How California's catastrophic wildfires are inflaming the state's insurance crisis
The wildfires scorching Southern California are reducing entire neighborhoods to ashes, destroying expensive real estate and exacerbating an insurance crisis that predates the inferno. As the Los Angeles area disaster continues to unfold, costs are rapidly escalating, and AccuWeather's Global Weather Center is now estimating the total damage. Between $250 billion and $275 billion. The […]
California’s homeowners insurance industry faces rough road ahead as wildfires continue
California wildfires have created an unprecedented insurance crisis. (iStock ) The California wildfires have caused widespread disaster in Southern California communities. This also contributes to the severe insurance crisis occurring in the state. Many insurance companies have withdrawn from the state or suspended coverage. AIG left the state in 2022, but Chubb and Allstate have […]
Currys says national insurance change has caused period of ‘depressed hiring’ | Currys
Currys has announced it is entering a period of “employment downturn” as it introduces more automation and changes to employers' national insurance, but the consumer environment is set to change over Christmas, with shoppers picking up coffee machines. During the period, he said, “I felt better.'' Laptops with AI. The electronics retailer announced it would […]
Senate Banking Republicans eye changes to key insurance program after fires
Republicans on the Senate Banking Committee are in the early stages of drafting a bill that would include changes to the National Flood Insurance Program (NFIP) and aid for victims of other natural disasters. Sen. John Kennedy (R-Louis.) told The Hill on Tuesday that he and Sen. Mike Rounds (R.S.D.) will be joining Senate Banking […]
Which insurance companies have the most exposure in California?
Barron's Roundtable panelists Alyssa Collum, Ben Levithorn and Al Root discuss the top three stories investors need to know this week. The deadly wildfires that devastated the Greater Los Angeles area in Southern California last week are estimated to be the costliest in the state's history, and insurance companies operating in the state face significant […]
Hollywood Mogul Tyler Perry Blames Insurance Companies Instead of California Democrats for Cancellations
Hollywood mogul Tyler Perry is blaming “greedy” insurance companies, not the California Democratic Party, for people losing their homes and not having fire insurance. “It was heartbreaking to watch my daughter use a garden hose to try to protect her 90-year-old home because her insurance had been terminated,” Perry said. I wrote On Instagram. “Who […]
Lawsuit — ‘The View’ co-Host Sunny Hostin’s Husband Accused of Insurance Fraud
The View Co-host Sunny Hostin's husband has been named along with 200 co-defendants in a massive $459 million insurance fraud lawsuit in New York. fox news report Orthopedic surgeon Emanuel “Manny” Hostin was also named in a lawsuit filed last month by American Transit Insurance Company, a New York-based commercial auto insurer that provides insurance […]
New AI tool for fighting health insurance denials could save hospitals billions, and help patients – CNBC
Waystar Team Celebrates IPO on Nasdaq 2024 Nasdaq, Inc. / Vanja Savic medical payment company Waystar announced Monday a new generative artificial intelligence tool that will help hospitals quickly tackle one of their most expensive and tedious responsibilities: combating insurance denials. According to one report, hospitals and health systems spend about $20 billion a year […]
Insurance Industry Leader Fires Back at Kamala Harris’s L.A. Fire Claims
Insurance industry leaders have responded to Vice President Kamala Harris' claims that insurers have abandoned “many families who have been and will be harmed” by the Los Angeles wildfires, calling them “false and The group is protesting, calling the statement “wrong and dangerous.” . “Many insurance companies are cutting off coverage for many families who […]
Virginia mom who lost arm in shark attack learns insurance won’t cover $73K prosthetic hand
Her insurance company shark won't give her a new arm. A Virginia mother of three who lost most of her left arm in a shark attack in June 2024 received payment for the $73,000 myoelectric prosthetic hand she was told she would receive on Christmas Eve in October. I recently learned that the health insurance […]