State’s insurance rates remain steady despite fears of major increases The cost of coverage from Georgia’s health insurance exchange have remained steady, according to a study from the Urban Institute. Many had feared that premiums for policies sold through the state’s exchange would increase at a rapid pace, but this has not been the case. The exchange sells plans in Bronze, Silver, Gold, and Platinum categories, with each tier offering their own level of coverage benefits, with Platinum being considered the most comprehensive. Silver tier plans are, by far, the…
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Insurance fraud warning issued in Georgia
Insurance Commissioner issues a warning concerning insurance fraud Georgia’s Insurance Commissioner, Ralph Hudgens, has issued a warning to consumers regarding insurance fraud. The insurance industry has been dealing with fraud for nearly as long as it has existed, but new threats are beginning to emerge in the digital world that the industry may not be prepared to deal with effectively. Conventional methods of fraud are also becoming more resilient to the measures that the insurance industry is taking to thwart them. Consumers are receiving calls from fraudulent representatives of life…
Read MoreTornadoes in Georgia cause $6 million in losses for the homeowners insurance sector
Several tornadoes have struck Georgia, causing significant damage in some parts of the state Six tornadoes struck Georgia early last week, five of which hit the metro Atlanta area. These tornadoes generated thousands of homeowners insurance claims and insurance adjusters were deployed to the affected areas in order to help assess t he damage that was caused. According to Insurance Commissioner Ralph Hudgens, more than $6 million in insured losses were caused by the six tornadoes. Most of the damage caused by these disasters was to homes and vehicles. Homeowners…
Read MoreHomeowners insurance advice issued in Georgia following powerful storms
Insurance Commissioner Hudgens provides some advice to homeowners in the state Georgia is no stranger to natural disasters, but many of its residents may not know how to handle their insurance companies in the wake of a severe storm. Several powerful storms have tore through the state in recent weeks, highlighting a lack of awareness concerning certain insurance issues. The state’s Insurance Commissioner, Ralph Hudgens, has provided some recommendations for those that have had their properties damaged by recent storms. Getting in contact with an insurance agent and documenting damage…
Read MoreSevere weather in Georgia prompts concerns regarding homeowners insurance
Double checking insurance policies becomes a priority as weather conditions worsen Severe weather is expected to create some problems in Georgia. Forecasts predict that weather conditions in many parts of the state could be “very dynamic” this week. What this means is that tornados and heavy rainfall could be seen in parts of the state and these events could lead to significant property damage for homeowners. As such, Georgia Insurance and Safety Fire Commissioner Ralph Hudgens has begun offering advice to homeowners that may fall victim to property damage. Homeowners…
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