Insurance exchange in Washington now offers policy auto-renewal feature

washington health insurance exchange

The state is now giving users of its Health Benefit Exchange marketplace the chance to automatically renew coverage. The Washington Health Benefit Exchange, the state’s insurance exchange is now giving people the opportunity to use its website in order to allow residents of the state to be able to automatically renew their health plans for 2015 without having to take additional steps. The marketplace is now sending out renewal letters to customers, as are many insurers. Starting this week the insurance exchange and individual providers have been sending out letters…

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Unemployment insurance program amps up fraud detection

unemployment wage insurance

The program will now be receiving assistance in being able to spot “suspicious patterns” among those claiming benefits. The struggling unemployment insurance program in California is now working with Pondera Solutions in order to be able to detect fraud more effectively and save the program – and tax payers – money. This new partnership is meant to help to boost the technology capabilities of the program. The unemployment insurance program in California is currently operating on an old computer system that was causing thousands of legitimate claims for benefits to…

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Cyber insurance is spiking in popularity among SMBs

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Smaller and medium sized businesses are discovering that data breach liability protection is vital. According to recent data that has been released by the Center for Strategic and International Studies, last year, alone, there were more than 3,000 businesses in the United States that experienced a data breach, and the increase in cyber insurance policies shows that companies have not all failed to learn the lesson from this threat. Among those businesses, many of them are small and medium sized firms with minimal protection. The rapid rise in cyber attacks…

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Insurance news shows that while burglaries are dropping, claims are rising

Burglar Alarm Discount homeowners insurance news

A recent report from an insurer has shown that break ins aren’t as common but they are more expensive. Over recent years, insurance news has been reporting that victims of burglaries are increasingly discovering that their homeowners policies are falling short of the amount that would be required to replace some of their valuable possessions, as thieves have started to focus on small and expensive items that are easy to sell instead of large and bulky items such as big screen TVs. While people focus on making sure that their…

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Huge rail insurance for oil shipment coverage now offered by AIG

rail insurance news industry train transportation

The insurer now has a product to cover train accidents for up to $1 billion to help meet the growing demand. Yet another train carrying oil has now derailed in Canada, this time near Wadena, Saskatchewan, last week, when it also caught fire, causing an ever rising number of questions to appear with regards to the types of rail insurance that will be necessary to protect companies and railways. In response to this need for coverage, AIG is now offering a $1 billion liability product for railways. With the rapidly…

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