Texas storm will cost billions for U.S. insurance companies

With billions of dollars in damage expected from the historic Texas winter storm, a state regulator plans to collect data from property insurers to assess costs stemming from a crippled electrical grid, roofing collapses, broken pipes and other problems, a spokesman said on Friday.

“We expect this to be a large event, but we just don’t know how large it will be,” said Texas Department of Insurance spokesman Ben Gonzalez, noting that

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DTC Insurance Company Lemonade Uses Art To Connect With Its Youthful Customers

Lemonade’s Instagram art

The insurance market is highly competitive, with big marketing budgets and highly recognizable mascots – like the Geico gecko and Progressive’s Flo.

The direct-to-consumer insurance company Lemonade (which went public in July) started four years ago in New York City offering renters’ insurance – the type of $60 per year policies  the  big guys didn’t want to bother with.

Lemonade’s strategy is to sign up customers for its inexpensive renters’ insurance policies, and keep them happy with customer service features like three-second, automated claims payouts. When those customers buy a home, adopt a pet or buy life

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No exam life insurance: Pros and cons

(CNN) —  

When it comes to life insurance, both you and your life insurance company are basically making a business wager. Your side of the bet is that the total you’ll pay in premiums during the life of the policy will be lower than the benefit your family receives if you die while your policy is in force. Yet the life insurance company is betting the reverse — that you’ll pay more in premiums and fees than it’ll have to pay out at the end, or that your policy will expire before you die so no benefit ends up being

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Wisconsin would start health insurance marketplace, public option under Gov. Tony Evers’ budget | Local News

The Affordable Care Act’s federal marketplace is at

Wisconsin would create a state-based health insurance marketplace and a public option plan in which people likely could buy into BadgerCare, the state’s main Medicaid program, under Gov. Tony Evers’ proposed budget.

The moves could save the state money and provide insurance for many who might lose coverage if the Affordable Care Act is struck down, the governor’s office said. Twenty-one states have state-based marketplaces and at least two — Colorado and Washington — are known to be pursuing public option programs.

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Utahns drove much less during 2020 because of the pandemic and its stay-at-home orders. But a new study says their auto insurance rates rose anyway.

An increase in claims could be the driver.

(Rick Egan | Tribune file photo) Traffic on 400 South in Salt Lake City on Tuesday, Jan. 5, 2021.

Utahns drove much less during 2020 because of the pandemic and its stay-at-home orders. But a new study says their auto insurance rates rose anyway.

That comes as premiums nationally had dropped an average of 4% during the pandemic, according to The Zebra’s fifth annual State of Auto Insurance Report looks at premiums across all 34,500 zip codes in the nation. The Zebra
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The facts about AARP long-term care insurance

MarketWatch has highlighted these products and services because we think readers will find them useful. This content is independent of the MarketWatch newsroom and we may receive a commission if you buy products through links in this article.

Key Takeaways:

  • AARP endorses certain long-term care insurance policies underwritten by New York Life. These policies are specially marketed to AARP members.
  • AARP long-term care insurance policies include traditional, stand-alone policies, and hybrid policies (which combine life insurance with long-term care benefits).
  • AARP long-term care insurance policies are priced according to age, gender, health status, and level of coverage.
  • Long-term care insurance
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