Author: G. Turner

Gloria has several articles published on industry trends based on an array of different subjects but specializes within the insurance industry. She has accomplished her top goals of becoming an accredited news journalist that addresses top issues in a way that entertains as well as educates.

State Farm insurance company loses $6.3 billion in 2023

G. Turner
Insurance company - 2023 Loss

The insurer experienced a “significant” increase in catastrophic claims leading to the losses Last year, State Farm insurance company recorded a $6.3 billion net loss partially due to what the insurer called a “significant” rise in home insurance damage claim severity. As large as the loss was, it was smaller than what the insurer experienced in 2022 In 2022, the insurance company reported having lost a net $6.7 billion.  Still, when State Farm made its announcement about 2023, it confirmed that it was “financially strong”, as its auto coverage’s net…

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Illinois Residents Face New Wave of Insurance Rate Hikes

G. Turner
Illinois auto insurance rates

Major Rate Hikes by Allstate and State Farm: A Financial Challenge for Illinois Motorists and Homeowners Illinois motorists are facing a financial squall as insurance giants Allstate and State Farm implement major rate hikes, signaling a challenging period ahead for policyholders. Allstate is poised to shock the market with an abrupt 12.7% increase in homeowners’ premiums this week, and State Farm follows closely, scheduling a 12.3% climb in May, as disclosed by the Chicago Tribune. However, the strain doesn’t stop there — a staggering average rise of 28% in auto…

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Medical tourism industry suffers as health insurance companies stop paying some bills

G. Turner
Health insurance - Medical Tourism

Insurers have begun excluding certain procedures for patients out of the country. American health insurance companies have started placing a limit on the procedures they will cover for patients traveling to other countries to get them. Patients had been traveling to cities such as Tijuana to receive their medical procedures. According to the Tijuana Convention and Tourism Committee, medical tourism has plummeted as US health insurance companies have started limiting the procedures their policyholders are covered for outside the country. The new regulations implemented by the insurers are impacting both…

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Allstate and Other Insurers Seek Approval for Huge Premium Hikes in Florida

G. Turner
florida home insurance rates

Allstate, the second-largest home insurance provider in the United States according to the Insurance Information Institute (Triple-I), is known for its comprehensive coverage for homeowners across the country since 1931. However, two insurance companies, including one owned by Allstate, are currently seeking approval for significant premium increases exceeding 50% for homeowners in Florida. Castle Key Indemnity Company Proposes a 53.5% Rate Increase Castle Key Indemnity Company, an Allstate subsidiary that provides insurance for condominium owners, has proposed a substantial rate hike of 53.5%. An Allstate spokesperson confirmed to WESH 2…

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California Insurance Commissioner Lara warns consumers of flood insurance fraud

G. Turner
Flood Insurance Fraud

As San Diego County started its clean-up efforts, residents are warned of dubious companies preying on victims. Flood insurance claims are up in San Diego, where hundreds of properties and vehicles were damaged and destroyed by recent flooding, but California Insurance Commissioner Ricardo Lara has placed his department on alert for fraud and other illegal activities targeting the victims of the flooding. The Department is already receiving reports that consumers claim public adjusters have been contacting them. Immediately after the recent floods, some home and business owners say they were…

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