Citizens Property Insurance Corp. reported that losses rose 34 percent over a year ago, due largely to sinkhole claims from both residential and commercial policyholders. The state-run insurer of last resort posted net income of $191.3 million for the year ended March 31, down 41 percent. Read the entire story here

A bill introduced in the Michigan House of Representatives would allow insurance companies to sell policies with maximum personal injury protection ("PIP") benefits starting at $50,000.  Michigan, currently the only state with unlimited PIP benefits, would no longer make unlimited medical payouts a PIP standard if this bill becomes law.