Allstate insurance company announces the sale of its Northbrook campus

Insurance company - Sale Agreement

The insurer announced that it had reached an agreement to sell the main portion of its campus in Illinois. The Allstate Corporation insurance company has announced that it has reached an agreement for the sale of the property comprising most of its Northbrook, Illinois campus. The insurer announced in October that a shift in its working trends led to its decision to sell. Near the end of October 2021, Allstate announced that it was selling its insurance company headquarters property in Northbrook, Illinois. Now, the insurer has announced that it…

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Iowa makes insurance news for largest industry GDP in the US

Insurance news - Iowa highest GDP in US

The state is home to the headquarters of over 180 insurers and is thriving from this sector. Iowa is making unique insurance news this week as the state has been marked as receiving a higher percentage of its Gross Domestic Product (GDP) from that industry and the finance industry than any other state. This, according to a recent announcement from Debi Durham, Iowa Economic Development Authority director. With over 180 insurers headquartered in the state, this has become a critical part of its GDP. Iowa’s primary reputation hasn’t necessarily been…

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Treasury cyber insurance claims data gets gov watchdog nod

Cyber insurance Support

A Government Accountability Office to release report on the Treasury’s role in shaping market in the spring. The Government Accountability Office has shown its support for the Treasury Department’s rising data collection from cyber insurance providers regarding claims. The information collection occurs by way of a program permitting the government to help with payouts. The data collection is permitted because of a program making it possible for the government to help out with cyber insurance payouts to policyholders when a catastrophic event occurs. The Federal Insurance Office at the Treasury…

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Commissioner Ricardo requires more commercial property insurance from FAIR

Commercial property insurance - Business property insurance

The California plan has been ordered to include increases to the decades-old business coverage limits. California Commissioner Ricardo Lara has announced that his office has ordered that the FAIR Plan must incorporate his mandated increases to the limits to commercial property insurance. The commissioner made the order to boost the coverage limits to better support Californian businesses. Lara announced that the commercial property insurance changes were meant to support businesses in California. “My order is part of an ongoing commitment to helping businesses in California thrive as our economy recovers…

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Mercury Arizona home insurance adding new coverage and discounts

Arizona home insurance

The added protection will include eco-friendly advantages and discounts will help reduce premiums. Mercury has announced that it is adding to its Arizona home insurance coverage and discounts available to policyholders. There will be five new coverages available to homeowners and three new types of discounts. Arizona home insurance consumers will be able to access these new coverages and discounts. New coverage provides additional protection with an option for replacement products that are environmentally friendly. The discounts are for homeowners who are already taking steps to be environmentally friendly who…

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Employer-based health insurance premiums are skyrocketing

Health insurance Premiums skyrocket'

The average family is paying 47 percent more than they were a decade ago, outpacing inflation and wage growth. Americans who receive their health insurance through their employers are paying substantially higher premiums in 2021 than they were in 2011, according to a new Kaiser Family Foundation report. Employer-sponsored health insurance has seen a 47 percent rise in premiums, said the report. This health insurance premium rise has been moving faster than wage growth (31 percent) and inflation (23 percent) that took place during that same decade. This year, annual…

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Allianz becomes China’s first fully foreign-owned life insurance company

Life insurance - Allianz

The insurer created a joint venture that has become the first to receive approval of this nature. Allianz has announced that its Chinese life insurance company has received the necessary regulatory approval for becoming the first joint venture-created foreign-owned life insurer in the country. The sheer size of the Chinese market has made it an exceptionally appealing one to foreign insurers. Many financial institutions from countries around the world have been seeking to grow their presences within China. They are looking to enter or broaden their presence in the country’s…

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