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insurance

Texas Says Insurers Must Drop Drivers Who Obstruct Liability Claims | Insurify

Texas auto insurers can now decide when a policyholder hasn’t cooperated with the company’s investigation, settlement, or defense of a liability claim — and drop the driver when their policy comes up for renewal. After giving drivers written notice and 10 days in which to cooperate, insurers must now

Florida’s Largest Home Insurer Seeks 14% Rate Increase | Insurify

Florida homeowners are used to paying high insurance rates. The state’s annual average rate of $11,759 is the highest in the nation. Now, that average could climb even higher, if the state’s largest insurer wins regulators’ approval for a dramatic rate hike. Citizens Property Insurance Corporation, the

Tesla’s New Insurance Guru Aims to Lower EV Costs, Boost Adoption | Insurify

Tesla has hired former GEICO executive Allen Laben as its head of strategic insurance partnerships, a new position at Tesla. Laben says his goal in joining the company is to make owning and insuring Tesla vehicles “easy and economical.” “By partnering with insurance companies, teams across Tesla, and collision shops

FL Regulators: Execs of Bankrupt Insurers Illegally Took New Roles | Insurify

Florida law bars executive officers and directors who’ve worked for now-insolvent insurance companies from taking similar roles in the state’s industry. But a number of insurers are ignoring the so-called “no-fly” rule that took effect in 2002, the Tampa Bay Times reports. Industry executives have

Too Many Americans Are Mistaken About Insurance: Surveys Say | Insurify

Many of people’s most valuable possessions require insurance — including homes and vehicles. And 86% of Americans think they understand how their policies work and what they cover, according to a survey by Trusted Choice, which represents the Independent Insurance Agents & Brokers of America Inc. (the Big “I”). But

Senate Lawmakers Butt Heads Over Cause of Home Insurance Crises | Insurify

Home insurance premiums keep rising, but U.S. legislators are divided over what’s causing the insurance crisis. Party lines seemed to divide lawmakers at a June U.S. Senate Budget Committee meeting on “how climate is already challenging insurance markets.” Democrats argued climate change is the driving force behind

California’s Largest Home Insurer Seeks Dramatic Rate Increase | Insurify

State Farm insures roughly one in five California homes, and its recent rate hike proposal has the potential to shift the entire home insurance market in the Golden State. The state’s largest home insurer — covering roughly 1.2 million California homes — is seeking to raise home insurance policies by