Oil insurance rates “increased 10-fold” since Strait of Hormuz tanker attacks

Oil insurance rates - Oil Tanker

The attacks on oil tankers and U.S. spy drones since may have been driving the risk – and cost- skyward. Oil insurance rates to cover tankers transporting crude around the world have been rising sharply over the last couple of months. A US listed shipping company’s CEO pointed out that the recent attacks have spiked premiums. Since May, a U.S. spy drone and six oil tankers have been attacked near or within the Strait of Hormuz. That waterway is a strategic transport route that connects Iran, Oman and the United…

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Nevada earthquake insurance is rare despite state’s risk level

Nevada Earthquake Insurance - Earthquake Damage to Home

Seismic activity levels in the state would justify purchasing coverage, but most homeowners don’t. Nevada earthquake insurance has been placed in the spotlight following the tremors in California last week. Those quakes were felt in Las Vegas on Thursday and Friday. They are a reminder that the state is also affected by the seismic activity in the region. Still, despite the activity in the area and the risk of damage, coverage isn’t a common purchase. Following the quakes last week, it became clear to many home and business owners that…

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Pennsylvania health care to become state-run, leaving Healthcare.gov

Pennsylvania health care - Pennsylvania state seal & doctor

State officials recently shared their intention to transition away from the federal insurance exchange. State leaders recently announced that the Pennsylvania health care insurance exchange will be transitioning to a state-run marketplace. Currently, Pennsylvanians use the federal exchange at healthcare.gov to purchase their health plans. The new Pennsylvania health care changes are meant to help state residents to save more money while improving the affordability of individual and family plans. Until now, the healthcare.gov website has served state residents. Pennsylvania Governor Tom Wolf signed legislation earlier this week, laying the…

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Allstate’s “Mayhem”, Dean Winters, died for 5 minutes a decade ago

Dean Winters - Allstate Mayhem commercial - YouTube

The actor suffered from an infection that left him dead for minutes before doctors revived him. Dean Winters, the man who played “Mayhem” for Allstate Insurance, revealed that he was dead for 5 minutes in 2009. The actor played the insurer’s chaotic walking whirlwind and has had personal experience with real-life disaster. The actor recently revealed in an interview that an infection killed him for almost five minutes. “I had a rough ride in an ambulance. I went septic due to an illness that I had as a kid and…

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Gerber moves forward with Virtual Assist technology for efficiency improvements

Virtual Assist - Car Crash - Vehicle Damage

The new tech tool will provide vehicle appraisal improvements for enhanced customer service. Gerber Collision & Glass has revealed that it is adding Virtual Assist to improve its efficiencies. This software is meant to make the process smoother for customers during vehicle damage appraisals. The company announced its decision this week at Austin’s DigIn Future of Insurance conference. Gerber’s announcement revealed the company’s collaboration software for improving internal efficiencies. It tested the Virtual Assist software ahead of its decision to license it throughout its organization. This tech is licensed by…

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Insurance giants Allstate and State Farm file fraudulent billing suits against healthcare providers

Insurance Giants - Medical Room

The two carriers have each filed separate lawsuits against medical doctors and their clinics. Two U.S. insurance giants have each filed a lawsuit against medical doctors as well as the pain management clinics of those healthcare providers. The doctors and clinics have been accused of submitting bills to the insurers for unnecessary medical procedures conducted on victims of vehicle crashes. The lawsuits are against both the clinics and the doctors who own them and provide healthcare there. One of the two insurance giants, Allstate Insurance, filed a lawsuit in the…

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Hurricane Preparedness Week encourages homeowners to check their insurance

Hurricane Preparedness Week - big waves from hurricane

The industry is reminding property owners to review their coverage and update if necessary. The insurance industry used this week, Hurricane Preparedness Week, to remind homeowners that storm season is on its way. This makes the week the perfect opportunity to go over insurance policies and make changes to prepare properties for what could potentially be an active year. The insurance industry has released lists of helpful instructions to keep customers properly covered. Hurricane Preparedness Week arrives just before the official season begins. That way, homeowners have time to look…

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