Live Insurance News

Homeowners insurance policies will typically cover destruction from wildfires

July 12, 2012July 12, 2012 Dan

The fires in Colorado have caused many – affected and not – to look at their own coverage. As hundreds of Colorado homes are destroyed by wildfires, many find themselves looking to their own homeowners insurance to find out what coverage they have in the case of a similar circumstance in their own areas. Fortunately – for both those affected and not – the typical policy does cover this type of damage. According to a spokesperson for the Insurance Information Institute, Michael Barry, wildfire is among the forms of destruction…

Aviva makes insurance news by releasing its plans to ride out the economy’s downturn

July 10, 2012July 9, 2012 Dan

The insurer will be trimming the fat to survive the downturn. Aviva, the number 2 insurer in the United Kingdom, is making insurance news by selling nearly a quarter of its businesses in a dramatic effort to rebuild investor support following struggles with its declining share price. The company’s new chairman, John McFarlane, hopes that this shake-up will be just what is needed. McFarlane stepped in following the removal of Andrew Moss in May 2012, when Aviva’s stock performance was strikingly weak. He will be taking the axe to sixteen…

Health care reforms refusal by Governor Scott may force federal control

July 8, 2012 Dan

Florida may not be running its own mandatory statewide insurance exchanges. The refusal of Governor Rick Scott to implement Florida’s federally mandated insurance exchanges as per the health care reforms that have just recently received the nod from the Supreme Court, means that nothing has been prepared for the January 2014 deadline. This makes it likely that the federal government will need to control the marketplace for that state. This control means that the state will not be able to choose how its exchanges operate, what the required benefits that…

Many homeowners insurance policyholders don’t understand their storm protection

July 6, 2012July 6, 2012 Dan

In the event of severe weather, most don’t know specifically how they are covered. Though the importance of homeowners insurance is undisputed among most people who have purchased a house, the sad truth is that the majority of policyholders don’t actually know what kind of coverage they have in the event that a storm should come along and cause damage to their properties. A MetLife survey’s results have shown that 31 percent don’t know exactly how much coverage they have. Equally, another 46 percent of the respondents couldn’t say which…

Insurance news report shows global prices increased 1.4 percent worldwide

July 5, 2012July 4, 2012 Dan

The Marsh data was included in its index for Q2 2012. If the forecasts based on the most recent insurance news report from broker, Marsh, are accurate, then the worldwide prices are aligned for a third consecutive quarter of increases, as the industry works to strengthen its financial situation following the sizable catastrophe claim payments in 2011 that approached record levels. The second quarter 2012 average global prices were 1.4 percent higher than they were last year. According to the Marsh Risk Management Global Insurance Index – which tracks the…

Teen driving statistics show July 4 is the deadliest day of the year

July 2, 2012July 2, 2012 Dan

Adolescent Americans are at the highest risk of fatal accidents on Independence Day. Though summer is meant to be a time of fun and relaxation, teen driving statistics show that it is also the season in which adolescent motorists are most likely to be involved in a deadly crash. The Insurance Institute for Highway Safety (IIHS) has released new data showing July 4th is the most dangerous. It is on that day that the highest number of teenagers behind the wheel will be involved in accidents. Teen driving statistics show…

California auto insurance companies join with Commissioner to improve teen driving safety

June 21, 2012June 26, 2016 Dan

teenSMART makers working to improve the 100 deadliest days for adolescent motorists Commissioner Dave Jones held a press conference regarding California auto insurance safety for young motorists, in conjunction with industry leaders and experts to help to try to encourage safer driving practices during the 100 Deadliest Days for Teen Drivers, which starts before the beginning of summer. Jones was joined by the CEO of ADEPT Driver (maker of teenSMART), Dr. Richard Harkness, AAA Insurance, and retired CHP officer, Bryan Lilly, who has teenaged children. They worked together to try…