Citizens’ home insurance changes get the nod from Florida lawmakers

Home insurance - Green light - approval

Both the House and the Senate have given the green light to a bill about insuring second homes As Florida continues to seek new ways to unload policies from its home insurance company of last resort, Citizens Property, the House gave its approval to a bill that could shift some second homes off the insurer and into the private coverage market. The Senate already gave its approval to the bill HB 1503 was passed unanimously by the Florida House after it had already received the Senate’s approval. Its next stop…

Read More

Florida motorcycle insurance gains new pay-per-mile player

Motorcycle insurance - Motorcycle on road - Florida flag

The state’s riders now have the added option that Voom has included in their available products Riders in Florida have an additional motorcycle insurance option from which to choose for meeting their coverage needs as Voom Insurance recently announced that it was bringing its pay-per-mile policies to the state. This makes the insurer the only one in Florida selling this type of product Usage-based coverage is available within the state’s automotive market, but this option has been focused entirely on larger vehicles such as cars, SUVs and trucks. The new…

Read More

PGA seeks health insurance plan funding for producers

Health insurance Funds - Director clip board and movie stuff

The Producers Guild of America is making the request to the industry. The Producers Guild of America (PGA) reached out to the industry earlier this month to request funding for health insurance coverage for the working producers in Hollywood. The PGA used its annual awards ceremony as its platform to reach the industry The PGA was speaking to streamers, studios, and other content companies at a large scale for their assistance in providing funding for health insurance for “qualified producers” through the line items of production budgets for movies and…

Read More

Health insurance companies can’t use AI for Medicare

Health insurance - Medicare and AI

Newly released federal guidelines say that artificial intelligence can’t make all the choices. The Centers for Medicare and Medicaid Services (CMS) have released new guidance for health insurance companies to protect Medicare Advantage (MA) against bias from artificial intelligence (AI). The CMS is the federal agency overseeing Medicaid, Medicare and other programs CMS oversees the Children’s Health Insurance Program (CHIP), the Health Insurance Marketplace, Medicare and Medicaid. It recently issued a policy memo to insurers in which it banned them from using algorithmic systems or AI exclusively to decide on…

Read More

Allstate Changes Down Payment After Insurance Settlement

allstate downpayment reinstated

Allstate, the insurance giant based in Northbrook, Illinois, has made a significant change to its down payment policy for new auto insurance policies. The move comes after a settlement with the California Department of Insurance regarding the insurer’s rate increase application. The Former Down Payment Restriction In July 2022, Allstate began requiring consumers to pay a 50% down payment on new auto policies. This policy represented a substantial upfront cost for consumers, given that the average annual cost for car insurance in California ranges from $1,500 to $1,999, according to…

Read More