Agents promise auto insurance is available to Kia and Hyundai owners

Auto Insurance - Kia steering wheel

Even as some insurers refuse to cover the vehicles in various parts of the country, policies still exist. As was reported last week on Live Insurance News, State Farm and Progressive have announced that they are no longer selling auto insurance to certain models of Kia and Hyundai cars in various cities in the United States because the vehicles are too easy to steal. That said, agents in those regions are promising owners of those models that policies are still available. Kia and Hyundai owners afraid of losing their coverage…

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Louisiana home insurance special session called by Governor John Bel Edwards

Home insurance - Government

The governor is hoping this special legislative session will set the state up to overcome its crisis. Louisiana Governor John Bel Edwards has called a special session of the state Legislature to take control over the home insurance crisis. The session is slated to start on January 30 and will continue until no later than February 5. The governor’s move aligns with Insurance Commissioner Jim Donelon’s statement made to a key legislative committee last Friday, when he said that a special session will be critical to overcoming the property and…

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Louisiana faces home insurance “crisis” as more companies leave

Home insurance - Crisis - Rocks

Over 20 insurers have exited the state or have gone bankrupt within the last two years. Thousands of Louisiana residents are struggling to find affordable home insurance coverage as insurers continue to leave the state following years of catastrophic storms. The storms have been increasing in both frequency and intensity, leaving expensive damage behind. Louisiana has been the center of the destruction and devastation left behind by several major storms in recent years. As a result, the cost of doing business in the state has been skyrocketing for home insurance…

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Family goes viral with travel insurance caution following nightmare vacation

Travel insurance - Crowd Funding

A motorcycle crash in Thailand left a family crowdfunding for medical costs despite their policy. The day after Christmas, a UK man named Adam Davies was in a motorcycle accident in Thailand and, despite his travel insurance, is now facing massive medical bills due to his serious injuries including a fractured skull. Though he had a policy, the massive medical costs he incurred were not included in his coverage. When Davies consulted with his travel insurance to help pay for the hospital bills that were accumulating for his care, he…

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2022 was a big year for weird lawsuits against companies

Weird lawsuits 2022

The US Chamber of Commerce Institute for Legal Reform released a list of some of the oddest suits. With 2022 behind us, it’s a good time to look back at some of the truly weird lawsuits that were filed against companies throughout the year and that help to explain why business insurance is such an important form of coverage. Every year, the US Chamber of Commerce Institute for Legal Reform publishes a list of ridiculous filings. The 2022 list of weird lawsuits showed that last year wasn’t short on ridiculous…

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Allstate reminds consumers of the importance of identity protection during the holidays

Identity Protection - Theft

Scammers are taking aim at consumers shopping at this time of year, as well as at student loan borrowers. At this time of year, identity protection products can be particularly helpful to consumers, said a recent news release from Allstate, cautioning consumers about criminals targeting holiday shoppers and federal student loan borrowers. About a tenth of Americans have been victims of scams having to do with federal student debt forgiveness. About two in five of the student loan scam victims are contacted a minimum of once per week, according to…

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Rising number of Americans turning to their life insurance in financial uncertainty

Life insurance - Key

A growing number of people in the US are using the policies to help get through inflation. The number of Americans turning to their life insurance policies to help get through inflation and economic uncertainty without having to tap into retirement accounts already suffering from 2022’s volatility. There has been a substantial increase in Americans taking out loans or withdrawals from policies. According to Massachusetts Mutual Life Insurance Co data, last quarter showed a 31 percent year-over-year increase in the number of Americans taking out loans from or withdrawing from…

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