Author: Marc

State Farm aims to improve the use of child safety seats and seatbelts

Marc
Child safety seats - Child in safety seat

Nearly three quarters of babies and kids aren’t traveling with the appropriate restraints. State Farm has issued an insurance news release pointing out that most child safety seats are not being properly used and that seatbelts are still not being worn enough despite the fact that they save lives. The insurance company was pointing to Safe Kids Worldwide data about auto restraints for kids. That data showed that 73 percent of child safety seats and boosters aren’t correctly used in at least one – but often several – ways. Moreover,…

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Florida homeowners’ insurance inspections from Citizens soon to explode

Marc
Florida homeowners insurance inspection

The property insurer of last resort plans to make substantial eligibility and underwriting changes too. Florida homeowners’ insurance company of last resort, Citizens, has announced that it is likely to substantially increase its property inspections over the next four years in an effort to reduce its exploding exposure level. The company wants to trim back the number of policyholders it is carrying across the state. Citizens is expanding its effort to reduce its Florida homeowners’ insurance exposure while it hacks back the number of properties it is covering. It intends…

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California auto insurance claims 40 percent higher than pre-pandemic

Marc
California Auto insurance - California sign

Mercury Insurance has reported the spike in its comprehensive car claims compared to pre-COVID-19. Comprehensive California auto insurance claims have taken off after a lull during the worst of the pandemic and have reached a point considerably higher than pre-COVID-19 levels. Vandals and thieves have been particularly active in recent months, driving claim numbers skywards. Mercury Insurance has observed this massive growth in California auto insurance claims when compared to pre-pandemic levels. Though the increase in vandalism and theft started with the lockdowns, they have grown even higher following the…

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Mercury adds MercuryGO to Arizona auto insurance products

Marc
Arizona auto insurance - Arizona pinpointed on a map

The insurer has been expanding its usage-based coverage app to let good driving habits lead to savings. Mercury has announced that it is taking its next steps into new states with its MercuryGO app, bringing it into the Arizona auto insurance market. The idea behind the app is to let a driver’s safe behaviors behind the wheel generate discounts. That said, beyond rewarding good drivers with lower Arizona auto insurance premiums, it also provides additional features. Those features are meant to help boost driver awareness of safer habits to help…

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New NFIP rating system has now taken effect

Marc
NFIP - calculations

The National Flood Insurance Program’s newest changes started on October 1. The changes made to the rating system for the National Flood Insurance Program (NFIP) went into effect as of October 1, as the Federal Emergency Management Agency (FEMA) implemented its Risk Rate 2.0. At the start of this month, the premiums paid by policyholders in this program start being impacted. The precise change in NFIP premiums under the new Risk Rate 2.0 depends on many factors. According to FEMA reports, there are several changes made to premiums calculations that…

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Amazon to sell business insurance in the United Kingdom

Marc
Business insurance - Amazon

The marketplace has announced its intentions to begin selling to small- and medium-sized companies. Amazon.com Inc. has announced that it will begin selling business insurance to small- and medium-sized companies in the United Kingdom. This represents the first step the tech giant has taken into that market in the UK. The business insurance coverage will become available to members of Amazon’s Business Prime program. Those members will be able to purchase policies from Superscript that will include coverage such as contents, professional indemnity, and cyber. According to a spokesperson from…

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Mississippi Senator Pushes for One Year National Flood Insurance Program Extension

Marc
National Flood Insurance Program - home floating on life saver

Sen. Cindy Hyde-Smith is seeking legislation to extend NFIP for another year beyond September 30. The National Flood Insurance Program (NFIP) is approaching its expiry date on September 30, but Mississippi Senator Cindy Hyde-Smith is pushing for legislation that will provide another year’s extension. Over five million American families and businesses rely on NFIP protection, many of which are in the state. More than 60 thousand people in Senator Hyde-Smith’s home state depend on National Flood Insurance Program coverage. The senator is one of the NFIP Extension Act of 2021…

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