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Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk

Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk

LOS ANGELES, Oct. 12, 2020 /PRNewswire/ — Wildfire season is well underway, with wildfires scorching a record breaking number of acres up and down California, and the peak of the season is yet to come. Mercury Insurance (NYSE: MCY) today announced two new programs the company is launching to help Californians better protect their homes and families if they live in areas prone to wildfires. Homeowners who take one or more steps to either harden their homes against wildfires or live in a community recognized by the National Fire Protection Association® (NFPA) as a Firewise USA® site will be eligible to receive discounts of up to 18%.  And, homeowners who have a California Fair Access to Insurance Requirements (FAIR) Plan policy are now able to strengthen their protection with Mercury’s new difference-in-conditions endorsement, which fills the gaps in their FAIR Plan coverage.

Mercury Insurance is one of the first companies to offer wildfire mitigation discounts to California homeowners living in the wildland urban interface. Homeowners who take property and community wildfire prevention measures could be eligible to save up to 18% on the wildfire premium portion of their insurance policy.

“We’re in this together, which is why Mercury is engineering solutions to encourage proactive actions that better protect homeowners from wildfires,” said Jane Li, Mercury Insurance’s director of product management. “It’s important for homeowners in these areas to take proactive steps to help shield their property from fire, and it’s just as important for everyone in the community to work together to reduce their shared ignition risks, which could save them money and improve their insurance eligibility.”

The property level discount applies to policies for hardened home structures and landscapes with sufficient defensible space. Installing a class “A” rated roof, using siding made of stucco, metal or

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Global Automotive Usage-Based Insurance Market | Use of Smartphone-enabled Programs to Boost the Market Growth

Global Automotive Usage-Based Insurance Market | Use of Smartphone-enabled Programs to Boost the Market Growth

The global automotive usage-based insurance market size is poised to grow by 37.25 million units during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Automotive Usage-Based Insurance Market 2020-2024 (Graphic: Business Wire)

The growth in smartphone-enabled programs and their usage will be a significant factor driving the growth of the automotive usage-based insurance market. Automotive OEMs are increasingly collaborating with smartphone and tablet manufacturers to provide in-vehicle products and services. The growing demand for electric vehicle (EVs) has also encouraged the development of applications that allow consumers to connect their smartphones with their cars to check the real-time status of vehicle batteries. These factors coupled with the rising penetration of smartphones have resulted in the development of app-based UBI systems for the automotive industry. Hence, the increasing use of smartphone-enabled programs will fuel the growth of the automotive usage-based insurance market during the forecast period.

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Report Highlights:

  • The major automotive usage-based insurance market growth came from the pay-how-you-drive (PHYD) pricing scheme segment. The premium in the pay-how-you-drive (PHYD) pricing scheme is calculated based on the driving behavior of the driver. Continuous growth in vehicle ownership, an increase in customer demand for vehicles, advancement in technology, and increased availability of data are some

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How to Improve Corporate Financial-Wellness Programs

How to Improve Corporate Financial-Wellness Programs

Many wellness programs lack a centralized hub of resources for employees, says WSJ Wealth Management Expert Peter Lazaroff.


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Peter Lazaroff is chief investment officer at Plancorp and blogs at

Over the past decade, employers have added company perks to help with what employees report as their number-one workplace stressor: financial matters. Employers have a vested interest in helping their workforce reduce the stress they feel around personal finances. Employees’ financial worries often translate into reduced productivity, days missed at work, and disengagement at the office.  

But in my conversations with companies, I’ve identified some common shortfalls in corporate financial-wellness programs. So here are five solutions that I think are needed to create more effective benefits for workers:

Integrate with existing benefits. Many wellness programs lack a centralized hub of resources for employees, who often must go to one solution for retirement questions, another for student loans, another for equity compensation, and yet another for health savings accounts. This creates a disjointed experience and makes it difficult to coordinate all the various pieces, causing employees to leave money on the table by missing the 401(k) match, misunderstanding HSAs and inappropriately utilizing stock compensation.

Provide actionable education. Actionable financial education is central to financial-wellness programs because employees need to be guided to the right benefit at the right time. While basic information is useful, actionable financial education goes a step further by empowering employees to understand and utilize their benefits effectively.

It also must be comprehensive to meet the needs of employees of various demographics at different life stages. The way the material is designed matters, too. The best financial-wellness programs offer a mix of live and recorded sessions and short and in-depth content pieces, as not everyone learns the same way.

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