Kanye West insurance lawsuit worth $10 million following tour cancellation

kanye west insurance

The performer filed the suit against a number of Lloyd’s of London syndicates, alleging lack of payment. The Kanye West insurance lawsuit has hit the news headlines as the celebrity claims his insurers aren’t paying his due amount following the cancellation of his performance tour. The entertainer suddenly halted a number of performance dates on his Saint Pablo Tour. Officially, the Kanye West insurance claims were filed through the performer’s Very Good Touring, Inc. company. He now alleges that the insurance companies have failed to pay out on the claims…

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Wells Fargo insurance scheme brings lawsuit from customers

lawsuit Usher’s insurance broker company

Borrowers forcibly made to purchase auto coverage they didn’t need are suing the bank for scamming them. Wells Fargo & Co has been accused of running an insurance scheme, as was reported yesterday by Live Insurance News, and now affected customers are filing a lawsuit against the bank. Customers allege the bank forced them to pay for auto insurance they didn’t need and that caused financial hardship. In yesterday’s article, it was pointed out that the insurance scheme caused many customers to face expenses they couldn’t afford. This led several…

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Wells Fargo auto insurance forced on borrowers who didn’t need it

Wells Fargo insurance scandal

The bank charged customers for unnecessary coverage, leading to 25,000 wrongful vehicle repossessions. A new report determined Wells Fargo auto insurance was forcibly sold to customers who did not require this coverage. As a result of the bank’s activity, there were approximately 25,000 wrongful vehicle repossessions. Over 800,000 people who took out Wells Fargo car loans were charged for unnecessary insurance. The added expense of the unnecessary Wells Fargo auto insurance was too much for some borrowers, whose vehicles were wrongfully repossessed. The report showed that among 800,000 of the…

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Michigan insurance industry is having a hard time filling job postings

Michigan insurance industry jobs application form

Insurers in the state are continuing to open positions in their companies, but workers aren’t there to fill them. The Michigan insurance industry is all set to open up a range of new jobs over the next few years. However, it is already facing a considerable challenge in their effort to fill the positions as insurance companies compete to attract talent. This was among the primary findings in a study conducted by Ferris State University researchers. The university’s insurance, actuarial and risk management student team surveyed companies in the Michigan…

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Aetna insurance moving headquarters out of Hartford after 164 years there

New York City Aetna Insurance

The coverage giant has been in Connecticut for over a century and a half and is now moving to New York City. After 164 years in Connecticut, Aetna Insurance is now moving its headquarters out of Connecticut and into New York City. The company had announced its intentions to relocate to NYC earlier this year and has faced intense lobbying from Connecticut officials against its decision. This comes as a hard hit to Hartford, which has already been struggling with considerable financial issues. On the side of Aetna Insurance, it…

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Allstate employs cloud insurance technology to grow new businesses

cloud insurance technology

The insurer may be in its 80s, but it is keeping up with the latest tech and changes in the industry. Allstate first opened in 1931, but the cloud insurance technology it’s now using shows that it has no interest in aging. The insurer is branching into new areas to be able to build and grow new business as its environment changes around it. Over the last few years, Allstate Insurance launched its CompoZed unit to boost software services development. This use of cloud insurance technology gives Allstate the ability…

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Smart contract insurance partnership launches between AIG and IBM

IBM Supercomputer - smart contract insurance

The insurer and tech giant will use blockchain for managing complex forms of international coverage. American International Group (AIG) and International Business Machines (IBM) are partnering to create a form of smart contract insurance policy. This coverage will employ blockchain for the management of highly complex forms of international insurance protection. The two companies recently completed the smart contract coverage policy pilot project. The smart contract insurance multi-national policy pilot provided Standard Chartered Bank PLC with coverage. The pilot used blockchain’s digital leader technology for what IBM and AIG called…

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Berkshire-owned workers compensation insurance scam case reaches settlement

workers compensation insurance

Applied Underwriters, a Berkshire Hathaway owned firm, was ordered to cease bait-and-switch marketing. Applied Underwriters, an insurer owned by Warren Buffett’s Berkshire Hathaway, has agreed to a workers compensation insurance case settlement. The agreement involves providing Californian consumers with full disclosure about the product. The insurance company’s goal is to start selling plans again following a state review of alleged abuses. A major component of the settlement requires Applied Underwriters “to stop the bait-and-switch marketing tactics.” Many employers registered complaints from having been sold workers compensation insurance through bait-and-switch tactics.…

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Companies use pet insurance benefits to draw talent

kitten veterinarian pet insurance benefits

Now that cats and dogs are just furry family members, affordable animal health care has become a priority. A recent report in the New York Times showed that pet insurance benefits are becoming a staple offering for drawing skilled employees and encouraging them to stay. While pet insurance is already a growing trend in the United States, employer-sponsored benefits are also taking off. In fact, employer sponsored pet insurance benefits is among the most rapidly growing veterinary medicine trends. These include plans that cover only cats and dogs as well…

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Climate change may have a higher economic impact than previously believed

climate change city smog urban heat island effect

The damage rising global temperatures is causing may become much more expensive than predicted. A recently published report has placed the spotlight on the “urban heat island” effect of climate change. This effect was detailed in the Nature Climate Change journal, revealing that urban centers will see a considerably greater expense from global warming. The report was based on an analysis of 1,692 cities around the world and the impact changing temperatures will have. The analysis determined that the economic impact of climate change may be 2.6 times greater than…

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