Mercury updates Flume Water Monitor partnership to support home insurance policyholders

Home Insurance - House leaks - partnership

The insurer hopes the collaboration will help customers to decrease the risk of water leaks US insurer Mercury has announced that it is keeping up its partnership with Flume Water Monitor to support its home insurance policyholders. This announcement was made during Fix a Leak Week Flume Water Monitor, a leading smart water loss prevention tech company, offered additional savings to Mercury’s home insurance customers throughout that week. Policyholders were offered Flume at a discount of 25 percent off. Moreover, in certain qualifying states, the insurer also gave discounts on…

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Unraveling Florida’s Insurance Exodus: Weather or More?

florida insurance

Florida, a state synonymous with sun-kissed beaches and, unfortunately, hurricanes, is caught in a whirlwind of an insurance crisis. Insurance companies seem to be abandoning ship despite a 2023 mild hurricane season. The exodus begs the question: What’s really prompting these insurers to run for the hills? Weather Warnings vs. Reality The threat of hurricanes has long cast a shadow over the sunshine state, prompting persistent fears that insurers are dwindling due to natural disasters. And indeed, the increased risk of such events has influenced insurers’ decisions. But to attribute…

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State Farm announces new insurance company CEO

Insurance Company - Jon Farney Elected as State Farm CEO effective June 1, 2024 - Image Source - State Farm Insurance YouTube

The company’s current president Jon Farney will take on the role of Chief Executive Officer Jon Farney, current President of the State Farm insurance company has now been named the next Chief Executive Officer by the State Farm Mutual Board of Directors Farney will officially start as CEO on June 1 Retiring State Farm CEO Michael Tipsord made the official announcement of Farney’s new position at the insurance company.  In his announcement, he detailed his lengthy professional relationship with Farney and underscored the care Farney has shown for the insurer…

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California’s Insurer of Last Resort on the Brink Amid Wildfire Crisis

california fair plan

Catastrophic Wildfires Upend Insurance Landscapes The California Fair Access to Insurance Requirements (FAIR) Plan, established as a safety net for homeowners in high-risk fire zones, faces an unprecedented threat of insolvency amid a flurry of catastrophic wildfires and increasing claims. This predicament has sparked intense scrutiny and discussions on sustainable insurance strategies while leaving many to wonder about the future of fire insurance availability in the state. The Increasing Burden on California FAIR Plan With an exodus of insurers from California’s market, the FAIR Plan has swelled to double its…

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Many health insurance plans still won’t cover Wegovy despite new approval

Health insurance - RX Meds Denied

Even though the drug has received approval for heart wellness use, not just weight loss, it’s frequently not covered. In the United States, Wegovy was previously only approved for use as a weight loss drug and was commonly not covered by health insurance plans.  Now, the headline-making drug has also been approved in the country for heart health, but this isn’t expected to broaden availability for its coverage. The Novo Nordisk drug is taken by injection on a weekly basis As a prescription weight loss drug – one of only…

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