Live Insurance News

Protect the Contents of your Home with Proper Insurance

January 9, 2013April 14, 2014 Guest Author

So many home buyers focus on selecting the right dwelling coverage that they often overlook the importance of choosing a homeowners insurance policy with adequate contents coverage. A home insurance policy providers dwelling coverage, liability coverage, and contents coverage designed to pay for your personal belongings if they are stolen, damaged, or destroyed. If you are not sure what to look for in terms of contents insurance when you are building a home insurance policy, read on and learn how to choose the right policy with the proper coverage limits…

Public insurance adjusters in Colorado face new regulations

January 2, 2013January 2, 2013 S.Vagus

State lawmakers devise new regulations for public insurance adjusters Public insurance adjusters in Colorado are likely to face tougher regulations in the coming year. State lawmakers are currently debating a new bill that will institute strict regulations concerning the operations of public insurance adjusters throughout the state. The bill would provide the state’s Division of Insurance. with the authority to suspend or otherwise revoke the license of a public insurance adjuster, power that the state agency currently lacks, while also tasking the agency with the enforcement of several new regulations.…

Allstate eyes return to homeowners insurance business

December 24, 2012February 16, 2021 S.Vagus

allstate homeowners insurance market news

Allstate beginning to make changes to business plan Allstate, one of the largest insurance companies in the U.S., is looking to get back into the homeowners insurance business. CEO Tom Wilson has announced that the company is working to improve customer loyalty after consolidating several independent agencies, acquiring smaller insurance providers, and a rate increase spree. Part of this effort is to begin expanding its flagging homeowners insurance business, which has shrunk by more than 1 million policies over the last four years. Homeowners insurance business may yield high returns…

Lenders ease their grip on claims funds for Hurricane Sandy relief

December 17, 2012December 17, 2012 Marc

Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy claims payouts to be freed due to agreement with Department of Financial Services Eleven of New York’s major lending companies have reached an agreement with the state’s Department of Financial Services. The agreement involved expediting the claims payouts that are due to homeowners that have been affected by Hurricane Sandy. Many of these homeowners are waiting on their claims payouts in order to begin the recovery process, but insurance companies have been issuing payouts at a sluggish pace for some time. The state government is keen to increase…

New title insurance policy approved by Florida regulators

November 22, 2012December 1, 2012 Nordstrom

Title insurance continues to be difficult subject in Florida Title insurance in Florida has long been a tricky business. The state is considered a high risk market due to its exposure to hurricanes and tropical storms coming through the Gulf of Mexico. As such, the title insurance maerket in Florida can be difficult to navigate for some consumers more than in other states. This often creates problems for consumers, but there may be some relief in sight as the Florida Office of Insurance Regulations approves new measures to ensure the accessibility of affordable insurance…

Senator Schumer takes aim at insurers in wake of Hurricane Sandy

November 12, 2012November 12, 2012 S.Vagus

Senator Schumer troubled over actions of insurance companies Hurricane Sandy has caused a lot of trouble for insurance companies, consumers, and state governments in the Eastern U.S. New York, in particular, has seen a great deal of these troubles manifest in the wake of the powerful storm. With storm surges causing widespread flooding and damages being done to homes and other properties, the state is reeling from the impact of Hurricane Sandy. Senator Charles Schumer believes that the troubles are just beginning for the state, however, especially as insurers look…

Severe weather leads to over $1.2 billion in insurance losses in March

April 10, 2012April 9, 2012 Marc

Insurance industry gets hit with huge losses for 2012. Global reinsurance intermediary, Aon Benfield, which is also responsible for the Aon plc capital advising, has released its most recent Global Catastrophe report edition, which provided an overview of the global natural disaster events of March 2012. The report was published by the catastrophe model development center of excellence for the company, Impact Forecasting. It showed that a number of serious weather events struck the Tennessee Valley, the American Midwest, and the Southeast of the country during the first week of…