Central Pacific Hurricane Season has started, so it’s policy review time

Central Pacific Hurricane Season - Approaching storm

Insurance companies in Hawaii are reminding homeowners to ensure they’re covered. The Central Pacific Hurricane Season has begun, and Hawaii insurers are reminding homeowners to make sure they have adequate insurance coverage. The state insurance commissioner has also reminded owners and renters to review their policies. Reviewing a policy at least once per year to ensure that coverages and exclusions are appropriate for covering a homeowners property and possessions is highly recommended. Hawaii Insurance Commissioner Colin Hayashida has reminded state residents of the importance of this annual practice, particularly as…

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California wildfires may need to be a way of life, say insurance officials

California wildfires - forest on fire

After 2020’s record-breaking fire season, officials warn that this may be an ongoing trend. California wildfires caused the destruction of over 10 million acres in 2020 according to a progress report from the U.S. Department of Agriculture outlining the resilience strategy. The progress report’s focus is on efforts to reduce fire fuel through forest thinning strategies. Details from the strategy show that federal efforts will be rising by “two to four times more” than the current levels for reducing destruction from the blazes. This plan was released by the Biden…

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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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Three more Florida property insurance companies cancel policies

Florida property insurance - damage from hurricane

Over 53,000 additional homeowners’ policies across the state are being cancelled due to hurricane claims. Three Florida property insurance companies have added their names to the list of insurers that have been cancelling policies in the state due to hurricane claims. Together, the three insurers will either cancel or not renew over 53,000 policies starting in June. These Florida property insurance cancellations are occurring just before the start of the 2021 hurricane season. Affected customers will be receiving a letter to advise them of the fact that their policies will…

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Insurance companies must boost wildfire preparedness, says California commissioner

Wildfire preparedness - firefighter and scorched home

Ricardo Lara has called on property insurers to play a role in assisting homes and businesses in readiness. California Insurance Commissioner Ricardo Lara has called for property insurers across the state to play a larger role in boosting wildfire preparedness among homeowners and businesses. The goal is to create improved widespread readiness as the fire risk season approaches this year. At the end of last week, Lara gave an update on the actions that California communities are taking to help promote wildfire preparedness among state residents. He spoke during a…

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State Farm works with American Red Cross on home fire safety

Home fire safety - smoke detector

The two companies have partnered up to educate employees, neighbors, friends and family. A new home fire safety partnership between State Farm and American Red Cross has formed to help employees and friends alike to be better informed and prepared. The education program is meant to help agents, employees, neighbors, and friends. This home fire safety prevention and action education is meant to save lives and property. The American Red Cross responds to an annual average of 60,000 disasters. Most of those events are related to home fires. Last year,…

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Oregon wildfire insurance may continue through Lloyd’s of London

Oregon Wildfire Insurance - Forest Fire in Portland, Oregon

As the risk of another fire season approaches, the state will rely on its unique policy again in 2021. As the state’s traditional fire season approaches, Oregon wildfire insurance will be provided by the unique $25 million policy through Lloyd’s of London. The oldest insurance marketplace in the world has been providing this coverage since 1973. The state Department of Forestry has purchased the Oregon wildfire insurance against losses for nearly fifty years. This is a unique coverage as no other state has coverage against wildfires. “It’s a catastrophic firefighting…

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