Category: Financial News

The financial insurance news being updated every day will keep investors as well as professional abreast to industry and the many changes that are occurring in today’s business world.

How Insurance Can Encourage Farmers to Mitigate Climate Change Risks

Guest Author
How Insurance Can Encourage Farmers to Mitigate Climate Change Risks

The sweeping impacts of climate change impact farmers at significant rates. As a result, insurance companies take a hit as well. For example, when nearly 20 million acres of farmland flooded in the American West, it initiated $4 billion in payouts from a federal crop insurance program. Because of disasters like this, farmers are coming around on the importance of mitigating the impacts of climate change to protect their own livelihoods. Insurance companies can help farmers make beneficial sustainability choices by helping those in the agriculture industry understand their impact…

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Care through public health insurance costs adults less than private plans

H. Cutner
Public health insurance - doctor with stethoscope

Recent research also shows that the satisfaction level is higher among those adults. A recent study published in JAMA Network Open showed that adult Americans with public health insurance coverage face lower costs and experience higher satisfaction than adults with private coverage. The research involved a survey with 150,000 respondents comparing private and publicly sponsored plans. The survey showed that when compared to adults with public health insurance coverage, Americans with private plans often face less access to services, lower satisfaction and higher costs for care. The respondents were all…

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Allstate announces its agreement for SafeAuto acquisition

Nordstrom
SafeAuto acquisition - business deal - contract

The insurer’s subsidiary National General will be acquiring the low-cost auto insurance carrier. Allstate has announced that it has come to an agreement for a SafeAuto acquisition through its subsidiary, National General. This purchase will help Allstate to expand a spectrum of its capabilities and distribution. Through the SafeAuto acquisition, Allstate will add the auto insurer’s capabilities and distribution to its own offering, including its 24/7 customer contact centers at SafeAuto’s 1-800 number, as well as through its website. By bringing the low-cost auto insurer into National General, it will…

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The California Unemployment Insurance Fund will be over $24B in debt this year

G. Turner
California unemployment insurance - Debit - calculator - budget

The COVID-19 pandemic caused job losses causing the state to fall deep in debt to the federal government. The California Unemployment Insurance Fund (UIF) has racked up a substantial debt to the federal government in its efforts to support residents who lost their jobs throughout the pandemic. The revised 2021-22 budget published by Governor Gavin Newsom made reference to the debt. A paragraph in the revised budget on page 180 pointed to the challenge the state now faces regarding its California unemployment insurance fund’s debt. To support Californians who lost…

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The Ardonagh Group acquires BGC insurance brokerage business for $500 million

Marc
Insurance brokerage - business aquisition

The acquisition transaction is expected to close before the end of this year. The Ardonagh Group Limited has announced that it has acquired the insurance brokerage business from BGC Partners, Inc for $500 million of cash consideration. BGC is a leading global financial technology and brokerage business. “The agreement to sell our Insurance Brokerage business for $500 million reflects the significant value we have created since entering this market in 2017. Like our previous sales of eSpeed and Trayport, as well as our IPO and tax-free spin-off of Newmark, this…

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Allstate’s attempt to overturn jury verdict for underinsured driver benefits denied

Logan B.
Allstate Insurance News

The Supreme Court of Texas has turned down the insurer’s attempt to overturn the verdict. Allstate Insurance’s efforts to overturn a jury verdict having to do with underinsured driver benefits have been denied by the Supreme Court of Texas. The high court upheld the jury verdict in a 5-4 decision regarding a 2016 claim. The Supreme Court decision upheld the $95,000 jury verdict from the Bexar County court in favor of Daniel Wes Irwin. That verdict required Allstate to pay Irwin the full sum of $50,000 underinsured driver benefits from…

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Most Expensive Insurance in Australia

Guest Author
Most Expensive Insurance in Australia

Insurance is perhaps one of those expenses you wished you could avoid. Sometimes premiums go up, and it can be painful to dish out the money without a quantifiable product given at the time. It can seem like one of those expensive necessities. Talk to your insurance broker Perth for information on insurance premiums and coverage. But is your insurance premium actually expensive? What about compared to the rest of Australia? Better yet, where in Australia is insurance – on average – the most expensive?  The answer is…  Northern Australia…

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