Insurance company Brexit takes Liberty Specialty Markets out of London

Insurance company brexit strategy

The specialty insurer announced the city that will become its new home after the U.K. splits from the E.U. The insurance company Brexit strategy announcements have begun, and among the latest is the new Liberty Specialty Markets headquarters. The specialty insurance company has been seeking a new home following the British exit from the European Union and recently made its decision. The company announced that it will be remaining in London for now but will leave as Brexit occurs. The insurance company Brexit move has launched an effort to move…

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Search and rescue insurance launches in Utah for outdoors enthusiasts

hiking utah search and rescue insurance

Recreationists residing in the state can pay a small fee to waive potential costs if a hike goes wrong. Utah officials announced the launch of a new search and rescue insurance product available to nature enthusiasts and campers. The fee is extremely affordable and would mean that policyholders wouldn’t need to pay expensive costs for search and rescue if a hike or camping adventure goes awry. The annual premium for this S and R insurance policy will be a highly affordable $25 for anyone who wants it. That said, entire…

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NRA gun insurance launches for owners shooting in self defense

NRA gun insurance policy

The new policies are designed to cover legal fees for acquitted cases and clean-up costs as well. The National Rifle Association has announced a new NRA gun insurance policy to cover Americans who want coverage in case they shoot in self defense. The policies will cover the clean-up of the scene. That said, legal fee reimbursement is issued only if the case finishes with an acquittal for a ruling. This NRA gun insurance policy is only the latest in the association’s efforts to ensure the rights of people who want…

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Why New York crop insurance should matter to craft beer enthusiasts

New York crop insurance craft beer barley

The state’s industry risks running out of one of its key locally grown ingredients if farmers can’t find coverage. The average person likely doesn’t have much interest in New York crop insurance, believing it to be the business of farmers and politicians. However, a recent development has brought the issue closer to home in a very visible way. Malt barley crops are seen as a risky type of crop for local farmers who hesitate to grow it without coverage. Farmers are reluctant to grow the malt barley crops because of…

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Flood insurance premiums rise and will likely continue rising

flood insurance premiums storm news

Homeowners seeking to purchase coverage against overland flooding will be paying more as of this month. Changes that took effect on April 1 are sending flood insurance premiums skyward. This applies to homeowners who already have coverage against flooding as well as those who are buying it for the first time. National Flood Insurance Program rates rose by an average of approximately 6 percent this month. As a result, the average annual flood insurance premiums are now around $878. This doesn’t include a number of different types of surcharge which…

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Lloyd’s of London EU subsidiary will be in Brussels

Insurance company brexit strategy

As Great Britain triggered Article 50 in order to formally begin Brexit, the massive insurance marketplace plans ahead. The largest specialty insurance market in the world, Lloyd’s of London, has selected Brussels as its intended European Union subsidiary. The decision was made on the eve of the day British Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty with the E.U. This has launched Great Britain’s official intention to leave the E.U. The insurance market made this decision in order to ensure a subsidiary will be in place…

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Private crop insurance companies see shrinking returns

private Crop Insurance

These insurers have experienced a notable drop in their returns since the SRA was renegotiated in 2010. Private crop insurance companies are experiencing a notable downward trend in their return figures. This has been a consistent situation since the Standard Reinsurance Agreement (SRA) was renegotiated in 2010. The SRA renegotiation between insurers and the federal government marked a significant change in the direction of that business. The change in returns have also aligned smoothly with the Risk Management Agency’s benchmarks. The U.S. Department of Agriculture’s Risk Management Agency laid out…

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SpaceX pre-launch liability insurance massively increased following FAA requirement

spacex falcon 9 pre-launch liability insurance

A new mandate was put into place which increased the minimum coverage requirement by five times. SpaceX changed its launch schedule to today at 1:35am but was required to carry far more pre-launch liability insurance than it previously held. The launch had been postponed as a result of high winds at Cape Canveral. SpaceX will webcast the launch so it can be viewed live. The original launch had been scheduled for March 14, but the delay was considered necessary. This particular mission was created to add the Echo Star XXIII…

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Engagement ring insurance spikes with Valentine’s Day proposals

engagement ring insurance

It may not seem romantic, but many consumers are choosing to purchase coverage for this sizeable investment. As people across the country get ready to pop the question on Valentine’s Day, they are also purchasing engagement ring insurance coverage. These policies are meant to provide protection against the unexpected. After all, this piece of jewelry is considerably more expensive than a box of chocolates or a bouquet of roses. It’s clear that a growing number of people are hanging onto their financial sense even in romantic moments. Before people get…

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California landslides cause millions in damage to celebrity homes

California mudslide landslide insurance

Demi Lovato’s new Los Angeles house was rendered unfit for occupancy before she ever moved in. California landslides have been wreaking havoc for homeowners, including certain top celebs. The massive downpours have been desperately needed by the state. Droughts and wildfires have plagued Californians. That said, as the dry land is quenched some areas have become unstable. The pop singer had yet to move into her new $8.3 million home when it was struck by a mudslide. Twenty four year old Levato’s home is in the Laurel Canyon neighborhood. Before…

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