Latest Insurance News Articles Archives

Why New Insurance Rules Could Make Weight Loss Treatments Harder to Access

December 31, 2024December 30, 2024 Nordstrom

Independence Blue Cross Restricts Weight Loss Drug Coverage Starting January 1, 2025, Independence Blue Cross (IBX), the largest health insurer in southeastern Pennsylvania, will no longer cover certain weight loss medications, including GLP-1 receptor agonists like Wegovy and Ozempic, when prescribed solely for managing weight. The company will continue covering these medications for individuals with FDA-approved conditions such as Type 2 diabetes or cardiovascular disease. This change impacts both group and individual commercial plan holders, shifting the full cost of these drugs—ranging from $700 to $1,350 per month—to patients who…

California Insurance Companies Pull Out, But This Rule Could Bring Them Back

December 31, 2024December 30, 2024 Live Insurance News

California’s New Rules to Tackle Home Insurance Crisis with Reinsurance Costs California has unveiled a new regulation allowing home insurers to charge higher premiums to cover reinsurance costs. This decision, led by Insurance Commissioner Ricardo Lara, marks the latest step by the state to address its home insurance crisis, as insurers withdraw from high-risk wildfire areas. Here’s what you need to know about the changes and how they could reshape the state’s insurance market. What the New Reinsurance Regulation Means For the first time in California, insurers can factor reinsurance…

Why Your Dishwasher’s Struggles Could Be a Red Flag for Rising Home Insurance Costs

December 30, 2024December 29, 2024 Ryan Cox

From Appliances to Insurance Rates—What Harmonic Distortion Means for Your Home Imagine paying higher energy bills because your refrigerator is working overtime, or worse, dealing with an electrical fire caused by chaotic energy surges in your home. Harmonic distortion, an often-overlooked electrical problem, is becoming a growing concern for households across the U.S. It’s not just your appliances and safety at risk—this issue could also affect your insurance premiums. Are insurance companies already factoring harmonic distortion into their calculations, or is this yet another issue that will drive rates up…

38% of Americans Are Making This #1 Financial Move in 2025 – Are You?

December 30, 2024December 29, 2024 H. Cutner

Americans Prioritize Financial Stability for 2025, Study Finds A recent study from Allianz Life Insurance Company reveals a growing trend among Americans—financial stability is becoming a top New Year’s resolution. With rising living costs and increasing financial pressures, this shift highlights the urgent need for better money management strategies. The study, titled the 2025 New Year’s Resolutions Study, examined financial attitudes and habits across various demographics, uncovering critical insights into how Americans are adapting to economic challenges. Financial Stability Tops the List Financial stability stood out as the No. 1…

Unveiling the Housing Crisis – Where Homeowners Are Losing Insurance at Alarming Rates

December 29, 2024December 28, 2024 Logan B.

home insurance - Non-Renewals and where are the most in the US

Climate Change Sparks Surge in Dropped Home Insurance Policies The United States faces a quiet yet profound crisis as climate-related disasters reshape the home insurance market. According to a recent congressional investigation, more than 1.9 million home insurance contracts nationwide have been dropped by insurers since 2018. The practice of “nonrenewal” has surged, putting countless American homeowners in precarious positions. This shift has far-reaching consequences for mortgages, property values, and entire communities. Rising Non-renewals Expose the Insurance Housing Crisis Once considered a steady and predictable industry, the U.S. home insurance…