On July 1, 2026, the New York Department of Financial Services (the NYDFS) published Insurance Circular Letter No. 3 (the Letter) regarding “2026 Motor Vehicle Insurance Reforms.” The Letter, addressed to “All Insurers Authorized to Write Motor Vehicle Insurance in New York State, the New York Automobile Insurance Plan, and Rate Service Organizations” concerns changes to the New York Insurance Law, Penal Law, and Civil Practice Law and Rules (the CPLR) relating to motor vehicle insurance as a result of Chapters 55 and 58 of the Laws of 2026 being signed into law on May 27 and May 26, 2026, respectively. The overarching purpose of the amendments was to “address drivers of rising costs affecting motor vehicle insurance premiums, including fraudulent and abusive claims practices, and to ensure that insurers obtain prior approval before increasing motor vehicle insurance rates.”
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Congress Moves to Extend the Terrorism Risk Insurance Act Until 2034
On June 29, 2026, the House of Representatives passed H.R. 7128, “TRIA Program Reauthorization Act of 2026” (the Act). The Act concerns the Terrorism Risk Insurance Act of 2002 (TRIA), which was passed in the aftermath of the September 11, 2001, terrorist attacks. TRIA requires commercial property and casualty insurers
Read More Congress Moves to Extend the Terrorism Risk Insurance Act Until 2034Texas Department of Insurance Unveils New Online Tools for Greater Department Transparency
On June 22, 2026, the Texas Department of Insurance (the Department) issued a news release (the Release) titled “TDI Prioritizes Transparency by Making Home and Auto Data Public.” The Release explains that the Department has “created resources to give Texans access to data the agency collects about home insurance
Read More Texas Department of Insurance Unveils New Online Tools for Greater Department TransparencyAct No. 9100: Virgin Islands Guarantee Fund Funding Level Increased
On June 22, 2026, the U.S. Virgin Islands Division of Banking, Insurance, and Financial Regulation (the Division) issued Bulletin 2026-04 (the Bulletin) regarding an “increase in the Virgin Islands Insurance Guaranty Fund amount and policyholder or third-party coverage limit[s].” The Bulletin informs residents of the Virgin Islands that Act No.
Read More Act No. 9100: Virgin Islands Guarantee Fund Funding Level IncreasedTexas Department of Insurance Issues Disallowed Expenses Data Call
On June 12, 2026, the Texas Department of Insurance (DOI) issued Commissioner’s Bulletin No. B-0004-26 (the Bulletin) to “[a]ll insurance companies licensed to write property and casualty insurance in the state of Texas.” The Bulletin, titled “Calendar Year 2025 Disallowed Expenses Data Call,” issues a mandatory data call under Texas
Read More Texas Department of Insurance Issues Disallowed Expenses Data CallCalifornia Intervenor Reforms Move to Final Review as CDI Submits Proposition 103 Rulemaking
On April 20, 2026, the California Department of Insurance (CDI) announced that it has submitted its Intervenor and Administrative Hearing Bureau Fairness and Accountability rulemaking package to the Office of Administrative Law (OAL) for final review. CDI describes this package as the most significant modernization of California’s intervenor system since Proposition 103 was enacted in 1988.
Read More California Intervenor Reforms Move to Final Review as CDI Submits Proposition 103 RulemakingConnecticut Insurance Commissioner Appointed
The Connecticut State Senate confirmed Josh Hershman as the insurance commissioner on April 8, 2026. Hershman has served as interim insurance commissioner since December 12, 2025.
Read More Connecticut Insurance Commissioner AppointedNew York Legislators Investigate Residential Property Insurance
What Happened
In a press release published August 25, New York Senators James Skoufis, Jamaal Bailey, and Brian Kavanagh announced a joint investigation into residential property insurance. The purpose of the investigation is “to identify the causes of reported increases in premiums and other obstacles to insuring new and existing single- and multi-family homes, including those occupied by homeowners and renters, and to identify legislation and policy changes that New York State should implement.”
Read More New York Legislators Investigate Residential Property InsuranceConnecticut Insurance Department Releases its National Climate Risk Survey
On August 16, 2021, The Connecticut Department of Insurance released its National Survey on Climate Risk in the Insurance Industry. The survey’s main objectives are for insurers to report on climate-related risks and to provide the Department with more information to evaluate climate risk.
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New Jersey Department of Banking and Insurance Issues Mandatory Business Interruption Insurance Policy Summary
On May 12, 2021, New Jersey adopted a law requiring insurers issuing policies covering loss or damage to property, including the loss of use and occupancy and business interruption, to provide their insureds with a one page summary of common insurance clauses in such commercial property policies. The summary, which was developed by the New Jersey Department of Banking and Insurance (“DOBI”), was posted on their website on August 16, 2021 and must be provided to all existing policyholders within 90 days of its posting (which is November 13, 2021). The summary is also required to be provided to any potential purchaser, or to any policyholder seeking renewal.
Read More New Jersey Department of Banking and Insurance Issues Mandatory Business Interruption Insurance Policy Summary