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How Is Insurance Priced? Cracking Open the Black Box Once and For All

How Is Insurance Priced? Cracking Open the Black Box Once and For All This is when we all realize we have no idea how insurance is priced: You open your morning mail, review your insurance renewal, and nearly spit out your coffee. “They want HOW MUCH this year? But I didn’t even file a claim!” Welcome to the mysterious black box of insurance pricing, where premiums emerge...

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Safeco to Exit Specialty Insurance Lines in California by 2026: What This Means for the Market

Safeco to Exit Specialty Insurance Lines in California by 2026: What This Means for the Market The Department of Insurance has been working hard to find a fix to the home insurance crisis in California. Nonetheless, in December 2024, Liberty Mutual announced plans for Safeco to exit specialty insurance in California by 2026. This includes the discontinuation of coverage for renters, condos,...

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The Ten Myths about Insurance People Believe

The Ten Myths about Insurance People Believe As a young man fresh out of college, I didn’t see myself working in insurance, let alone as an insurance agent. It’s not because I thought it was beneath me, I simply wasn’t informed about the industry. In hindsight, it’s easy to understand why I was so ill-informed; there isn’t much education about insurance in our intermediate or higher...

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All the Auto Insurance Advertising Can’t be Good

Does Auto Insurance Advertising Hurt Your Choices? The amount of auto insurance advertising is mind-boggling. Some insurance companies are spending big money to get their message out. In fact, GEICO will spend over $1B to influence you to buy their auto insurance, and Allstate (including Esurance) will spend over $ 800 M. Progressive will easily spend over $500M to put Flo in front of...

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