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“They stopped renewing what they thought was sh*tty risk,” Los Angeles insurance agent Carla Ramirez said of the big carriers, which have declined to renew homeowner policies or stopped ...
Insurance, in general, is an industry people love to hate. It feels like a con: You pay good money for premiums and seemingly get nothing in return if you don’t experience the insured event. But ...
Insurance fraud refers to any intentional act committed to deceive or mislead an insurance company during the application or claims process, or the wrongful denial of a legitimate claim by an insurance company. It occurs when a claimant knowingly attempts to obtain a benefit or advantage they are not entitled to receive, or when an insurer ...
Major insurers have pulled back from California's homeowners market, citing wildfires, inflation and other challenges. But there are steps at-risk homeowners can take now to secure coverage and at ...
Insurance bad faith is a tort [1] unique to the law of the United States (but with parallels elsewhere, particularly Canada) that an insurance company commits by violating the "implied covenant of good faith and fair dealing" which automatically exists by operation of law in every insurance contract.
Independent agents are independent contractors for the insurance companies they represent. Several companies may authorize the agent to sell for them, but the agent remains an independent businessperson. While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with ...
Car insurance premiums in America are through the roof — and only getting worse. But less than 2 minutes can save you more than $600/year 5 minutes could get you up to $2M in life insurance ...
Together they looted the company of more than $80 million. In order to finance the lavish executive salaries while still paying the annuities and insurance agent commissions, GSLIC management invested in high-yield, high-risk junk bonds. In 1991, the junk bond market collapsed, causing the company to become insolvent.