Tag: Florida

Homeowners insurance rates in Texas are set to spike yet again

Marc
homeowners insurance rates increase

Homeowners in Texas will see an increase in their insurance premiums next year Residents of Texas are seeing their homeowners insurance premiums grow. The state is home to the third highest homeowners insurance rates in the United States, with the average annual premium being $1,745. The Texas Department of Insurance notes that these premiums have grown by more than 26% between 2010 and 2014. Only Florida and Louisiana have higher homeowners insurance premiums, on average. For some homeowners, premiums are growing by a greater margin than what others are seeing.…

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Florida’s Citizens aims to shed more homeowners insurance policies

S.Vagus
Homeowners Insurance in Florida

Insurer aims to become more consumer friendly by getting rid of additional policies Florida’s Citizens Property Insurance is looking to become more consumer friendly by shedding additional policies in order to become more financially sustainable. Over the past four years, Citizens, which is the last resort provider of homeowners insurance policies for consumers in the state, has shed approximately 1 million policies. These policies have been transferred to private insurers that are honoring the policies that were initially sold by Citizens. The insurer has been shedding these policies in order…

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Pennsylvania issues warning to the insurance industry

Marc
Pennsylvania Insurance Industry

State has warned insurers not to practice price optimization as it is unfairly discriminatory Pennsylvania has joined seven other states in warning the insurance industry against practicing “price optimization,” a technique that insurers often use to raise premiums for those they deem unlikely to search for better deals. The Consumer Federation of America notes that this practice is unfair and illegal, as it often makes use of socio-economic information that insurers are banned from using to price coverage in some states. The organization suggests that this pricing practice is a…

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Health insurance premiums to see a modest rise in Florida

S.Vagus
Florida health insurance

Florida regulators announce rate hikes for policies sold through exchange The Florida Office of Insurance Regulation has announced that it has approved an increase in health insurance premiums for coverage sold through the state’s exchange. Florida’s insurance exchange in managed by the federal government, and consumers looking for policies can find them through HealthCare.gov, the federal exchange network. The rate increases in Florida are more modest than what is being reported in other states and consumers are expected to experience a small increase in premiums for coverage in 2016. Premiums…

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Supreme Court ruling secures health insurance for 1.3 million people in Florida

Marc
Florida health insurance

Ruling from the Supreme Court has ensured that many consumers get to keep their coverage The recent ruling from the Supreme Court on the King v. Burwell case will have a beneficial impact on those with health insurance coverage in Florida. Some 1.3 million consumers will be able to keep their insurance coverage, supported by subsidies, due to the ruling from the Supreme Court. The King v. Burwell case had caused concerns among many that received subsidized coverage, as it called into question whether or not the federal government can…

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