Business insurance claims denied to vendors at hugely popular farmer’s market

st jacob farmers market fire business insurance

Some of the sellers at the St. Jacob’s Farmers’ Market which was destroyed by a fire will not receive a payment. The start of September brought devastation to a farmer’s market so unique that every year, it brings in crowds from around the world, but business insurance couldn’t save some vendor from the losses that were incurred from a massive fire that destroyed the main building. Early on Labor Day morning, flame engulfed the sprawling two-story building, leaving only rubble behind. Now, several St. Jacobs Farmers’ Market vendors are being…

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Berkshire Hathaway makes a move on business insurance

Business Insurance

Berkshire Hathaway to muscle into business insurance sector Berkshire Hathaway is making a strong move into the business insurance sector in order to have a greater impact on how this sector operates. The company has been looking to enter into new sectors of the global insurance industry lately in order to take advantage of new opportunities that exist in developing markets around the world. In the past, the company has pushed into the business insurance sector due to certain trends, but this time is different for Berkshire Hathaway. Company cites…

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Property and casualty insurance rates increased by 5 percent last month

Property insurance News commercial P&C insurance

According to MarketScout data, the prices rose in April for policyholders of commercial products. According to a report from MarketScout, the rates for commercial property and casualty insurance rose by an average of 5 percent in April 2013, when compared to the rates that were being charged a year before. It was workers compensation and commercial property that saw the largest increases over a year. The commercial property and casualty insurance and workers compensation saw a combined average rate increase of 6 percent. Surety and employment liability coverage each increased…

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Insurance news features highlight on water damage scams in 2012

water damage insurance news

Insurers are cautioning consumers to take care in the way they deal with their cases. Due to recent insurance news that has included a massive increase in the number of water damage scams throughout this year, insurers are now warning their customers to take care to contact their homeowners or business insurers immediately to make sure that all procedures are followed correctly and they can obtain the proper assistance. In some states, such as Florida, approximately half of all claims have to do with water damage. The problem is that…

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SAS is a rising star for the insurance industry

Insurance industry gender diversity

SAS gaining popularity for innovative anti-fraud, security, and business analytics solutions SAS, a leader in business analytics software and services, is becoming a very popular name in the realm of fraud in the insurance industry. The global insurance industry continues to struggle with fraudulent activities throughout numerous sectors, many of which have adverse effects on honest customers. SAS has become a leader in anti-fraud and security software and have been working to combat fraud in an aggressive manner. The firm has begun expanding its Security Intelligence initiative by establishing a…

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Business insurance premiums will rise following rate cut

Business Insurance Rates

A campaign from the Reserve Bank will cause companies in Australia to pay more for coverage. One of Australia’s leading business insurance companies has revealed that it will be required to increase the premiums it charges in order to compensate for the aggressive cut in rates by the Reserve Bank, which are eating into the insurer’s investment earnings. This latest news was announced ahead of the monthly meeting of the country’s central bank. The commercial arm of the business Insurance Australia Group has stated that it doesn’t see any other…

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Insurance news from London has insurers under fire due to riots compensation

Riot Insurance claims News

Many policyholders have faced significant delays in receiving their payments. In August of 2011, businesses throughout London were faced with significant damage due to massive rioting throughout the city, and the latest insurance news has shown that many have not yet been compensated by their insurers. It is estimated that one third of the businesses hadn’t received anything four months after making a claim. One out of every three claims made by businesses following the rioting have made insurance news because they hadn’t received a single penny to help to…

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Insurance news from Munich Re shows that it will see “profitable growth”

Munich Re Insurance companies News

The reinsurer has announced that it expects to boost its industry coverage business. Munich Re has made insurance news with its latest statement, which has indicated that it expects to be able to increase the size of its industry coverage business, which offers corporate clients both insurance and reinsurance. The last cycle has already shown notable increases, and this does not show signs of halting. The head of the corporate insurance partner unit for Munich Re, August Proebstl, stated that “We have shown that we can achieve profitable growth in…

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Latest Towers Watson insurance news

Insurance industry News

Surveys about commercial P/C coverage show increasing rates. For the fifth quarter in a row, Towers Watson insurance news is showing that commercial property and casualty coverage saw an increase in its prices. The first quarter of 2012 saw a rise in rates by almost 5 percent. Furthermore, the loss ratios for commercial insurers was found to have stabilized for the majority of coverage lines, and saw improvement in the lines that had the largest increases in their rates. This, according to the data collected from the Commercial Lines Insurance…

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Identity Fraud, Inc. insurance news made with launch of new small business product

Identity Theft Insurance

Identity Fraud, Inc. used the 2012 ETA Annual Meeting & Expo as the venue for the announcement of its latest insurance news, with the unveiling of its SB Core Protector product. This new product is designed to combine the “top ten” solutions for data theft risk management for small businesses, for preventing, resolving related issues, and providing vital insurance resources. It offers its policyholders five prevention components for security risk in a layered, proactive way. It also offers three forms of insurance against data theft, as well as two services…

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