AAA offers car insurance policyholders another $90 million in coronavirus financial relief

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Members with coverage through this insurer last year will be receiving an additional refund. AAA has announced that members who had auto insurance in effect from October 1, 2020 through December 31, 2020 will be receiving additional coronavirus financial relief. These policyholders will receive a 10 percent policy refund for the length of that coverage period. The coronavirus financial relief is being issued to AAA members whose vehicles are covered through the Interinsurance Exchange of the Automobile Club as well as its affiliate insurers. The company’s total refund to all…

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Understanding the Cost Of Insurance: Trike Versus Standard Two-wheel Motorcycle

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There is little that can compare to the feeling of freedom you get when on your motorcycle. The road winds ahead, a series of curves to be negotiated and mastered. Stress and issues disappear as you merge yourself with your machine and disappear into the horizon. But, there is a set procedure that needs to be followed in order to get a motorcycle license. Some people choose to skip this and, because they already have a car license, opt for a trike instead.  Once you’ve decided which type of machine…

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Blackstone Group to purchase Allstate life insurance business for $2.8B

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The sale will make it possible for Allstate to focus on its personal property-liability units. Blackstone Group Inc. has announced its agreement to purchase an Allstate life insurance business for $2.8 billion. This move was made as the private equity firm has been broadening its strategy within the insurance industry. The purchase is being made by entities managed by Blackstone Group, according to the announcement. Though the Allstate life insurance business will be sold to the private equity firm, the insurer will be holding onto a New York life business.…

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How to Budget As A Property Investor

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Getting started in the world of property investment is an exciting prospect. However, to maximize the return on your investment, you need to ensure that you set out a realistic budget from the start. Understanding all of your costs will ensure that your investment is profitable and that you gain the experience to build your portfolio over time.  Creating a budget as a property investor can be daunting. From rental management fees to legal fees, completing renovations to the property, accountant fees and all of the other costs involved in…

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Progressive TV ads featuring NFL quarterbacks are a marketing touchdown

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The television commercials have considerably outperformed other advertising. The Progressive TV ads that feature National Football League quarterbacks have proven to be an extremely effective marketing strategy. CMO Jeff Charney applauded working with “One-Take Bake” Baker Mayfield of the Cleveland Browns. The insurer’s chief marketing officer Jeff Charney discussed the success of the Progressive TV ads. He praised Mayfield for the sports marketing appeal he brought to the advertising. Moreover, with the Browns still in the NFL playoffs, the insurer only predicts that it will enjoy additional great ad spots…

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State Farm halts all federal campaign donations in light of the Capitol riots

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The insurer has been among the largest local corporate donators to United States lawmakers. Top rival insurance giants State Farm and Allstate have been among the largest sources of local corporate federal campaign donations. However, the former of the two has announced that it has stopped giving to those causes. State Farm had been a heavy hitter for donations, including to lawmakers voting against Biden’s win certification. The insurance company is also one of the top sources of federal campaign donations among all Illinois corporations. However, State Farm has announced…

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Cyber insurance companies could lose $90 million to SolarWinds hack

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Insurers will need to foot the bill for many costs such as incident response and forensic services. The SolarWinds hack is expected to cost cyber insurance companies about $90 million total for covering forensic services and incident response services for compromised clients. That said, many experts are saying that this expense could have been significantly higher. “Although the SolarWinds attack is a cyber catastrophe from a national security perspective, insurers may have narrowly avoided a catastrophic financial incident to their businesses,” said BitSight director of insurance programs and partnerships, Samit…

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