Live Insurance News

Massachusetts insurance industry helping Massachusetts towns recover from explosions

October 3, 2018October 1, 2018 G. Turner

Massachusetts insurance industry gas explosion support

After three towns suffered natural gas explosions, carriers are helping them get back on their feet. As three towns in continue to recover from several natural gas explosions, the Massachusetts insurance industry is trying to help. Certain specific insurance companies have stepped up to try to assist with the return to normalcy. The natural gas explosions rocked their communities as one person was killed and 25 were injured. Certain parts of the Massachusetts insurance industry have reached out to try to help those who are affected. The blasts occurred on…

Insurance industry may see more losses due to earthquakes

August 27, 2014August 25, 2014 S.Vagus

New report highlights the growing risks associated with earthquakes The Insurance Information Institute has released a report predicting that losses associated with earthquakes will continue to rise in the U.S. There are many factors contributing to growing losses, including a higher degree of urban development in areas of the country that are seismically active. Older buildings are also exposed to earthquake damage due to the fact that they do not comply with current building codes. This factors are driving up the financial burden that earthquakes represent for the insurance industry.…

Earthquake insurance sales continue as Oklahoma works on emergency plan

August 8, 2014August 5, 2014 Julie Campbell

A state legislator is working with a veteran petroleum geologist to come up with a strategy. As the sales of earthquake insurance continue to rise in Oklahoma due to the exploding rate of tremors in the state, a state legislator has now started working with an experienced petroleum geologist in order to develop an emergency plan for dealing with this new risk. They are also calling on other experts in various fields to provide their assistance in this effort. State Senator Jerry Ellis and geologist Bob Jackman are working to…

Earthquake insurance reminders come in many forms

March 31, 2014March 29, 2014 Julie Campbell

From the 50th anniversary of the Great Alaskan Earthquake to the tremor in Southern California, risks remain present. Another tremor has rocked Southern California, this one on Friday, just in time for the fiftieth anniversary of the quake that occurred in Alaska and to remind business owners and homeowners of the importance of earthquake insurance. This is the second quake to strike California in as many weeks and it sends a message to property owners. Earthquake insurance is not included in the standard homeowners or business policy and should be…

Earthquake insurance shakes up homeowner confidence

March 11, 2014March 10, 2014 Julie Campbell

After the 6.9 magnitude quake shook Northern California, standard policyholders wonder about coverage. Recent tremors over the last few days have spiked the number of calls that homeowners and earthquake insurance companies have been receiving in order to find out what type of coverage they have and to make sure that they do have protection if the “big one” should strike. The California quake has received the most attention, but there were two in South Carolina, as well. Those two rumbles were notably lower than their Californian cousin, at a…

Earthquakes send ripples through homeowners insurance industry in Oklahoma

April 25, 2013April 30, 2013

Small quakes cause some concern in the homeowners insurance space A recent outbreak of earthquakes in Oklahoma has caused some waves in the homeowners insurance sector. Over the past month, several small earthquakes have been reported throughout the state. In many cases, these quakes are not large enough to cause any significant damage, often only knocking pictures or books from shelves. According to the U.S. Geological Survey, these quakes range in magnitude from 2.8 to 4.3, barely enough to be felt by anyone, but enough to cause some concern. Frequency…

Earthquake insurance premiums fall for some California customers

December 3, 2012April 30, 2013

Some consumers in the state will find that rates are dropping so that the coverage is more affordable. Two major earthquake insurance companies in California have just announced that they will be lowering the rates that they charge for the coverage against tremors in the state. The approval was given to the insurers by the commissioner of the state on Friday. The commissioner in California, Dave Jones, made his announcement on Friday, which said that he had approved a rate reduction of 15 percent for earthquake insurance policies provided by…