insurance

US consumers continue to shop and switch auto insurance at higher rates, reducing carrier retention rates

US consumers continue to shop and switch auto insurance at higher rates, reducing carrier retention rates

According to the LexisNexis Insurance Demand Meter, a “hot” Q4 of 2023 means continued rate hikes along with improved compounding ratios, and now opens a window for insurers to take advantage of continued shopping as they look for a return to profitability in 2024. ATLANTA, February 21, 2024 /PRNewswire/ — Key findings US auto insurance …

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Livestock insurance offers hope to drought-stricken Somalis

Livestock insurance offers hope to drought-stricken Somalis

The drought has left pastoralists particularly vulnerable to economic ruin EDUARDO SOTERAS Text size A record drought has wiped out almost half of Iido Abdikarin Abdile’s herd in northern Somalia, but a livestock insurance program is helping ease the financial burden on herders like her. After the death of her father in 2010, the 34-year-old …

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Truist is selling the last part of the insurance business.  Now what?

Truist is selling the last part of the insurance business. Now what?

Enjoy free access to top ideas and insights — handpicked by our editors. Truist’s agreement to offload the rest of its insurance business comes just weeks after it announced a $70 million deal to sell its asset management subsidiary. Both moves are part of the bank’s strategy to become leaner and more efficient.Scott McIntyre/Bloomberg Truist …

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Has our economy’s investment cycle finally turned?

Has our economy’s investment cycle finally turned?

A frequently asked question is whether private sector investment is on the way or not. The best answer is a shrug, as the signals available vary. It is commonly argued that when a government spends heavily on infrastructure, it crowds out private investment. Construction means more business for sectors like steel, cement, capital goods, etc., …

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“Garbage Insurance” Part 2: Coverage and its frustrations

“Garbage Insurance” Part 2: Coverage and its frustrations

Is short-term, limited-duration insurance a viable option in a broken system? As mentioned in Part 1, short-term limited-duration insurance (STLDI) is “health coverage provided under a contract with an issuer that has an expiration date specified in the contract … taking into account renewals or extensions.” STLDI provides protection from gaps during health insurance coverage …

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Do you need moving insurance?  News from the USA

Do you need moving insurance? News from the USA

Key takeaways: Your homeowners policy may not cover your belongings while they are being packed or transported by professional movers. Coverage offered by moving companies is not insurance and is not governed by state insurance laws. Federal law requires professional movers to offer you exempt value and full coverage for your belongings. Exempt value pays …

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What is Rideshare Insurance?  News from the USA

What is Rideshare Insurance? News from the USA

Key findings Rideshare insurance is designed for drivers working with transportation network companies. Cover is usually affordable and offered by most major car insurers. How does Rideshare insurance work? Personal auto policies typically exclude a vehicle when used with a transportation network company, and the company’s coverage may be limited or conditional depending on the …

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