Health Insurance


Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Odds are, motorists are bound to get ticketed for some kind of moving violation at some point. How much that ticket will cost can be minimal, but its impact on insurance premiums can be significant.

Overall, the more a driver puts themselves and others at risk, the costlier their insurance policy will be.

For instance, drivers who get ticketed for forgetting to turn on their lights pay an average of $68 more per year for car insurance than drivers without any violations on their record, according to The Zebra. Drivers who get a ticket for speeding in a school zone will see an average insurance increase of $342 per year.

The riskiest violations, however, can more than double an existing auto premium. Depending on the state or city, the same offense could increase rates by 36% or by 383%. Moreover, high-cost penalties hit drivers twice as hard in low-income states, The Zebra researchers said.

Focusing on the greatest threats to insureds, six violations cost drivers over $1,000 a year in rate hikes and have the biggest impact on auto insurance premiums.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/08/12/common-traffic-tickets-that-raise-car-insurance-rates/?kw=Common%20traffic%20tickets%20that%20raise%20car%20insurance%20rates%20the%20most&utm_campaign=newsroomupdate&utm_content=20200812&utm_medium=enl&utm_source=email&utm_term=pc360

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

If you want this coverage, now it will cost so much more. The existing coverage requires property damage to have occurred like a fire or Hurricane. This coverage was always available at a higher premium, but most never want to pay for it till needed.

The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus.

In a case brought by the owner of several restaurants against its insurer over business interruption due to the coronavirus shutdown ordered by the mayor, a District of Columbia Superior Court judge has sided with the insurer, ruling that the restaurant’s insurance policy is not triggered because the shutdown did not amount to direct physical loss.

Finding that the plaintiff restaurants failed to prove there was any direct physical loss, Associate Judge Kelly Higashi on Thursday granted a summary judgment in the suit in favor of Erie Insurance Exchange.

In March, D.C. Mayor Muriel Bowser issued several orders. They included a ban on indoor dining, the closing of all non-essential businesses, and an order for residents to shelter-in-place. Rose 1 had to close its restaurants as a result.

Please enjoy the full article below;

https://www.insurancejournal.com/news/national/2020/08/07/578232.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Citizens originally stopped these processes on March 27 “to ease the burden for policyholders” due to the impact of the COVID-19 health risk.

The insurer said direct-billed customers with past-due premium accounts must make a payment to avoid cancellation by August 15. For policyholders who are unable to pay their past-due amount, Citizens will allow them to make a payment arrangement. This option is available only to COVID-affected policyholders with past-due balances, and they must contact Citizens by August 15 to initiate the arrangement.

Payment arrangement options are not available for new business or current policyholders who have less than three months remaining in their policy term.

Citizens said it would immediately email impacted agents and provide policy lists and details regarding payment options, as well as mail/e-mail eligible past-due policyholders with payment options and related information. It will also contact via mail or e-mail ineligible policyholders with information that their policy will cancel if payment is not received by August 15.

If a customer’s coverage is no longer is needed, agents should cancel it in PolicyCenter as soon as possible, Citizens said.

Additionally, Citizens has developed special payment arrangements for eligible policyholders affected by COVID-19. Specific details are available on its website. The special payment arrangement will divide the past-due amount evenly by the number of months left in the term. The option is available for its commercial and personal lines products, except for new business or for current policyholders who have less than three months remaining on their policy term.

Please enjoy the full article below!

https://www.insurancejournal.com/news/southeast/2020/07/14/575403.htm#

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

At WeInsure, since we carry National General, we will soon also be able to sell Allstate policies!!!!!

U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and reduced claims.

National General’s shareholders will receive $32 per share in cash and closing dividends of $2.50 per share for each share held. This would imply a total deal value of $3.92 billion and a premium of about 69% to National General’s Tuesday close, Reuters calculations showed.

Please enjoy the full article below;

https://www.insurancejournal.com/news/national/2020/07/08/574808.htm#

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Within the past few months, experts in all industries have analyzed the ways the coronavirus pandemic will affect their business environments. Insurance is no different.

As the pandemic’s impact on the insurance market gradually unravels, experts can turn to various indicators to determine how much the industry has been affected thus far.

Consider USI Insurance Services’ recently released “Q2-2020 Commercial Property & Casualty Insurance Market Outlook Report,” which highlights key industry trends amidst ongoing COVID-19 challenges.

“While it is too soon to determine the full impact of COVID-19 on the property & casualty insurance industry, markets are facing unique and interrelated challenges that industry insiders feel will continue through 2020 and well into 2021,” Robert Meyers, senior vice president, property & casualty leader at USI, said in the report. ”In fact, as rate increases, capacity reductions, and other negative trends continue to harden the market, the industry faces a number of challenges and uncertainties resulting from the ongoing COVID-19 pandemic. The property, umbrella/excess liability, casualty, and directors & officers (D&O) liability markets are currently dealing with the most significant issues.”

Among USI’s findings is the reveal that all segments of the property sector are experiencing higher rates, capacity restrictions/limitations, and other challenges resulting from excessive underwriting submissions, virus claims and lawsuits, and more.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/07/06/pc-insurance-market-outlook-q2-2020/?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Most Fla. property owners will likely pay more when their policies renew, as insurers pass along increasing costs of coverage they need to pay claims after a disaster.

FORT LAUDERDALE, Fla. – Florida homeowners, already paying nearly the highest home insurance rates in the nation, should get ready for more sticker shock if and when their policies next renew.

Premiums for most Florida property owners are poised to jump again – sharply – as insurers pass along skyrocketing costs of coverage they need to pay claims after a catastrophic hurricane or other weather event.

That coverage is called reinsurance. It’s insurance that insurers must buy to prevent them from going broke – and to make sure you get paid – after a disaster.

By the June 1 start of every year’s hurricane season, insurers negotiate new reinsurance contracts for the upcoming year. Global capital firms provide the coverage, financed by investors who hope their outlay brings them a higher percentage of profit than if they had left the money in stocks, bonds or other investments.

This year, reinsurance prices increased 20% to 30% in Florida, and averaged 26.1% for companies that cover the most vulnerable catastrophe zones in the U.S., according to a report from artemis.bm, a reinsurance-focused news website.

The increases are the steepest in Florida in more than a decade and are similar to increases that drove up rates for policyholders after the 2005 hurricane season, the report stated, adding that companies hit hardest by claims and lawsuits in recent years faced increases of more than 45%.

Big hikes coming for policyholders

Industry experts say the increases soon will trickle down to Florida property owners who already pay $3,643 on average a year to insure their homes. That’s nearly $1,338 more than the national average

Please enjoy the full article below;

https://www.floridarealtors.org/news-media/news-articles/2020/06/insurance-firms-ready-charge-more-money-storm-season

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Retroactive business interruption measures could bankrupt US insurers in two months

Global pandemics like COVID-19 have been deemed uninsurable by private insurers. The sheer size and unpredictability of pandemic events makes them nigh on impossible for the industry to apply a standard underwriting practice to. For that reason, most standard insurance contracts around the world include clear policy wording that excludes coverage for pandemic and communicable diseases.

Despite common virus and bacteria exclusions, a significant number of lawsuits and class actions have been filed against US insurers for denying business interruption claims resulting from coronavirus-related losses. The industry has taken a united stance in that they cannot pay claims on insurance policies for which they collected no premiums due to the virus and bacteria exclusions, but that has not stopped some policymakers from suggesting retroactive measures that would essentially force insurers to rewrite contracts and pay out business interruption losses.

The suggestion of retroactive measures has caused major concern in the industry, with executives like Chubb CEO Evan Greenberg suggesting it would “bankrupt the industry”.

Please enjoy the full article below:

https://www.insurancebusinessmag.com/us/news/breaking-news/retroactive-business-interruption-measures-could-bankrupt-us-insurers-in-two-months-225240.aspx?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Insurers are opposing the consolidation of more than 100 federal lawsuits filed by companies arguing that they should receive business interruption coverage stemming from COVID-19 shutdowns.

The insurance industry has filed more than 24 briefs opposing multidistrict litigation, following in the footsteps of arguments posed in a brief by two Chubb affiliates that stated consolidation would complicate and prolong the litigation, according to Reuters. The insurers were joined by plaintiffs’ firms, some with MDL experience, who also don’t want their cases moved to a nationwide, multidefendant proceeding.

Please enjoy the full article below;

https://www.insurancebusinessmag.com/us/news/breaking-news/insurance-industry-rises-up-against-business-interruption-lawsuits-224651.aspx?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

On Wednesday (June 3), the U.S. Senate cleared changes to the Paycheck Protection Program that provides more flexibility to small businesses using the relief loans. The changes to the PPP include extending the eight-week period in which funds must be spent for forgiveness to 24 weeks, as well as extending the repayment period money owned from two years to up to five years.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/06/05/sp-small-businesses-still-hurting-despite-ppp-414-180242/?ref=insurancedailynews&slreturn=20200509110148#

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment positions.

However, recent years of hefty damage from hurricanes and high claims due to the pandemic mean property rates at a key June 1 renewal date are expected to get pushed up by as much as 50%, providing an income boost.

Meteorologists are forecasting that the Atlantic 2020 hurricane season, which officially finishes on Nov. 30, will be above average.

“What we’ve seen over the past couple of years is an increase of (storm) losses from a frequency and severity perspective,” said Susan Fallon, Global Head of Property at Zurich Insurance Group.

“There’s an expectation we will see increased rates.”

Please enjoy the full article below;

https://www.carriermanagement.com/news/2020/06/01/207322.htm?ref=insurancedailynews

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