Live Insurance News

Israeli airlines gets $6 billion war insurance coverage from Israel’s government

October 19, 2023October 18, 2023 Nordstrom

The country’s parliamentary finance committee has given the nod to covering the policy. The parliamentary finance committee of Israel has green lighted a strategy to offer a $6 billion state guarantee to cover war insurance against risks to Israeli airlines, said the country’s Finance Ministry. This plan will help to make certain that airlines in the country will have financial protection. The guarantee framework will make it possible for Israeli airlines to obtain war insurance policies against such risks. In this way, the goal is to keep up regular flights…

Would sending Floridians cash help them to afford home insurance?

September 29, 2023September 28, 2023 G. Turner

One lawmaker wants to direct the state’s $10 billion budget surplus to that specific cause. As Florida continues to struggle to find a way to slow the rising cost of home insurance, one lawmaker from Palm Beach County has suggested that it’s time to offer Floridians money to help them to keep up. House Bill 41 has been introduced for the upcoming legislative session in the state. “Right now, we have to focus on real solutions,” said Rep. Jervonte Edmonds (D-West Palm Beach). Edmonds introduced House Bill 41 for the…

California legislators fail to repair home insurance market before end of session

September 21, 2023September 21, 2023 Nordstrom

Home insurance - Failure and frustration

Though several deals arrived at the last moment, none of them included the sought-after proposal. Even as a slew of deals appeared at the last moment ahead of the close of California’s legislative session, none were the home insurance market fix many were waiting for to help keep insurers in the state despite the rapidly climbing wildfire risks. The key deadline came and went without a bill that would help to stave off a crisis in the state. As a new home insurance bill didn’t appear in the last session,…

California takes different tack than Florida to beat home insurance crisis

September 14, 2023September 13, 2023 Marc

Home insurance - Home on fire - Option A Option B

Officials in the state are looking for options to support property insurers in wildfire prone regions. California officials are working to avoid facing a similar situation in their home insurance market to that faced by officials in Florida. Florida residents are livid with their elected officials for allowing premiums to skyrocket to current levels. Catastrophic storms have been sending home insurance rates steadily and steeply upward in Florida. California is aiming to avoid the same situation due to the regular and devastating storms blasting their way through. State officials in…

Michigan’s 2019 Auto Reform Bill includes unconstitutional car insurance changes

August 14, 2023August 10, 2023 Live Insurance News

The state’s Supreme Court has ruled against a component of the bill that brought changes to benefits. The Michigan Supreme Court has ruled that part of the car insurance changes from the 2019 Auto Reform Bill that has been making headlines for the last four years is actually unconstitutional. About 18,000 patients experienced reduced benefits as a result of the changes in the bill. The car insurance changes have been heavily discussed and debated over the last four years, particularly in terms of decreased reimbursements for catastrophic care, cutting into…