They had no reason to believe their insurance policies wouldn’t cover flood damage. Now they are on the hook for tens of thousands of dollars in repairs.
insurance
Posted inBusiness, Nation & World, News
Drivers squeezed as auto insurance costs soar across the U.S.
Premiums have kept climbing even as other types of inflation have cooled, as vehicle maintenance costs and used car prices has increased recently.
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Posted inHealth, Local & State, News
Mainers with long-term care insurance facing hefty premium increases
Pending rate requests from various insurance policies for long-term care go as high as 152%.
Posted inNation & World, News
Home insurers cut natural disasters from policies as climate risks grow
Major insurers say they will cut out damage caused by hurricanes, wind, and hail from policies underwriting property along coastlines and in wildfire country, according to a voluntary survey conducted by the National Association of Insurance Commissioners.
Posted inBusiness, Nation & World
Ian deals blow to Florida’s teetering insurance sector
Even before last week’s hurricane, Florida’s home insurance market was dealing with billions of dollars in losses from a string of natural disasters, rampant litigation and increasing fraud.
Posted inHealth, Local & State
Thousands more Mainers now have access to dental care, but can’t find a dentist
Even before more than 200,000 adults became eligible for MaineCare’s dental benefits this summer, the state was experiencing a dearth of professionals to provide them.
Posted inBusiness, News
Royce Cross stepping down as CEO of Cross Insurance, being succeeded by son
Jonathan Cross is the third generation of the Cross family to lead the 68-year-old, Bangor-based insurance provider.
Posted inBusiness, Nation & World, News
New Yorkers, Floridians pay most – and Mainers least – for auto insurance
The tally, based on Bankrate.com’s annual report, compared what 40-year-old drivers with clean driving records and good credit pay across all 50 U.S. states and Washington D.C.
Posted inBusiness, Local & State
State insurance bureau recovered $1.3 million for Mainers in 2021
The Maine Bureau of Insurance said Monday that it conducted 435 investigations on behalf of insurance customers.
Posted inBusiness, Local & State
Long-term care insurer in Maine seeks triple-digit rate increases
Genworth Life Insurance Co., with which nearly 4,100 Mainers have policies, is seeking premium increases of up to 178 percent on various plans in 2022.