Author: Marc

Lemonade homeowners insurance now available to French property owners

Marc
Homeowners Insurance - French Flag

The artificial intelligence-powered coverage is now being sold in France through an expanded partnership. The headline making home insurance company Lemonade, which is a digital coverage provider powered by artificial intelligence and social impact, recently announced that it has expanded its partnership with BNP Paribas Cardif and this has allowed them to start selling in France. French property owners can now purchase Lemonade policies Millions of property owners across France are now able to purchase extensive home insurance policies through Lemonade, a company known for a seamless digital experience from…

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State Farm issues thousands of California home insurance non-renewals

Marc
home insurance - Non-Renewals and where are the most in the US

The insurer is also withdrawing from the sale of commercial apartment policies in the state State Farm recently announced that it will be issuing around 30,000 non-renewal notices California home insurance and rental homeowners policies. The purpose of the decision is to ensure business sustainability in that market According to State Farm, the decision to issue the non-renewal notices within the California home insurance market is to “ensure its long-term sustainability” there.  It called the choice “difficult but necessary”. The non-renewals will impact around 30,000 homeowners, rental homeowners, and other…

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Lloyd’s of London Braces for Historic Loss After Baltimore Bridge Disaster

Marc
Francis Scott Key Bridge Crash 2024

The insurance industry, led by Lloyd’s of London, faces a potential record-breaking payout in the wake of the catastrophic Baltimore bridge collapse—a sobering reminder of the immense risks inherent in marine transport and infrastructure. A Behemoth of Insurance History for Lloyd’s of London Lloyd’s of London has long stood as an enduring icon in the insurance realm, demonstrating resilience amidst colossal claims. Among the most notable was the payout following the sinking of the Titanic, a testament to the enormity of marine risks that insurers like Lloyd’s contend with. The…

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Mercury updates Flume Water Monitor partnership to support home insurance policyholders

Marc
Home Insurance - House leaks - partnership

The insurer hopes the collaboration will help customers to decrease the risk of water leaks US insurer Mercury has announced that it is keeping up its partnership with Flume Water Monitor to support its home insurance policyholders. This announcement was made during Fix a Leak Week Flume Water Monitor, a leading smart water loss prevention tech company, offered additional savings to Mercury’s home insurance customers throughout that week. Policyholders were offered Flume at a discount of 25 percent off. Moreover, in certain qualifying states, the insurer also gave discounts on…

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US government encourages insurance companies to advance pay health care providers

Marc
Insurance companies - American flag - person offering payment

After a massive cyberattack, the government hopes insurers will make advance payments. The US government has called for insurance companies to choose to voluntarily send advance payments to health care providers who were affected by a massive cyberattack. The attack caused a disruption to the processing systems with insurers. According to the US government, the cyberattack had a “significant impact” and it is hoping that insurance companies will choose to send advance payments to health care providers in light of what happened.  The attack impacted Change Healthcare, a UnitedHealth Group…

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Insurance companies receive driver data from automakers

Marc
Insurance Companies collect driver data

Vehicle software can collect motorist driving behavior data and share it with insurers Insurance companies have been offering usage-based coverage plans to customers for several years, tracking driving behaviors in order to offer lower risk motorists the opportunity to save on their premiums. These plans use apps, dongles, or other forms of telematic tracking and transmitting methods The tracking can include recording how many times a motorist drives, how often they brake hard, if they speed, and how quickly they take corners. Many drivers have been hesitant to enroll in…

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Judge Rules on Allstate’s Million-Dollar Typo

Marc
insurance news

A case that pitted a Bend, Oregon couple against Allstate Insurance over a mistakenly high settlement offer culminates with the insurer’s error deemed non-binding by federal court. Court Rejects Allstate’s $1M Error The legal saga unfolded when Debra and Kevin Kilroy thought fortune had smiled on them, misled by a typo-infested settlement letter from Allstate which followed Debra’s traumatic encounter with an off-leash dog in 2020. A Painful Mishap with Life-Altering Consequences Debra, while walking on a local trail, suffered multiple fractures after being injured by the Great Pyrenees. The…

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