The Wells Fargo scandal continues to bite with 38,000 erroneous letters mailed

wells fargo scandal letter

The auto insurance scam involved selling unnecessary coverage and now includes sending letters containing mistakes. The Wells Fargo scandal that rocked the financial services company in the second half of last year just became more unpleasant. As the bank attempts to recover from the latest damage to its reputation in which auto loan customers were sold insurance policies they didn’t need, they’ve now made another mistake they didn’t need. The bank accidentally sent out letters about the auto insurance scam containing erroneous information. The Wells Fargo scandal involved requiring car…

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California earthquake insurance sales skyrocketed last year

Los Angeles California Earthquake Insurance

Californians have been warned for many years, but 2017 seemed to be the year to take action. Scientists have been cautioning homeowners to buy California earthquake insurance for decades. They have been warning that there is a major tremor overdue in the state. However, many Californians have balked at the thought of buying, afraid premiums would be too high. California earthquake insurance, despite the threat of a serious potential quake, has been a very tough sell for insurers and agents. Only about 10 percent of households in the state had…

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Michigan auto insurance rates are highest of any U.S. state

Michigan Auto Insurance rates

Newly released survey results show that drivers in the state aren’t wrong about how much they’ve been paying. It shouldn’t come as much of a surprise to know that Michigan auto insurance rates are high. Drivers in the state have been complaining about their premiums for years and lawmakers have made several attempts to alter this situation. A recent survey has confirmed yet again that Michigan drivers are indeed paying more than any other state. The survey confirmed that Michigan auto insurance rates are in fact the highest, on average,…

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Minnesota and New York file Trump administration lawsuit over health care funding cuts

Minnesota Health Insurance Trump Administration Lawsuit

The states have sued the administration for having slashed federal funding for their low-income populations. The state of Minnesota has filed a new Trump administration lawsuit, challenging the decision to cut federal funding for the state’s public health care program. The program is designed to assist those who are employed but who remain below the poverty line. Attorney General Lori Swanson first announced the legal action at the end of last week. The purpose of Minnesota’s Trump administration lawsuit is to stop the federal government for being able to put…

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Congressional Budget Office predicts $800 million bill for 5 years of CHIP

Congressional Budget Office CHIP

The Children’s Health Insurance Program covers almost 9 million low income kids in the country. The Congressional Budget Office released a prediction from its analysts that the Children’s Health Insurance Program (CHIP) will cost $800 million for a 5 year renewal. This total could help lawmakers to overcome one of the main challenges to the program’s renewal. Some states risk running out of funding for their kids’ coverage as soon as the close of this month. Prior analyst estimates suggested the cost of renewing CHIP would be closer to $8.2…

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Cat and dog obesity rate rises for seventh consecutive year

english bulldog dog obesity pet insurance

As pets become increasingly overweight, insurance claims connected to excess weight keep climbing. Among humans, one of the most common New Year’s resolutions is weight loss, but the new cat and dog obesity rates should likely have pet owners doing the same for their furry family members. For the seventh straight year, the obesity rates among our most beloved pets are on the rise. Cat and dog obesity isn’t just a matter of the way they look. As is the case with people, obesity places them at risk of a…

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Not every health insurance exchange deadline has passed

health insurance exchange deadlines for rate filings

Last Friday was the official deadline for ACA enrollment but some states have issued extensions. Americans rushed to their state health insurance exchange to beat the enrollment deadline last Friday. That said, the Trump administration and some state exchanges have announced an extension of the deadline for certain individuals. This makes it possible for more Americans to obtain the coverage they need in time for the start of 2018. When Americans phoned the HealthCare.gov service center as of Saturday morning, they were greeted by a recorded message meant to assuage…

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California wildfire loss totals grow among insurance companies

forest fire California wildfire loss

Nationwide has already revealed that it expects to face a loss greater than $1.3 billion from the state’s fires. Nationwide Insurance has announced that it predicts its California wildfire loss will be more than $1.3 billion. Blazes ripped through the state in October and another sparked near Los Angeles, forcing evacuations in Ventura County as the fires reach the Pacific Ocean. The Tubbs wildfire alone generated a loss of what is expected to be about $1.2 billion, with other fires adding. That California wildfire loss only grew with the Atlas…

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Canadian auto insurance fraud is racking up a massive $2 billion annual bill

auto insurance fraud

According to a recent report, many Canadians are regularly scamming their insurers, forcing premiums up. A new Aviva Canada report revealed an auto insurance fraud trend costing insurers $2 billion every year. This added expense to insurers is leading them to increase premiums to compensate for the fraudulent claims payments. Drivers across the country are being forced to pay for an incredible $2 billion in added fraudulent expenses. The Aviva Canada report was published under the title “Crash, Cash and Backlash: Aviva Fraud Report 2017.” It pointed out that honest…

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Black Friday insurance coverage takes many forms this year

Black friday insurance

While consumers shuffle their way through crowded stores and pick up extra purchases online, coverage is key. Among the preparations shoppers are making to ensure they get the best deal, adequate Black Friday insurance coverage is also vital. Before heading out to pick up the top tech gifts of 2017 there are several forms of insurance coverage that may be needed. The odds are that most consumers have policies in place, but the key is in reviewing and updating them. After all, when shoppers are out in crowded parking lots…

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