New Jersey Insurance – Sun National Bank Center Tue, 21 Jun 2022 06:00:00 +0000 en-US hourly 1 New Jersey Insurance – Sun National Bank Center 32 32 US Insurance Advertising Market Size, Scope and Forecast Tue, 21 Jun 2022 06:00:00 +0000

New Jersey, United States – The US Insurance Advertising Market research report examines the market in detail over the forecast period. The research is divided into sections, each of which includes analysis of market trends and changes. Drivers, limitations, opportunities, and barriers, as well as the impact of numerous aspects on the industry, are all variables of market dynamics.

The report provides participants with essential information as well as specific recommendations for gaining a competitive advantage in the global business world. It studies how different players compete in the global market and shows how they compete differently. The market size for the US Insurance Advertising Market is calculated using a projected period included in the research study. Current market status and trends, along with business growth drivers, industry share, sales volume, interesting BI dashboards, and market forces are all explored.

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Key Players Mentioned in the United States Insurance Advertising Market Research Report:

The Allstate Corporation, Berkshire Hathaway Inc, The Progressive Corporation, MetLife, State Farm Mutual, Nationwide Mutual, Liberty Mutual, UnitedHealth Group, Farmers Insurance Group, American Family Mutual

Our analysts have performed a qualitative and quantitative analysis of the microeconomic and macroeconomic components of the US Insurance Advertising market. This study will also help to understand changes in US Insurance Advertising market industrial supply chain, manufacturing processes and costs, sales scenarios and market dynamics.

This analysis highlights significant mergers and acquisitions, business expansion, differences in goods or services, market structure, competitive conditions in the United States Insurance Advertising market, and market size by participant.

US Insurance Advertising Market Segmentation:

U.S. Insurance Advertising Market, By Type

• Non-medical insurance
• Life insurance

U.S. Insurance Advertising Market, by Channel

• Direct marketing
• Online marketing
•Mobile Marketing
• Other

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Scope of the U.S. Insurance Advertising Market Report

UNITY Value (million USD/billion)
SECTORS COVERED Types, applications, end users, and more.
REPORT COVER Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
BY REGION North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
CUSTOMIZATION SCOPE Free report customization (equivalent to up to 4 analyst business days) with purchase. Added or changed country, region and segment scope.

Answers to key questions in the report:

1. Who are the top five players in the US insurance advertising market?

2. How will the US insurance advertising market evolve over the next five years?

3. Which product and which application will capture the lion’s share of the US insurance advertising market?

4. What are the US Insurance Advertising Market Drivers and Restraints?

5. Which regional market will show the strongest growth?

6. What will be the CAGR and size of the US insurance advertising market throughout the forecast period?

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Verified Market Research® is a leading global research and advisory firm that for over 10 years has provided advanced analytical research solutions, personalized advice and in-depth data analysis to individuals and businesses seeking accurate research, reliable and up to date. data and technical advice. We provide insight into strategic and growth analytics, the data needed to achieve business goals, and help make critical revenue decisions.

Our research studies help our clients make superior data-driven decisions, understand market forecasts, capitalize on future opportunities, and maximize efficiency by working as a partner to deliver accurate and valuable insights. The industries we cover span a wide spectrum, including technology, chemicals, manufacturing, energy, food and beverage, automotive, robotics, packaging, construction, mining and the gas. Etc.

At Verified Market Research, we help in understanding holistic market indicator factors and most current and future market trends. Our analysts, with their deep expertise in data collection and governance, use industry techniques to gather and review data at all stages. They are trained to combine modern data collection techniques, superior research methodology, subject matter expertise and years of collective experience to produce informative and accurate research.

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How to get COVID treatment for a long time in NY and NJ Sun, 19 Jun 2022 14:30:48 +0000

Long COVID is a disappointment. Even mild coronavirus infections lead to weeks and months of lingering symptoms such as loss of smell, confusion due to mental fog and fatigue.

But serious consequences, such as heart trouble and kidney disease, appear, sometimes long after people have recovered. Vaccines appear to mitigate some of the adverse effects, but large-scale studies have been found in inoculated people with “post-acute sequelae of SARS-CoV-2 infection” or PASC.

This is precarious for the economy, given that 20-40% of adults could suffer the fallout from COVID in the long term. Health plans and employers could respond by ensuring their employees receive comprehensive care, but that could be expensive, given that many long haulers need to see specialist doctors.

Researchers from the City University of New York predict that the median case of symptomatic COVID could result in a loss of productivity of $6,000 over the course of a year. So, for local employees who don’t know how to get care or navigate insurance, here’s a simple guide.

This report is also featured in a recent Gothamist article on the impact of long COVID on the workforce.

Consult your attending physician. Ask a specialist.

Dealing with COVID and PASC for a long time remains difficult because the conditions express themselves in so many different ways. An analogy would be brain cancer. There are over 120 types of brain tumors and accurate treatment can be hampered without a quick identification of what is going on inside the body.

The RECOVER initiative, a $1.15 billion federal study of long COVID and PASC launched in the spring of 2022, says there are “200+ symptoms and counting.”

Karyn Bishof, chair of the COVID-19 Longhauler Advocacy Project, said patients need to be diligent when it comes to knowing the different signs of the disease and finding the right medical professionals to deal with it.

“Every primary care provider in the country needs to get to a level where they can screen a patient and identify long COVID or its associated conditions,” Bishof said, because diagnostic delays will only slow referral to a specialist.

NYC Health + Hospitals has set up an AfterCare Resource Center, where people can find information about getting care through the city’s public health care system. NYU Langone and Mount Sinai also operate lengthy COVID treatment centers, and a large list of facilities exists for New Jersey.

Current wait times for specialists can be up to 18 months, Bishof said, so come early.

If a long COVID patient feels they are waiting too long, they can usually file a complaint with the provider, who must respond by law in places like New York and New Jersey. If that fails, they can escalate the issue to local officials, such as those at the New Jersey Department of Banking and Insurance or the New York Department of Health.

Make sure your doctor uses code U09.9

Long haulers, like many people with chronic conditions, will likely face the challenge at some point in their care of proving their “medical necessity.” No specific treatments have been approved to directly treat long COVID – and its impact on organs like the heart, lungs and nervous system. This is because the long studies of COVID are mostly in their early stages.

A chicken-egg scenario often arises with getting health plans to cover treatment: Doctors can try drugs or therapies known to help those organs, but insurance companies want proof that it can work. .

“Insurance companies will sometimes disallow certain costs as not medically necessary, especially in situations where there’s this kind of gray area about medical necessity,” said Joel Cantor, director of the University’s Center for State Health Policy. Rutgers, to Gothamist. “It’s an ongoing challenge, especially for people with multiple symptoms.”

Medical necessity is initially judged by a person’s physician, and physicians must properly document conditions for patients to receive insurance coverage.

A critical part of this process is entering a code specific to post-COVID disorders – U09.9 – into medical records. This code is part of an international system — organized in part by the CDC — that must be used by any health plan or health care provider using electronic records in the United States.

The U09.9 code only came into effect last October, and Bishof said some medical professionals are still unaware of it, even though it can help justify treatment requests. Even getting a prescription for routine medications related to symptoms or illness caused by COVID can be difficult without this code.

If you are refused tests or treatment, appeal

Even if a long-time COVID patient’s primary physician or specialist considers a treatment plan a medical necessity, health insurance providers can still deny the request.

If that happens, Maanasa Kona, assistant research professor at Georgetown University’s Center for Health Insurance Reforms, said patients can submit additional information to substantiate their need for the disputed services.

Kona said insurance plans use scientific evidence or advice from physician organizations to define what treatments are needed. But so little is known about how to treat long COVID that most therapies would be considered unproven.

“Call the insurance company, explain your situation and ask how to proceed,” Cantor said. “They are legally obligated to reveal everything to you – all your rights.”

Both Cantor and Kona point out that longtime COVID patients facing denials of medical necessity have options for appealing. This applies to people with private insurance or a public plan like Medicaid. They say to file an appeal with the insurance plan first and seek help from doctors or health care providers.

The appeal process will likely vary depending on coverage. Cantor said people working at large companies with employer-sponsored plans to work with their human resources department. Small business employees may need to contact their insurance broker directly or ask their employer to act as an intermediary.

If an internal appeal is also denied by Medicare, long-term COVID patients can seek an independent review with a state regulatory agency. New Jersey residents can request such a review by emailing or calling 1-888-393-1062 (or 609-777-9470). New Yorkers can do the same by visiting the Department of Financial Services website, emailing, or calling (800) 400-8882.

Some options disappear

Patients should be aware that major pandemic-era subsidies that help reduce out-of-pocket health care costs are at risk of ending. Thus, patients with long COVID symptoms should not delay in seeking treatment.

The U.S. bailout, ratified in March 2021, allowed people to buy better health care plans in their state’s ACA marketplaces. But these grants will expire by the end of the year unless they are renewed. The KFF Health Policy Institute estimates that 3.7 million people would lose additional benefits and many more who are signed up to the markets would see their premiums double.

Likewise, in the coming months, millions of people will likely lose access to Medicaid, the federal and state health plan for people on limited incomes. Prior to COVID-19, states were required to conduct annual audits to ensure Medicaid enrollees were still eligible for benefits. But these “eligibility determinations” have been halted during the pandemic. Kicking people out of healthcare as a deadly virus spreads could put many more at risk.

Eligibility determinations will revert if the country’s public health emergency is declared over by the U.S. Secretary of Health — a decision they’ve made every 90 days since January 2020. The next signing is expected mid- July, but a renewal is planned.

Health policy experts predict that 5 million to 14 million people will be deemed ineligible for Medicaid each time the ruling goes the other way.

Virus Exclusion Dooms NJ Whiskey Bar’s Business Loss Row Fri, 17 Jun 2022 22:06:00 +0000
By Riley Murdock (June 17, 2022, 6:06 p.m. EDT) – A federal court in New Jersey has rejected a whiskey bar’s bid for COVID-19 business interruption coverage from Amguard Insurance Co., finding that the restaurant’s losses fell under a broad virus exclusion in its policy.

In an unpublished opinion released Thursday, U.S. District Judge Freda L. Wolfson found the plain language of the policy denied coverage to Mark Daniel Hospitality LLC, the operator of INC American Bar & Kitchen, which appears to have permanently closed.

Amguard’s virus exclusion policy applies even when something else is contributing to the loss, according to the ruling. Mark Daniel argued that his losses stemmed from government shutdown orders, not…

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Tesla Insurance will reach New Jersey and Florida Thu, 16 Jun 2022 05:13:54 +0000

Tesla Insurance looks set to expand to New Jersey and Florida based on filings in both states.

In New Jersey, Tesla has three companies listed on the state’s list of approved insurance companies. In its listing, the NJ Department of Bank and Insurance (DOBI) includes Tesla General Insurance, Inc., Tesla Insurance Company, and Tesla Property & Casualty, Inc. The names of Tesla’s insurance department in New Jersey match those that ‘he filed in Maryland. .

Tesla also filed new auto insurance programs with Meritplan Insurance Company and Balboa Insurance Company with the Florida Office of Insurance Regulation. The Maryland administration said Teslarati that Balboa Insurance Company changed its name to Tesla Insurance earlier this year. Maryland also filed for a Tesla Property & Casualty, Inc.

Tesla Insurance depots in Florida also share the same NAIC codes as those listed in New Jersey. Insurance companies are assigned NAIC codes by the National Association of Insurance Commissioners, an organization that oversees insurance practices in the United States.

New Jersey’s DOBI lists Tesla Insurance Company’s NAIC as 24813, which is the NAIC number for Balboa Insurance Company in Florida. Tesla Property & Casualty, Inc and Meritplan Insurance Company also have the same NAIC code in New Jersey and Florida. Based on NAIC codes, Tesla Insurance appears to apply for licenses in Maryland, New Jersey and Florida through Balboa Insurance Company and Meritplan Insurance Company.

Documents filed in Florida reveal that Balboa Insurance Company covers commercial motor vehicle liability, accident and health, casualty, private passenger motor vehicle liability, fire, burglary and theft, among others. In addition, documents filed by FL showed that Meritplan Insurance Company coverage includes commercial automobile liability, commercial automobile bodily injury, private passenger automobile liability, and more.

The Teslarati team would appreciate hearing from you. If you have any advice, contact me at or through Twitter @Writer_01001101.

Tesla Insurance will reach New Jersey and Florida

]]> AmeriHealth faces 3rd Circ. Appeal in a lawsuit under the Misrepresentation Act Mon, 13 Jun 2022 21:46:00 +0000
By Eric Heisig (June 13, 2022, 5:46 p.m. EDT) – Actuarial analyst, seeking to revive a False Claims Act lawsuit alleging AmeriHealth Insurance Co. of New Jersey lied so its plans could continue on a health care exchange set up the Affordable Care Act, the Third Circuit told Monday that a judge ignored reasonable interpretations of a key U.S. Supreme Court decision.

Eric Johnson, in a brief to the Third Circuit, argued that the Pennsylvania federal judge who dismissed his case erroneously ruled that state and federal exchanges may require different obligations during each application process. This runs counter to King v. Burwell, who ruled that…

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Medicaid weighs tying strings to nursing home payments to improve patient care Sun, 12 Jun 2022 01:44:40 +0000

The Biden administration plans to require the nation’s 15,500 nursing homes to spend most of their Medicaid payments on direct resident care and limit the amount used for operations, maintenance and capital improvements or diverted to profits.

If passed, it would be the first time the federal government has insisted that nursing homes spend the majority of Medicaid dollars on resident care.

The strategy, which has yet to be formally proposed, is among several measures officials are considering after the covid-19 pandemic hit vulnerable nursing home residents particularly hard. In the first 12 months of the pandemic, at least 34% of those killed by the virus lived in nursing homes and other long-term care facilities, although residents of these facilities make up less than 1% of the American population.

Medicaid, the federal state health insurance program for low-income people, pays the bills for 62% of long-term care residents in nursing homes. In 2019, that totaled $50.8 billion. Medicare, which covers short-term nursing home visits for the elderly or disabled, spent $38.2 billion that year. (Officials did not include Medicare payments in their discussions of a direct care spending mandate.)

“The absolutely essential ingredient” for good care is enough staff, Dan Tsai, deputy administrator of the Centers for Medicare & Medicaid Services and director of Medicaid, told KHN.

CMS has sought public comment on a possible direct care spending mandate in its proposed policy update and care home payment rates for next year. Tsai also spoke about it during a meeting with Illinois state officials, nursing home workers, residents and loved ones in Chicago in April.

Studies have found a strong link between staffing levels and care. CMS does not require a specific number of nurses and other staff, although some states do.

“We want to make sure the dollars get to the direct care staff to ensure high-quality care,” Tsai told KHN.

To receive a government paycheck, nursing homes must meet dozens of requirements aimed at ensuring high-quality care. They can be penalized in the event of an infraction. But federal investigations have found that inspectors can miss serious issues and that inspections don’t consistently meet CMS standards. One of the most common breaches was infection control.

In its request for public comment, CMS posed several questions, including: “Is there evidence that resources that could be spent on staffing are instead being used for expenditures that are not necessary for the quality patient care?

The federal interest follows laws enacted in three states – Massachusetts, New Jersey and New York – to tax care expenditures. Massachusetts requires nursing homes to spend at least 75% of their income on resident care. New Jersey nursing homes must spend at least 90% of Medicaid payments on resident care, and no more than 5% can go to profits. New York requires that at least 70% of nursing home revenues — including Medicaid, Medicare and private insurance payments — be used to care for residents and that at least 40% of money for care direct pay for staff “in contact with residents” . Profits are capped at 5%. The three states promise increased Medicaid payments to facilities that comply with the laws.

In April, the National Academies of Sciences, Engineering and Medicine endorsed the out-of-pocket spending strategy in a report on improving nursing care in homes.

“When you take public funds, those dollars should be put back into direct care,” said David Grabowski, a professor of health care policy at Harvard Medical School and a member of the committee that wrote the report. “We expect the nursing home to make the best judgment about the right kind of labour, material and capital expenditure to really produce the highest level of quality, but that just doesn’t matter. not been the case. This recommendation is therefore really an opportunity to put safeguards in place.

National nursing home industry groups oppose the demands, which come at a difficult time as many facilities face staffing shortages. In New York, two trade associations and about half of the state’s homes have filed two lawsuits to block the state spending directive.

Staffing is already “the No. 1 expense” for nursing homes, said Stephen Hanse, president and CEO of the New York State Health Facilities Association, which represents 350 nursing homes and has led one of the suits. “We are a hands-on industry.”

The 239 nursing homes that joined the association’s lawsuit say that if New York’s law had been in effect in 2019, facilities would have been forced to provide residents with an additional $824 million in direct care or return this amount to the State.

Hanse objects to the state telling nursing home administrators how to do their job. “You can have an amazing diet program, for example, and this law would require you to lay off diet workers and hire front-line workers to meet staffing needs,” he said.

The groups filing the lawsuits argue that forcing landlords to spend more money on direct care leaves less money for maintaining their facilities and the quality of care will suffer. They also claim that Medicaid does not cover resident care costs. Resident advocates say facilities can hide their profits by overpaying related businesses they own, such as laundry or catering businesses.

Although a spending mandate is new for nursing homes in the three states, it has become routine for health insurers nationwide. Under the “medical loss rate” provision of the Affordable Care Act, health insurance companies must spend at least 80% of premiums on the medical care of beneficiaries. A maximum of 20% can be spent on administrative costs, executive salaries, advertising and profits. Companies that exceed the cap must reimburse the difference to the beneficiaries.

In addition to a direct care spending mandate, Tsai said CMS is interested in a slightly different approach underway in Illinois, which made changes to nursing home regulations this year. His Nursing Home Tariff Reform Act increases Medicaid funding and then requires each home to hire at least 70% of the staff that state analysis shows residents need. The state then uses payroll and other data to verify that the establishment has complied. Otherwise, the difference will be deducted from his next payment.

“There are states across the country that are trying a range of approaches to ensure that system dollars from nursing facility reimbursement rates are actually – in one way or another – affected. sufficient and high-quality staff,” Tsai said. “That’s our primary goal.”

KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism on health issues. Along with policy analysis and polls, KHN is one of the three main operating programs of the KFF (Kaiser Family Foundation). KFF is an endowed non-profit organization providing information on health issues to the nation.

Subscribe to KHN’s free morning briefing.

Insurance Market Demographics Expected to See Huge Growth by 2028: Lime, Allianz, Allstate Fri, 10 Jun 2022 05:16:27 +0000

This press release was originally distributed by SBWire

New Jersey, NJ – (SBWIRE) – 09/06/2022 – The latest research study published by HTF MI “Demographic Trends in Insurance – Thematic Market” with over 100 pages of analysis on the business strategy taken up by the key and emerging industry players and provides know-how on current market development, landscape, technologies, drivers, opportunities, viewpoint and market status. Understanding the segments helps to identify the importance of different factors contributing to market growth. Some of the top companies covered in this search are Uber, Blue Cross Insuranc, Admiral, Metromile, Bird, Lime, Allianz, Allstate, Aviva, AXA, Berkshire, Generali, Legal & General, Nationwide, Nippon, Ping An, State Farm, UnitedHealth Group, Zurich, By Miles, dacadoo, Dead Happy, Lemonade, Neos, Pikl, Urban Jungle, Vitality, Zego etc.

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This report offers an in-depth analysis of the demographic trends that will shape the insurance industry over the next 30 years. It examines different demographic trends, penetration rates of insurance products among different demographic groups and highlights industry players who are tackling these trends.
for more information or any questions mail to [email protected]

Finally, all parts of the Insurance Demographic Trends thematic market are quantitatively and subjectively assessed to think about the global market just as much as the regional market. This market study presents basic data and actual market figures giving an in-depth analysis of this market based on market trends, market drivers, restraints and its future prospects. The report provides the global monetary challenge using Porter’s five forces analysis and SWOT analysis.

If you have any questions, please click here @:

– Renters are much less likely to have some form of home insurance than mortgagors.
– Private health care will become more popular as an aging population strains public resources.
– Stagnating middle-class incomes will reduce the use of insurance policies.
Reasons to buy
– Identify changes in customer profiles over the next 30 years.
– Be prepared for changing consumer needs when purchasing insurance.
– Plan ahead to stay ahead of the competition.
Insurance Demographic Trends – Thematic Market by Key Players: Uber, Blue Cross Insuranc, Admiral, Metromile, Bird, Lime, Allianz, Allstate, Aviva, AXA, Berkshire, Generali, Legal & General, Nationwide, Nippon, Ping An, State Farm, UnitedHealth Group, Zurich, By Miles, dacadoo, Dead Happy, Limonade, Neos, Pikl, Urban Jungle, Vitality, Zego

Geographically, this report is segmented into certain key regions, with manufacturing, exhaustion, revenue (million USD), market share and growth rate of demographic trends in Insurance – thematic in these regions, from 2017 to 2027 (forecast), covering China, USA, Europe, Japan, Korea, India, Southeast Asia and South America and their Share (%) and CAGR for the forecast period 2022 to 2027

Key Market Developments: This segment of the Insurance Demographic Trends – Thematic report merges key market developments which contains confirmations, compound efforts, R&D, sending new things, joint efforts and relationships between driving members working in the market.

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Some of the important questions for stakeholders and business professionals to enlarge their position in the Insurance Demographic Trends thematic market:
Q 1. Which region offers the most rewarding open doors for the market before 2021?
Q 2. What are the trade threats and impact of latest scenario on market growth and estimation?
Q 3. What are probably the most encouraging development scenarios for Demographic Trends in Insurance – Thematic Movement Showcase by Applications, Types and Regions?
Q 4. Which segments are getting the most attention in Insurance Demographic Trends – Thematic Market in 2020 and beyond?
Q 5. Who are the major players competing and growing in the Demographic Trends in Insurance – Thematic Market?

For more information, read the TOC @:

Key poles of the TOC:
Chapter 1 Insurance Demographic Trends – Thematic Market Business Overview
Chapter 2 Major Breakdown by Type
Chapter 3 Wisely Breakdown of Major Applications (Revenue and Volume)
Chapter 4 Manufacturing Market Breakdown
Chapter 5 Sales and Estimates Market Research
Chapter 6 Comparative Production and Sales Market Breakdown of Major Manufacturers
Chapter 8 Manufacturers, Transactions and Closures Market Valuation and Aggressiveness
Chapter 9 Major Company Breakdown by Global Market Size and Revenue by Type
Chapter 11 Business/Industrial Chain (Value and Supply Chain Analysis)
Chapter 12 Conclusions & Appendix

Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, LATAM, Europe or Southeast Asia.

For more information on this press release, visit: -allianz-allstate-1358704.htm

Mercury Insurance offers new coverages and discounts in Illinois Wed, 08 Jun 2022 14:15:00 +0000

Mercury’s new extra protection comes with green benefits, while rebates put hard-earned cash back in policyholders’ pockets

LOS ANGELES, June 8, 2022 /PRNewswire/ — Mercury Insurance (NYSE: MCY) today announced five new coverages and five new discounts available to homeowners and renters in Illinois. Mercury’s new coverages provide additional insurance protections with an option for environmentally friendly replacement products. Discounts are available for homeowners who are already taking green measures and will put hard-earned money back into policyholders’ pockets.

“Providing residents of the Prairie State with more ways to save money is extremely valuable, and the added protections show that Mercury is there for when even more things can go wrong,” said david trumpMercury Insurance product manager for Illinois. “Providing savings and great value is incredibly important, and Mercury has done that since we started. Our additional coverages and savings are a natural fit.”

New covers include:

  • green house: Mercury will cover up to an additional 10% of replacement costs for alternatives or environmentally responsible construction methods with a covered loss. For example, if an owner with this additional coverage has damaged carpeting and chooses an eco-friendly replacement, Mercury will issue funds up to 10% more than the carpet replacement costs so the owner can choose for green flooring option. The protection also extends to other types of goods, such as an HVAC or appliances, when replaced with an environmentally friendly product. “Every day, we issue more than $1 million to restore the lives of policyholders and, at the same time, we see materials that will take a long time to degrade end up in landfills. Mercury will continue to help policyholders and, if we get the chance, so does the environment,” Trump said.
  • Matching undamaged siding and roofing: Often the repair of the roof or siding is limited to a damaged area of ​​the house and over time the old, existing, undamaged materials fade away or the roof or siding is no longer available. In the past, homeowners could end up with a roof or siding that didn’t match. Today, Mercury offers two additional covers (cladding or roofing) which also allow the undamaged parts to be replaced in the event of a shift.
  • Limited hidden water, vapor infiltration or leakage: Water complaints are one of the most common complaints that can lead to costly repairs as well as many inconveniences for homeowners. In some cases, a water leak can be hidden from the homeowner in a wall or ceiling and last for weeks or months and only be found when a wall is open. To better protect homeowners against water damage that is hidden, Mercury offers coverage that would apply to damage resulting from these cases.
  • Chilled products: During the pandemic, many homeowners have spent hundreds of dollars stocking their refrigerators from top to bottom. Mercury’s new protection covers up to $1,000 of food in the event of a power outage or mechanical failure of a refrigerator resulting in spoiled food.

New discounts include:

  • Green house: Mercury offers up to 5% all risk reduction if the home is green certified by the US Green Building Council’s LEED rating system or meets the requirements of the National Association of Home Builders Green Building Guidelines (NAHB).
  • Home updated: Mature homes, over 20 years old, with approved renovations, such as HVAC replacement, re-roofing, remodeling or a new addition, within the past 10 years are eligible for a discount of up to 10% on wind and water risks.
  • Good payer: Home insurance policyholders who have paid on time in the last 36 months are eligible for the good payer’s discount, which saves 2% on the policy. New businesses and existing policyholders are eligible for the discount.
  • Fully Paid: Mercury offers a premium discount of up to 10% for tenant insurance policyholders.
  • Digital: This is a new reduction of up to 2% savings on premiums for policyholders who register for the customer portal, the dematerialization of invoicing and the directory of dematerialized documents.

Mercury offers insurance for personal auto, mechanical protection, transit, condominium, landlords, home cyber protection, home systems protection, identity management services, renters, the service line, company automobile and personal umbrella in Illinois.

About Mercury Insurance

Mercury Insurance (NYSE: MCY) is a multi-line insurance company providing primarily auto, home and renters insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginiaas well as auto insurance Florida. Mercury underwrites other lines of insurance in various states, including commercial, business owner, and auto, homeowner, home-sharing, ride-sharing, and mechanical protection insurance.

Since 1962, Mercury has been providing customers with exceptional value for their insurance dollar by combining ultra-competitive rates with excellent customer service. Mercury earned “A” ratings from AM Best and Fitch, as well as the highest ranking in the 2021 JD Power U.S. Insurance Digital Experience Study,SM recognized as one of “America’s Best Insurance Companies for 2022″ by Forbes and four consecutive “Best Auto Insurance Company” awards by For more information, visit or follow the company on Twitter or Facebook.

SOURCE Mercury Insurance

Gary Begnaud discusses financial mistakes young workers should avoid Mon, 06 Jun 2022 14:58:16 +0000
Gary Begnaud New Jersey

Gary Begnaud of New Jersey, Executive Vice President/Wealth Management, Financial Advisor at Begnaud Wealth Management Group of Janney Montgomery Scott, LLC is designated as a Certified Retirement Planning Counselor as well as a Certified Divorce Financial Analyst and is at servicing customers for over 35 years. years. Gary Begnaud finds that many people in their 30s and 40s are often overwhelmed with the idea of ​​saving enough money to retire one day and in this article; Begnaud advises on common pitfalls to avoid at this stage of life.

When people are young and just starting out in the workforce, retirement can seem a long way off. However, this is happening faster than expected – and many are unprepared. According to recent surveys, 48% of adults are not actively saving for retirement, and those who do contribute to an employer-sponsored 401(K) plan or savings account.

On top of that, two-thirds of adults have not sought professional retirement planning advice, although around 54% say they feel they would benefit from such advice.

Preparation is key, and planning for retirement is never too early. Here, New Jersey’s Gary Begnaud outlines some common mistakes young workers can make in their retirement planning — and how to fix them.

Do not be aggressive from the start

Yes, it’s hard to focus on retirement when it’s four or five decades away. But Gary Begnaud explains that starting early literally pays off.

Every dollar invested in a retirement plan or retirement savings when you are in your 30s will benefit from 10 to 20 more years of accrued interest than what is invested in retirement savings when you are 40 or 50 . Start early and save as much as possible each month.

Also, if an employer offers a 403(b) or 401(k) plan, take advantage of it and save at least the minimum amount needed to trigger a match from an employer. With this approach, there are guaranteed returns.

Financial advisors also agree that if one can transfer a 401(k) to a new job, it’s better than cashing it in. Gary Begnaud explains that if an employer doesn’t offer such plans, consider starting an IRA that can be automatically funded by taking a certain amount from a checking account.

Being underinsured

Gary Begnaud reports that young people tend not to prioritize assertiveness. It’s easy to ignore when you feel like it’s not necessary if you’re in good health and there’s no spouse or children to consider. But having insurance isn’t just a bonus, it’s vital.

A small medical emergency can be financially crippling and derail retirement planning. Rental insurance can get you back on your feet quickly after a fire, flood or theft. When there are children and a spouse, term life insurance may be the best way to protect them if the unimaginable happens.

Not thinking strategically about investments

Gary Begnaud of New Jersey explains that a Roth IRA or traditional IRA and a 401(k) aren’t the only investment opportunities to consider. Do your homework and decide which investments are right for you. There are more options for IRA investments with a self-directed IRA, for example.

It may also be helpful to speak with a financial advisor about the possibilities of exchange-traded funds, which have low fees, or index mutual funds. Don’t blindly jump into trendy investments, such as cryptocurrency, or mutual funds that can perform poorly if not actively and properly managed.

A trusted financial advisor should steer a client in the right direction, says Gary Begnaud, which usually means a responsible mix of stocks, bonds and cash, including long and short-term, small-cap securities. , mid-cap, large-cap and international.

Ignore Debt

Gary Begnaud explains that there is a good chance that if you are human and of a certain age, there will be debt, whether it is because of credit card use, student loans or more. Debt is easy to put aside when you’re young. It also accumulates easily and can have a big impact on retirement savings.

Instead, establish an emergency savings fund that can cover any kind of unexpected expenses to avoid getting into debt as much as possible. Also, come up with a plan within a budget to pay off the debt, whether targeting the most expensive debt first and working from there or whether it’s more manageable to start with the smaller totals debt.

Either way, take care of it as soon as possible.

Applying for Social Security Too Soon

An easy rule to follow: the longer the wait for the filing of the social security application, the higher the compensation will be. While people can first choose to file their tax return at age 62, Gary Begnaud explains that full retirement begins around age 66 or 67 – and reporting can occur until age 70.

At age 70, the maximum benefit is reached. If we can wait until then, do it.

Thinking that you will continue to work

Gary Begnaud of New Jersey notes that while many people decide to work at least part-time during retirement, it’s unwise to assume that any type of income stream is vested when they reach retirement age. While it is certainly possible to land a job after retirement, one cannot predict the impact of a potential health problem or family needs, as well as the state of the economy decades later.

A goal can certainly be to work in retirement, but it’s best to plan as if that weren’t an option.

Begnaud Wealth Management Group
by Janney Montgomery Scott, LLC
701 East Gate Drive, Suite 210
Mount Laurel, New Jersey 08054

Insurance ban to tighten pressure on Russian oil shipments Sat, 04 Jun 2022 16:14:12 +0000

Brokers and underwriters gathered in the historic Underwriting Room at Lloyd’s of London this week to celebrate the Queen’s Platinum Jubilee, by ringing the Lutine Bell twice – a symbol of the insurance market‘s maritime roots which was traditionally struck once to mark a lost ship and twice for its safe return.

A different kind of peril now faces the age-old market after the UK and Brussels agreed to ban insurance on vessels carrying Russian oil as they tighten sanctions on Moscow for its invasion of Ukraine .

The move threatens to exclude one of the world’s largest crude oil producers from much of the maritime export market. Ships carrying Russian oil would rush to find alternative insurance, without which they risk being turned away from world ports.

Russia’s oil exports have largely held up despite Western sanctions on its financial system. Industry leaders say a coordinated insurance ban could change that and solve the fundamental problem with the EU maritime oil embargo: Russia can simply redirect its crude elsewhere.

“The impact of a UK and EU marine insurance ban on ships carrying Russian oil cannot be overstated,” said Leigh Hansson, sanctions partner at law firm Reed Smith. “We saw the impact of the Iranian oil insurance ban a decade ago, and it could well send Russian oil trade down the same path.”

It’s been a decade since Western governments first banned insurers from covering Iranian oil shipments, as well as imposing secondary sanctions on third parties who help Tehran evade sanctions, capping a broader set of measures and causing an almost immediate drop in exports.

But targeting Russia, the world’s third-largest oil producer, could have a much deeper impact on global energy markets.

Insurers are concerned about unintended consequences for the shipping industry and global commodity markets. As they try to make sure they don’t fall foul of the underwriting ban, they could overcompensate and take cover off a wider range of vessels.

“Because these cargoes move quite quickly and the insurance is taken out quite immediately, it’s quite difficult to do a lot of research into provenance,” a senior Lloyd’s official said. If this is not clear, insurers would “tend to take a slightly harder line by default”.

It could mean disruption to wider supply chains, including Kazakh oil shipped through Russian ports, as insurers take a cautious stance.

Industry insiders expect details on the measures in the coming days. The London market, which covers global risks, has been engaged in a furious lobbying effort since the start of the war to convince Western policymakers to align the timing and substance of their insurance sanctions.

With the ban on insuring or reinsuring Russian aircraft and space companies announced earlier this year, Western governments have announced policies in varying timeframes with different messages on their scope, triggering a market effort to establish an approach common.

Lloyd’s reiterated on Wednesday that it was “working closely with UK and international regulators and governments” to implement sanctions against Russia, noting that its “position as both market supervisor and insurer allows us to support various foreign policy objectives”.

Shipping industry figures believe an insurance ban would have a serious impact on the Russian oil industry.

“It’s very substantial,” said Dag Kilen, global head of research at Fearnleys, a shipbroker. “I would expect an immediate drop in Russian oil exports as the sanctions affect long-term contracts. This does not look good at all for Russian exports and the [domestic oil] industry in six to eight months.

One of the key areas of marine insurance is third party liability cover, which covers shipowners in the event of serious accidents such as oil or bunker fuel spills that can result in claims worth billions of dollars. dollars. Without such coverage, many ports refuse entry.

The maritime sector has its own special insurance arrangements through the International Group of P&I Clubs, 13 protection and indemnity insurers, most of which operate from Europe. They provide mutual insurance cover for 90% of ocean tonnage, pooling their risks, and rely on Lloyd’s for reinsurance cover.

Some P&I executives who spoke to the Financial Times said Iran’s oil experience would make it easier to comply with a Russian ban, but others see a Russian ban as adding to an already overwhelming compliance workload in due to other restrictions resulting from the conflict.

The EU has proposed a six-month phase-in period for the insurance ban, which could give Russia and interested parties time to sort through alternative cover in less-developed insurance markets such as India and China, and in Russia itself. Since the start of the conflict, Moscow has decided to strengthen the capacity of its public reinsurer.

In the case of Iran, Tokyo has begun offering sovereign guarantees to Japanese ships carrying Iranian oil. India has allowed ships to enter its ports covered by some Iranian insurers. Iran has its own P&I insurer, Kish, created as Western insurers withdrew.

Analysts, however, believe that the state-owned Russian, Indian and Chinese fleets are not large enough to handle all of the country’s oil exports on their own.

Some experts say shipping companies looking to transport Russian oil may find insurance capacity outside the UK and EU insufficient, while ports may not accept vessels covered by agreements outside the International Group of P&I Clubs.

Matthew Wright, cargo analyst at Kpler, said Russia would struggle to maintain the same level of oil exports when the ban comes into effect, but added: “There are still a lot of tanker owners who can operate under the radar. There are always loopholes and they will be exploited.