Tag: disaster recovery

Your Quick Guide to the Day’s Top Insurance News Headlines

Live Insurance News
Insurance news short stories this week

Lemonade’s Car Insurance Waitlist Reaches 700K Lemonade, a leader in the insurtech sector, announced an impressive milestone with 700,000 customers on the waitlist for its car insurance offerings. The service, which is only available in select areas, has generated significant consumer interest due to its tech-driven, user-friendly approach. Lemonade’s business model heavily relies on artificial intelligence to streamline every aspect of the insurance process, from underwriting to claims settlement. This innovation continues to disrupt traditional insurance practices, highlighting the growing appeal of modernized, hassle-free coverage options. To Read More About…

Read More

Helene & Milton vs. FEMA’s Wallet – How Two Hurricanes Changed the Flood Insurance Game

H. Cutner
Flood Insurance - Hurricane Helene and Milton

FEMA Borrows $2 Billion to Cover Flood Claims After Hurricanes Helene and Milton According to an article in the Florida Weekly, the Federal Emergency Management Agency (FEMA) is borrowing $2 billion to cover National Flood Insurance Program (NFIP) claims after back-to-back devastation from Hurricanes Helene and Milton in Florida’s Gulf Coast last year. The sheer scale of damage and the tens of thousands of claims made have underscored the challenges of funding flood insurance in a time of increasingly severe weather. Storms Bring Catastrophic Flooding and Widespread Damage Hurricane Helene…

Read More

$1 Billion Plan to Stabilize The California FAIR Plan Insurance Program

G. Turner
California FAIR Plan Insurance Program Stability plan

Funding the FAIR Plan Without Overburdening Californians To address the financial pressures caused by rising wildfire claims, the California FAIR Plan is set to receive a $1 billion financial boost. Announced by California Insurance Commissioner Ricardo Lara, this initiative balances the need for immediate stability with measures designed to protect policyholders from undue financial strain, ensuring essential support for wildfire recovery efforts continues. The FAIR Plan as a Safety Net The California FAIR Plan provides critical fire insurance coverage to homeowners and renters in high-risk wildfire zones who are unable…

Read More

Governor Newsom Backs Bill to Prioritize Homeowners Benefiting from Insurance Payout Interest

G. Turner
Governor Newsom’s proposed bill regarding insurance payouts

When disaster strikes, recovery often feels like an uphill battle for homeowners. For Californians impacted by the devastating Palisades and Eaton fires, a new piece of legislation proposed by Governor Gavin Newsom could help alleviate some financial burdens. The proposed bill, authored by Assemblymember John Harabedian (D-Pasadena), aims to ensure that homeowners—not lenders—benefit from the interest accrued on insurance payouts for homes destroyed or damaged during disasters. Understanding the Proposed California Insurance Bill Governor Newsom’s proposed bill addresses a gap in California law that currently allows lenders to collect interest…

Read More

Wildfire Survivors Get a Lifeline as California Pushes for Full Coverage Payments

G. Turner
Wildfire Survivors in California

California Insurance Commissioner Calls on Insurers to Ease Wildfire Survivors’ Burdens A Compassionate Plea for Full Coverage Without Detailed Inventories California Insurance Commissioner Ricardo Lara is taking a strong stance to support survivors of recent wildfires in Southern California. Recognizing the emotional and logistical toll of losing a home, Lara has issued a Notice urging residential property insurance companies to provide full contents coverage limits without requiring policyholders to compile exhaustive inventories of their destroyed belongings. “It is inhumane to require wildfire survivors who have lost everything to list every…

Read More

Super Bowl Ads Take a Backseat as State Farm and FireAid Put Communities First

Tate Ellison
Los Angeles wildfires homes and cars totaled

State Farm Reallocates Super Bowl Ad Budget to Support Californians Impacted by Wildfires Southern California continues to deal with the destruction caused by widespread wildfires, which began on January 7, 2025. Amid these challenges, State Farm has decided to redirect its Super Bowl advertising budget to initiatives aimed at helping those affected by the disaster. The company’s efforts include expediting claims, offering premium payment extensions, and deploying their Catastrophe Response Team to provide ground-level assistance. This initiative, combined with the upcoming FireAid benefit concert, highlights a broader focus on supporting…

Read More

5 Reasons Small Businesses Should Migrate to the Cloud

Guest Author
small businesses how to

We are living in a world of ones and zeros and as we move into a new dimension of digital connectivity, every business should be connected to the cloud. Storing your data on a secure remote server makes total sense, a lot safer than storing it on your office hard drives and with that in mind, here are a few compelling reasons to migrate your business data to the cloud. Bookkeeping & accounting – Once you have a secure cloud network, create a username and password for your accountant for…

Read More