7 Reasons Why Insurance is Important

Morgan Insurance

Here are seven reasons why insurance is important. What more would you add? 1.) Insurance Keeps Commerce Moving In the days after the 9/11 attacks, there were many worries about insurance coverage. Acts of war are not covered by insurance. Was terrorism an act of war? The big question was, How would the 9/11 attacks be classified? Fortunately, the insurance industry decided the attacks were not an act of war. However, after 9/11, some insurers began excluding terrorism. But the…

Florida lawmakers consider bills that would eliminate personal injury protection insurance

Florida drivers pay more than $1,200 a year in car insurance premiums, according to the National Association of Insurance Commissioners. That rate is among the highest in the nation. Some lawmakers are trying to lower premiums by eliminating so-called no-fault insurance. “You could lower insurance premiums if that was our solitary goal, by gutting insurance coverage in Florida and having people drive around with almost no coverage,” said state Sen. Tom Lee. Right now, Florida is one of only two…

Irma insurance losses top $7 billion

Estimated insurance losses from Hurricane Irma have reached $7.2 billion, as more than 877,000 claims have been filed since the September storm, according to information released Monday by the state Office of Insurance Regulation. More than 83 percent of the claims involve residential property, with most in South Florida. Irma, which has been linked to 84 deaths in Florida, made landfalls Sept. 10 in Monroe and Collier counties before barreling up the state, creating evacuation problems and widespread damage in…