Live Insurance News

Why 99% of Term Life Policies Never Pay Out And What Farmers’ Lawsuit Tells Us

March 25, 2025March 26, 2025 Tate Ellison

Consumer Protection in Focus: The Farmers Life Insurance Lawsuit A high-stakes legal battle is brewing in California as Farmers New World Life Insurance Company faces allegations of overcharging policyholders and improperly lapsing policies. The class action lawsuit, filed on March 18, 2025, in California Superior Court for Los Angeles County, accuses Farmers of engaging in predatory practices that left many policyholders vulnerable. While the case is still in its preliminary stages, it has already sparked critical discussions about consumer rights and corporate accountability in the insurance industry. Understanding the Allegations…

How Military Families Are Winning the Financial Game

March 24, 2025March 23, 2025 Tate Ellison

Military Families Prove Financial Resilience Amid Economic Pressures Military families have quietly written one of the most compelling financial success stories of recent years. While inflation and economic uncertainty have challenged households across the nation, military families have not only endured but thrived. Recent data from the USAA Military Financial Wellbeing Index reveals an impressive 19% increase in savings and a 23% reduction in credit card balances among military members between 2019 and 2023. If these numbers make you sit up and take notice, you aren’t alone. There’s a lot…

Allstate Bonus Plans in the Spotlight Over Storm Claim Rejections

March 20, 2025March 19, 2025 Tate Ellison

Court Orders Transparency in Storm Claim Denials A federal court has handed down a milestone decision requiring Allstate Insurance to disclose key internal documents related to its handling of storm damage claims. The ruling, tied to a lawsuit filed in Louisiana, sheds light on the often opaque processes surrounding insurance claims. The plaintiff, Reed Chenevert, accused Allstate of arbitrarily denying his roof damage claim after a storm, citing bad faith and breach of contract. Central to the dispute is whether Allstate’s internal policies, including incentive plans for adjusters and managers,…

Florida’s Home Insurance Crisis Deepens Amid Revelations of Financial Practices

March 7, 2025March 6, 2025 Tate Ellison

Lawmakers Begin Scrutiny of Insurance Industry Practices Florida’s property insurance market has been a focal point of concern for years, with homeowners facing skyrocketing premiums and limited options. However, new information has surfaced, shedding light on financial practices within the insurance industry that raise serious questions about transparency. A report from March 2022, commissioned by the state’s Office of Insurance Regulation, has now become central to this discussion. Though it was completed over a year ago, it wasn’t made public at the time. It was only obtained recently through a…

Texas Class Action Lawsuit Accuses GEICO of Failing to Honor Accident Forgiveness Program

March 5, 2025March 4, 2025 Tate Ellison

A class action lawsuit has been filed against GEICO in Texas, claiming the insurance giant misrepresented its Accident Forgiveness program, resulting in significant financial hardships for some policyholders. The lawsuit, brought by Texas resident Christopher Cude on February 25, alleges that GEICO raised his auto insurance premium by over 91% following a minor, first at-fault accident involving his wife. According to court documents, Cude’s premium increased from $1,358 to $2,664 upon policy renewal, despite the fact that his policy included Accident Forgiveness, which GEICO promotes as a safeguard against rate…

State Farm, Allstate, and the New Goldmine in Pet Insurance

February 6, 2025February 4, 2025 Tate Ellison

Pet Insurance Market Growth Accelerates: A Look Ahead When most people think about insurance, their minds turn to health, auto, or homeowners’ coverage. But a fast-emerging segment is poised to redefine the industry—and it’s for our furry friends. The pet insurance market is rapidly expanding, reflecting a growing trend in how people prioritize their pets’ health. According to Metatech Insights, this market generated $10.8 billion in premiums in 2024 and is set to soar to $38.3 billion by 2035 at an annual growth rate of 12.2%. This dramatic shift highlights…

What Happens to 9,000 Burned Homes? Inside the Massive Cleanup After the Eaton Fire

January 28, 2025January 27, 2025 Tate Ellison

Eaton Fire’s Devastating Impact The Eaton Fire, which ignited late on January 7, 2025, under fierce Santa Ana wind conditions, has left an indelible mark on Altadena and its surrounding communities. Covering over 14,000 acres, the wildfire destroyed a staggering 9,418 structures, damaged another 1,073, and claimed 17 civilian lives. Though containment has reached 95%, the scarred landscape and displaced residents paint a grim picture of the fire’s aftermath. The fire’s origins remain under investigation, with recent video footage suggesting potential electrical activity near the ignition point. Meanwhile, local utility…