GEICO suddenly stops selling California auto insurance policies by phone or in-person

Auto insurance - Online - California
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The insurer has shut offices, laid of hundreds of people and isn’t selling in any way other than online. GEICO has stopped selling California auto insurance policies by phone or in person, while regulators have said that they are monitoring the situation. All 38 of the insurer’s agent offices in California have now been closed and workers laid off. California drivers with GEICO auto insurance policies are still covered and it is still possible to sign up for new coverage online. That said, the in-person offices are all closed, and…

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State Farm lets policyholders receive insurance claim payouts via PayPal

Insurance claim payouts - PayPal app on phone

The new option is a broadening if the insurer’s Digital Pay solution enabled by Fiserv’s Carat. The largest home and vehicle insurer in the United States, State Farm, has announced that it is expanding the insurance claim payouts options available through Digital Pay so that they can be instantly received in a policyholder’s PayPal account. Digital Pay allows customers to have their claims reviewed, approved and paid online. When filing through Digital Pay, policyholders have the opportunity to choose from among several payment methods for insurance claim payouts. These transaction…

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Top 5 Misconceptions and Crucial Insurance Outsourcing Facts: 2022

Top 5 Misconceptions & Crucial Insurance Outsourcing Facts: 2022

Almost 54% of all companies use third-party support teams to connect with customers. An excellent outsourcing transition leads to long-term benefits. Globally, businesses spent $75.2 billion on outsourcing security last year. To be precise, Insurance outsourcing is an efficient way to simplify your P&C insurance operations; policy management, claims processing, and other operational support that demand a lot of time of an organization.  Insurance outsourcing allows insurance companies to adapt to the virtual environment. Now more and more companies are doing business online. As a result, the insurance Business Process…

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Auto Club Insurance files for $202 million California car insurance rate increase

Car insurance - Increase in Rates

Commissioner Ricardo Lara’s office has received the request to let the company hike premiums. Auto Club Insurance has filed for an overall California car insurance rate hike of 6.9 percent. This will impact 1.44 million policyholders and the total of 2.68 million vehicles they have insured through that provider. The rate increase will mean an average annual hike in premiums of $75 per vehicle ($140 per policy). There have already been several insurers that have filed in California to be able to increase their car insurance rates for new and…

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7 Tips For Managing Healthcare Costs

healthcare tips

Acquiring healthcare facilities in today’s world can be expensive. With the increasing human population, medical services have become limited for every individual. Unless you have a lot of money to spend, getting timely and adequate treatment may not always be an option. Therefore, you must spend your money mindfully when it comes to healthcare. Experts suggest the best way to get adequate medical support is through managing your healthcare costs. If you know how to save money while seeking medical facilities, you can make them more financially accessible. Likewise, utilizing…

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Colorado homeowners’ insurance rate hikes could push residents out of the state

Colorado Homeowners Insurance - Colorado Sign

Some property owners wonder how they will afford the impact of climate change and inflation on premiums. Colorado homeowners insurance rates have been heading rapidly higher due to the impact of climate change and inflation, among others, causing some residents to wonder if they will be able to afford to remain within the state. Many households in the state have watched their premiums climbing in the double digits. As the cost of inflation also impacts the price of other essentials, such as food, energy, fuel, and labor shortages affect child…

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“Regular use” auto insurance exclusion to face Pennsylvania Supreme Court

Auto insurance exclusion - Person driving vehicle

The court agreed to consider a case that would add limitations to its use in car policies. Pennsylvania’s Supreme Court has agreed to the consideration of a case that would restrict the use of the “regular use” auto insurance exclusion. The reason is that the policy rule may be in violation of the motor vehicle financial responsibility law. This consideration of the case would be a review of a ruling made by a Superior Court, in which it determined that the regular use auto insurance exclusion is in violation of…

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