Allstate aims to raise insurance premiums in Georgia

Commercial Insurance rates

Allstate bypasses rate proposal process to increase premiums Allstate customers in Georgia may see their  insurance premiums spike, according to the Georgia Department of Insurance. The insurance company is planning to implement rate increases on some policies, with premiums rising by as much as 58.3%. According to Insurance Commissioner Ralph Hudgens, this is the first time he has seen such a rate hike. Moreover, the proposed rate hike has not been approved by the Department of Insurance. Insurance Commissioner claims Allstate bypassing the proposal process is unfair Hudgens notes that…

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Insurance fraud warning issued in Georgia

California Insurance company Fraud scam

Insurance Commissioner issues a warning concerning insurance fraud Georgia’s Insurance Commissioner, Ralph Hudgens, has issued a warning to consumers regarding insurance fraud. The insurance industry has been dealing with fraud for nearly as long as it has existed, but new threats are beginning to emerge in the digital world that the industry may not be prepared to deal with effectively. Conventional methods of fraud are also becoming more resilient to the measures that the insurance industry is taking to thwart them. Consumers are receiving calls from fraudulent representatives of life…

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Tornadoes in Georgia cause $6 million in losses for the homeowners insurance sector

Tornado damage homeowners insurance

Several tornadoes have struck Georgia, causing significant damage in some parts of the state Six tornadoes struck Georgia early last week, five of which hit the metro Atlanta area. These tornadoes generated thousands of homeowners insurance claims and insurance adjusters were deployed to the affected areas in order to help assess t he damage that was caused. According to Insurance Commissioner Ralph Hudgens, more than $6 million in insured losses were caused by the six tornadoes. Most of the damage caused by these disasters was to homes and vehicles. Homeowners…

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Homeowners insurance advice issued in Georgia following powerful storms

Georgia Homeowners Insurance

Insurance Commissioner Hudgens provides some advice to homeowners in the state Georgia is no stranger to natural disasters, but many of its residents may not know how to handle their insurance companies in the wake of a severe storm. Several powerful storms have tore through the state in recent weeks, highlighting a lack of awareness concerning certain insurance issues. The state’s Insurance Commissioner, Ralph Hudgens, has provided some recommendations for those that have had their properties damaged by recent storms. Getting in contact with an insurance agent and documenting damage…

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Insurance claims pour in as snow falls in Georgia

snow insurance claims

Polar vortex sends snow to Georgia, causing serious damage to insured property and vehicles Georgia became a victim of unexpected snow storms recently. The state is unaccustomed to experiencing such events and, as such, the snow caused a great deal of damage to homes and vehicles. The snow storms that Georgia has been experiencing are linked to the so called polar vortex phenomenon that has cause temperatures to plummet throughout the U.S. States that typically experience very mild winter seasons have seen heavy snowfall as a result of the polar…

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Aetna backs out of Georgia health insurance exchange

Georgia Health Insurance exchange

Aetna and Coventry pull out of state health insurance exchange Aetna, one of the largest health insurance providers in the U.S., has dropped out of Georgia’s health insurance exchange. The insurer is also taking its recently acquired subsidiary, Coventry, out of the state’s insurance exchange as well. With the two companies leaving the exchange, five insurers remain to offer coverage through the state’s exchange program. While the insurers will not be participating in the exchange, they will still be offering coverage beyond the confines of the program. Federal law seeds…

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