Another Allstate auto insurance rebate is likely to be issued to policyholders

The insurer is moving to provide drivers with further relief as the pandemic continues to slash miles. The Allstate Corp insurer will likely issue another auto insurance rebate to its policyholders as a result of decreased driving habits throughout the pandemic, said the company’s CEO Tom Wilson. This additional reduction will be meant as a reflection of the ongoing driving reduction in certain areas. Allstate announced its first auto insurance rebate wave on April 6. At that time, it was returning over $600 million in premiums to its policyholders. The…

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Workers compensation insurance market starts to feel the COVID-19 pinch

Workers Compensation insurance - Coronavirus - mask

The coronavirus is now making itself felt in this additional part of the industry. Workers compensation insurance companies are now working quickly to keep up with the sudden influx of claims resulting from the coronavirus pandemic. This has been made all the more complex as the regulatory landscape shifts throughout the country. Many states have been changing the regulations to which the workers compensation insurance companies must adhere in the face of COVID-19. For instance, the state commission for this coverage gave its unanimous approval to repeal a controversial emergency…

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State Farm pet insurance launched for dogs and cats through Trupanion

State Farm Pet Insurance - Dog and Cat

The coverage will protect animal owners against many veterinary costs for their furry family members. State Farm pet insurance has been launched through a partnership with Trupanion to provide animal owners with the opportunity to purchase medical coverage for their fuzzy friends. Dogs and cats are regularly considered to be non-human family members, but veterinary care is expensive. As Americans become increasingly attached to their pets, the world of veterinary medicine has skyrocketed forward. Animal owners demand the type of medical care they would otherwise expect for their human family…

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Missouri homeowners insurance rates rise 76 percent in ten years

Missouri homeowners insurance - coins and house

A new analysis has revealed that residents are watching premiums rise faster than most other states. Missouri homeowners insurance rates have been climbing at a faster rate than most other US states over the last ten years due to the severe weather affecting the region. A new analysis has measured the growth in rates Missourians are paying as 7th fastest in the country. The QuoteWizard analysis measured the Missouri homeowners insurance rate growth at 76 percent across the last decade. “When insurance companies take a loss, they compensate for that…

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Business interruption insurance bill moves ahead in Louisiana Senate

Business interruption insurance - Agreed

The bill is meant to provide improved transparency in regard to this commercial coverage. Louisiana’s state Senate has advanced a business interruption insurance bill to provide greater transparency with this type of coverage. Over several weeks, many companies were surprised to discover their coverage didn’t cover pandemics. Senator Rick Ward (R-Port Allen) informed his colleagues that the dismay due to the lack of transparency in business interruption insurance was all too commonplace. The bill was introduced to try to improve the clarity of a policy’s coverage. Insurers have responded by…

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Nationwide plans to keep remote insurance jobs permanently in 5 states

Remote insurance jobs - laptop on desk

The insurer has made it possible for many employees to work from home even after offices fully open. Nationwide has announced its intention to permanently transition into an operating model that functions as a hybrid between in-office and remote insurance jobs. The employees who will be heading to the office will be those at the four main corporate campuses. The insurer will keep the in-office workers primarily at its four main corporate campuses. That said, it will keep its remote insurance jobs in place for the majority of other locations.…

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Magic Johnson’s EquiTrust Life Insurance funds over $100 million in small business loans

EquiTrust Life Insurance - Magic Johnson with the US Navy

The former NBA All-Star’s insurer is focusing on supporting women- and minority-owned companies. Magic Johnson’s EquiTrust Life Insurance Co and MBE Capital Partners, a nonbank lender from New Jersey, is providing $100 million in funding for minority and women-owned companies. This is a component of the Small Business Administration’s struggling Paycheck Protection Program. According to Johnson in a Wall Street Journal interview, he heard that small businesses were having a hard time gaining access to Paycheck Protection Program (PPP) loans. One of the larger companies that was successful in obtaining…

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