Latest Insurance News Articles Archives

Skepticism Abounds as Florida Welcomes New Property Insurance Companies

April 9, 2024April 8, 2024 Angela Linders

Eight New Florida Property Insurance Companies Amid Market Shakeup In a concerted effort to inject stability into Florida’s property insurance market, a fleet of eight new insurance companies has embarked on a mission to provide a reprieve from the soaring premiums and to fill the void left by the withdrawal of large national insurers. This proactive stance comes in the wake of an alarming 68% surge in home insurance premiums recorded between May 2021 and May 2023, positioning Florida at the pinnacle of the US in terms of homeowners’ coverage…

Wisconsin governor signs workers compensation bill into law

April 9, 2024April 8, 2024 H. Cutner

Governor Tony Evers signed Assembly Bill 1073 to make it 2023 Wisconsin Act 213. Wisconsin Governor Tony Evers signed Assembly Bill 1073 regarding improvements to workers compensation in the state, making it 2023 Wisconsin Act 213. The changes were made based on recommendations by the WCAC The Workers Compensation Advisory Council (WCAC) made recommendations for the changes to the state system, and these helped to guide the creation of the bill. Governor Evers signed the bill at the State Capitol in his office, in the presence of voting WCAC members,…

GEICO Offers New Discounts Amid Rising Auto Insurance Rates

April 8, 2024April 7, 2024 Angela Linders

In a bold move to capitalize on increasing auto insurance rates across states such as California, GEICO Corp., part of Warren Buffet’s empire, is offering an attractive discount initiative, the “Welcome Factor,” aimed at expanding its auto insurance business. GEICO’s Fresh Approach to Auto Insurance With the surge in insurance rates, many insurers are taking a step back from writing new policies. However, GEICO is actively inviting new clients by marketing a special discount for those who apply for personal auto insurance. The discount is designed to taper off gradually…

Colorado Gun Insurance Bill Moves Forward Amid Diverse Opinions

April 8, 2024April 7, 2024 G. Turner

In a move sparking extensive debate, Colorado’s state legislature is advancing House Bill 24-1270, which mandates liability insurance for firearm owners. Cleared by the Business Affairs and Labor Committee with a vote of 6-5 — as Denver7 reported — the bill propels Colorado into a heated national conversation on gun rights and responsibilities. Key Elements of the Proposed Gun Insurance Legislation The bill stipulates that gun owners must secure insurance coverage for losses or damages incurred due to accidental firearm discharge on their property. Specifically, the policy must cover injuries…

Biden limits Trump era “junk” short-term health insurance plans

April 5, 2024April 4, 2024 Nordstrom

Short-term Health insurance - Reducing health costs - American Flag

The goal is to reduce the sale and use of the plans that can leave policyholders footing huge bills. The Biden administration is working on rolling back the short-term health insurance plans that rolled out during the Trump administration. The purpose is to shrink the use of these “junk” plans that leave patients at risk of paying large medical bills out of their own pockets. The new rule was first proposed in the summer of 2023 This new strategy is a part of a broader effort to reduce the cost…