Category: Uncategorized

During COVID-19, there was a drastic decrease in vehicles on the road, which raised concerns among personal and commercial vehicle owners that they were overpaying for the cover of vehicles that never left the driveway. In many ways, concerns like that led to the rise of the usage-based insurance (UBI) concept, where premiums are charged… Read more »

Condo association insurance offers a broad range of coverages. It typically covers the common areas – the structure of the building and the land where the condo is situated. Every condo association’s insurance term and by-laws are different. Therefore, one has to carefully analyze and determine where the responsibility of the individual condo unit ends,… Read more »

The average expenditure on auto insurance has been rising for almost a decade now. On average, the liability premium grew by 30% from 2014 to 2018. The incurred losses due to car accidents were over $96.8 billion in 2017. The number would be even higher now, considering the inflation and the number of accidents. The larger chunks… Read more »

Before buying an insurance policy for your vehicle, it is crucial to know the difference between how commercial and personal auto insurance works. Depending on the purpose for which the vehicle is going to be used, owners should select auto insurance.  Both insurance policies have different criteria regarding coverage, claims, premium, payout, and more. Let’s… Read more »

Wildfires in the US are currently a massive concern for citizens and government agencies alike. They are triggered by both natural means and human activities, leading to considerable losses. According to a report, 85% of wildland fires are caused by humans, with burning debris, unattended campfires, equipment malfunction, etc., among the top reasons.  Besides these, unplanned forest… Read more »

At the time of writing, the inflation rate in the US is at 9.1%, per data released by the US Labor Department. To that end, a lot can change with insurance needs in a year, especially with inflation, where the cost of everything from products to services increases. Therefore, it’s essential for every insured personnel and… Read more »

Over 80% of Americans lost money due to trip cancellations during the pandemic. Naturally, Covid-induced uncertainties have bolstered the case for travel insurance which is witnessing a boom, with over 50% or more travelers readily accepting this travel essentiality.  So, what exactly has changed? With travel being so tricky, travelers are now more vigilant about their plans… Read more »

The heatwave data released by National Oceanic and Atmospheric Administration (NOAA) in 2021 reveals how the number of heatwaves in the US increased from “two” per year in the 1960s to “six” per year in the 2010s.  In recent years, record-breaking heatwaves have been reported in the country. Regrettably, many of them have been overlooked because of… Read more »

Digitalization has turned common practices on their head. People now prefer fast and instant solutions to their complex issues. Even in insurance, consumers today are more conscious about their choices and prefer to inform themselves through digitalized services and optimized interactions.  This explains why and how murmurs of connected insurance have come to the fore…. Read more »

Being seriously ill or injured during work can be emotionally and financially taxing. Some time off from work is a must in such cases. Many professionals in New York do not usually receive any long-term paid time off.  For that reason, the State of New York’s Temporary Disability Insurance (TDI) program enables regular payments to… Read more »