Live Insurance News

How Military Families Are Winning the Financial Game

March 24, 2025March 23, 2025 Tate Ellison

Military Families Prove Financial Resilience Amid Economic Pressures Military families have quietly written one of the most compelling financial success stories of recent years. While inflation and economic uncertainty have challenged households across the nation, military families have not only endured but thrived. Recent data from the USAA Military Financial Wellbeing Index reveals an impressive 19% increase in savings and a 23% reduction in credit card balances among military members between 2019 and 2023. If these numbers make you sit up and take notice, you aren’t alone. There’s a lot…

Life Insurance and Annuity Growth in Focus: Key Trends Shaping the US Insurance Market

March 21, 2025March 20, 2025 Live Insurance News

Modest Growth Expected for U.S. Life/Annuity Insurance Sector Through 2025 Despite market volatility and economic uncertainties, the U.S. life and annuity (L/A) insurance sector is projected for modest growth over the next two years. According to Best’s Market Segment Report, the industry will see a boost of approximately $48 billion in capital and surplus combined through 2024 and 2025. Additionally, net income is expected to climb to $51.1 billion in 2025, exceeding pre-pandemic levels by a significant margin. However, while the numbers signal progress, the challenges ahead are as thought-provoking…

State Farm’s Financial Challenges Leave California Homeowners in Limbo

March 3, 2025March 3, 2025 Ester Adams

State Farm, the largest property insurance provider in California, is dealing with financial instability after a series of devastating wildfires. This turmoil has placed homeowners across the state in a precarious position, as discussions between the insurer and state regulators continue with no resolution yet in sight. Wildfire Losses Plunge State Farm Into Financial Uncertainty The Los Angeles fires, which ravaged neighborhoods earlier this year, have dealt a heavy financial blow to insurers, with State Farm bearing the brunt of the damage. The company’s homeowner claims have surged to a…

Wildfire Survivors Get a Lifeline as California Pushes for Full Coverage Payments

February 10, 2025February 9, 2025 G. Turner

California Insurance Commissioner Calls on Insurers to Ease Wildfire Survivors’ Burdens A Compassionate Plea for Full Coverage Without Detailed Inventories California Insurance Commissioner Ricardo Lara is taking a strong stance to support survivors of recent wildfires in Southern California. Recognizing the emotional and logistical toll of losing a home, Lara has issued a Notice urging residential property insurance companies to provide full contents coverage limits without requiring policyholders to compile exhaustive inventories of their destroyed belongings. “It is inhumane to require wildfire survivors who have lost everything to list every…

What Happens to 9,000 Burned Homes? Inside the Massive Cleanup After the Eaton Fire

January 28, 2025January 27, 2025 Tate Ellison

Eaton Fire’s Devastating Impact The Eaton Fire, which ignited late on January 7, 2025, under fierce Santa Ana wind conditions, has left an indelible mark on Altadena and its surrounding communities. Covering over 14,000 acres, the wildfire destroyed a staggering 9,418 structures, damaged another 1,073, and claimed 17 civilian lives. Though containment has reached 95%, the scarred landscape and displaced residents paint a grim picture of the fire’s aftermath. The fire’s origins remain under investigation, with recent video footage suggesting potential electrical activity near the ignition point. Meanwhile, local utility…

North Carolina’s Biggest Insurance Hike in Years

January 21, 2025January 20, 2025 G. Turner

North Carolina Homeowners Face Rising Insurance Premiums Amid Settlement Agreement North Carolina homeowners will soon see their insurance premiums rise following a recently announced settlement between the state Insurance Department and the insurance industry. The increase will be gradual, averaging 15% statewide by mid-2026. While the new rates are lower than what the industry initially proposed, the settlement demonstrates the growing pressures on insurers as they deal with inflation, costly natural disasters, and other challenges. Understanding the Settlement and Its Impact on Homeowners The settlement reduces what could have been…

How Rising Auto Insurance Costs Are Changing the Way We Buy Cars

January 13, 2025January 13, 2025 John Bowers

Rising Auto Insurance Costs: A Growing Concern for U.S. Drivers Auto insurance premiums in the United States have reached record highs, raising concerns about affordability for many Americans. A recent study by Jerry revealed that eight out of 10 U.S. drivers believe auto insurance has become prohibitively expensive for the average person. Even higher-income earners, those making more than $129,000 annually, are feeling the pinch. Nearly half of them have been shopping for better rates, while over half have opted for reduced coverage heading into 2024. This steady climb in…