Author: Live Insurance News

Do You Require Commercial Truck Insurance?

Live Insurance News
commercial truck insurance

Large vehicles, such as trucks, used for company operations are expressly covered by commercial truck insurance. Tractor-trailers and other commercial truck kinds like the following are included in this: Trucks that haul trash Delivery vans Mixers for cement Tow vehicles Additional commercial vehicles In general, vehicle insurance with a focus on transportation companies and commercial truck drivers is known as commercial truck insurance. Various insurance may be required, depending on the kind of business you operate, to cover all potential responsibilities both legally and financially. Generally, commercial truck insurance covers…

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Innovative Food Truck Launches “Seagull Insurance” on Isle of Man

Live Insurance News
"Seagull Insurance" on Isle of Man

In a quirky insurance news twist, Hawkins BBQ, a popular food truck on the Isle of Man, has introduced “seagull insurance” to protect its customers from a particularly pesky problem—theft by herring gulls. Birds swooping in to snatch snacks have become a frequent issue at the coastal pop-ups, sometimes occurring up to three times a week. A Unique Solution Co-owner Charlotte Smith revealed that the introduction of the £1 daily insurance policy aims to ensure that customers can enjoy their meals without fear of losing them to opportunistic seabirds. “We…

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California Insurance Crisis Fuels Unprecedented Rent Hikes for Tenants

Live Insurance News
Unprecedented Rent Hikes for Tenants

Navigating the Soaring Rents in California: The Role of Rising Renters Insurance and Landlord Costs In recent months, California has witnessed an unprecedented surge in rental prices, leaving both tenants and landlords holding the financial ball. The confluence of rising renters insurance and landlords’ increasing expenses is exacerbating the situation, creating a complex web of economic strain across the state’s rental market landscape. Surging Rental Prices in California Rental prices in California have reached record highs, with cities such as San Francisco and Los Angeles topping the charts for the…

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The Rising Tide of Uninsured Americans and the Looming Threat of ACA Subsidies Ending in 2026

Live Insurance News
The Rising Tide of Uninsured Americans and the Looming Threat of ACA Subsidies Ending in 2026

Uninsured Americans Rise to 27.1 Million in Early 2024, CDC Reports The latest figures from the Centers for Disease Control and Prevention (CDC) are sounding alarms across the healthcare landscape. More than 8% of Americans were uninsured during the first months of 2024, a significant uptick from the record-low uninsured rates observed in the wake of the COVID-19 pandemic. According to the CDC’s National Health Interview Survey, an estimated 27.1 million Americans of all ages lacked health insurance by March 2024. This marks an increase of 3.4 million uninsured individuals…

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California Insurance Commissioner Announces Game-Changing FAIR Plan Reform

Live Insurance News
California insurance commissioner Ricardo Lara- State Farm rate increase hearing

LOS ANGELES — In a significant move to address California’s ongoing insurance crisis,unveiled a breakthrough agreement to modernize the California FAIR Plan Association (FAIR Plan), the state’s “insurer of last resort.” This initiative is a key component of Lara’s Sustainable Insurance Strategy, marking the largest insurance reform since Proposition 103 was passed in 1988. Modernizing the FAIR Plan “Modernizing the FAIR Plan is a crucial step in our strategy to stabilize California’s insurance market,” said Commissioner Lara. “It’s critical for Californians to understand that a growing FAIR Plan contributes to…

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State Farm Seeks Major Rate Increase in California

Live Insurance News
state farm insurance news

State Farm, California’s largest insurer, is proposing sizable rate increases for its residential insurance policies in the state, potentially impacting millions of homeowners and renters. The company has filed for a 30% rate hike for its homeowners’ insurance, a 52% increase for renters, and a 36% escalation for condominium owners. This marks the third major change for State Farm in California within a year. State Farm’s Justification In a statement, State Farm indicated that these rate increases are necessary for the long-term sustainability of its California subsidiary, State Farm General.…

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State Farm Reverses California Policy Non-Renewals – With a Catch

Live Insurance News
Allstate home insurance growth and decline

State Farm, the largest insurance carrier in California, has announced a significant reversal of its earlier decision to not renew over 70,000 policies in the state, including 30,000 home insurance policies. This change comes after the company initially cited increasing wildfire risks as the primary reason for its decision back in March. However, the company’s renewed commitment comes with a notable caveat that is bound to impact policyholders significantly. State Farm Reversal and The Catch According to a statement from Sevag Sarkissian, State Farm’s California spokesperson, while the company will…

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