Canadian insurance industry sees areas of growth throughout pandemic

Canadian insurance industry - Canadian Flag

While the COVID-19 crisis rages on, and insurers face challenges, some are thriving. The Canadian insurance industry has measured some pockets of growth in specific areas of coverage throughout the pandemic crisis. Insurers are struggling in the areas of coverage disagreements, particularly in business interruption policies. Business interruption and travel policies are often leading to disputes over coverage, lawsuits, angry clients and customers, and economic challenges among others. However, in other areas, some considerable opportunities have opened up for certain types of product lines to grow and developed. Among those…

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Signed Kurt Cobain homeowners insurance policy is being auctioned off

Kurt Cobain - Home insurance signature

The document was for the coverage of the home in which the Nirvana lead singer was found dead. A homeowners insurance policy bearing the rare full signature of the late Kurt Cobain is being auctioned off by Inscriptagraphs Memorabilia. Goldin Auctions is brokering the sale of the item on behalf of the memorabilia company. The policy’s signature is considered particularly rare as Kurt Cobain was not in the habit of signing his full name. His autograph typically consisted only of his first name. In this particular instance, he wrote his…

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Cheers tavern owner files business interruption insurance lawsuit over claim denial

Business interruption insurance lawsuit - Cheers Tavern in Boston

Hampshire House attorneys say its insurer has refused to pay claims relating to COVID-19. Owner of several restaurants in Boston including the famous Cheers tavern, Hampshire House, has filed a business interruption insurance lawsuit. The suit was filed when the company’s insurer denied the claims it filed in response to pandemic crisis shutdowns. The company is facing the loss of millions of dollars due to the pandemic lockdowns, said attorneys. The business interruption insurance lawsuit was filed against Fireman’s Fund Insurance and Associated Indemnity Corporation and Allianz Global Risks United…

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Lack of TV and film insurance could bring Hollywood to a halt next year

Film insurance - clapperboard

Without the necessary coverage, movie and television series releases could be few and far between. TV and film insurance coverage availability has plummeted for independent movie and television productions for COVID-19 illness risk. This shift directly threatens the number of new video entertainment to be produced and released in 2021. Insurers and industry experts have joined Hollywood producers in stating that there could be a short supply of new productions for 2021. Thousands of television and movie productions came to a sharp stop around the world in March as the…

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Blue Cross Blue Shield of NC joins insurance commissioner to build rural fire houses

Blue Cross Blue Shield of NC - Fire truck in fire station

Insurance Commissioner Mike Causey worked with the insurer to pay for the building construction. Blue Cross Blue Shield of NC and the state’s insurance commissioner, Mike Causey, joined together to help fund the construction of rural fire house in the state. The commissioner is seeking to improve the rural fire department quality as a whole. Causey has taken on the project to help the state’s rural fire departments to return to better health. Blue Cross Blue Shield of NC joined him in helping to finance the effort, and he has…

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Cosmetic surgery insurance claims way down as millions of procedures postponed

Cosmetic surgery insurance - Surgeons operating

Elective procedures have been delayed by weeks, months, or longer due to the pandemic. Cosmetic surgery insurance claims have ground to a virtual halt as elective surgeries face massive postponement waits due to the pandemic crisis. Hospitals are battling with months of backlog for surgeries to meet medical requirements. Around the world, hospitals and clinics have had to cut back on the number of routine procedures they are able to perform in order to maintain patient and staff safety, said a report in the Economist. This measure was also taken…

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Nationwide plans to keep remote insurance jobs permanently in 5 states

Remote insurance jobs - laptop on desk

The insurer has made it possible for many employees to work from home even after offices fully open. Nationwide has announced its intention to permanently transition into an operating model that functions as a hybrid between in-office and remote insurance jobs. The employees who will be heading to the office will be those at the four main corporate campuses. The insurer will keep the in-office workers primarily at its four main corporate campuses. That said, it will keep its remote insurance jobs in place for the majority of other locations.…

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