Live Insurance News

California wildfires get off to an early and costly start

May 19, 2014May 17, 2014 Julie Campbell

With a drought already in place, the season has begun in a disastrous way. The historic droughts that have already been wreaking havoc across the United States have kicked off California wildfires season earlier than usual, and the insurance industry is now predicting that the costs of the damage will be as high as $1.8 billion. This cost represents about $500,000 more than the amount available for fire control resources. The California wildfires aren’t the only ones that are now raging. Oklahoma has also found itself battling seven fires, already,…

Philadelphia insurance industry group donates $59k for smoke detectors

December 12, 2013December 10, 2013 Julie Campbell

philadelphia insurance industry smoke detector

The group has been donating to the city’s Fire Department every year at around this time. This year, Christmas came early for the city’s Fire Department when a Philadelphia insurance industry group made a sizable donation for the purpose of purchasing smoke detectors that could help to save the lives of thousands of families throughout the city. The oversized replica check has now been presented by the group in a tradition that occurs annually. The Insurance Society of Philadelphia was the result of an effort that began in June at…

Nonsmokers homeowners insurance discounts are butting out

December 11, 2013December 9, 2013 Julie Campbell

Though once quite common, the reduced premiums paid by people who don’t smoke are becoming rare. It wasn’t that long ago that reporting to an insurer that you wished for nonsmokers homeowners insurance because nobody in the household was lighting up was not only good for the health of your family, but also for your wallet. However, it is becoming increasingly rare to be able to shave those extra dollars from your premiums in this way. This is especially the case in Massachusetts. The nonsmokers homeowners insurance discount in the…

Fire insurance claims break records on Thanksgiving Day

November 27, 2013November 25, 2013 Julie Campbell

Holiday Mayhem - Thanksgiving turkey’s go up in smoke!

Insurers are cautioning Americans to take some simple safety precautions this year. Thanksgiving Day is a holiday that represents togetherness, family, and giving thanks for all of the things with which we have been blessed in our lives, but it is also the time of year that inevitably leads to the highest number of fire insurance claims. Studies have shown that fire departments can receive up to three times the typical number of calls on Thanksgiving. The reason is that there are many Thanksgiving activities that involve an increased risk…

Homeowners insurance lacking in over 9 in 10 UAE homes

November 22, 2013November 25, 2013 H. Cutner

Recent findings from Zurich have revealed that the current trend is headed in a downward direction. It took a massive fire in a Dubai residential tower, last year, to truly draw the attention of property owners in the United Arab Emirates to the importance of homeowners insurance, but it looks as though the climbing trend has come to an end and is starting to drop once more. A recent study has shown that over 9 out of every 10 people don’t have their homes covered. The homeowners insurance study was…