Iowa homeowners insurance customers are the next to face this struggle

homeowners insurance - Person stressed - Iowa Site

California, Florida, and Louisiana property owners can relate to the Iowan coverage issues Homeowners insurance customers across Iowa are discovering that obtaining coverage isn’t as easy as it once was as a number of insurers have decided to take their business elsewhere. The companies have been leaving Iowa recently The homeowners insurance companies that have decided to leave the state say that they are doing so due to the rising number of severe storms the state is facing, and the skyrocketing costs associated with paying for the repairs.  According to…

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Gen Z’s Truth About Lying: A Tech Revolution in Insurance

Gen Z - Masks

In an unexpected twist, the high rate of insurance application falsifications by Gen Z has become a catalyst for technological advancements within the insurance industry. NerdWallet’s 2024 Insurance Dishonesty Report reveals that 42 percent of Gen Z-ers have admitted to lying on insurance applications to secure better rates. This trend, while initially alarming, is driving significant innovation in how insurers handle data and assess risk. Generational and Gender Perspectives on Insurance Dishonesty Emerging trends highlight a generational and gender divide in attitudes towards insurance dishonesty. Men are generally more inclined…

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Latin America’s Insurance Industry Braces for Rare ENSO Climate Impact

ENSO - Impact El Nino - Latin America

Latin America is bracing for a unique climatic phenomenon that could significantly impact its insurance sector. Experts from the Swiss Re Institute have highlighted the necessity of both adaptation and mitigation to increase resilience against severe weather events prompted by the El Niño-Southern Oscillation (ENSO) cycle. This cycle, predicted to shift rapidly between its phases, presents a substantial challenge to the region’s ability to protect itself from the resulting disruptions. The Phenomenon of ENSO El Niño and La Niña Explained The El Niño-Southern Oscillation (ENSO) is a climate pattern that…

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This year to be a period of auto insurance rate increases

Auto Insurance rates - not affordable

After years of rising price trends in much of the country, 2024 is likely to continue the trend The price of everything appears to be continuing to rise, and many experts predict that auto insurance rates will be among those increasing prices consumers must face. Coverage since the pandemic has steadily become more expensive The cost of auto insurance depends on several factors, including everything from an individual’s driving record to the type of vehicle they drive, and a number of other elements depending on the state in which they…

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Hawaii residents rush to obtain newly required boat insurance

Boat Insurance Policy - Hawaii Flag

The state now requires a new level of coverage, but boaters say it’s impossible to get The state of Hawaii has announced a new rule it wants boaters in the state to follow regarding their boat insurance coverage, but many people are saying that despite their best attempts, it’s not possible to comply. Coverage is required in order to use any of the state’s harbors However, the new regulation would have boaters purchasing $100,000 in boat insurance coverage for salvaging a vessel that has run aground. This is the case…

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