Live Insurance News

Insurance Agency Management Software: Criteria, Benefits, and Types

July 15, 2021May 23, 2024 Guest Author

data management insurance claims software technology1

Insurance companies deal with a vast amount of data that needs to be managed. However, even with a well-managed workflow, it can be challenging to predict issues that’ll emerge. This is where insurance management software is good for. Keep up with this post to know how to choose the right software solution for insurance companies and what advantages these systems bring. The Key Criteria of Insurance Agency Management Software Insurance management systems include both CRM software and ERP software features. These tools boost effective business management. Their primary goal is…

When Does Your Business Need Fiduciary Liability Insurance?

July 14, 2021July 12, 2021 Nordstrom

Fiduciary Liability Insurance - man looking at computer in thought

This coverage provides a company with protection against certain forms of mismanagement. A fiduciary liability insurance policy is what provides a company and its employees against the claims that could arise due to mismanagement of benefits plans and the legal liability that can result from those claims. That said, while some businesses definitely need this coverage, others simply don’t require it. A fiduciary liability insurance policy protects a company against fiduciary mismanagement. That said, it will not provide protection to a company in fraudulent cases of theft. It’s important to…

SBA requires a business hazard insurance policy for an EIDL loan

July 14, 2021July 14, 2021 G. Turner

business hazard insurance required by SBA

Small businesses receiving Economic Injury Disaster Loans will require the coverage. The Small Business Administration (SBA) is requesting that applicants for Economic Injury Disaster Loans (EIDLs) provide proof of hazard insurance, which is a type of business owners policy insurance. Business owners are advised to inform themselves about how much insurance they need for an SBA loan. The SBA is requesting hazard insurance from applicants applying for EIDLs. Therefore, small businesses will find it worth their while to learn about this type of coverage, how to get it, and how…

Is Driving A Truck Or SUV Better For A Family?

July 13, 2021 Guest Author

In the US, the number of vehicles on the road is increasing at an alarming rate. As a result, many families are now choosing between SUVs and trucks. The question is, “Is driving a truck or SUV a better choice for a family?” The answer depends on several factors. Some of the factors are the type of vehicle, how many people will be in the car, how many children will be in the vehicle, how much storage space is needed, and what type of vehicle is needed for the family’s…

GEICO publishes tips for driving in heavy rain for Florida auto insurance customers

July 13, 2021July 12, 2021 Julie Campbell

Driving in heavy rain - car driving in rain

Hurricane Elsa mainly spared the state, but heavy rain and high water still make roads dangerous. GEICO has published a list of tips for drivers in Florida and other states affected by hurricanes, to help them with driving in heavy rain while remaining safe. High water and flash flooding can rapidly become a high risk for people even when in their vehicles. Driving in heavy rain can be a daunting experience. When done improperly, it can also be a dangerous one. Ready.gov points out that it takes as little as…

Lloyds insurance communication failures lead to $125 million

July 12, 2021July 9, 2021 Marc

The unit was fined £90.7 million for failing to ensure its policy language for home coverage was clear. Lloyds Banking Group Plc. (LON stock symbol LLOY) has been fined £90 million ($125 million) for insurance communication failures. The fine was issued by the UK Financial Conduct Authority for the insurer’s unclear policy language. The UK Financial Conduct Authority (FCA) fined Lloyds for its insurance communication failures in the language it used in millions of homeowners’ policies. According to the FCA, the Lloyds insurance division issued almost nine million communications between…

4 Important Insurance Plans and Their Benefits for You

July 9, 2021 Live Insurance News

Some insurance plans remain essential in life no matter how expensive they can get. For this reason, it’s best to understand the situation of your living condition and your needs in cases of emergency to reasonably choose plans for insuring yourself and your loved ones. However, there is something called too much insurance, which can put a strain on your savings or income and may hurt you more than protect you. Different types of insurances have various benefits; for example, they can increase your credit score and insurance portfolio, other…