Congressional reps from the Bay Area are seeking to draw insurers with legislation changes Congressional representatives in California’s Bay Area are working on legislation that they hope will appeal to home insurance companies and bring them back into the state. California has been bleeding property insurers The new legislation could help insurance companies to decrease their losses by providing property owners with financial incentives to better their emergency preparedness. Though this might not stop some of the major threats to the area, such as wildfires, it could be beneficial in…
Read MoreThousands of Florida insurance customers lose their home policies
Just ahead of the Atlantic hurricane season, homeowners are being dropped by their insurers As Atlantic hurricane season approaches, thousands of homeowners have found that their Florida insurance companies are dropping them, as they started receiving letters of non-renewal. ASI-Progressive has been issuing the letters Now, ahead of one of the most high-risk times of the year, Florida insurance customers are being left to look for replacement coverage in time to ensure they won’t be left without a policy. ASI-Progressive made an announcement last year that it intended to drop…
Read MoreUnveiling the Dark Side of Life Insurance Through the STOLI Scheme Controversy
The recent lawsuit emerging from Delaware, reported by the Miami Herald, has thrown a spotlight on a somewhat obscure, yet profoundly concerning practice within the insurance industry—Stranger-Originated Life Insurance (STOLI) schemes. At the heart of this controversy is the estate of Martha Barotz, a retired woman in her early 70s, who became an unintended central figure in what appears to be financial exploitation targeting senior citizens. The Legal Implications of STOLI Schemes STOLI arrangements operate in a legal grey area, where investors, lacking any logical insurable interest, gamble on the…
Read MoreKaiser Permanente notifying health insurance customers of data breach
Millions of people had their data accessed after patient information was shared with advertisers US health insurance giant Kaiser is notifying millions of customers – both current and former – that it experienced a data breach when it shared patient information with third-party advertisers such as Microsoft, Google, and X (formerly known as Twitter). Members and former members will learn the results of an investigation Kaiser has stated that it conducted an investigation that determined that “certain online technologies” that already existed on both the conglomerate’s websites and mobile applications…
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