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Monthly Archives: July 2015

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Let the flood insurance games begin! Congress ponders premiums

Tue Jul 28th, 2015 on     Insurance Law,    

After discussing market considerations in setting insurance rates, we turn to recent activity in Congress. As you recall from our last two posts, insurance companies are required to set rates based on risk and loss expectations, not on supply or demand issues. Florida regulators maintain that insurance companies are increasing premiums because they can, not because they have to: Insurers realize that there is very little competition in some parts of the state and that they have, pardon the insurance pun, a captive audience.

Insurers to FOIR: It depends on what your definition of ‘is’ is p2

Mon Jul 20th, 2015 on     Insurance Law,    

In December 2014, the Consumer Federation of America raised some questions about how Allstate was calculating auto insurance premiums. The CFA alleged that Allstate was basing those premiums on “marketplace considerations.” These marketplace considerations focus on competition and supply and demand — factors that in most industries would certainly influence price.

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