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Archive for the Live Insurance News Category

Kidnap insurance protects companies in the case of ransomware

Businesses that have not purchased cyber insurance policies are looking to alternative coverage for WannaCry losses. Companies without cyber insurance are reportedly making claims through their ransom, extortion and kidnap insurance policies in the hopes of recouping losses from WannaCry and other ransomware. The issue is that […]

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New York auto insurance rate calculation factors may soon drastically change

A new proposed rule would stop education and employment from affecting a policyholder’s premiums. State Financial Services Superintendent Maria Vullo proposed a change to the New York auto insurance rate calculations. The change would stop insurance companies from using a motorist’s education level or job from being […]

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New Hampshire insurance exchange won’t lose any insurers in 2018

Regardless of the uncertainty in the industry, all companies have indicated their intent to return. The New Hampshire insurance exchange won’t be following the trend of states losing insurers next year. Instead, the marketplace has managed to hang on to the companies currently selling health plans there. […]

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Texas insurance companies may soon see drop in lawsuits

A new bill in the state House would discourage homeowners from suing as a result of certain claims. Texas insurance companies could soon find themselves facing fewer lawsuits relating to claims involving weather damage. The Texas House passed a bill discouraging homeowners insurance policyholders from filing lawsuits […]

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State Farm homeowners insurance customers may soon receive a refund

The same may be said for many renters insurance policyholders in California. State Farm homeowners insurance and renters insurance customers in California may soon be receiving refund payments. The insurer is sending the checks to customers as a result of a decision made by the state Department […]

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Aetna health insurance withdrawing from ACA exchanges next year

The company has announced its departure from all marketplaces across the country in 2018. A number of large insurers have stepped out of certain specific marketplaces, but Aetna health insurance is backing out of the entire country. The health insurance company had already withdrawn from certain states, […]

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Canadian flooding may leave homeowners paying out of pocket

Heavy rains soaked huge portions of Ontario and Quebec as well as British Columbia and New Brunswick. The Canadian flooding from last week’s record level rains caused water levels to rapidly rise and enter thousands of homes. The lack of flood insurance among homeowners now means that […]

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California insurance commissioner candidates take aim at Trump in campaigns

In the race for the top spot in the state’s Insurance Department, the president has become a political target. The race for the 2018 California insurance commissioner position is heating up and President Trump has become one of the central campaign political targets. State Senator Ricardo Lara […]

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Berkshire insurance business suffers wounds in its earnings

That branch of Warren Buffett’s company faced significant challenges during this year’s first quarter. The Berkshire insurance business struck a difficult patch during the first quarter as those units of the company posted an underwriting loss. The losses took the spotlight away from the other gains Berkshire […]

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What could the GOP health care repeal do to California consumers?

If the U.S. Senate chooses not to block the bill or to significantly revise it, many Californians stand to lose coverage. Should the GOP health care repeal of the Affordable Care Act make its way through the U.S. Senate in its current state, many Californian consumers risk […]

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