Michigan auto insurance coverage rate change deadline is coming

Auto insurance coverage - Michigan

State leaders are encouraging residents to do so before the amnesty period runs out and rates increase. Michigan state leaders are pushing for uninsured drivers in the state to get their auto insurance coverage fast before premiums start rising when the amnesty period expires. The amnesty period is a component of the no-fault reform legislation in the state. The new legislation became effective in July 2020. The amnesty period was put in place to provide uninsured motorists with a reprieve, giving them the chance to obtain their legally required auto…

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Many consumers still can’t afford Virginia health insurance premiums

Virginia health insurance costs

A new state Joint Commission on Heath Care report showed that silver plans remain costly. Though the American Rescue Plan has broadened subsidies and has brought plans within reach for more people through the Affordable Care Act, Virginia health insurance premiums remain high enough that many people still struggle to afford the costs. The state appears to be struggling to keep its health plan premiums under control. The state’s Joint Commission on Health Care determined that the average cost of silver Virginia health insurance plans – a mid tier level…

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Lloyd’s CEO calls climate change the insurance industry’s ‘biggest single opportunity’

Insurance industry - changing climate and weather

From global warming to flooding and extreme storms, the events are already getting started. John Neal, CEO of the world’s oldest insurance industry marketplace, Lloyd’s of London, has called climate change the “ultimate systemic risk” but also a huge opportunity for insurers. In a recent media interview, the Lloyd’s CEO compared climate change with the impact of the pandemic. At the same time that Neal called climate change a risk in the CNBC interview, he also referred to it as the “biggest single opportunity the insurance industry has ever seen.”…

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Annual workers’ compensation insurance filing gets the green light in Kentucky

Workers Compensation Insurance - Green Light - traffic light

The state DOI has announced its approval of the 2021 rate filing used for developing coverage rates. The Kentucky Department of Insurance (DOI) recently announced that it has given the nod to the 2021 rate filing applied to developing state workers compensation insurance coverage rates. The decision became effective with the start of this month. Tis represents the 16th consecutive year that there has been a drop in overall loss costs in Kentucky. For 16 years in a row, the Kentucky workers’ compensation insurance filing has revealed a reduction in…

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Health insurance benefits are keeping a third of workers from quitting

Health insurance benefits

The Policygenius annual survey found a third of employees stay put because of their coverage. In a trend being dubbed the “Great Resignation”, health insurance benefits are holding about one in three workers in their current positions. The coverage is important enough to workers that they stay where they are instead of changing workplaces. The survey showed that 33 percent of full-time and part-time workers would be very or somewhat likely to quit their current jobs soon if it wasn’t for their health insurance benefits. Furthermore, over one quarter (26…

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Kentucky health insurance marketplace brings back individual plans

Kentucky health insurance - Kentucky - American Flag - Health

State residents seeking plan options will new be able to use the state-based exchange. The Kentucky health insurance exchange has returned to allow residents of the state to be able to purchase individual plans from the state-based marketplace. Governor Andy Beshear returned the exchange to the control of the state itself. The kynect.ky.gov website is currently undergoing a review period meant to allow residents to better understand the coverage options and find the ones best suited to their needs. This way, they will have the opportunity to be ready for…

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Forbes releases its list of the Best Insurance Companies in America for 2022

Best Insurance Companies - American flag

Mercury proudly announced that it is among the insurers to be recognized on the list. Forbes has released its list of the Best Insurance Companies in America for 2022, which examined over 4,200 insurers but named only 90 on its list. The list was created based on a partnership between Forbes and Statista. Mercury issued a news release announcing that it had been recognized as one of the Best Insurance Companies for 2022 as named by Forbes. The partnership with Statista examined customer survey results for over 4,200 American insurers…

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