Commissioner Ricardo requires more commercial property insurance from FAIR

Commercial property insurance - Business property insurance

The California plan has been ordered to include increases to the decades-old business coverage limits. California Commissioner Ricardo Lara has announced that his office has ordered that the FAIR Plan must incorporate his mandated increases to the limits to commercial property insurance. The commissioner made the order to boost the coverage limits to better support Californian businesses. Lara announced that the commercial property insurance changes were meant to support businesses in California. “My order is part of an ongoing commitment to helping businesses in California thrive as our economy recovers…

Read More

Getting Rid Of PMI: How To Do It

Private Mortgage Insurance

Private mortgage insurance (PMI) helped a record-high two million low-downpayment borrowers secure mortgage financing in 2020, a 53% jump from 2019, Housing Wire reports. It’s generally required if you’re unable to make a minimum down payment of 20% and ranges between 0.5%-2% of the loan total. Fortunately, however, you’re not locked into paying PMI (which can be hundreds of dollars each month) for the entire life of your loan and have several options for getting rid of it. Wait for automatic cancellation  Under the Homeowners Protection Act, PMI should automatically…

Read More

Top 5 Reasons To Consider Hotshot Trucking Over On-The-Road Trucking

Hotshot Trucking

Since getting into the trucking business is a big challenge, making a whole business plan, paying the cost of establishing the business, buying vehicles, and going through a long process of fulfilling legal requirements, many staters find an alternative to get into this profitable industry.  The trucking business is nearly contributing to almost half of the entire US economy. Every truck driver is making a handsome income. Those who cannot run their own business are considering the merits of hotshot trucking. What Is A Hotshot Trucker? If you have never…

Read More

Mercury Arizona home insurance adding new coverage and discounts

Arizona home insurance

The added protection will include eco-friendly advantages and discounts will help reduce premiums. Mercury has announced that it is adding to its Arizona home insurance coverage and discounts available to policyholders. There will be five new coverages available to homeowners and three new types of discounts. Arizona home insurance consumers will be able to access these new coverages and discounts. New coverage provides additional protection with an option for replacement products that are environmentally friendly. The discounts are for homeowners who are already taking steps to be environmentally friendly who…

Read More

Employer-based health insurance premiums are skyrocketing

Health insurance Premiums skyrocket'

The average family is paying 47 percent more than they were a decade ago, outpacing inflation and wage growth. Americans who receive their health insurance through their employers are paying substantially higher premiums in 2021 than they were in 2011, according to a new Kaiser Family Foundation report. Employer-sponsored health insurance has seen a 47 percent rise in premiums, said the report. This health insurance premium rise has been moving faster than wage growth (31 percent) and inflation (23 percent) that took place during that same decade. This year, annual…

Read More

Allianz becomes China’s first fully foreign-owned life insurance company

Life insurance - Allianz

The insurer created a joint venture that has become the first to receive approval of this nature. Allianz has announced that its Chinese life insurance company has received the necessary regulatory approval for becoming the first joint venture-created foreign-owned life insurer in the country. The sheer size of the Chinese market has made it an exceptionally appealing one to foreign insurers. Many financial institutions from countries around the world have been seeking to grow their presences within China. They are looking to enter or broaden their presence in the country’s…

Read More

Local governments are paying more for cyber insurance but getting less

Cyber Insurance - Business

A growing number of governments are purchasing the coverage due to the rapidly increasing risk. Though more local governments than ever are now covered by cyber insurance due to the rising risk of cyberattacks and ransomware, the trend is headed in a direction of increased rates for decreasing coverage. Higher premiums, deductibles and security protocol scrutiny are coming with the rising risks. As a result, it is becoming more expensive for municipal governments to be able to obtain cyber insurance against these types of digital attacks. The cost of premiums…

Read More