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Private passenger auto insurance had been experiencing a steady rate of declining claim frequency over the last two decades with a variety of factors having been identified as contributors to the trend, including an aging population, fewer miles driven, graduated licensing for teenagers, higher deductibles and more vehicles than drivers.Several additional factors came into play with the recession, including higher unemployment and fewer miles driven. Recovery post-recession however occurred not

In Liberty Surplus Ins. Corp. v. Ledesma & Meyer Construction Co., Inc. (No. S236765, filed 6/4/18) (L&M), the California Supreme Court ruled that the liability insurance requirement that injury be caused by an “occurrence,” defined as an “accident,” does not preclude coverage of an employer’s independent tort liability for injury deliberately caused by its employee.In L&M, Liberty insured a construction company that contracted to manage a construction project at a middle school in S

Attorneys general from California, Oregon and New York on Thursday filed a motion to intervene in a case between the securities industry and the U.S. Department of Labor, petitioning the full 5th U.S. Circuit Court of Appeals to revisit its earlier decision on a rule governing investment advice for retirees.The court, in a 2-1 decision in March, found in favor of the U.S. Chamber of Commerce, the Securities Industry Financial Markets Association and others that argued that the DOL’s fiduciary ru

A new study from the Insurance Research Council (IRC) shows that claimed economic losses for auto bodily injury liability (BI) insurance claims increased 10 percent annualized from 2012 to 2017, substantially above the medical inflation rate of 3 percent over the same period. Claimed economic losses include reported expenses for medical care, lost wages and other out-of-pocket expenditures. In 2017, medical expenses accounted for 79 percent of all claimed economic losses. Meanwhile, insurer paym