Category: Latest Insurance News Articles

The latest headlines, on all lines of insurance, will be updated and listed here.

Health insurance rates will be higher for Colorado residents next year

H. Cutner
Health insurance rates - medical insurance plan
Auto insurance data spat could lead...
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State residents buying their coverage through the state exchange will see higher prices for 2023. Residents of Colorado are seeing higher health insurance rates for 2023 when they shop for their coverage on the state exchange instead of receiving their plans through their employers. The average increase is 10.4 percent across all plans, while employers are also seeing increases. Health insurance rates are rising by 7.4 percent for small employers who have up to 100 workers. The state took longer than usual to announce their final figures for 2023 but…

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Federal health insurance marketplace gives preview of Open Enrollment offerings

Marc
Health insurance marketplace - Keyboard

The Biden-Harris Administration is allowing for some window-shopping for US consumers. The 10th Open Enrollment period for the health insurance marketplace will begin tomorrow, but US consumers can check out what will be available early, with window shopping for plan choice, affordability and quality. The federal exchange officially starts accepting enrollments tomorrow, but today you can have a look. Consumers can head to the health insurance marketplace to preview the options available to them and to consider which coverage best suits their needs and where they can save money. The…

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California agents seek an end to the auto insurance rate moratorium

G. Turner
Auto insurance - Woman and Man with arms crossed

A group representing the agents says it is having a negative impact in the state. A California auto insurance group has become quite vocal about their opinion against Commissioner Lara’s recent rate moratorium. According to the agents, the commissioner’s moratorium is negatively impacting state consumers. The American Agents Alliance has stated that they are opposed to Lara’s auto insurance rate moratorium in California. The alliance is based in Sacramento, California, and is an association of professionals in the insurance industry. “Commissioner Lara’s Rate Moratorium and his refusal to process automobile…

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Florida to pay up to $5M in insurance deductibles for hurricane victims

Marc
Insurance deductibles - hurricane damage

Low- and moderate-income families most affected by Hurricane Ian may qualify for this support. The Florida Housing Finance Corporation is offering $5 million to help pay the insurance deductibles of low- and moderate-income victims of Hurricane Ian, announced Governor Ron DeSantis. The money is meant to help those families to cover the out-of-pocket portion of their home coverage. The corporation functions as the housing finance agency in the state and receives funding from the state for the SHIP program (State Housing Initiatives Partnership). There is $5 million reserved for use…

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Toyota auto insurance takes its first steps into Texas

Logan B.
Auto insurance - Toyota Sign - Texas

The automaker’s branded coverage product launched at the end of last year and is expanding. Toyota auto insurance (TAI), the automaker’s branded coverage product which launched last December, has now announced that it is moving into Texas for the first time. Texas is the second largest market in the United States and will be an important move for the insurer. The insurer called the move a “major milestone” for its product. Including Texas, TAI is now available in eight US states, including Arizona, Illinois, Indiana, Missouri, Ohio, South Carolina, Tennessee,…

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Insurance costs associated with war in Ukraine higher than Iraq war

H. Cutner
Insurance costs - War in Ukraine

Industry sources are saying that coverage is now more expensive and more challenging to organize. Insurance costs associated with journalists, humanitarian workers, engineers and other people traveling to Ukraine are now more expensive and tougher to organize than was the case during the Iraq war. A growing number of insurers have started working their way into providing coverage for this destination. Though insurers had initially been hesitant to provide coverage immediately after Russia invaded Ukraine in February, several have started easing back, according to industry sources. That said, insurance costs…

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Overcoming Objections in Insurance Sales: The Art of Persuasion

Live Insurance News
sales objectives and tips

In any sales process, objections are bound to come up. It’s important to be prepared to handle them in a way that doesn’t lose the deal. Let’s take a look at some of the most common insurance sales objections you might encounter and how to overcome them. 1. I don’t have the money. The most common objection is price. Potential clients may say that your product or service is too expensive or that they can get a similar product for less elsewhere. When this happens, it’s important to emphasize quality…

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