South Carolina floods could hit the state’s homeowners insurance providers

Logan B.
flood insurance news

State’s insurance industry to take a financial blow due to heavy rainfall and rising waters Insurers in South Carolina are bracing for the impact of flood-related claims as the state becomes inundated with heavy rainfall from powerful storms. According to the South Carolina Department of Insurance, companies providing homeowners insurance and coverage for businesses are expecting to be hit by major financial losses due to recent weather-related issues. The majority of claims are expected to comes from those with damaged properties and vehicles, which has been caused by significant floods.…

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Montana is working to expand its health insurance program

S.Vagus
montana Health insurance

Montana opens public comment period for Medicaid expansion Federal officials are taking public comment in Montana concerning the expansion of Medicaid coverage. The state is currently working on expanding Medicaid coverage to some 70,000 low-income residents. The comment period is set to run through October 15, according to the Centers for Medicare and Medicaid Services. Expanding the state’s health insurance program has been a hard battle, as state lawmakers have resisted expanding the program due such an action’s association with the Affordable Care Act. State has already outlined plans to…

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South Carolina insurance industry sets up for flooding claims

Julie Campbell
Floodwaters flood auto insurance claims

A surge of filings is expected to take place after the waters rose and left massive damage in parts of the state. The South Carolina insurance industry is getting ready for a large wave of claims on policies for flood coverage, though it remains too early to know exactly how much damage has occurred in the state. The S.C. Department of Insurance has been sharing its contact information in order to help affected homeowners. The National Flood Insurance Program (NFIP), from FEMA has also been sending out information to help…

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Health insurance rates on the rise in Minnesota

Nordstrom
Minnesota Health Insurance Trump Administration Lawsuit

Minnesota consumers to see major increases in their insurance premiums Some consumers in Minnesota may see their health insurance premiums skyrocket next year. The state’s Commerce Department has announced that regulators have approved rate increases coming from some of the state’s largest insurance providers. According to the agency, rates for health coverage will rise by an average of 49% throughout Minnesota. The largest rate hikes will be coming from Blue Cross and Blue Shield of Minnesota. Blue Cross Blue Shield intends to raise rates by an average of 49% According…

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Electric vehicles also come with higher auto insurance premiums

S.Vagus
electric vehicles insurance premium and how they defer

Research shows that those with electric vehicles pay more for their insurance coverage Research from NerdWallet suggests that those with electric vehicles have higher auto insurance premiums. The organization has compared the premiums that drivers of electric vehicles and those with conventional vehicles experience. The reason why electric vehicles are attached to higher auto insurance premiums is due to the relatively high costs associated with operating and maintaining these vehicles. Repairing an electric car can be a costly process, which could lead to financial losses for insurance providers, which has…

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