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

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

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

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

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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State Farm uses digital tools to deliver faster insurance payouts on claims

Insurance payouts - computer and dollar bills

The insurer has used a solution enabled by Fiserv to make the process possible. State Farm has rolled out a new digital solution for making insurance payouts on claims for its fire and auto customers. The digital payments solution uses technology from Fiserv, Inc. a leading global payments and financial services technology solutions provider. Using the Digital Pay option, customers are provided with improved flexibility after a claim. The Digital Pay service lets consumers choose a faster way to receive their insurance payouts on auto and fire claims. Many consumers…

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How Climate Change Affects the Housing Market

How Climate Change Affects the Housing Market

One look at the housing market these days will tell you almost all you need to know about it. Prices are on the rise, interest rates are low, and although hundreds of thousands of people are looking for homes to buy, it’s a seller’s market and pickings are slim. There are plenty of factors that can contribute to this trend from natural economic swings to the COVID-19 pandemic rush to get out of the cities.  Something that many people don’t necessarily consider as a factor that impacts the housing market…

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5 Ways Young Drivers Can Lower Car Insurance

5 Ways Young Drivers Can Lower Car Insurance

It’s exciting to finally get that driver’s license and have the freedom to get in the car and go. But one thing that stops a lot of new drivers in their tracks is the high cost of car insurance. Parents and young drivers may get quite a shock when they see the next insurance bill. Going without insurance as a young driver just isn’t an option — it could result in fines, a suspended license, or even a terrible, costly accident. Young drivers shouldn’t despair, though. There are a few…

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