The rest of the Price Optimization story…

As I have been investigating price optimization (PO), I learned that there are two primary concerns:  The first concern is whether the application of PO is a move away from risk based rating.  The second concern is whether PO results in rates that are unfairly discriminatory, particularly to low income consumers.  In other words, would […]

Auto Insurance Policy Exclusions: Livery and Delivery Exclusions

Private passenger auto policies commonly excluded liability coverage for “livery” use starting around the middle of 1960, and the courts customarily applied this exclusion where the private passenger auto was used as a taxi (i.e. gypsy cab). As the courts eroded the effectiveness of the exclusion, and for-profit use of the private auto expanded, insurers […]

2014 Laws for Transportation Network Companies (TNCs) and Drivers

This is a compilation of my notes on key regulation of Transportation Network Companies (TNCs) and TNC Drivers reported in various insurance industry communications during 2014.  I share it with you as a point of reference covering many key developments being closely watched by the private passenger auto insurance carriers, as the exposure to adjust, defend or […]

Insurance mailing rules for Cancellation & nonrenewal notice

In calculating the number of days for mailing notice of cancellation or nonrenewal, an insurer must add “mailing days” to the minimum number of days required as advance notice before the effective date. The number of days that must be added varies by state, and state specific research is needed to determine the requirements.  The general […]