Author: G. Turner

Gloria has several articles published on industry trends based on an array of different subjects but specializes within the insurance industry. She has accomplished her top goals of becoming an accredited news journalist that addresses top issues in a way that entertains as well as educates.

State Farm settles life insurance suit with $65 million payment

G. Turner
Life Insurance - Lawsuit - Gavel

The insurer has agreed to pay tens of millions to settle the suit involving overcharges State Farm Life and Accident Assurance Company are issuing life insurance settlement checks as pay out for a class action lawsuit against the companies. The lawsuit was filed in a federal court and involved overcharging accusations Attorneys representing the class action lawsuit accused State Farm in a Missouri federal court of having overcharged its customers for life insurance policies.  The massive settlement involves allegedly overcharging about 450,000 policyholders who purchased universal coverage between 1986 and…

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$350M Ukraine war insurance available from Aon, Development Finance Corp

G. Turner
War Insurance - Recovery Economy - Ukraine Flag

The coverage program is designed to support capital investment and economic recovery in the country Aon and the US International Development Finance Corporation are collaborating to offer a $350 million war insurance program meant to help Ukraine with capital investment and economic recovery. The program is in two main parts The program includes $300 million in coverage for the healthcare and agriculture sectors in Ukraine, and another $50 million in war insurance, that is, additional coverage for the insurers providing protection there. The reinsurance strategy was designed in a partnership…

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Nationwide Insurance to End Coverage for Pet Policies in Major Overhaul

G. Turner
Nationwide Insurance Cancels Pet Insurance Coverage

Nationwide Insurance to Non-Renew Pet Insurance Policies In a surprising move, Nationwide Insurance has announced it will be non-renewing approximately 100,000 pet insurance policies across the United States. The decision, attributed to the rising costs of veterinary care and other financial pressures, was disclosed in a company statement on June 14. The announcement has left many pet owners scrambling, especially those with pets suffering from pre-existing conditions. Nationwide, which began its pet insurance operations under the name Veterinary Pet Insurance (VPI) in 1982, has long been a leader in the…

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State Farm is keeping some California home insurance customers after all

G. Turner
Home Insurance California covered by State Farm

Still, the coverage that they will be receiving won’t be the same as what they’re used to State Farm has announced that it will be making it possible for some California home insurance customers to renew their policies, after having previously announced that it would no longer be selling or renewing property coverage in the state. That said, there is an important change to the coverage it will be providing While this does mean that homeowners will be able to keep their home insurance coverage, they should be aware that…

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North Carolina property owners to see dwelling insurance rate spike by 8 percent

G. Turner
Dwelling Insurance - North Carolina - 8 percent increase

Commissioner Mike Causey announced the average rate increase across the state. North Carolina Insurance Commissioner Mike Causey has announced that following negotiations with the dwelling insurance market, there will be an average 8 percent rate increase across the state. The increase is substantially lower than what was requested The North Carolina Rate Bureau had been seeking an average increase to dwelling insurance rates of 50.6 percent.  That means that following negotiations, it was reduced by 42.6 percent to arrive at the average that will be implemented in the state. This…

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Florida’s home insurance market could suffer deeply if this happens in 2024

G. Turner
Hurricane season Ahead 2024 - Florida

If the hurricane season this year is an active one for the state, policyholders will pay the price Florida’s home insurance market has already been in crisis mode for the last few years, worsening with each passing hurricane season.  If this year is another active one, it could be “detrimental” to the market in the state. Unfortunately, predictions aren’t good Though predictions are far from fact, the current predictive models are indicating that there will be a number of storms during this hurricane season.  This is leading to rising concerns…

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Insurance Exodus Update: Why Iowa is Losing Its Insurers Now

G. Turner
Insurance Exodus - Iowa

The recent departure of multiple insurance companies from Iowa’s homeowners’ market has sent shockwaves through the state. The New York Times reported that insurers are pulling out due to severe financial losses driven by unprecedented weather patterns. This move raises significant concerns for homeowners and demands a closer look at what has led to this exodus. The Insurance Turmoil Caused by Climate Change The insurance turmoil caused by climate change — which had been concentrated in Florida, California, and Louisiana — is fast becoming a contagion, spreading to states such…

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