Think You're Not at Risk of Flooding? Think Again.
Posted: August 30, 2018
What you need to know about flood insurance. People tend to underestimate their flooding risk, says Lynne McChristian, a consultant with the Insurance Information Institute, a nonprofit group. Ninety percent of all natural disasters—especially hurricanes—include some form of flooding, and roughly 20 percent of claims processed by the National Flood Insurance Program (NFIP) are from areas considered at low or moderate risk of flooding (when...
More Drivers Are Going Uninsured, Putting Others at Risk
Posted: July 19, 2018
Despite the fact that nearly all states require auto insurance, nearly one in eight U.S. drivers doesn’t carry it, according to the Insurance Research Council. The percentage of uninsured drivers ranges from 4.5% to 26.7% across the U.S. States with the highest percentages include Florida, Mississippi, New Mexico, Michigan and Tennessee, which all report more than 20% of drivers go without insurance. The alarming number of drivers...
What to Know When Adding a Teen Driver to Your Car Insurance Policy
Posted: July 3, 2018
Older people just love generalizing about younger generations, but there’s one stereotype that is painfully true: Young people are terrible at driving. Unfortunately for parents who add teenagers to their insurance policies, that bad driving can prove costly, even if young drivers never get into trouble. A study commissioned by insurance pricing site insuranceQuotes looked at how much it would cost a family to add a driver...
Hurricane season bears down — with 7 million homes at risk and a flood insurance program set to expire
Posted: June 4, 2018
The final tallies for the 2017 hurricanes aren’t in yet. If the start of summer has you trying to reason with hurricane season, you’re not alone. Millions of homes across the U.S. sit in harm’s way, and the resulting damage could be in the trillions of dollars, according to a report out Thursday. Those estimates come from real-estate data provider CoreLogic, and are based on...
New York Board Proposes 11.7% Decrease in Workers’ Comp Rates
Posted: May 31, 2018
The New York Compensation Insurance Rating Board (NYCIRB), a non-governmental rate service organization, has proposed an 11.7% decrease in the overall loss cost level in New York State. The change was proposed in its 2018 loss cost filing with the New York Department of Financial Services (DFS) and is subject to DFS review and approval. If approved, it will become effective on October 1, 2018....
