A million Nationwide Insurance customers get an Amazon Echo Auto

Echo Auto - Bobbleheads Nationwide Jingle Sessions - Nationwide Insurance - YoutTube

This new partnership will double the current user base of the online marketplace’s in-car device user base. In September, Nationwide Insurance announced its intentions to give Amazon Auto Echo devices to one million customers. These devices were to be issued to new and existing qualifying car insurance policyholders. At the same time, the insurer announced three additional Nationwide Insurance Alexa Skill features. Nationwide Insurance Alexa Skill first launched back in 2016. The Echo Auto giveaway is meant to help promote this program. It also places the spotlight on the new…

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Hobby farm insurance offers solutions for operations of all size

Hobby Farm Insurance - Chickens and Rooster

It’s important to make sure a policy provides the right amount of coverage for each component. Hobby farm insurance is a unique type of coverage because many types of growers policy are designed for much larger operations. That said, the right coverage does exist, and it’s important to make sure your policy is a solid fit. Hobby farming is far from the large industrial operation that are commonplace across the country. The type of hobby farm insurance you require depends on what you’re doing, how you’re doing it and where…

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Lloyd’s of London insurance market will write online for the first time in 2020

Lloyd’s of London - London Buildings

The industry’s largest market will finally begin writing electronic business next year. Lloyd’s of London, the largest insurance market in the world, has finally announced that it will be taking its first steps into writing online. It will write its first business electronically beginning in 2020. The first online-only policy writing will begin operations as of January 1, 2020. The largest reinsurer in the world, Munich Re, will start writing policies by way of an online-only syndicate at the beginning of next year. This, according to statements issued by both…

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Small insurance companies facing scrutiny receive IRS deal offer

Small insurance companies - Business

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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Home sharing participants need short term rental insurance coverage

Short Term Rental Insurance - Airbnb

Airbnb, VBRO and HomeAway members need special coverage for brief or seasonal rentals. Home sharing has become a popular way to earn extra income from a property, but all too many of those owners fail to obtain short term rental insurance. Regardless of whether a condo, seasonal property or home is rented in its entirety or just a portion, these guests are not typically covered by standard homeowners insurance. That said, this doesn’t mean that there isn’t any coverage at all for these helpful income sources. There are many home…

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UK insurance industry sees $75 billion shift as Brexit sends business out of London

UK insurance industry - Brexit - Map of Europe

Firms are shifting their centers out of London and into rival EU locations as the UK readies to leave. As much as $71 billion from the UK insurance industry is stepping out of London and is headed into locations throughout the European Union. The shift away from the capital city and into the EU is occurring as a direct result of Brexit. The EU’s insurance and pensions regulator has issued an order to every underwriter across the UK insurance industry. Those firms are required to transfer policies held by clients…

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

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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