premiums News

GOP Lawmakers Look to Limit Car Accident Claims in Louisiana

BATON ROUGE, La. — Louisiana’s Republican lawmakers Tuesday advanced proposals to limit damage claims against businesses in car wreck lawsuits, pushing ahead with the pre-coronavirus priority as Democrats argued the debate was inappropriate amid a pandemic. House and Senate committees …

Consumer Groups Say Some Auto Insurer Lockdown Rebates Are Too Small

Two consumer groups said on Thursday that some of the largest U.S. auto insurers, including billionaire Warren Buffett’s Geico Corp, are short-changing customers on premium rebates as Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak. …

Silver Lining For Some: Virus Shutdown Boosts China P/C Insurers

HONG KONG/BEIJING — Chinese non-life insurers are discovering a silver lining to the cloud spreading over China’s economic performance from the coronavirus outbreak — a sharp drop in car accident claims. Beijing’s efforts to contain the new coronavirus have included …

She Thought She Had Health Insurance, but Was Left Owing $40,000

BOISE, Idaho — Susan Calvin was healthy. Her family was, too. But their health insurance premiums and deductibles were climbing. When she started shopping for an insurance plan for 2017 and lamented the cost, Calvin says, her insurance broker suggested …

Zurich Insurance Sees Best Chance to Raise Prices in 18 Years

Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this …

Equine Insurance Agency Owner Sentenced for $1.3M Fraud

The owner of a Rhode Island insurance agency that specialized in insuring horses was sentenced Monday to 36 months in federal prison for operating various schemes to defraud customers, insurance companies, and finance companies of approximately $1.3 million, the U.S. …

North Dakota Town Sees Rising Flood Insurance Costs

Had Greg Larson, a Realtor and riverside homeowner in Bismarck, and his family changed their flood insurance policy, their cost would have gone from $705 a year to $4,200. Increases in flood insurance rates are making some of Bismarck-Mandan’s prized …

Ohio Business Lacked Workers’ Comp Coverage, Owes Over $200,000

Ralph Gearhart, owner of Ohio State Roofing, Inc., who operated his business for more than a decade without proper workers’ compensation insurance was sentenced recently. According to authorities, he was found guilty of failing to comply with the law, having …

Calif. Wood Chipper Death Spawns Insurance Fraud Case

The owner of an Orange County tree-trimming business faces fraud charges after filing a 2007 insurance claim for the family of an employee who died in a wood chipper. Prosecutors say he never paid premiums on the insurance. Jose Luis …

Florida Consumer Advocate Focusing on Auto Insurance

Florida’s insurance consumer advocate is forming a working group to focus on skyrocketing premiums for automobile coverage. Robin Westcott on Thursday said one of the biggest reasons for those increases has been personal injury protection fraud. State law requires motorists …