Allstate reminds consumers of the importance of identity protection during the holidays

Identity Protection - Theft

Scammers are taking aim at consumers shopping at this time of year, as well as at student loan borrowers. At this time of year, identity protection products can be particularly helpful to consumers, said a recent news release from Allstate, cautioning consumers about criminals targeting holiday shoppers and federal student loan borrowers. About a tenth of Americans have been victims of scams having to do with federal student debt forgiveness. About two in five of the student loan scam victims are contacted a minimum of once per week, according to…

Read More

State Farm will power Illinois corporate facilities with renewable energy

State Farm - Renewable Energy

The insurer has signed an agreement with Constellation to purchase the green electricity. Insurance company State Farm recently announced that they have signed a new agreement with one of the leading power and natural gas suppliers in the United States, Constellation, to power the Illinois corporate facilities with renewable energy. The energy strategy is a component of the insurance company’s broader decarbonization effort. State Farm has been making a number of environmental impact commitments lately, and this renewable energy agreement is among the latest steps it has taken. The agreement…

Read More

Spott launches new pay-as-you-sell ecommerce insurance model

Ecommerce insurance - Online shopping

The insurer has rolled out a novel premium calculating for online businesses to pay based on what they sell. Ecommerce insurance company Spott has announced the launch of a new Pay-As-You-Sell liability insurance model. The coverage lets digital businesses pay premiums based specifically on how much they sell. The design of this ecommerce insurance is such that an online company will pay liability coverage premiums based on how much they sell and will never have to pay higher than their original premium amount. As a result of this pricing model…

Read More

2023 Global Insurance Symposium to Focus on ‘Thriving in a Changing World’

Downtown Des Moines Insurance news

April 18-20 event to feature new tech, industry leaders & networking Des Moines, Iowa, November 14, 2022: The Global Insurance Symposium (GIS) announced its 2023 conference will be held on April 18-20 at the Community Choice Credit Union Convention Center in Downtown Des Moines. This event draws insurance leaders from around the world for three days of keynotes and panel discussions led by preeminent executives and dignitaries on pressing issues facing the industry, interactive demonstrations of new technologies and opportunities for attendees to help shape the future of insurance. Presented…

Read More

Swiss Re seeks creation of cyber insurance linked securities marketplace

Cyber insurance - Protection Security

The global reinsurance giant has stated that the industry needs a new approach to underwriting cyber risk. Swiss Re has issued a call to the industry saying that a new approach is required to underwrite cyber risk while repeating is recommendation for the development for a cyber insurance linked securities (ILS) marketplace. The reinsurance company released a new Institute report including its insights and suggestions. The reinsurer stated in a new Institute report that the cyber risk model is still in its early days and that it has become evident…

Read More

State Farm insurance company sues Amazon over patent infringement

Insurance company - Patent Infringement

According to the insurer, the online marketplace willfully infringed on patented tech. The State Farm insurance company has filed a lawsuit against Amazon, accusing the ecommerce giant of having “willfully infringed” on State Farm patented technology at the core of Elder Care Technology in order to offer a competing product. The insurer filed the lawsuit against Amazon and affiliated companies for patent infringement. The insurance company’s lawsuit has to do with the tech innovations incorporated into the Sundial product. This represents the first time the insurer has ever filed a…

Read More