Home > Insurance News

Insurance News 04/2016



First Robot–Run Insurance Agency Opens for Business
Siber is the buff, blue-eyed and bald principal of the Buyonic Insurance Agency in Austin, Texas. This insurance android is more evidence that the future of mechanized businesses has arrived, with robots marching out of computer backrooms and off ...

When It Comes To Police Reform, Insurance Companies May Play A Role
For all the talk in the last couple of years about reforming police, there are limits to what the government can do. But there may be another way, and it involves insurance companies. John Rappaport, an assistant law professor at the University of ...

Prudential pulls a fast one on long-term care insurance policyholders
Buying long-term care insurance isn't an easy decision. It's an increasingly pricey product that requires you to look way down the road, to the possibility of shelling out big bucks for a nursing home or some other form of assisted living. The last ...

5 reasons why renters need insurance
Most insurance policies held by a landlord will cover damage to the structure of the building and very limited coverage for certain types of negligent situations, such as a landlord who is required to treat iced sidewalks. If the sidewalks weren't ...

Wizards, Warriors, and the Quest for LARP Insurance
Questing is treacherous business, and no one knows more acutely than the heroes and villains taking part in fantasy live action role playing (LARP) events. Luckily for their fictional personas, there are healing spells and potions in case of injury ...

Perseverance Pays When Filing Insurance Claims
When I consider insurance, I think about it as a bet I don't want to win. If I use my disability insurance, it means I'm hurt. If I file anauto insurance claim, it means I had a car accident. When I pull out my insurance card at the doctor's office, I ...

6 Things You Need to Know When Buying Home Insurance
Just like any other kind of insurance, there's no such thing as a one-size-fits-all policy. Home insurance policy costs typically depend on the home's location and age, the size of the deductible, and the coverage level. You'll have to look at these ...

Teambrella Wants to Revolutionize Insurance Coverage With Peer-To-Peer Bitcoin Payments
“Anyone who ever needed a reimbursement knows that insurance companies are actually not interested in paying out at all; it's not in their benefit to help their customers. We intend to remove that conflict of interest, and make insurance fair and ...

Longtime insurance agency owner merging, not quitting
His friends said he's an icon in Round Rock, where Johnson has run his insurance business for more than 50 years. Health issues have slowed him down and he is merging his business with another company, but the 77 year old says he's not ready to call it ...

Zurich Completes Acquisition of RCIS Crop Insurance Business from Wells Fargo
The two crop businesses, which are collectively known as Rural Community Insurance Services (RCIS), are among the country's biggest crop insurance providers, recording approximately $1.9 billion in gross written premiums in 2015, or about 20 percent of ...

Esurance Now Offers 'Election Insurance'
Leo Burnett Chicago drags out the “Election Insurance” joke for a full two minutes. Spokesman Jon Krasinski provides the usual narration, citing Esurance as “the insurance company that evolves with you, whether you're settling down to start a family, ...

OnRamp Insurance Conference reflects changes coming at industry
Chicago — The insurance industry is ripe for innovation, and venture capitalists are going to make it happen. That was one of the main topics at the OnRamp Insurance Conference in Chicago Thursday. Executives from American Family Insurance, Goldman ...

Pet owners turn to pet health insurance for serious illness, accidents: Animals in the News
Citing figures from the North American Pet Health Insurance Association, Consumer Reports reveals that about 1.4 million pets in the United States and Canada were covered by a plan at the end of 2014. That's less than one percent of about 174 million ...

Flood insurance rates increasing for many homeowners
Flood insurance will only be federally required for those who live in a high-risk flood area like waterfront properties. Holly Mitchelson, a real estate agent and president of Florida First Insurance Group, in Arlington, told News4Jax it's better to be ...

Why Middle Class Consumers Don't Use Government Health Insurance Exchanges
Middle class Americans are purchasing health insurance plans from private insurers instead of subsidized government plans, because many of them are earning too much money to qualify. Americans in this category are earning wages that are above the ...

Lawmakers want MinnesotaCare publicly sold to help address insurance costs
The Huinkers aren't the only people in Greater Minnesota who are paying considerable dollars for health insurance. In areas like southeast Minnesota or south-central Minnesota, health insurance can get up to 40 percent more expensive than similar plans ...

East Liverpool families forced from homes say insurance not covering damage
EAST LIVERPOOL, Ohio (WKBN) – East Liverpool families who were evicted from their homes due to cracks on Lisbon Street and to the foundations of their homes are not getting any help from their insurance companies. Drilling began in the area Thursday in ...

ICICI Bank sells part stake in insurance firms for Rs 2200 crore
The bank has sold 9% shareholding in ICICI Lombard General Insurance Company to its joint venture partner Fairfax Financial Holdings, ICICI Bank said in a statement. "Following the receipt of the requisite approvals, the bank completed the transfer of ...

The Uninsurables: New Zealanders who can't get insurance
"Simply just having insurance cancelled doesn't necessarily preclude the ability to obtain insurance," Grafton said. "If the person was not dishonest, then they should be able to get insurance, so it really depends on the reasons why the insurance was ...

New flood insurance scheme starts next week - but will it stop the rising cost of premiums?
Relief is on the cards at last for owners of flood-prone homes struggling to find insurance, when an industry scheme launches tomorrow to cap the cost of cover. The scheme, called Flood Re, was set up to make sure insurance is affordable for those ...

Money Matters: Couple seeks advice on life insurance coverage
Q. We are married with two children and finally have wills in place but we have not purchased any life insurance. My husband has about $150,000 on him and $50,000 on me through his work and it's really cheap. We know that's not enough coverage but ...

Arm-twisting extracts health insurance discount up to twice the size of average rize
“This is a big win for 'People Power' and for all the households who joined this campaign,” said Joel Gibson, spokesman for consumer network One Big Switch which ran the Big Health Insurance Switch. “These households have helped create a new offer ...

Bob Dyer: Insurance company finds fault with the faultless
Well, yes, that was a long time ago, and a lot of things have happened since then. But don't try telling that to Timothy Manning. One aspect of Manning's life hasn't changed a bit since the last day of 2015. On that morning, the 54-year-old Massillon ...

Sherer Insurance trades hands from First to USI
USI Insurance Services has acquired Terre Haute-based Forrest Sherer Insurance, formerly a subsidiary of First Financial Corp. Cecile Locurto, a spokeswoman for USI, confirmed to the Tribune-Star on Friday that First Financial had sold the insurance ...

IRS needs health insurance documentation
Form 1095-A, Health Insurance Marketplace Statement, provided by the health care marketplace to individuals who enrolled, or who have enrolled, a family member in health care coverage through the marketplace. A taxpayer will only receive this form if ...

Emerald Life looks to address LGBT insurance concerns
An insurance provider which has unveiled products specially aimed at the LGBT community has said that gay people often feel ignored when buying financial services. Emerald Life, based in London, launched last week with home, life, wedding and pet ...

Is your tumble dryer invalidating your home insurance?
Millions of households across Britain could be invalidating their home insurance when they use their tumble dryer if they do not follow strict guidelines from the manufacturer. Whirlpool, which owns the Indesit, Hotpoint and Creda brands, is in the ...

State employees told to prove health-insurance dependents
Some 100,000 state employees and retirees are being asked to prove they are not living in sin, or risk losing their health insurance. Even those married for decades have until April 15 to submit proof of their legal union, such as a marriage license ...

That dirt-cheap car insurance quote can wind up costing you
Almost all car owners have to fit auto insurance into their budget — and it's a tighter squeeze than most prefer. So when you stumble upon a dirt-cheap car insurance quote, you might feel like pinching yourself. But can getting “an amazing deal ...

Long-term care insurance: Less bang, more bucks
Mary Julia Klimenko, 69, thought she was being wise when she invested in a long-term care insurance policy 20 years ago, but her monthly premiums have nearly quadrupled over the past two years. Klimenko is furious with the choices she's been given: Pay ...

The insurance tech equation
Insurance policies can be complex, and some policyholders may not understand all the fees and coverages included in a policy. Indeed, people typically buy policies on unfavorable terms. In 2014, two major insurers, Blue Shield and Cigna of California ...

Some Monroe residents dropped flood insurance, now regret it
MONROE, La. (AP) - Some Monroe homeowners dropped flood insurance when they got the choice, and are now regretting it. Some homeowners in the area got notices from their mortgage company saying they were no longer required to buy flood insurance ...

Updated flood maps could mean cheaper insurance for many New Orleans homes
Landrieu said significant improvements in drainage and flood protection contributed to the cheaper flood insurance rates that could come to many homes. The flood maps are available online for viewing. City officials said areas have been changed from a ...

Flood re scheme launched to offer affordable home insurance in at-risk areas
A new flood insurance scheme to help at-risk households get more affordable cover has launched. Flood Re aims to re-energise the home insurance market for households living in flood-prone areas - and it could mean that for the first time in years, some ...

Shareholders seek better returns from insurance sector
In a document titled: “Shareholders Concerns on Growth and Insurance Penetration and its Regulation by NAICOM” signed by the association's president, Mr. Boniface Okezie, they pointed out that the amended company income tax act 2007 is punitive to ...

Car insurance fee covers policing
Q: I just received my six-month insurance bill for two cars and it included a $5 Law Enforcement fee per car. I checked with my insurance company and was informed that a $5 fee was charged for every insured vehicle in the state, ostensibly to aid law ...

K2 Insurance Acquires MGA, Launches Workers' Comp, Accident Program with QBE
Program specialist K2 Insurance Services (K2) has acquired a New Jersey managing general agency specializing in workers' compensation alternatives and also launched a nationwide workers' compensation program with another Kentucky program ...

Low Crop Prices Sink Insurance
Chad Hart and extension economist at Iowa State University says, "Typically our crop insurance prices is a lower percentage of basically our production cost. But what we had had in 2010 through 2013 was a time where we could actually ensure some ...

What's in a Name? Insurance Coverage?
Are insureds required to notify the insurance company of a change in business form and structure after the inception of the initial policy? This issue recently came before the United States Court of Appeals for the Tenth Circuit in Christy v. Travelers ...

Brexit bad for UK's insurance business, say two-thirds of traders at Lloyd's
More than two-thirds of traders at Lloyd's of London say Brexit would be bad for the UK's £60 billion-a-year insurance business, according to a report. The survey, commissioned by City PR firm Haggie Partners, said 68.7% of brokers and insurers believe ...

For 26-year-olds, good health meets insurance anxiety
The dreaded age of 26. Many of you are thinking: Huh? What I wouldn't give to be 26 again! Well, I'm here to tell you that 26 can be a scary age. It's the expiration date, so to speak, for children covered by their parents' health insurance. Older ...

Morgan Joins Insurance 'Pretiree' Job Network WAHVE as Marketing VP
“We are taking our proven model — providing expert insurance professionals to insurance organizations — and expanding it to serve greater numbers of jobs, firms and 'pretirees,'” said Sharon Emek, founder of WAHVE. “Every employer in the insurance ...

National insurance figures set to inflame Brexit
Brexit supporters seized on the revelation, in February, that 630,000 national insurance numbers had been issued to EU nationals in the past year, more than twice as high as the 257,000 recorded in the IPS estimate of immigration levels. But those ...

Insurance runaround for Raleigh couple
A Raleigh couple had dental insurance, but when they went to use it, they were told their insurance couldn't be found. Barbara Holladay needed a new crown put on one of her teeth. While at the dentist, the office staff told Barbara's husband, Harry ...

IMF: Insurance industry a growing risk to financial system
In a new report, the IMF found that the insurance industry, particularly life insurers, have taken on a more important role in the global financial system and are particularly susceptible to some economy-wide risks. As such, the international body ...

Flood Maps May Change Insurance Premiums
Lexington, SC (WLTX)- Over a thousand new structures were added into the flood map in Lexington County alone, this may mean changes in your insurance premiums. A Flood Map is made by FEMA to show the flood risk in an area. It helps set minimum ...

Player in international tax evasion scheme part of Ethan Allen insurance scam
That man — an accountant from the Caribbean island of St. Kitts named Malchus Irvin Boncamper — pleaded guilty to money laundering for the insurance scam before a federal judge in Houston in October 2011, becoming one of five suspects to be convicted ...

Motoring group AA full-year earnings drop 3.3 percent, insurance hit
L) reported a 3.3 percent drop in trading earnings for its financial year on Tuesday, partly due to a fall in contributions from the insurance business. AA provides roadside recovery and insurance broking services and started underwriting insurance in ...

S&P: Two-Thirds of Insurance M&As Fail to Improve Financial Strength
“We believe the deal flow for M&A in the insurance industry will continue in 2016, albeit more slowly,” Standard & Poor's analysts led by Dennis Sugrue said Monday in a report. “While a successful M&A can benefit the surviving entity, the general ...

NextGxDx marks 'milestone' with first insurance client
NextGxDx has signed its first health insurance client, which expands its presence across the spectrum of health systems, genetic testing labs and payers. The contract under its new GenePayer product is "a very significant milestone" for the 5-year-old ...