Live Insurance News

Motorcycle Awareness Month reminds riders to ride safely

May 18, 2023May 17, 2023 Nordstrom

Motorcycle Awareness Month - Person going through test

May is an important time for riders to remind themselves of their safety habits as the warm weather begins. Motorcycle Awareness Month is more than halfway through, and it is offering riders a reminder that riding safe and smart are the best ways to enjoy their time on the road. Education and awareness are the top tools for making sure riders are keeping safe on the road. For Motorcycle Awareness Month, Delaware Governor John Carney and the state’s Division of Motor Vehicles (DMV) have teamed up with the state Office…

FEMA flood insurance rate update released by ZIP code and county

May 11, 2023May 10, 2023 Nordstrom

The Federal Emergency Management Agency has unveiled its price increase updates. The Federal Emergency Management Agency’s (FEMA) Risk Rating 2.0 flood insurance calculation method caused an uproar among advocates and critics who said that homeowners were destined to send prices skyrocketing for thousands of property owners. Homeowners in low-elevation coastal locations would be particularly affected, said critics. FEMA has now released data that reveals where prices will be increasing and decreasing, based on county and ZIP codes. The Miami Herald conducted an analysis of the new data and determined that…

Florida insurance adjustors alleging fraud in Hurricane Ian payments

May 4, 2023May 3, 2023 Nordstrom

Independent licensed professionals are providing evidence of fraud among certain insurers. Independent licensed insurance adjustors in Florida have been providing state regulators with evidence of alleged fraud relating to payouts made following Hurricane Ian. Hurricane Ian was the third most costly storm in the United States and the most expensive ever for Florida. The storm caused about $109 billion in damage in Florida. Field insurance adjustors are providing evidence to state regulators of allegedly fraudulent conduct by insurers which would affect thousands of homeowners in central and south Florida. Some…

European Union aims to close climate change damage insurance gap

April 27, 2023April 26, 2023 Nordstrom

Insurance gap - EU flag and Climate Change

Only about a quarter of catastrophe losses suffered in the European Union are insured. The European Central Bank (ECB) and European Union insurance regulators announced this week that it was working to better close the insurance gap to provide improved coverage from climate change by setting up public-private partnerships and issuing “catastrophe bonds”. The current uninsured catastrophe losses are creating risks to the EU economy and financial stability. As only about one quarter of catastrophe losses related to climate change in the European Union are insured, the insurance gap is…

Britain launches deposit insurance program review to boost confidence in banks

April 20, 2023April 19, 2023 Nordstrom

The Bank of England is looking into whether “improvements” need to be made to the program. The Bank of England (BoE) has stated that it is currently considering making “improvements” to the deposit insurance program that currently protects depositors who are customers of smaller banks. The coverage allows depositors at smaller banks to recover the money in their accounts if those banks fail. The country’s central bank has not yet released any details regarding what part of the deposit insurance program it is examining or what it is considering changing.…

Horse insurance sales rise with cost of veterinary care

April 13, 2023April 12, 2023 Nordstrom

As medical services become increasingly expensive, especially for emergency calls, coverage is appealing. Over the last few years, pretty much everything has become considerably more expensive, and this includes the cost of veterinary care for horses, resulting in a growing interest in horse insurance coverage. Medical coverage for the animals can help to keep emergency veterinary calls affordable. Owners are increasingly choosing to purchase horse insurance coverage for their animals in order to protect their investment and make sure that they don’t need to face a time when it would…

Unemployment insurance payments are slower than they were pre-pandemic

April 6, 2023April 4, 2023 Nordstrom

The difference varies from one state to the next, but overall, things are slower since COVID-19 hit. Not long aver the pandemic hit, the rate of joblessness in the United States spiked, sending millions of people to seek unemployment insurance benefits. The systems in every state were required to issue checks following a spike in claims handling. Because there was a sudden and sharp influx of unemployment insurance claims, the systems in place to manage them were not prepared for the numbers. This left people waiting for weeks – or…