Live Insurance News

California FAIR Plan Lawsuit Sparks Debate Over Market Stability

June 26, 2025June 26, 2025 Ester Adams

California’s Insurance Market Faces Legal and Financial Turmoil The California insurance market is in the spotlight again. This time, it’s a legal battle that could shake the already fragile system to its core. The California Department of Insurance has filed a demurrer in Los Angeles Superior Court, asking a judge to dismiss a lawsuit brought by Consumer Watchdog. The stakes? The future of the FAIR Plan, California’s last-resort insurance option for homeowners. What’s the Lawsuit About? Consumer Watchdog’s lawsuit challenges the way the FAIR Plan recovers costs. The group claims…

What the New Insurance Law Means for Massachusetts Drivers

June 19, 2025June 18, 2025 Ester Adams

Massachusetts Drives Ahead with Updated Insurance Law Big changes are coming for Massachusetts drivers. Here’s what you need to know. Starting July 1, 2025, Massachusetts is increasing its minimum car insurance requirements. It’s a move meant to offer better protection—but it’s going to cost more. The new limits will jump to 25/50/30. That means $25,000 coverage for bodily injury per person, $50,000 for bodily injury per accident, and $30,000 for property damage. Compare that to the old limits—20/40/5—and you’ll see why this matters. The goal is simple. Better financial safety…

$600 Million Settlement in Ohio Train Derailment Shines a Spotlight on Liability Insurance

April 28, 2025April 28, 2025 Ester Adams

The Price of Accountability and Insurance Adjustments When a Norfolk Southern freight train derailed in East Palestine, Ohio, on February 3, 2023, it set off more than environmental and community alarms. Behind the scenes, the insurance world braced for shockwaves. With the derailment spewing hazardous vinyl chloride and a controversial “vent-and-burn” operation intensifying damages, the case has concluded in a staggering $600 million settlement. The aftershocks of this legal outcome, however, are perhaps even more striking in corporate liability insurance circles. The settlement has put Norfolk Southern squarely on the…

Obesity Crisis Meets Policy Standstill as Trump Halts Medicare Expansion

April 7, 2025April 6, 2025 Ester Adams

Medicare’s role in weight-loss drug coverage

Trump Administration Reverses Plans to Expand Medicare Coverage for Obesity Drugs The Trump administration has officially halted a Biden-era initiative that aimed to extend Medicare and Medicaid coverage to include obesity drugs, a move set to impact millions of Americans coping with obesity, disproportionately affecting seniors and lower-income groups. While supporters saw the proposed expansion as a progressive step towards tackling one of the nation’s most pressing health challenges, critics have raised concerns over the potential cost burden. Below, we untangle the implications of this decision, exploring its economic, medical,…

The Intersection of Mortgage Insurance and Property Insurance in Today’s Housing Market

March 15, 2025March 12, 2025 Ester Adams

Understanding Mortgage Insurance and Property Insurance If you’ve purchased a home or plan to, understanding the different types of insurance tied to it is crucial. Two key types are mortgage insurance and property insurance, but they serve very different purposes. Mortgage insurance protects lenders in case a borrower defaults on their home loan. It’s usually required when the down payment is less than 20%. The cost of mortgage insurance is based on the value of the property. For example, a more expensive home will generally result in higher mortgage insurance…

State Farm’s Financial Challenges Leave California Homeowners in Limbo

March 3, 2025March 3, 2025 Ester Adams

State Farm, the largest property insurance provider in California, is dealing with financial instability after a series of devastating wildfires. This turmoil has placed homeowners across the state in a precarious position, as discussions between the insurer and state regulators continue with no resolution yet in sight. Wildfire Losses Plunge State Farm Into Financial Uncertainty The Los Angeles fires, which ravaged neighborhoods earlier this year, have dealt a heavy financial blow to insurers, with State Farm bearing the brunt of the damage. The company’s homeowner claims have surged to a…

Rising Car Insurance Rates in 2025: Why Wisconsin Is Bucking the Trend

February 10, 2025February 10, 2025 Ester Adams

Car insurance rates are climbing steadily across the United States, with most policyholders seeing their premiums rise again in 2025. While this trend isn’t new—rates have been increasing since 2022—Wisconsin drivers may find some relief compared to the rest of the nation. A recent study by insurance platform Insurify predicts that Wisconsin’s rate hike will be significantly smaller than most states, offering residents a bit of a silver lining amidst this nationwide trend. Wisconsin Car Insurance Rates vs. the National Average According to Insurify’s projections, the average annual cost of…