Live Insurance News

Washington insurance commissioner bans use of credit score for premiums calculation

February 4, 2022February 3, 2022 Logan B.

Washington insurance - Ban on credit score

Mike Kreidler has adopted a new rule that prohibits the use of credit data, as it is discriminatory. Washington Insurance Commissioner Mike Kreidler has announced that he is adopting a rule that will ban insurers from using an individual’s credit score to calculate their premiums. Kreidler says that using credit scores discriminates against people of color and low-income individuals. That said, even as the Washington Insurance Commissioner seeks to keep the rule in place over the longer term, there is strong opposition in the state Legislature. The rule bans insurers…

GEICO sweetens its insurance jobs with new education benefit

February 3, 2022February 2, 2022 Nordstrom

The new benefit is being offered across the company, eliminating all upfront costs of education. GEICO has announced that it is adding a new education and growth benefit across the company to make insurance jobs even more appealing to the 40,000 existing associates and those considering a position with the company. The education benefit through GEICO Strive is available to current and new associates in the company. Through GEICO Strive, those with insurance jobs with the company will have access to over 220 schools and education providers and will enjoy…

State Farm Insurance company achieves powerful loyalty feat

February 2, 2022February 1, 2022 G. Turner

The insurer performed well in the Brand Keys Silver Anniversary Customer Loyalty Engagement Index (CLEI). Brand loyalty and emotional customer engagement global leader Brand Keys announced that insurance company State Farm has solid achievements in the firm’s Silver Anniversary Customer Loyalty Engagement Index (CLEI). The CLEI 2022 survey recognizes the brands that have held the top loyalty spots for over a decade. This year’s CLEI spotlighted State Farm among the insurance company leaders, having held top loyalty spots for more than ten years. The survey results revealed that there is…

Florida now tops the list for the most expensive auto insurance rates in the country

January 28, 2022January 27, 2022 Logan B.

Auto Insurance - Welcome to Florida Sign

According to a new Coverage.com study, Floridian drivers pay the most in the US for policies. Florida motorists are now the drivers who pay the most for their auto insurance policies every year, according to a recent study. Residents in the state pay an average of $2,600 per year for a year of coverage, more than any other state. Comparatively, the state with the most affordable auto insurance was Maine, where the average driver paid $831 per year. Based on data from The Zebra, an independent comparison website for insurers…

The Most Important Things To Know About High Value Homeowners Insurance

January 27, 2022January 27, 2022 Guest Author

While a standard home insurance policy may provide a passable level of protection, high value homeowners may struggle to enjoy the proper peace of mind. The additional coverage that high value homeowners insurance has to offer alleviates many of the more common concerns but there is a wide range of considerations that need to be made. By taking the time to do the necessary research, it has never been easier for a high-value homeowner to zero in on the coverage that they need. The more protection that a homeowner obtains for…

Allstate insurance company lost $218 million from Marshall Fire in Colorado

January 26, 2022January 25, 2022 G. Turner

Insurance company - money on fire - financial loss

The insurer’s fourth quarter catastrophe losses were about $528 million in total last year. The Allstate insurance company has reported its catastrophe losses for last year’s fourth quarter. Its total was a pre-tax $528 million, with a substantial impact from the loss events that occurred in December, particularly the Marshall Fire in Colorado. December 2021 was a particularly impactful month on the insurer’s total catastrophe losses. Allstate’s pre-tax catastrophe loss estimates were $411 million for December 2021 alone. After tax, that translates to $325 million. The $411 million is a…

Allstate insurance company purchases potential new Chicago headquarters

January 20, 2022January 19, 2022 Nordstrom

Insurance company - making a purchase - deal

The insurer announced that it has purchased the building at 29 N. Wacker, where it might place its HQ. The Allstate insurance company has announced that it is acquiring an office building in the Loop in Chicago. This new location has the potential to serve as the national insurer’s new headquarters following the sale of its former HQ at the Northbrook campus. The announcement has been made under two months from that announcing the sale in Northbrook. The insurance company bought the 29 N. Wacker Drive 10-storey building for an…