Live Insurance News

Nevada holds public webinar to address high auto insurance rates

November 6, 2023November 3, 2023 Marc

The state scheduled the webinar to be open to the public to address rapidly rising premiums. The Nevada Division of Insurance recently held a live webinar to provide the public with an opportunity to discuss the rising cost of auto insurance in the state. The event on the subject was held on November 1 and ran from 10:00 am through until 11:30 am. The webinar was meant to address the rapidly rising auto insurance rates in the state, which have been climbing as has been the case across the country.…

No-fault auto insurance overhaul bill passes Michigan Senate

October 24, 2023October 23, 2023 H. Cutner

Auto insurance - No Fault - Car accident

The state’s Legislature held its first vote to modify the system near the end of last week. The Michigan Legislature voted on a bill to modify the no-fault auto insurance system in the state, approving changes meant to reduce the cost of coverage for drivers while overcoming some of the challenges left behind by the overhaul made in 2019. The 2019 changes cause certain medical providers to stop providing care to car crash victims. The new legislation voted on last week passed the Senate. It was meant to boost reimbursement…

Israeli airlines gets $6 billion war insurance coverage from Israel’s government

October 19, 2023October 18, 2023 Nordstrom

The country’s parliamentary finance committee has given the nod to covering the policy. The parliamentary finance committee of Israel has green lighted a strategy to offer a $6 billion state guarantee to cover war insurance against risks to Israeli airlines, said the country’s Finance Ministry. This plan will help to make certain that airlines in the country will have financial protection. The guarantee framework will make it possible for Israeli airlines to obtain war insurance policies against such risks. In this way, the goal is to keep up regular flights…

Would sending Floridians cash help them to afford home insurance?

September 29, 2023September 28, 2023 G. Turner

One lawmaker wants to direct the state’s $10 billion budget surplus to that specific cause. As Florida continues to struggle to find a way to slow the rising cost of home insurance, one lawmaker from Palm Beach County has suggested that it’s time to offer Floridians money to help them to keep up. House Bill 41 has been introduced for the upcoming legislative session in the state. “Right now, we have to focus on real solutions,” said Rep. Jervonte Edmonds (D-West Palm Beach). Edmonds introduced House Bill 41 for the…

California legislators fail to repair home insurance market before end of session

September 21, 2023September 21, 2023 Nordstrom

Home insurance - Failure and frustration

Though several deals arrived at the last moment, none of them included the sought-after proposal. Even as a slew of deals appeared at the last moment ahead of the close of California’s legislative session, none were the home insurance market fix many were waiting for to help keep insurers in the state despite the rapidly climbing wildfire risks. The key deadline came and went without a bill that would help to stave off a crisis in the state. As a new home insurance bill didn’t appear in the last session,…