Long-Term Care Insurance Companies Will Pay Out $100 Billion Over Next Decade Says AALTCI

Los Angeles, CA, July 12, 2018 –(PR.com)– Over the next decade, the nation's long-term care insurance companies will pay out over $100 billion in claim benefits projects the American Association for Long-Term Care Insurance (AALTCI). "Insurers this year will likely pay out $10 billion in claims and that number will grow each year as more individuals begin to claim benefits from their policies," explains Jesse Slome, director of AALTCI. "The $100 billion is money individuals will not have to spend on needed home care or assisted living or skilled nursing…

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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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Canadian life insurance companies no longer equate marijuana use to “smoking”

life insurance companies - Marijuana

Changes to the country’s laws and social attitudes have brought about change in industry policy. Life insurance companies in Canada have traditionally labeled cannabis users as being “smokers.” However, a recent change in the country’s industry has changed this situation among many insurers. Smokers are typically penalized by life insurance companies and, until recently, that included pot users. The Canadian Life and Health Insurance Association director of health and disability policy, Joan Weir, explained in a CBC report that many life insurance companies have stopped equating light marijuana use with…

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Allstate pay per mile insurance rolls out for New Jersey drivers

Pay per mile insurance - Speedometer - Miles

The Milewise program makes it possible for low-mileage drivers to pay based on their usage. New Jersey drivers now have a new pay per mile insurance policy available from Allstate. The auto insurance company has rolled out Milewise in the state. This insurance policy is designed to appeal to drivers who don’t go very far in their vehicles. The Allstate Milewise pay per mile insurance policy allows drivers to reduce their coverage expenses by driving less. The less these motorists use their vehicles, and the shorter the distances they travel,…

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4th of July accidents expected to spike again this year, says auto insurance industry

4th of July Accidents - Highway Car Crash

The Insurance Institute of Highway Safety cautions that summer driving is often deadly. The Insurance Institute of Highway Safety (IIHS) has cautioned drivers about the dangers of 4th of July accidents. In fact, its data shows there are more car crashes on Independence Day than any other day of the year. The IIHS has based this information on fatal crash data from the last five years. The largest contributors to 4th of July accidents are motorcycles and alcohol, says the IIHS. The institute’s five year study determined that every year…

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Four Master Agencies Mark Up to 35 Years with SIAA

Hampton, NH, July 02, 2018 –(PR.com)– SIAA (Strategic Insurance Agency Alliance) today announced that four master agencies are celebrating anniversaries with its alliance. · SAN (Satellite Agency Network) Group – celebrating 35 years – With over 370 signed independent agency members, SAN has grown to eight northeastern states, writing over $700 million in premium. SAN Group was the first master agency formed before SIAA was founded, and served as a model for all the other master agencies created nationwide. SAN Group is led by Matt Masiello, President & CEO, and…

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Men taking Truvada often rejected for disability insurance policy

Disability insurance policy - Men rejected for HIV prevention drug

Instances men turned down for coverage based on HIV prevention use are increasingly common. Americans taking the prescription drug Truvada are finding it harder to purchase a disability insurance policy. Truvada is an HIV prevention drug meant to help protect a user from becoming infected. The Affordable Care Act bans health insurance companies from discriminating based on sexual orientation. That said, the states themselves each have their own regulations for what is allowed to determine eligibility for certain specific types of coverage such as life, long-term care, or a disability…

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Videos from Association's 2018 Medicare Supplement Sales Summit Made Available

Los Angeles, CA, June 30, 2018 –(PR.com)– Some 45 sessions filmed at the just concluded 2018 National Medicare Supplement and senior insurance Sales Summit are now available from the American Association for Medicare Supplement Insurance. "We film sessions and make them available online so that insurance professionals who are unable to attend the event can benefit," shares Jesse Slome, director of the organization. The national Summit took place June 12, 2018 in St. Louis with hundreds of insurance agents and financial professionals attending. Four tracks of sessions were filmed according…

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