Live Insurance News

California’s Insurer of Last Resort on the Brink Amid Wildfire Crisis

March 26, 2024March 25, 2024 Angela Linders

Catastrophic Wildfires Upend Insurance Landscapes The California Fair Access to Insurance Requirements (FAIR) Plan, established as a safety net for homeowners in high-risk fire zones, faces an unprecedented threat of insolvency amid a flurry of catastrophic wildfires and increasing claims. This predicament has sparked intense scrutiny and discussions on sustainable insurance strategies while leaving many to wonder about the future of fire insurance availability in the state. The Increasing Burden on California FAIR Plan With an exodus of insurers from California’s market, the FAIR Plan has swelled to double its…

Many health insurance plans still won’t cover Wegovy despite new approval

March 26, 2024March 25, 2024 H. Cutner

Even though the drug has received approval for heart wellness use, not just weight loss, it’s frequently not covered. In the United States, Wegovy was previously only approved for use as a weight loss drug and was commonly not covered by health insurance plans. Now, the headline-making drug has also been approved in the country for heart health, but this isn’t expected to broaden availability for its coverage. The Novo Nordisk drug is taken by injection on a weekly basis As a prescription weight loss drug – one of only…