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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Nevada car insurance premiums will rise for 1 in 3 drivers

Nevada Car Insurance - Premiums to rise

About 600,000 motorists across the state will be watching their rates rise in the near future. Around one in every three state residents will be affected by the Nevada car insurance rate hikes coming soon. About 600,000 drivers will see a considerable 9 percent spike to their auto policy premiums this summer. The state will be raising the minimum amount of bodily injury and property damage coverage. As a result, Nevada car insurance rates will also be rising in order to reflect the higher coverage. This will become effective as…

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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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Canadian car insurance company discovers “pervasive” scams in Toronto auto shops

Car insurance company - Scam Alert

An insurer north of the border has investigated a string of fraud cases regarding deliberately damaged cars. A Canadian car insurance company recently held an investigation into auto body shops within the country’s largest city. Aviva Canada determined that a tremendous number of auto repair businesses are involved in scamming the insurer. The insurer determined that auto body shop workers were billing for unnecessary work or work not done. The Aviva car insurance company determined that half of the total expenses it received for crashed vehicle repairs were fraudulent. The…

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California health insurance premiums may spike, analysis

California health insurance premiums - American and Californian flag

Covered California predicts a possible spike in rates residents are paying for policies. California health insurance premiums may sharply rise over the next few years. In fact, Covered California’s own analysis predicts a 35 percent increase by 2021. When compared to the current rates, Californian consumers may pay 35 percent more over three years. The state is among a total of 15 predicting average rate hikes of 35 percent by 2021 compared to their current rates. Across the United States, consumers purchasing coverage on an insurance exchange may pay more.…

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Idaho health insurance plans draw Trump administration warning

Idaho health insurance plans - Stop Sign on Road

The state has announced its intentions to allow certain medical policies that don’t comply with the ACA. The Trump administration has sent a written warning regarding Idaho health insurance plans. The state revealed its intentions to begin selling health policies that fail to meet the Affordable Care Act’s minimum requirements. The Trump administration said Idaho’s move “may not be substantially enforcing” the health care law. The letter was issued as a warning. Trump’s administration sent it to Idaho’s governor, Butch Otter (R). The letter was also sent to the Idaho…

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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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