Insurance plan premiums

Illinois sued State Farm Fire and Casualty Insurance Co. to force it to provide information for an investigation into the company's rapidly rising premiums for homeowners.

Jonathan Todd, partner at Benesch Law and Phil Nester, senior managing associate at Benesch Law shared responses on how current and proposed tariffs could impact the insurance industry.

Several factors are contributing to rising insurance premiums for homeowners.

The latest Insurance Personal Lines Trends and Perspectives Report from TransUnion.

The North Carolina Rate Bureau, representing home insurers, settled for two 7.5% increases this year and next, after originally seeking a 42% rate increase. NCRB says the settlement just postpones the need for higher rates to accurately cover risks, while the insurance commissioner calls it "a big win" for homeowners.

New York Governor Kathy Hochul proposed measures to stabilize the city's taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance Co.

Seven out of the 12 biggest home insurers have limited their coverage in California over the past two years; increased fire risk driven by climate change is part of the reason.

In 2023, the average premium jumped about 20% on average, according to the Insurance Information Institute.

To improve future performance the industry must sharpen its ability to successfully navigate trends.

Tips for agents as they help consumers navigate the current landscape.

The quest for money-saving alternatives reflects a rapid run-up in insurance premiums in recent years, driven partly by the rising cost of car parts and repairs.

Over three-fourths, 76%, of consumers have reviewed their insurance policies in the past six months or plan to do so by the end of the year, according to Nationwide's 2024 Economic Impact research.

The average premium for homeowners insurance in the US is expected to hit $2,522 by the end of the year, driven largely by intensifying natural disasters, rising reinsurance costs and higher fees for home repair, according to Insurify, a Massachusetts-based insurance-comparison platform.

A new J.D. Power report points to rising premiums and difficulties in getting coverage as reasons for a chill on auto insurance consumers shopping and switching habits. Digital Insurance spoke with Stephen Crewdson of the automotive data company.

The top three insurtech-owned carriers had more than $10 billion combined in direct premiums written.

The top three infractions have an average insurance premium increase of 103% after the infringement.

In the six states where credit score matters the most, a driver with no credit pays on average 94% more for car insurance than a driver with exceptional credit.

In the five states where credit score matters the least, a driver with no credit pays on average just 11% more for car insurance than a driver with outstanding credit.

The top five states have an average insurance premium increase for a DUI conviction of $1,366.80.

Because of the financial risk associated with insuring such an expensive satellite, ViaSat-3 is probably covered by several policies across different companies.