Live Insurance News

Why 99% of Term Life Policies Never Pay Out And What Farmers’ Lawsuit Tells Us

March 25, 2025March 26, 2025 Tate Ellison

Consumer Protection in Focus: The Farmers Life Insurance Lawsuit A high-stakes legal battle is brewing in California as Farmers New World Life Insurance Company faces allegations of overcharging policyholders and improperly lapsing policies. The class action lawsuit, filed on March 18, 2025, in California Superior Court for Los Angeles County, accuses Farmers of engaging in predatory practices that left many policyholders vulnerable. While the case is still in its preliminary stages, it has already sparked critical discussions about consumer rights and corporate accountability in the insurance industry. Understanding the Allegations…

Are Lithium-Ion Batteries Putting Homes at Risk During Natural Disasters?

March 24, 2025March 23, 2025 Marc

Understanding the Risks: Lithium-Ion Batteries in Natural Disasters Lithium-ion batteries have become indispensable to modern life, powering everything from smartphones and laptops to electric vehicles (EVs) and large-scale energy storage systems. The global demand for them is projected to grow by an estimated 30% annually until 2030. However, as their presence becomes more pervasive, so do the risks they pose in the context of natural disasters. Natural disasters such as hurricanes, floods, and wildfires can severely compromise the safety of lithium-ion batteries. When exposed to conditions like saltwater submersion or…

Pet Insurance Fraud in the US: A Growing Problem Impacting Policyholders and Pets

March 21, 2025March 21, 2025 G. Turner

Pet insurance, once a trusted safety net for unexpected vet bills, is now facing an unsettling challenge in the United States. Fraud within the industry is on the rise, and its implications stretch far beyond the perpetrators and insurers. With insurance fraud costing Americans $308.6 billion annually—that’s $932 for every single person in the US each year—we’re not talking about pocket change. Fraudulent pet insurance claims, in particular, are compounding industry challenges and hitting honest pet owners where it hurts most—in their wallets and their trust. From exaggerated claims to…

How a Policyholder Took on USAA in Court and Won Big

March 19, 2025March 19, 2025 Logan B.

A Shocking Decision: $100 Million in Punitive Damages, $14 Million in Compensatory Damages Insurance giant USAA has landed in the spotlight after a Nevada jury handed down a monumental $114 million verdict in a bad faith lawsuit. The award, which includes $100 million in punitive damages and $14 million in compensatory damages, arose from its handling of a claim for policyholder Timothy Kuhn following a car accident in 2018. The jury’s decision underscores a growing tension between insurers’ claims-handling practices and their legal obligations to their customers, raising questions about…

Tornado Outbreak in the Midwest Leaves Devastation in Its Wake

March 18, 2025March 18, 2025 Marc

The Human Cost of Tornado Devastation Over the course of three harrowing days, a series of tornadoes tore across nine states in the Midwest and South, leaving heartbreak and destruction in their wake. The storm system, which spawned over 50 tornadoes ranging in strength from EF-2 to EF-4, claimed more than 40 lives. Communities—from small towns in Missouri to remote hamlets in Mississippi—are now grappling with the aftermath of this natural disaster. Among the hardest-hit areas was Mississippi, where an EF-3 tornado tore through the small community of Plantersville. Winds…

California Approves State Farm Massive Insurance Rate Hike Amid Consumer Pushback

March 17, 2025March 17, 2025 Nordstrom

State Farm’s Controversial Rate Hike: What You Need to Know California homeowners could see a significant increase in their insurance premiums following a provisional decision by Insurance Commissioner Ricardo Lara. On March 14, 2025, Lara announced preliminary approval for a 22% rate hike on State Farm’s homeowner insurance policies. This decision hinges on conditions set by the commissioner and a public hearing, scheduled for April 8, where State Farm must justify its request. The proposed hike could raise premiums for renters and condo owners by 15% and landlord coverage by…

Jason Bateman’s State Farm Batman Parody Brings Humor and Star Power to Advertising

March 14, 2025March 14, 2025 Angela Linders

Bateman Meets Batman in a Creative Spin on Heroics Jason Bateman has donned many hats in his illustrious career, from a money-laundering family man in Ozark to a sly fox in Zootopia. But his latest role takes a more tongue-in-cheek turn. The Emmy-winning actor stars in a new State Farm commercial where he humorously parodies Batman—but with a twist. Playing the hilariously ineffective “Bateman,” his version of the caped crusader might have all the gadgets, minus the charisma (or effectiveness). The ad reimagines Gotham City with Bateman zipping around on…