CSU Predicts Intense 2024 Hurricane Season: Impact on Florida Insurance

G. Turner
2024 Hurricane Season - CSU hurricane prediction - Florida

In a recent release by Colorado State University, the upcoming Atlantic hurricane season is projected to be exceptionally aggressive. Experts are forecasting 23 named storms, setting it significantly above the 30-year average of 14.4, and foreseeing five major hurricanes, surpassing the average of 3.2. Season Start and Its Implications The hurricane season, beginning on June 1, aligns precisely with the reinsurance renewals period in Florida, casting uncertainty over the potential ramifications on reinsurance rates in the region. This timing has sparked an industry-wide discussion on how the forecast could shape…

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Two more insurers stop selling California home insurance

Nordstrom
Home Insurance - California Sign - Goodbye post it

The state’s coverage crisis appears to be getting worse as two more insurers have stepped away. Two more home insurance companies have announced that they have ceased selling home insurance to new applicants in California. According to the insurers, the reason for its decision is that wildfire risk and construction costs have risen too high. The insurers are small but are part of a growing trend Trans Pacific Insurance Co. and Tokio Marine America Insurance Co. have both announced that they will not accept new applicants for home insurance in…

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Insurance Exodus: 2 More Companies to Exit California’s Homeowners Insurance Market

Logan B.
California Homeowners Insurance - Company Exits

Growing Trend Withdraw from California’s Market In a significant development within the insurance industry, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. have both declared their intentions to exit the homeowners and personal umbrella insurance markets in California. This decision places these companies alongside an expanding list of insurers that are choosing to either withdraw or scale back their operations in the state. Policyholders Affected: Tokio Marine’s Departure Impacts Thousands in California According to recent filings with the California Department of Insurance, both entities—subsidiaries of the Japan-based Tokio…

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The season is here to ensure you have the right RV insurance coverage

H. Cutner
RV insurance - RV on road

Whether you have a travel trailer or motorhome, being properly covered is key Many recreational vehicle owners are getting revved up for some time on the road this summer, and as a part of this effort, it is important to make sure that RV insurance is a step that isn’t skipped. It’s not just a matter of having any coverage at all Whether you have a motorhome, trailer, camper, or have another name for your recreational vehicle, coverage is extremely important to ensuring that you are financially protected if it…

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Health insurance scam victims get almost $100 million in FTC refunds

Nordstrom
Health insurance scam - Warning

Consumers previously charged for sham medical plans will receive refunds. The Federal Trade Commission has announced that consumers that were charged for Benefytt Technologies-marketed scam health insurance plans will receive a refund as part of a total $100 million. This is the outcome of an FTC complain from August 2022 Benefytt and its third-party partners allegedly ran a number of deceptive websites aimed at consumers who were shopping for comprehensive health insurance plans that were Affordable Care Act qualified.  Agents were allegedly selling the Benefytt plans even though they were…

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