Active shooter insurance increasingly popular among schools

Active Shooter Insurance - Gun and Bullets

As the number of shootings in schools rises, interest in coverage is growing as well. Active shooter insurance has found itself in the spotlight as schools become increasingly interested in the coverage. For instance, since the February 14 Florida high school shooting, seven South Florida school districts have purchased these insurance policies. The active shooter coverage is a relatively recent product for many agencies. The primary market for active shooter insurance has traditionally been event halls, office buildings and other places where large numbers of people come together. This type…

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Insurance fraud fighting gets a boost in North Carolina

Insurance Fraud - North Carolina Boosts number of Insurance Fraud Agents

The state’s Insurance Department has added 15 agents to its team of scam hunters. The North Carolina Department of Insurance has announced the expansion of its insurance fraud investigation team. Fifteen new special agents will take part in criminal investigations. North Carolina Insurance Commissioner Mike Causey made the announcement. The additional insurance fraud investigating team members have doubled the previous size of the department, said Causey. The N.C. Insurance Commissioner has implemented a new strategy for eliminating scams and fraudulent activities involving insurance in North Carolina. The expansion of the…

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Uninsured driver rate rises across the United States

Uninsured driver rate on the rise - graph

The number of motorists without auto insurance is increasing, particularly in five states. Almost one in every eight Americans on the road are a part of the current uninsured driver rate, said a new study. This trend is placing insured drivers at an increased financial risk in the case of a collision, said the research. The research was based on the latest information available regarding auto insurance coverage. The Hanover Insurance Group co-sponsored the research. The Insurance Research Council (IRC) directed the study. Thirteen percent of all American motorists were…

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Wells Fargo sanctions on their way for auto insurance scandal

Wells Fargo Sanctions - Auto Insurance Scandal

American regulators are getting ready to apply penalties to the financial giant for its illegal actions. U.S. regulators are preparing to apply the Wells Fargo sanctions the industry has known would be coming. The bank forced over half a million drivers to pay for auto insurance they didn’t need. The official repercussions are now arriving. The financial industry has been waiting to see how this Wells Fargo scandal would play out. The Wells Fargo sanctions are not a surprise to anyone. After the scandal came out, it was only a…

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AI technology investments increasingly commonplace among large insurance brokers

AI Technology - Insurance Brokers - Commerical Insurance - Tech Image

Big commercial brokers are seeking to stand out from their rivals through high tech enhancements. AI technology has considerable appeal to large commercial insurance brokers. After all, these firms transact with multiple distributors and carriers and want to stand out. The marketplace is competitive and artificial intelligence, among other cutting edge tech, may make a difference. Other areas where brokers are differentiating themselves include workflow tools and analytics. This was among the findings in a new Business and Technology Trends: Large Commercial Brokers report. Novarica issued the report. It offers…

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Women hold only one in five top insurance industry jobs

Top insurance industry jobs - Women in Business

A recent UK study showed that despite an overall industry gender balance, top jobs belong mainly to men. Of every five top insurance industry jobs four are filled by men and only one is filled by a woman. This, according to a recent study in the United Kingdom. This reveals a gender imbalance within this industry that was not entirely obvious to spot. The reason is that when looking at the employment data across the entire insurance industry, women and men fill nearly the same total number of jobs. However,…

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Average 2017 travel insurance policy covered far cheaper trips

travel insurance policy suitcase vacation

A recent Generali Global Assistance study showed travelers spent 19 percent less on covered trips. Among travelers who purchased a travel insurance policy last year, coverage was being applied to trips that cost an average of 19 percent less than they had the year before. The data was published by Generali Global Assistance, through its Travel Insurance division. The travel insurance analysis used the insurer’s proprietary data throughout the 2017 season. Throughout 2017, the average cost of a trip covered by a travel insurance policy was $1,883. This represented a…

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Gun owners insurance policies thin out following Florida shootings

gun owners insurance

MetLife and Chubb have severed their ties with the National Rifle Association. The Florida shootings may make it more challenging to purchase gun owners insurance. Both Metlife and Chubb have made decisions to sever their relationships with the National Rifle Association. Chubb announced it would no longer underwrite National Rifle Association branded insurance policies. The company stated that its gun owners insurance underwriting would cease under the NRA’s brand. That coverage is designed to assist gun owners in paying their legal costs should their firearms be used in self defense.…

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Insurance industry hiring evens out, though some positions remain unfilled

insurance industry hiring company jobs

A new study showed that insurer job availability will continue to be substantial and steady for the next year. Insurance industry hiring is stabilizing as over half of all insurers intend to boost the size of their staff over the next year. The Jacobson Group and Ward Group released their Semi-Annual U.S. Insurance Labor Outlook Study results. Fifty eight percent of insurance companies will be hiring more people in 2018, said the study. The insurance industry hiring trend is greatly supported by a predicted boost in business as well as…

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The Wells Fargo scandal continues to bite with 38,000 erroneous letters mailed

wells fargo scandal letter

The auto insurance scam involved selling unnecessary coverage and now includes sending letters containing mistakes. The Wells Fargo scandal that rocked the financial services company in the second half of last year just became more unpleasant. As the bank attempts to recover from the latest damage to its reputation in which auto loan customers were sold insurance policies they didn’t need, they’ve now made another mistake they didn’t need. The bank accidentally sent out letters about the auto insurance scam containing erroneous information. The Wells Fargo scandal involved requiring car…

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