Homeowners insurance sector rallies to Oklahoma

Oklahoma tornado homeowners insurance

Homeowners insurance faces another powerful blow from natural disasters Oklahoma City, Oklahoma, fell victim to a powerful tornado earlier this week. The tornado had been classified as an EF4 at the time it reached the city on May 20. The tornado boasted of more than 200 mile per hour winds and cut a path of destruction through the city and its surrounding area, claiming the lives of 24 people. State officials are now declaring the event an official disaster, which may be of some benefit to the homeowners insurance sector…

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Life insurance had been sought by AEG to cover Michael Jackson

Michael Jackson insurance news

Executives from the company had been attempting to purchase a policy only days before the singer died. Testimony and emails that were presented in court, this week, revealed that within a span of only days before the death of Michael Jackson, executives from AEG had still been working to try to obtain a life insurance policy to cover the celebrity who seemed increasingly erratic at his comeback tour rehearsals. The company became concerned that Jackson’s behaviors could cause him to get hurt. One of the emails shown to the court…

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Homeowners insurance bill in Florida is moving up

homeowners insurance bill

The North Carolina proposal is only one of a large number facing the General Assembly. A bill regarding homeowners insurance is one of a large number being considered by the General Assembly in North Carolina, following a slew of others last week, including outdoor smoking bans, clean water issues, and autistic child coverage. This is because the General Assembly was trying to fit everything in before today’s non-revenue bill deadline. The bills – including the one for homeowners insurance – were required to pass their originating chamber by this date…

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Terror insurance coverage concerns felt by New York property owners

Terrorism Risk Insurance industry

The commercial real estate market in NYC is concerned about the upcoming expiry of the TRIA. New York City’s commercial real estate market is now facing worries about a threat that could shake its stability, when federal terror insurance reaches its expiry date in 2014. The Terrorism Risk Insurance Act was enacted in 2002 and uses taxpayer dollars to cover these disasters. The act was put into place the year following 9/11 and uses American taxpayer funds to provide protection for private insurers so that they can offer terror insurance…

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Insurance industry in the US continues drawing attention to cyber insurance

Cyber Insurance industry popularity

Insurance industry well attuned to digital risks The Internet has become an all-encompassing resource for information and community for most of the world. Today, the Internet supports a multitude of businesses, many of which rely on the digital world to reach out to consumers and sell products around the world. While the Internet is often considered one of the greatest accomplishments in human history to date, it is not a utopia. Within the Internet are many threats that businesses, consumers, and governments have yet to become acclimated to. The cyber…

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