Tag: insurance coverage

Small insurance companies facing scrutiny receive IRS deal offer

G. Turner
InsuranceBee and Hiscox launch insurance agent partner program

The goal of the deal is to ensure tax payment plus interest in exchange for dropping the case. The I.R.S. has offered small insurance companies under tax avoidance scrutiny a way to avoid penalties through a new offer. This offer would give the insurers the opportunity to pay all outstanding back taxes – in addition to interest – in order to close their cases and face no further penalties. The Internal Revenue Service is working to help to correct the tax avoidance and prevent it in the future. The small…

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Fitch labels General Electric insurance “risky”, sending share prices tumbling

G. Turner
General Electric Insurance - long term care

A new report called the long term care insurance backer the riskiest one in that sector. A new Fitch Rating report referred to General Electric insurance as one of the riskiest backers of long term care coverage. It pointed to the company’s substantial claims exposure and comparatively small cash reserves for paying those claims. As a result of the new designation, G.E. saw its shares take a nose dive at the start of the week. The Fitch Ratings report is issued annually. The credit ratings agency underscored concerns outlined by…

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Consumers seek hurricane travel insurance coverage for their vacations this season

Julie Campbell
Hurricane travel insurance coverage - Hurricane in Key West

After a few years of activity during the Atlantic storm season, travelers are looking into their options. The last few years have come with active Atlantic storm season, encouraging travelers this year to look into hurricane travel insurance coverage. Travelers are looking into the types of policy available and how much it will cost. The hurricane season runs from June through November every year. While some seasons see barely any storm activity at all, others are highly active. This year has already seen storms and Barry managed to make landfall…

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Independent hairdressers are learning the importance of hair stylists insurance

Julie Campbell
Hair stylists insurance - haircut - salon

This type of policy is more affordable and provides more coverage than many professionals realize. Salon owners may realize that they need hair stylists insurance among their business policies, but independent hairdressers frequently don’t realize the importance of this coverage. What is independent hairdressers’ insurance? Hair stylists insurance provides you with vital professional and general liability coverage. This is important regardless of whether you are giving someone a quick trim or are creating a drastic new look. Many stylists don’t realize that this type of niche policy for an independent…

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US places of worship are buying active assailant insurance amid rise in shootings

Marc
Active Assailant Insurance - Play of religious worship

Religious centers across the country are purchasing added coverage against this terrifying trend. Places of worship such as churches, mosques, synagogues and other types of temple and religious center are buying active assailant insurance and other special forms of coverage. This move is meant to help the centers to protect themselves financially in case of an armed intruder opening fire on their premises. Many religious congregations have found themselves reassessing their current insurance policies. Following a rise in the number of shootings occurring in houses of worship, these religious centers…

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Japan’s insurance industry takes steps to stop genetic discrimination

Logan B.
Genetic discrimination - DNA

The Japanese industry is preparing guidelines to make sure insurers can’t collect customer DNA. The insurance industry in Japan is getting ready to create guidelines that would stop genetic discrimination by insurers in the country. They are seeking to ban health and life insurance companies from the collection or use of genetic information for purposes related to coverage eligibility or premiums calculations. Associations across the industry say they haven’t started using genetic info but the goal is to stop it. According to the Life Insurance Association of Japan, its members…

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Workers compensation technology is reducing claims frequency

G. Turner
Workers compensation technology - Computer - Business - Statistics

The use of tech within this insurance space is making positive changes to the market, says a new report. Workers compensation technology is proving exceptionally advantageous to the insurance market in terms of positive and sizeable changes, said an expert’s report. The tech is promoting reduced claims frequency, which is sending rates downward. The fewer the claims insurance companies receive, the less they must often charge for coverage. “We think it’s due to insurance companies doing better on the claims of their policyholders by using technology to drive down the…

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