Tag: Insurance
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Nationwide Cancels Pet Insurance for 100,000 Customers: Impact Explained
Nationwide Insurance has announced plans to cancel pet insurance coverage for approximately 100,000 customers between spring and summer next year. The decision, attributed to rising veterinary costs and other financial factors, marks a significant change affecting pet owners across the United States. Impact on Pet Owners Christie Keith, a freelance writer based in Michigan, shared…
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North Carolina Commissioner Secures 8% Dwelling Insurance Increase
North Carolina Insurance Commissioner Mike Causey has announced a significant development in the state’s insurance landscape, negotiating an average statewide 8 percent dwelling rate increase. This move comes in response to a request by the NC Rate Bureau for a much larger rate hike. Pushing Back Against Rate Hike Request In a move to protect…
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Two Insurance Companies Withdraw from California Market
Two major insurance companies, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., have announced their intention to withdraw from the insurance market in California, according to filings from the state’s Department of Insurance. Withdrawal Plans Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., both subsidiaries of Tokio Marine Holdings Inc., a…
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Florida’s Citizens Insurance Sees Drop in Policy Counts
After years of rapid increases, Florida’s state-backed insurer of last resort, Citizens, is finally experiencing a decline in policy counts, signaling positive momentum for the state’s property insurance market. This trend comes as a relief, especially considering the market’s previous struggles. Positive Shift in Insurance Landscape With more than one million Floridians still covered by…
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State Farm Non-Renews Thousands of Policies in California
State Farm General Insurance Company’s recent announcement detailed its intention to non-renew a substantial number of property insurance and commercial apartment policies in California, affecting thousands of policyholders across the state. Concentrated Nonrenewals The decision, revealed in March, targets approximately 30,000 property insurance policies and 42,000 commercial apartment policies. Recent filings with the California Department…
