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Major Automakers Want Congress to Bar California 2035 Electric Vehicle Plan

Article 0 Comments Major automakers want Congress to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states, warning the rules could begin impacting vehicle shipments in a few months. The U.S. House of Representatives will vote later this week on legislation to repeal a waiver granted by the U.S. Environmental Protection Agency under former President Joe Biden in December allowing California to mandate at least 80% electric vehicles by 2035. The Alliance for Automotive Innovation, which represents General Motors, Toyota, Volkswagen, Hyundai and other major automakers said in a letter released Monday car companies could soon be “forced to substantially reduce the number of overall vehicles for sale to inflate their proportion of electric vehicles sales.” The California Air Resources Board rules have been adopted by another 11 states, including New York, Massachusetts and Oregon accounting for about 40% of the U.S. auto market. The state did not immediately comment. “Allowing these gas vehicle bans (something never attempted before in the United States) to proceed will increase automobile prices and reduce vehicle choices for consumers across the country at precisely the same time they are adjusting to the...

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Planning With Purpose: Trends in Guiding Clients for Values-Based Giving

Date: Tuesday, June 3, 2025·Time: 1pm ET | 10am PT·Cost: Complimentary·Sponsored by: ·Charitable giving is rapidly becoming more driven by issues and values, with 74% of family foundations now adopting an issue-based focus — up from 54% in 2015, according to the National Center for Family Philanthropy. For financial advisors, this shift presents a powerful opportunity to strengthen client relationships by aligning wealth management with what matters most to clients and their families.·This webcast will focus on how financial advisors can:·>  Best work with investor clients and families to agree upon and define their broad charitable giving values and focus;>  Communicate across multiple generations;> Develop more specific goals and/or single issues for their philanthropic endeavors;> Structure charitable investing plans based on the above processes;> Understand and use different charitable giving tools — like donor advised funds (DAFs), qualified charitable deductions (QCDs) and charitable remainder trusts (CRTs); and> Keep up with trends affecting charitable investing on a regular basis, while ensuring that clients are on track to achieve their charitable investing goals.·Featured Speakers:· John Manganaro | Senior Reporter | Think AdvisorJohn Manganaro focuses his coverage on all things retirement, with a special emphasis on the perspective of financial planning professionals and wealth...

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DoorDash Asks Judge to Dismiss Uber Suit Over Web Ordering Services

Article 0 Comments DoorDash Inc. asked a California judge to dismiss Uber Technologies Inc.’s anticompetition lawsuit against it, arguing that Uber is using an “ill-fitting” state law to justify its claims. DoorDash, which has two-thirds of the U.S. food delivery market, argued in a statement about their filing in state court in San Francisco that Uber’s February lawsuit is “nothing more than a cynical and calculated scare tactic.” At the heart of the allegations are the white label delivery services that both companies have been expanding to increase their revenue. These offerings allow restaurant chains to build delivery ordering into their own websites and apps, so customers can use their technology and couriers without having to go to the Uber or DoorDash apps or website. In February, Uber alleged in a lawsuit that DoorDash uses “coercive” practices such as threatening restaurants with multimillion-dollar penalties, or demoting restaurants’ positions on the DoorDash app if they didn’t agree to exclusive or near-exclusive use of its white-label delivery offering. That has stifled competition with Uber’s own delivery service, costing it millions of dollars in revenue, Uber said. DoorDash denies the allegations, saying it “competes fiercely yet fairly” and that merchants have the choice...

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People Moves: Dutcher Joins RMIC as Marketing Representative for Indiana and Michigan

Article 0 Comments Levi Dutcher Rockford Mutual Insurance Company (RMIC), headquartered in Rockford, Illinois, appointed Levi Dutcher as marketing representative for the states of Indiana and Michigan. Dutcher, based in Grand Rapids, Michigan, most recently served as senior field territory manager with Farmers Insurance, where he worked for almost 14 years. RMIC provides auto, home, farm, and commercial multi-peril insurance products. Policies are written through independent agents appointed throughout Illinois, Wisconsin, Indiana and Michigan. Topics Michigan Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

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Alabama House Advances Bill to Let Police Enforce Immigration Laws

Article 0 Comments MONTGOMERY, Ala. (AP) — Alabama lawmakers advanced legislation last week that would allow local law enforcement to enforce immigration law, as conservative legislators push for increased alignment with the federal government’s crackdown on immigration. The bill was dubbed “Laken Riley Act,” named after the 22-year-old Augusta University student who was killed last year in Georgia by an undocumented immigrant. President Donald Trump signed a similar law into affect in January that requires the detention of unauthorized immigrants accused of theft and violent crimes. House Bill 7 is now in the Senate Judiciary Committee. If signed into law, the Alabama version of the bill will allow local and state law enforcement agencies to enter into agreements with federal agencies to enforce the country’s immigration laws. “It’s simply a common-sense grassroots approach to help enforce already existing laws that are on the books in our community,” said the bill’s sponsor, Republican Rep. Ernie Yarbrough. The bill drew swift rebuke from the House of Representative’s Democratic minority. Rep. Chris England said the bill would make profiling inevitable because he said officers are more likely to detain nonwhite people who don’t speak English. He added that the stakes are higher given...

Will AI really transform the insurance industry? 0

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Will AI really transform the insurance industry?

By Mark Breading, Senior Partner of Transformation Services, ReSource Pro — With the thousands of blogs, articles, and presentations on AI and P&C insurance saturating the market, you may be wondering, “What more can be brought to the table?” While this may seem like just another blog on the topic, our research at ReSource Pro goes deep into the current state of AI across the ecosystem – agents/brokers, MGAs, and carriers. It would be easy to share real and potential use cases, and I have been doing so in many forums and with many customers over the years. However, here, I want to address AI from a completely different angle – how AI will change the customers and risks of the industry. How is AI transforming insurance, and who does it impact? Most of the discussion on AI and insurance centers on operations… and there is certainly great potential to improve operational efficiency and effectiveness for all entities across the ecosystem. More efficient workflows and improved decisioning are always highly sought after, and AI solutions enable the industry to take those to new levels. But it is worth spending time thinking about the impact of AI on the external environment...

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Ray of Hope Emerges for ‘Forever Bars’: SEC Roundup

[embedded content]Welcome to SEC Roundup, a bimonthly video series by former Securities and Exchange Commission senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Choice Advocates Network. The recent SEC directive to respond to Thomas Powell’s petition for reinstatement could signal a shift in how the agency handles its controversial administrative bars. Powell shared his struggle with what industry professionals call “forever bars” — SEC-imposed restrictions that often extend far beyond their stated duration. Powell settled with the SEC in September 2021 for a $75,000 fine and accepted a two-year bar with the right to reapply afterward. He filed for reinstatement in January 2024 but was met with silence until this week when the Commission finally directed staff to respond to his petition. Mark Hiraide, ICAN’s senior legal director, explained that unlike monetary penalties, industry bars have devastating consequences. These restrictions extend beyond employment to include trading limitations and may trigger “bad boy” disqualifications under Regulation D. Powell described unexpected consequences: “My trading companies fired me — all of them. They closed my 401(k), my IRA, all accounts were summarily closed.” American Express even canceled his corporate cards, stranding employees traveling for business. This...

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PG&E Misses 1Q Profit Estimates on Higher Expenses, LA Wildfire Worries Linger

Article 0 Comments PG&E Corp. missed first-quarter profit estimates on Thursday, as the power company was hurt by higher operating and interest expenses. Higher-for-longer interest rates push up borrowing costs for utility companies, which typically need more capital for expenses such as maintaining the grid. Related: Lawsuits Accuse Insurers of Colluding to Drop Coverage in Fire-Prone Parts of California PG&E said its interest expenses rose 2.7% to $734 million in the first quarter from a year earlier. Multiple wildfires scorched tens of thousands of acres across Los Angeles in January in what is now expected to be the most costly natural disaster in U.S. history. The area’s electric utilities have also come under increasing scrutiny. Related: Southern California Edison Lays Out $925M Plan to Rebuild After LA Wildfires The utility, which filed its wildfire mitigation plan for 2026 to 2028 in March, expects to construct nearly 700 miles of underground powerlines and 500 miles of other wildfire safety system upgrades between 2025 and 2026. PG&E said that average residential electric rates were lower in March than they were a year earlier and it expects natural gas delivery rates to remain flat in 2025. On any tariff impact, PG&E on a...

Almost 1 in 3 insurance claims are due to a catastrophic weather or climate event: Allstate Canada 0

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Almost 1 in 3 insurance claims are due to a catastrophic weather or climate event: Allstate Canada

Homeowners taking steps to prepare during clear blue skies can help reduce the impact of the next storm Markham, ON (Apr. 7, 2025) – Catastrophic weather and climate events are no longer a rare occurrence in Canada. According to a recent Léger poll conducted on behalf of Allstate Insurance Company of Canada, only 27 per cent of Canadian homeowners who responded say they are very confident their home is prepared for a major weather or climate event, such as a tornado, flooding, wildfire, or hail that cause wide-spread damage to communities. Allstate in-house data shows that 29 per cent of claims it received over the last 10 years – that’s almost 1 in 3 – were from major weather or climate events. Analysis shows the number of claims due to large events was particularly high in 2024, with approximately 2.4 times more claims when compared to 2023. In fact, the Insurance Bureau of Canada’s industry-wide numbers show that 2024 shattered the record for costliest year for severe weather-related losses in Canadian history, at over $8.5 billion. Given the real possibility of such events in the future, being prepared requires ongoing education and information to support homeowners with adopting proactive behaviours....

Majesco’s Latest Release Moves Beyond Insights to Real Business Impact 0

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Majesco’s Latest Release Moves Beyond Insights to Real Business Impact

Accelerating Intelligent Efficiency and Optimization in Insurance Morristown, NJ (Apr. 8, 2025) – Majesco, a global leader in cloud insurance software solutions, is pleased to announce the launch of its Spring ‘25 Release, a major milestone underscoring Majesco’s unwavering commitment to innovation and operational transformation for the insurance industry and customers. Focused on delivering real, measurable business impact, the release introduces intelligent, business outcome-driven capabilities designed to empower insurers to move faster, optimize and streamline operations, deliver enhanced business results, and lead confidently in an ever-evolving market. With a clear focus on efficiency, the Spring ’25 Release introduces advanced automation, GenAI innovations, and performance enhancements across the entire Majesco Platform of solutions, empowering both business and IT users. It marks another major step in the evolution of Majesco Copilot, moving from simple insights to true operational impact – streamlining complex workflows, reducing manual effort and optimizing cost structures. “Operational effectiveness and efficiency are more critical than ever. Our Spring ’25 Release is designed to help insurers rapidly adapt to market conditions and stay ahead of the competition and customer demands by delivering advanced capabilities that accelerate product and service launches, with a strong focus on operational and cost optimization,” said...