Live Insurance News

US regulator task force to target cyber insurance

February 3, 2015January 31, 2015 Logan B.

Cyber insurance will be the focus of a new task force launched by the National Association of Insurance Commissioners The National Association of Insurance Commissioners has created a new task force that will be focused on cyber security. The task force is meant to increase consumer protection, introducing new regulations that target the insurance industry. Insurers collect valuable information from their customers, but new risks are emerging in the digital world that put this information in danger of theft and exploitation. The new task force could help foster further innovation…

Insurance industry now equipped to deal with celebrities

February 2, 2015January 31, 2015 S.Vagus

Celebrity behavior could cause endorsement deals to collapse, but the insurance industry is prepared Celebrities can be a costly investment. The behavior of celebrities is often headline-worthy news, as these people can often be very eccentric and unbridled. This can cause trouble for brands that endorse these celebrities, however, and the behavior of celebrities can cause unexpected damage to a company that supports them. Such was the case with Michael Phelps, the most decorated Olympian of all time, when his antics caused his endorsement deals with several companies to collapse.…

New insurance industry group could be good for Indiana

November 12, 2014November 11, 2014 Marc

Insurers team with education and economic organizations to form new industry group Specialty insurance companies in Indiana have partnered with education and economic organizations to form Northeast Indiana Specialty Insurers (NISI). The new organization aims to promote talent development, marketing, and advocate new opportunities within the regional insurance industry. The group was formed because of the high concentration of insurance workers in the region. This high concentration can make it difficult for individuals and organizations to take advantage of new opportunities, and some may lack the skills or experience needed…

The insurance industry in Japan offers unique Valentine’s Day coverage

February 11, 2013February 11, 2013 Julie Campbell

Insurance agents industry valentine's day

This product is available for consumers in the country who want to make certain that they’re covered on the day. In Japan, the insurance industry is helping people to lower their risk of coming up empty handed on Valentine’s Day, with a new policy that is designed to ensure that policyholders always have something to receive on the most romantic day of the year. Consumers who purchase this policy will never find themselves without a box of chocolates. This unique addition to the insurance industry in Japan is designed to…

Law firms battle wave of suits with insurance coverage

February 7, 2012May 5, 2013

Though it was once quite rare for a large law firm to face a lawsuit of its own, the frequency of claims being aimed directly at lawyers is rapidly increasing, and the firms are now boosting their insurance coverage to help to protect themselves against costly liability claims. According to legal experts, suing lawyers and their firms got started in the 1980s. This was also especially the case among the law firms that represented collapsed financial institutions in the Savings & Loan crisis, who were targets for FDIC litigation. Today,…

Space travel insurance policy available from Allianz in 2012

November 18, 2011 Nordstrom

In an effort to be the first in the industry to take advantage of the upcoming wave of “ordinary astronauts” who will be taking the first commercial trips into space next year, the German insurance giant, Allianz, has announced that in 2012 it will begin selling space travel insurance policies. The sale of these policies will align with the launch of the spaceflight company called Virgin Galactic, owned by Virgin Group’s Richard Branson. There have already been approximately 450 people who have made seat reservations with Virgin Galactic for its…

New racing insurance program offered for drag series

November 5, 2011November 5, 2011 Nordstrom

The Quick 32 Sportsman Series, in partnership with the Pro Modified Racing Association, have announced that they will both be participating in ChampionsEdge.ca, a form of race car insurance that has been designed specifically to insure the competitors that will be taking part in the two series of drag races. The program will be working through the Markham, Ontario-based Insureit Group Inc., which will provide specialized off-track coverage for the race participants. Coverage from the insurance program will include losses from theft, fire, hail, vandalism, derailment while the racer is…