Live Insurance News

Hawaii wildfires cause second highest losses to the insurance industry in the state

August 17, 2023August 16, 2023 Nordstrom

The total covered losses are still climbing on Maui island and will reach the state’s second highest. The total losses the insurance industry is on the hook for due to the Hawaii wildfires on Maui island are expected to reach the second highest in the history of the state, according to modeling cited by a recent Reuters report. The rapidly moving blaze began last week and has devastated the historic resort town of Lahaina. Lahaina has been particularly hard-hit by the blazes. A historic resort town today, it was once…

Number of Americans with health insurance hit record high in Q1 2023, said CDC

August 10, 2023August 9, 2023 Nordstrom

That said, this figure was measured just before the changes to Medicaid rules were implemented. During the first quarter of this year, the number of Americans without health insurance dropped to a record low of 7.7 percent. Unfortunately, this record-breaking figure was achieved just ahead of the expiration of the rule implemented during the pandemic. In April, the Medicaid coverage of 15 million people was on shaky ground, possibly increasing uninsured rates. The data was measured in a survey released by the Centers for Disease Control (CDC) this month. It…

Iranian government shuts down insurance company due to hijab violation

August 3, 2023August 2, 2023 Nordstrom

The government has taken action against the Azki.com insurer because of this broken regulation. The Iranian government has suspended the operations of an insurance company called Azki.com after female employees were photographed without wearing the hijab, which is mandatory in business in the country. The insurer is a start-up that sells coverage contracts from main government insurers in Iran. The discovery of the pictures showed that some female employees of the insurance company weren’t wearing their headscarves. This drew heavy criticism from large media in Iran, which demanded that the…

Colorado Homeowners Insurance Rates Experience a Staggering Uptick

July 27, 2023July 26, 2023 Nordstrom

Both house and condo owners have been watching their premiums head through their roofs. Condo owners in Louisville, Colorado have been reporting that their homeowners insurance rates have skyrocketed by 700 percent. This isn’t an isolated incident, as rates throughout the state have been rapidly rising this year. Colorado homeowners insurance premiums have been going up for a number of reasons, but they are mainly being linked to high inflation in addition to increasingly common and destructive wildfires, floods, and hailstorms. State Rep. Kyle Brown, a resident of Louisville, Colorado,…

State Farm Boldly Upholds Commitment to Florida’s Home Insurance Landscape

July 20, 2023July 19, 2023 Nordstrom

Even as Farmers and AAA reduce their business in the state, the insurer says it’s not leaving. State Farm has announced that it has no plans to leave Florida’s home insurance market like other insurers have done, and even as that insurer did that exact thing this year in California. Florida’s market has been riding the line on the edge of a crisis, but State Farm isn’t leaving. According to State Farm, it continues to see an opportunity in Florida’s home insurance market, particularly due to recent reforms for the…