whether the business knows it or not — 94% of all organizations have seen some form of a cyber attack in the last year. And the message Sophos wants all businesses to know is that they WILL be a …
Cyber Attacks — A New, Very Frightening Statistic Read More »
Montana State Auditor and Commissioner of Securities and Insurance Troy Downing says his department is joining Alabama and Texas and is taking enforcement actions to stop a fraudulent artificial intelligence firm from operating in the Treasure State. The company is YieldTrust.ai and its CEO Stefan Ciopraga is accused of illegally soliciting investments tied to an …
An Alleged Artificial Intelligence Ponzi Scheme Stopped in Montana Read More »
You could say it’s a plague of sorts. At least that’s how some law enforcement agencies are describing auto thefts in the U.S. The National Insurance Crime Bureau (NICB) said the total number of autos stolen every month in 2022 hit around 75,000. That’s a lot of theft and it pushed the yearly total in …
The NICB — Auto Thefts Hit Over 1 Million in 2022 Read More »
Like several insurance groups, every month MarketScout issues a report to let all of us know if insurance rates are rising or falling. For the last several years the reports haven’t been as much about whether rates are going up or down, but have focused on how much they’re rising each month. And for the …
MarketScout — First Quarter Rate Hikes Up, Up, Up Read More »
California — Wildfire Homeowner Refunds: As part of his ongoing effort to keep insurance prices fair, Insurance Commissioner Ricardo Lara announced that Kemper Independence Insurance Company has issued over $1.5 million in refunds to thousands of California homeowners after the Department of Insurance found the company overcharged policyholders for wildfire risk. Kemper and its affiliate …
Around the Western Alliance States – Week of April 10, 2023 Read More »
The American Property Casualty Insurance Association (APCIA) and Verisk often take a detailed look at what’s happening with insurance income. The latest look has to do with underwriting. The APCIA said insurers saw a net underwriting loss in 2022 of $26.9 billion. That’s a staggering six-times more than the $3.8 billion lost in 2021. It …
2022 Underwriting Losses — The Largest in Over a Decade Read More »
