Live Insurance News

Could home insurance companies justify canceling policies with drone footage?

June 5, 2024June 4, 2024 Logan B.

Insurers in Florida are being accused of using aerial photos as evidence to cut people’s coverage Home insurance is already hard for many homeowners to find in Florida, as the state is currently suffering from a coverage crisis in that sector. Now media reports are popping up stating that insurers are using aerial footage collected by drones to justify cancelling a property’s coverage or declining to renew it. Reports are appearing that policyholders are receiving warnings from insurers A recent WFTV report showed that some home insurance customers have obtained…

Insurance agents that want to succeed must focus on digital

June 3, 2024June 3, 2024 Logan B.

insurance agents shouldnt ignore online customers

A recent J.D. Power survey showed that consumers want to shop and use services online As auto premiums skyrocket and consumers increasingly shop for better prices than what their current insurance companies have to offer, digital channels are playing a vital role in the overall consumer experience, said a recent J.D. Power survey report. People are turning to their laptops and phones for information Beyond informing themselves, consumers also expect insurance agents to let them obtain quotes and serve themselves online. This has become a critical way of doing business…

What was behind Berkshire Hathaway’s Chubb insurance company purchase?

May 29, 2024May 28, 2024 Logan B.

Warren Buffett’s company has been hiding a massive insurer purchase Berkshire Hathaway started buying again in Q3 2023 and has finally unveiled the largest publicly traded purchase that it has kept from the spotlight: Chubb insurance company. The Securities and Exchange Commission permitted the secret The Securities and Exchange Commission made it possible for Berkshire Hathaway, and its owner Warren Buffett, to maintain the secrecy of the purchase while the position was being arranged. Then, after the May 15 market close, the first quarter 13F was filed and revealed that…

Marsh offers tax insurance to support American clean energy investing

May 22, 2024May 20, 2024 Logan B.

Marsh has announced its new solution to help boost available capital for investing Marsh recently announced the launch of its new tax insurance solution that it is calling its Tax Investment Default Insurance. It is a new solution created to boost available capital for investments into federal tax credits associated with renewable energy projects in the United States. The new solution is meant to promote renewable energy investments As the Inflation Reduction Act of 2022 increasingly supports efforts such as clean energy and a hydrogen economy in the United States,…

Louisiana Governor Landry signs property insurance package

May 17, 2024May 16, 2024 Logan B.

The package was backed by Louisiana Insurance Commissioner Tim Temple Louisiana Governor Jeff Landry has now signed into law a property insurance package that had the strong backing of the state’s Insurance Commissioner Tim Temple. The goal of the measure is to help the state overcome its current coverage crisis. The package is meant to make the state’s market more industry friendly Four bills were signed by Landry in the hopes of benefitting the property insurance industry by granting new freedoms for raising customer rates, canceling policies, and facing fewer…

Hawaii residents rush to obtain newly required boat insurance

May 8, 2024May 7, 2024 Logan B.

The state now requires a new level of coverage, but boaters say it’s impossible to get The state of Hawaii has announced a new rule it wants boaters in the state to follow regarding their boat insurance coverage, but many people are saying that despite their best attempts, it’s not possible to comply. Coverage is required in order to use any of the state’s harbors However, the new regulation would have boaters purchasing $100,000 in boat insurance coverage for salvaging a vessel that has run aground. This is the case…

California lawmakers aim to bring insurance companies back again

May 3, 2024May 2, 2024 Logan B.

Congressional reps from the Bay Area are seeking to draw insurers with legislation changes Congressional representatives in California’s Bay Area are working on legislation that they hope will appeal to home insurance companies and bring them back into the state. California has been bleeding property insurers The new legislation could help insurance companies to decrease their losses by providing property owners with financial incentives to better their emergency preparedness. Though this might not stop some of the major threats to the area, such as wildfires, it could be beneficial in…