Tag: disaster insurance

Hawaii’s Governor Green Ignites State Farm Debate and Disaster Fee Proposal

H. Cutner
Governor Green critizising the insurance industry

Governor Green Proposes Visitor Impact Fee for Disaster Insurance Amid Maui Wildfire Recovery In the aftermath of the devastating Maui wildfires on August 8, 2023, which claimed 102 lives and destroyed nearly 4,000 structures, Hawaiian Governor Josh Green has proposed a visitor impact fee to fund state disaster insurance. This initiative aims to ensure Hawaii’s resilience in the face of future natural disasters while addressing the immediate needs of those affected by the recent fires. Criticism of the Insurance Industry With an Emphasis on State Farm Governor Green has criticized…

Read More

5 Ways You Can Slash Your Spending on Homeowners Insurance

Guest Author
homeowners insurance

When investing in a policy that’s meant to protect you from unexpected financial costs, a cost-effective deal can offer you more value for money. In fact, according to ValuePenguin.com, homeowners who ended up researching insurance policies for approximately 15-30 minutes were able to make significant savings on monthly insurance premiums. This is mainly because comparing quotes allowed them to be informed about fair prices. So, if you want to lower your spending on homeowner’s insurance too, here are a few strategies to try out: 1. Take Time to Shop Around There’s…

Read More

Five Natural Disasters You Need to Be Insured Against

Guest Author

In the past few years, natural disasters have gone from being freak occurrences to a regular part of life. One of the classic examples in recent years is the wildfires that tear through California every year now with scary regularity. As climate change worsens, it is important that your business is fully insured against natural disasters, no matter whether you live in a disaster zone or not. In order to help you get insured as best as possible, then it is necessary to read this guide about disasters to be…

Read More

California fire insurance companies decline almost 350,000 policy renewals

H. Cutner
California fire insurance companies - Firefighters fighting wildfire

Insurers are taking big steps back from the industry in the state’s highest risk areas. New data from the state shows that California fire insurance companies have declined the renewal of almost 350,000 home policies since 2015. This was most common in areas with the highest wildfire risk. The data showed that insurers are trying to reduce their risk exposure as wildfires become more costly. The newly released data did indicate that California fire insurance companies have dropped hundreds of thousands of customers. However, it did not point out how…

Read More

Insurance drone use spikes as hurricane season gets rolling

Logan B.
Insurance Drone Use - Drone

With each new season of potential natural disasters comes a much larger investment in this tech. Insurance drone use has been taking off – so to speak – with each new hurricane season. This year has been no exception. Every year, the tech proves itself in terms of improved safety for claims adjusters while simultaneously lowering costs. Insurance companies need to carefully plan their reactions to natural disasters for speed and reliability. When a hurricane happens, insurance companies need to move quickly. This requires substantial planning as well as tech…

Read More