Earthquake insurance and preparedness low in Israel, despite risk

Earthquake Insurance - Earthquake aftermath - disaster - house collapse

The region typically experiences large quakes every 80 to 100 years and is now coming due. In Israel, preparedness and earthquake insurance to protect against a major quake remains too low. The State Comptroller, Yosef Shapira has now issued a warning to the country that preparedness is entirely inadequate. This is a serious problem as the country is now considered to be due for a major earthquake. Earthquake insurance coverage is only one of many steps residents and businesses could take to protect themselves. Over the last week or so,…

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Iran insurance processing may soon be blocked on Lloyd’s IT platform

Iran Insurance processing could be blocked - brick wall

Sanctions from the United States will likely get in the way of using the platform for this purpose. New U.S. sanctions will likely make it impossible to purchase any form of Iran insurance using a Lloyd’s of London platform. This will only worsen struggles for European insurers that have been providing Iranian coverage. The sanctions are being re-applied by the United states after it backed out of the nuclear deal. President Trump walked out on the Iran nuclear deal in May. The remainder of the world powers that originally joined…

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Louisiana workers compensation sees few claims but high costs

Louisiana workers compensation - Worker - Construction

Employees in the state are less likely to be injured than in any other place across the country. The Louisiana workers compensation program functions in a curious way. Despite the fact that employees in the state are less likely to be injured than those in any other state, the coverage still comes with high costs. The costs of workers compensation insurance in the state have been steadily falling for years. Comparing the cost of Louisiana workers compensation clearly shows that the actual costs are dropping. In fact, this has been…

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Charges laid in massive health insurance scam worth $1M in fraud

Health insurance scam - Scam alert

A Florida man has been charged with impersonating a New Jersey doctor to make falsified claims. A Florida man is now facing charges in a massive health insurance scam. To swindle his insurance company out of about a million dollars, he allegedly assumed the identity of a doctor in New Jersey. The man proceeded to file a number of fraudulent claims against his medical plan. By using the New Jersey doctor’s identity, the man allegedly submitted over $1 million in fake insurance claims. The health insurance scam involved services that…

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5 Life Insurance Policies You Should Consider (That Aren’t Term)

Life Insurance

Looking for life insurance? Purchasing a life insurance plan is one of the best ways to secure your family’s well being, providing you with peace of mind along the way. There’s no shortage of plans promising low premiums and strong benefits, but knowing what all options are out there and which to choose can be challenging. Read on as I unpack 5 life insurance policies that aren’t term, and see if one of them might be suitable for you. #1 Whole Life Policy Here’s the gist of a whole life…

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Thousands in Arkansas fear lost health insurance benefits under new rules

Health Insurance Benefits - Time For Change - chalkboard

Medicaid changes in Republican led states are often aligning with Trump’s efforts to dismantle Obamacare. One state at a time, health insurance benefits are changing for those reliant on Medicaid and whose governors are Republican. As the GOP works to take Obamacare apart, many states now have stricter Medicaid regulations. Arkansas has become the first state to push the new health insurance benefits rule. It will require state residents to have to provide proof of their employment or volunteer status in order to keep their Medicaid coverage. As the law…

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Kansas insurance company claim paid out after child knocks over $132,000 statue

Kansas City Insurance - YouTube Screencap of kids before knocking over statue

The child’s parents were required to pay for the broken artwork, but their insurer paid most. The Kansas insurance company has covered the parents of a boy who knocked over a statue worth $132,000. The video of the boy toppling the artwork went viral shortly after the incident happened. The video was used as evidence against the boy and the parents were required to cover the cost of the broken artwork. That said, their Kansas insurance company came through with a payment of $107,000 for the damage caused by the…

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Swiss Re insurance stops covering coal-dependent companies

Swiss Re insurance - Coal Station

The massive insurer is a part of a growing movement finding that fossil fuels are becoming a liability. The Swiss Re insurance giant has implemented a new policy against covering firms highly reliant on coal. As the world works to eliminate coal power, firms are finding that the move is as good for their bottom line as it is for the environment. The insurance industry is starting to see many fossil fuels as a type of reliance too risky to cover. The new Swiss Re insurance coverage policy will refuse…

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Are you ready to make an insurance claim with voice-calling AI?

Voice-calling AI - Woman and Robot

Google’s artificial intelligence is moving in as a replacement for low-skilled human labor jobs. Google’s surprisingly natural voice-calling AI may soon be headed to insurance call centers. A report by The Information was picked up and investigated by Engadget. The report showed that an insurance company in the United States has shown interest in Google’s AI tech. The insurance company was not named in either report, but it has expressed interest in AI. The Duplex voice-calling AI from Google would be able to “handle simple and repetitive customer calls” said…

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Insurance drone use spikes as hurricane season gets rolling

Insurance Drone Use - Drone

With each new season of potential natural disasters comes a much larger investment in this tech. Insurance drone use has been taking off – so to speak – with each new hurricane season. This year has been no exception. Every year, the tech proves itself in terms of improved safety for claims adjusters while simultaneously lowering costs. Insurance companies need to carefully plan their reactions to natural disasters for speed and reliability. When a hurricane happens, insurance companies need to move quickly. This requires substantial planning as well as tech…

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