Sign in Subscribe

economy

More Americans Are Driving Uninsured, Study Finds | Insurify

One in 7, or 32.7 million, people drove without insurance in 2022, according to the Insurance Research Council (IRC). That’s more than in 2019, when 11.1%, or about 28 million people, drove uninsured, and in 2020, when the percentage stood at 13.9%. Pandemic-related economic factors

Michigan Warns Car Insurers: Price Fairly or Face Penalties | Insurify

Engage in price optimization and face fines and other penalties. That’s the message from the Michigan Department of Insurance and Financial Services to insurers statewide. “When we see a failure to abide by the Insurance Code, we refer those cases for investigation and possible enforcement action,” Laura Hall, director

6.1M American Homeowners Are Without Home Insurance, Report Finds | Insurify

It’s no secret that Florida and California are in the middle of home insurance crises. But a new report from the Consumer Federation of America (CFA) suggests home insurance woes are much more widespread across the country. More than 7% of homeowners — about 6.1 million people — don’t

High Insurance Rates Driving Homeowners Out of Florida and California | Insurify

Soaring insurance costs and natural disasters are prompting some homeowners to leave areas and states where the insurance market is in crisis, according to a recent study by real estate company Redfin. Nearly 12% of Floridians who plan to move in the next year said rising insurance costs are the

Two Large California Pet Insurers Set to Hike Rates in 2024 | Insurify

More than 84,000 California pet owners could see double-digit rate increases for their pet insurance coverage this year. In April, the state’s Department of Insurance approved significant rate increases for Metropolitan General Insurance Company and American Modern Home Insurance Company. Metropolitan, which sells pet policies through MetLife

8 Insurers Get Greenlight to Enter Florida Home Insurance Market | Insurify

Increasingly expensive claims and litigation drove multiple insurers from Florida, but property owners now have a few more options. Eight property and casualty insurers received approval to enter the Florida market in April, the Florida Office of Insurance Regulation (OIR) shared in a news release. The insurers are Ovation Home

Maryland Increases Fines for Uninsured Drivers | Insurify

Maryland drivers will soon face steep penalties for driving without the state’s minimum required auto insurance. As of July 1, a 30-day lapse in coverage will cost drivers $200. Each additional day a driver goes without insurance will cost another $7 — up to $3,500. “These new laws