Uber liabilities means the rideshare company “depends heavily” on insurance coverage

Uber liabilities - Uber app

The firm is on its way to its initial public offering and would not have reached this place without policies. Uber liabilities are widespread due to the very nature and size of the company. As it comes closer to its initial public offering (I.P.O.), many are recognizing that insurance coverage was integral to its success. The rideshare company is seeking to raise $10 billion along the way to its initial public offering. Uber Technologies Inc. openly acknowledges that it wouldn’t have been possible for it to reach this point without…

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Why it Pays to Insure Your Gold Assets

Gold Assets

From tangible cash to properties, valuable assets must be insured against disasters and catastrophes. As with any other valuable property, it is no surprise that people also insure their gold assets. Adhil Shetty of Yahoo! Finance writes that various insurance plans offer peace of mind when it comes to securing the metal, with plans covering theft and even accidental loss. Coverage increases in scope according to the plan that you pay for, with Shetty reminding gold owners that it is important to hold on to all relevant documents should the…

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Marijuana insurance market is still an area of hesitation for insurers

Marijuana insurance market - cannabis plant

Some insurance providers remain cautious to enter the cannabis insurance market. The marijuana insurance market is growing quickly, but insurers themselves remain cautious. States are increasingly legalizing cannabis products, but there are risks involve that may keep some providers from taking part, said a new A.M. Best report. There are many barriers and risks making insurance companies hesitant to enter the market. Among the leading barriers to entry into the marijuana insurance market is the federal government. The reason is that while individual states are commonly legalizing the drug, the…

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Berkshire Hathaway Insurance Group braces for Brexit with new Dublin unit

Berkshire Hathaway Insurance Group - Brexit - UK and EU flags

The insurer has received approval for the new unit to service clients in Ireland and across the E.U. Berkshire Hathaway Insurance Group Inc. announced that it has received the Central Bank of Ireland’s approval to establish a Dublin unit. The goal is to be prepared for any form of Brexit, to be able to service clients in Ireland as well as throughout the European Union. The new Berkshire Hathaway European Insurance will act separately while remaining fully owned. According to the Berkshire Hathaway Insurance Group, the new unit will be…

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New crypto insurance products find area of need amid regulator uncertainty

Crypto insurance - Blockchain - Cryptocurrency - Bitcoin

Coverage against rising cryptocurrency theft is needed, but regulators aren’t certain how to manage it. A rising crypto insurance industry has insurers moving quickly to create models and products to offer. At the same time, regulators are left uncertain as to how to handle this very new form of coverage. In 2018, hackers stole $1.7 billion in cryptocurrency in a quickly increasing digital coin theft trend. Cryptocurrency thieves are becoming increasingly successful. With the massive theft rate, the technology is facing considerable harm to its reputation and further barriers to…

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Ethisphere Institute names Allstate as one of the 2019 World’s Most Ethical Companies

World’s Most Ethical Companies - Ethics - Business

This is the fifth time the insurer has been honored with this coveted title by the ethics standards firm. Ethisphere Institute has recognized Allstate as one of the 2019 World’s Most Ethical Companies for the fifth time. The firm is a global leader in the definition and advancement of ethical business practice standards. Allstate is one of seven companies to have received the title from Ethisphere for 2019. The insurer has been named as one of the World’s Most Ethical companies for five consecutive years. The designation underscores the insurance…

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PG&E admits its equipment was the “probable” Camp Fire cause

Camp Fire Cause - California Camp Fire

The largest Californian wildfire in history was likely the result of the bankrupt utility’s equipment. Bankrupt Californian utility company, PG&E, said in its earnings statement that its equipment was the “probable” Camp Fire cause. That same statement reported the highest losses the company had ever recorded. PG&E’s statement said that investigators will likely find its equipment was the fire’s ignition point. As the Camp Fire cause, this would make PG&E’s equipment responsible for the largest wildfire in Californian history. The blaze ripped through Northern California for half of November 2018,…

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