Allianz SE insurance company is filing a lawsuit against celebrity and heiress, Paris Hilton. The insurer paid Damiani’s claim for jewels that were stolen from Ms. Hilton. Allianz says the police recovered part of the jewels, and she should return them to the owner; a Manhattan jeweler. But according to Ms. Hilton’s spokeswoman, the suit isn’t based on the facts. In December 2008, a burglary ring that was targeting celebrity homes, robbed Paris Hilton’s mansion. They stole over 2.5 million dollars worth of jewelry; including jewels that were on loan…
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Australia: Property insurance risk are being recalculated
The flooding that struck Australia’s Queensland some months back was expected to have severe ramifications on the insurance industry. Now, officials are reporting that rates for homeowners are going to be raised by as much as 30%. Queensland residents have been receiving renewal notices for their policies’ premiums will be increasing. Many of these policyholders own property that survived the flooding without any damage, leading them to question the rate increase. Insurers claim a myriad of reasons behind the rate increase. While the flooding is a prominent factor, they assert…
Read MoreBershire Hathaway opens doors in India
Berkshire Hathaway Inc., a U.S. based insurance company run by Warren Buffett, has announced that they will be entering the insurance market in India. The insurer will make its entrance into the Indian sector as a corporate agent of Bajaj Allianz General Insurance. Berkshire Hathaway will provide general insurance products via online distribution. They will focus their efforts mostly on auto insurance and branch out from there. The Indian insurance market is experience rapid evolution and Berkshire Hathaway is committed to providing the products that are needed most. According to…
Read MoreLargest insurer in Europe encourages consumers to shop their car insurance
Allianz, one of the biggest insurers in Europe, is anticipating that 1 in 10 drivers will cut back their auto insurance coverage this year. In an effort to retain customers, they have launched a new service called, “Your Cover Car Insurance”. Exclusive to online users, Your Cover is designed to help motorists see if they can keep the same amount of coverage they currently have but for a lower price. An independent study conducted on behalf of Your Cover showed that 10% of drivers are looking to cut back on…
Read MoreFireman’s Fund announces green partnership
The demand for green products is growing every year and has now made its way into the insurance world. Major insurer, Fireman’s Fund Insurance Company, is the first to deliver new options like, “Green Insurance”. The property/casualty and commercial insurer are the innovators of green insurance by rewarding their clients with discounts and special “green” coverages. In recent days, the company announced a new referral partnership with Scientific Conservation Incorporation, also known as SCI. SCI specializes in commercial building energy efficiency through Predictive Diagnostics and Analytics systems. Their software solutions…
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