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Auto Insurance: Strategies to Save

Money Talk

One of the largest items in household budgets is car insurance. According to Bankrate, the average annual cost of car insurance in June 2022 was $1,771 per year ($148 per month) for full coverage and $545 for just the minimum coverage required by state law. Do you want to save money on car insurance without sacrificing needed coverage?

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Umbrella Insurance: Do You Need It?

Money Talk

Like an umbrella that covers your head to protect you from a rainstorm, an umbrella liability policy “covers” your other property insurance, thereby providing additional protection. To summarize, umbrella insurance protects policyholders’ assets from large claims when they are found at fault.

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4.4 million employees are covered by corporate health insurance

Employee Benefits

More than four million people are now covered by health insurance through their employer, according to data from the Association of British Insurers (ABI). The number of employees benefitting from health insurance increased by 8% from four million in 2021 to 4.4 million in 2022. million in 2022, the highest number since 2008.

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More Insurers Scale Back on Prior Authorizations

InterWest Insurance Services

Some of the nation’s largest insurers have announced plans to roll back their prior authorization requirements for medical services. Health insurers have lists of services that require prior approval, in order to control their costs. Many of these changes took effect immediately and some will start in 2024.

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State Unemployment Insurance Taxable Wage Bases for 2024

PayrollOrg

Learn which states have released their state unemployment insurance taxable wage bases for 2024 in a chart provided and updated by PAYO.

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Commercial Auto Insurance Rates Spiking

InterWest Insurance Services

Skyrocketing claims costs and higher accident rates are pressuring the commercial auto insurance market, as insurers impose increasingly larger rate hikes and more are pulling out of the market or restricting who they will cover. According to the National Insurance Crime Bureau , there were 64,000 such theft claims in the U.S.

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Pay Attention to Exclusions in Cyber Insurance Policies

InterWest Insurance Services

While cyber threats grow and the cyber insurance market evolves, insurers are regularly adjusting their policy terms and conditions in response to new threats and exposure. All respondents had at least one attack-related expense that wouldn’t be paid for by cyber insurance.