Live Insurance News

Insurance industry slammed by earthquake in Nepal

April 30, 2015April 28, 2015 Nordstrom

6.7 quake causes severe property damage in Nepal Nepal, a relatively small country bordering India and Tibet, has been struck by a major earthquake that is expected to produce a large number of claims for the property insurance industry. Over the past weekend, the country suffered from a strong earthquake, which caused significant damage to property near its epicenter. The earthquake was recorded as a magnitude 6.7, with its epicenter being approximately 10 miles south of Kodari, the border crossing from Nepal into the Tibet Autonomous Region. Insurance industry works…

Earthquake insurance is becoming more important in California

April 14, 2015April 11, 2015 Logan B.

Homeowners may need to prepare for an earthquake with the right kind of insurance coverage The United States Geological Survey has released a report that warns that California may experience a major earthquake in the next 30 years. The report claims that an earthquake of a magnitude of 6.7 or higher is coming, but there is no telling exactly when in the next three decades the event will come. Those living in the state may need to prepare for the disaster, but most Californian homeowners are unaware that there is…

Earthquake insurance may soon be more important than many Californians realize

March 16, 2015March 14, 2015 Julie Campbell

A new scientific report has shown that the state will nearly definitely be hit by a massive quake inside three decades. The results of a new U.S. Geological Survey are now showing that earthquake insurance could become one of the most important investments that the residents of California can purchase in order to protect themselves. The scientific report has shown that before 30 years have passed, the state will see a mega-quake almost definitely. The industry has been warning about the importance of earthquake insurance, particularly areas along the San…

Earthquake insurance is gaining more attention in Kansas

November 21, 2014November 18, 2014 S.Vagus

Recent quake leads to spike in interest for insurance coverage Demand for earthquake insurance is on the rise in Kansas. The state’s insurance agents are reporting that more people are becoming interested in coverage for natural disasters. Since a 4.8 magnitude earthquake struck the state last week, several insurance agencies have been receiving queries about the type of coverage they have to offer that can protect against such disasters. This new trend represents the most significant attention that earthquake insurance has received in the state in recent history. State is…

Kansas earthquake insurance demand is on the rise

November 20, 2014November 17, 2014 Julie Campbell

The recent 4.8 magnitude quake in the state is becoming an increasingly common event where it was once rare. Insurers and agencies in Kansas are reporting that they have been receiving a flood of inquiries with regards to earthquake insurance coverage, following last week’s tremor that was measured at 4.8 on the Richter scale. Traditionally, this has not been a state in which there has been all that much interest in that form of insurance policy. Employees of insurance offices, particularly in the Wichita area, have been reporting that they…

Lack of earthquake insurance could cause problems for the Bay Area

October 16, 2014October 14, 2014 Logan B.

San Andreas Fault Line California earthquake insurance

RMS report highlights dangers for the property insurance sector in the San Francisco region The San Francisco region may be struck by a powerful earthquake in the coming years, and the potential damage such a disaster could cause may not be covered by insurance. RMS, a risk management firm serving the insurance and reinsurance industries, has released a new report that highlights the impact that earthquakes may have on the insurance sector. In California, earthquake insurance is becoming increasingly rare, as consumers and businesses alike begin seeing this type of…

California is taking steps to promote earthquake insurance

September 26, 2014September 24, 2014 Nordstrom

Few homeowners in California have insurance protection against earthquakes Few people in California have earthquake insurance, and this is being considered a significant problem by the California Earthquake Authority and state lawmakers. The organization has begun working with Assemblyman Ken Cooley in order to address the issue. New legislation has been introduced, highlighting the lack of insurance coverage for the state’s homeowners. The legislation is expected to take effect in 2016 and requires insurers to provide homeowners with easily understood information regarding their insurance coverage and earthquake coverage. The number…