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Washington State Requires Insurers to Better Explain Auto, Home Rate Increases | Insurify

Home and auto insurers in Washington state will have to provide renewing policyholders with specific reasons why their premiums are increasing under a new rule from the state’s Office of the Insurance Commissioner. The rule takes effect in two phases. The first, effective June 1, 2024, requires insurers to

Does Homeowners Insurance Cover Fourth of July Fireworks Damage? | Insurify

Fireworks caused an estimated 12,264 fires in 2021, including 2,082 structure fires and 316 vehicle fires, according to the National Fire Protection Association (NFPA). Despite the risks, Americans love setting off fireworks. Consumers spent $2.2 billion on 246.5 million pounds of fireworks in 2023, the American

Nearly 33M Coastal Homes at Risk From ‘Very Active’ Hurricane Season, Report Says | Insurify

Hurricane season is here, and more than 32.7 million homes on the U.S. Gulf and East Coasts are at risk from hurricane damage. If the almost unimaginable happened and all sustained catastrophic damage, it would cost nearly $11 trillion to rebuild them, according to a new report by

General Motors Faces Lawsuits for Allegedly Sharing Driver Data With Insurers | Insurify

General Motors (GM) is facing lawsuits in four U.S. states for allegedly sharing consumer data with insurers without drivers’ permission or knowledge. The sharing allegedly happened through brokers. Plaintiffs allege GM violated privacy laws and the Fair Credit Reporting Act by relaying driving data through intermediaries, like LexisNexis and

Texas Home Insurers Send Non-Renewals as Hurricane Season Approaches | Insurify

Some Texas homeowners are getting an unwanted letter in the mail. The messages are coming from insurers notifying recipients in hurricane risk areas that their homeowners insurance policies will not be renewed, all as hurricane season approaches. This has left some homeowners scrambling to find a new policy before their

California OKs Predictive Modeling for Home Insurance Rates | Insurify

Home insurers in California may soon be able to use computerized processes that simulate thousands of possible natural catastrophes to help them set rates — but only if they commit to doing a significant amount of business in areas at high risk for wildfires. Since 1988, the state’s Proposition 103

USAA Favors Officers, Potential Class Action Suit Alleges | Insurify

USAA provides favored financial and member status to military officers, according to allegations in a complaint filed with the U.S. District Court for the Western District of Texas. USAA categorizes members into unofficial membership groups of “real” and “fake” or “nominal,” claim the six USAA policyholders who filed the