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☆ Insurer’s Retreat in Florida Signals Crisis With No Easy Fix
▼ + stars: | 2023-07-14 | by ( Emily Flitter | More About Emily Flitter | ) www.nytimes.com time to read: +1 min

Insurers are trapped in a riddle: In a world where the risk of costly disasters is rising but high premiums are squeezing policyholders and angering state regulators, how can they continue to make money? Farmers, one of America’s biggest home insurers, didn’t say what specifically led to its decision. Was the cost of payouts too high in recent years, which saw record-setting numbers of billion-dollar disasters, just as rates charged by reinsurers, which sell insurance to insurers, were rising? Or is Farmers playing a game of chicken with state regulators, hoping that walking away now will give it leverage to charge customers more in the future? “A lot of insurers have been losing a lot of money in Florida and they’ve been threatening to leave for years,” said Daniel Schwarcz, a professor at the University of Minnesota Law School who specializes in insurance.

Persons: they’ve, ”, Daniel Schwarcz Organizations: Farmers Insurance, reinsurers, Farmers, University of Minnesota Law School Locations: Florida

Farmers Insurance will stop offering insurance in Florida. Compare homeowners insurance quotes with Policygenius »Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. News 6 Orlando reported that this change will affect about 100,000 Farmers-branded home, umbrella, and auto insurance policies. However, the bulk of insurance policies offered by Farmers in Florida are under other brands, like BristolWest and Foremost Signature. "Affected customers will receive notifications detailing when their coverage will end and will be advised of options for replacement coverage," Farmers told News 6 in a statement.

Persons: Policygenius, it's Organizations: . Farmers Insurance, Farmers, Service, Farmers Insurance, Orlando, Farm, Allstate Locations: Florida, Wall, Silicon, California

☆ Farmers Insurance pulls out of Florida, affecting 100,000 policyholders
▼ + stars: | 2023-07-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Farmers Insurance will stop offering its policies in Florida, including home, auto and umbrella policies, in a change that will force thousands of people to change their insurance provider. Farmers serves 100,000 customers in Florida but said there will be no impact to customers who use Farmers’ owned subsidiaries like Foremost Signature and Bristol West. “Such policies will continue to be available to serve the insurance needs of Floridians,” Farmers Insurance spokesperson Trevor Chapman said in a statement. Florida requires affected policyholders to receive a 120-day notice that their policies aren’t being renewed. Earlier this week, Farmers limited new homeowners insurance policies in California because of high costs and wildfire risks.

Persons: Trevor Chapman, don’t, aren’t, ” Mark Friedlander, ” Friedlander, hasn’t, ”, Friedlander, It’s, Hurricane Ian, Harvey Organizations: New, New York CNN — Farmers Insurance, Farmers, Bristol West, ” Farmers Insurance, ”, Insurance Information Institute, CNN, Insurance, Institute, Atlantic, National Oceanic, Atmospheric Administration, NOAA, Farm, Allstate Locations: New York, Florida, California

PGA TOUR logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South on January 29, 2021 in San Diego, California. The Justice Department's Antitrust Division has informed the PGA Tour it will review the organization's proposed merger with Saudi-funded LIV Golf, a source told NBC News on Thursday. The Justice Department and LIV Golf declined to comment. The PGA Tour policy board will have to approve the agreement, Monahan told players in a memo. The PGA Tour revealed Tuesday that Monahan is currently recovering from an unspecified medical matter and is taking a leave of absence.

Persons: LIV, LIV Golf, Democratic Sens, Elizabeth Warren of, Ron Wyden, Sen, Richard Blumenthal, Conn, Wyden, Saudi Arabia's Crown Prince Mohammed bin Salman, LIV dangled, Donald Trump, Jay Monahan, Monahan Organizations: Farmers Insurance, Torrey Pines, Department's Antitrust, PGA, Saudi, NBC, Justice, LIV, CNBC, PGA Tour, Democratic, Oregon, DOJ, Investment Fund, Saudi Arabia's Crown, Tour Locations: San Diego , California, Elizabeth Warren of Massachusetts, New Jersey

Farmers insurance has confirmed it is pausing new homeowners policies in Florida. If you need home insurance in Florida, compare quotes and ensure you have enough disaster coverage. Compare homeowners insurance quotes with Policygenius »Get the latest tips you need to manage your money — delivered to you biweekly. Flood insurance, for example, is not included in a standard homeowners insurance policy because it's not required for people who don't live in a high-risk area. While you can get flood insurance through a private company, it's also available through FEMA via the National Flood Insurance Program.

Persons: —, Luis Sahagun, it's Organizations: Farmers, Service, Insurance, Farm, Allstate, Policygenius Companies, FEMA, National Flood Insurance Locations: Florida, California

☆ Deciding what to do when your employer changes the rules on remote work
▼ + stars: | 2023-06-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

New York CNN —If you’ve organized your life around a fully remote or highly flexible hybrid work schedule over the past three years, it can feel jarring if your employer decides to change the rules on remote work and require or enforce more on-site attendance. This, despite the company previously telling staffers most of them would be working remote full time, according to the Wall Street Journal. In addition, according to CNBC, it also said it hopes that employees working remotely full time will consider working a hybrid schedule instead if they live near a Google office. “Changes in remote work policies can certainly create significant risk to employee retention and engagement, depending on how drastic the changes are and how effectively they are executed by managers,” Wigert noted. What do you need to do your best work?

Persons: John Stankey, “, ”, Caitlin Duffy, ” Gallup, Ben Wigert, ” Wigert, you’re, Octavia Gordema, Gordema, you’ve, Duffy, ” Gordema, ” –, Catherine Thorbecke Organizations: New, New York CNN, T, Bloomberg, Farmers Insurance Group, Wall Street, Google, CNBC, Gartner Consulting, Gallup, “ Locations: New York

☆ How to watch the PGA Championship: Start time, channels, and other things to know
▼ + stars: | 2023-05-18 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

Rob Schumacher/USA Today Network Tiger Woods walks the 18th green during the second round on Saturday, April 8. David J. Phillip/AP Fred Couples waves to patrons after finishing his second round on Saturday. Patrick Smith/Getty Images Patrick Cantlay plays a shot from a bunker on the 18th hole on Saturday. Rob Schumacher/USA Today Network Adam Scott plays a bunker shot on the second hole Thursday. Rob Schumacher/USA Today Network Hideki Matsuyama, who won the tournament two years ago, looks over a putt on the second hole.

☆ 'We didn't come from rich families': How 2 friends bought their first home as college students and then built a 7-figure real estate flipping business in Denver
▼ + stars: | 2023-03-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +11 min

They experimented with other ventures, including a hookah lounge, before focusing on real estate. Along the way, the entrepreneurs opened a hookah lounge and a bar before committing to real estate full-time in 2019. While they had a real estate agent showing them homes, Khosravi and Blue found their first property on their own. "I was visiting some friends at ASU and there was a hookah lounge there. At the time, "we were making $35,000 a year, if that, from the hookah lounge," added Khosravi.

☆ New data shows car thefts are on the rise — here's how auto insurance can help
▼ + stars: | 2023-03-12 | by ( Elizabeth Gravier | Jason Stauffer | ) www.cnbc.com time to read: +9 min

The NICB recommends drivers check to make sure their car insurance policy is up to date, but don't assume that your policy will cover your stolen car. You'll need comprehensive coverage to cover theftWith the exception of New Hampshire and Virginia, every state requires you to have a car insurance policy to drive. One of CNBC Select's top picks, Farmers Insurance, makes coverage cheaper with 22 discounts on car insurance. Take steps to prevent auto theftEven if you do have comprehensive coverage, having your car stolen isn't ideal. While you can take steps to prevent car theft, you'll need to have comprehensive coverage if you want theft to be covered.

☆ Rose eyes Ryder Cup return after first PGA Tour win in four years
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

[1/5] Feb 6, 2023; Pebble Beach, CA, USA; Justin Rose with the championship trophy following the continuation of the final round of the AT&T Pebble Beach Pro-Am golf tournament at Pebble Beach Golf Links. Rose finished ahead of Americans Brendon Todd and Brandon Wu to lift his first trophy since the Farmers Insurance Open in 2019 and 11th on the PGA Tour. "I haven't even entertained what the Ryder Cup looks like for me, other than I want to be there," Rose said. "What was really important to me was getting off to a good start on the PGA Tour so I wasn't under pressure later in the season, so I could turn my attentions to the Ryder Cup and the European Tour. I thought the simple way to approach it was try to play my way into the top 50 in the world," said Rose, whose victory moved him up to 35.

☆ Best Car Insurance Companies for Young Drivers
▼ + stars: | 2023-02-01 | by ( ) www.wsj.com time to read: +14 min

By Kat TretinaWhether you’re a parent adding a child to your car insurance or a recent college grad purchasing your own policy for the first time, you may experience sticker shock when you see how expensive car insurance premiums can be. Geico also has useful options for young drivers who have made serious mistakes in the past. For young drivers looking for personalized help choosing the right policy, the lack of local agents can be a significant downside. Best Car Insurance with TelematicsState FarmWhy We Chose It: Usage-based insurance, also known as pay-as-you-drive, uses smartphones or telematic-technology to track driver behavior and is increasingly popular. How We Picked the Top CompaniesTo identify the top car insurance companies for young drivers, we researched the 22 insurers ranked in the 2022 J.D.

☆ A 46-bedroom Texas mansion that nobody wanted, sat abandoned for nearly 20 years, and nearly got bought 20 times finally has tenants
▼ + stars: | 2015-06-24 | by ( Dennis Green | ) www.businessinsider.com time to read: +2 min

A 60,000-square-foot mansion near Houston, Texas, has sat vacant for more than 20 years. Owner Jim Youngblood tried to sell the vacant home more than 20 times, but every deal fell through. Construction stopped about 80% through when the couple decided the house was too big, according to the current owner of the property, Jim Youngblood. Jim Youngblood, the owner of the Manvel mansion. Jim YoungbloodYoungblood, a partner at a local leasing and property management company, bought the abandoned mansion for $525,000 in 2007.

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