Live Insurance News

Insurance news from Australia shows surprising spending of disaster payouts

January 15, 2013April 30, 2013

Many victims are using their funds to help to pay their vet bills for pet care. A recent insurance news report has shown that the disaster emergency fund payments are being spent in ways that were not expected, as data indicates that thousands of policyholders are spending half of the money they collect on veterinary bills. The statistics were collected through cumulative figures generated by emergency fund debit card use. In order to help disaster victims as quickly as possible, the insurance news reported, insurers have been issuing debit cards…

Insurance news from Australia shows growing fire damage

January 9, 2013January 9, 2013 Julie Campbell

Warnings have been issued as the flames from the wildfires continue to spread in Tasmania. The latest insurance news from Australia is that the insurers in the country are now issuing warnings to businesses and homeowners in order to be vigilant with their coverage as the wildfires continue to rage their way throughout the island state. The heat wave conditions continue to sizzle throughout the region, giving no respite from the fires. Rob Whelan, the chief executive of the Insurance Council of Australia, has stated that the continuing stream of…

Fire insurance woes cause upset among homeowners in Colorado

September 7, 2012September 6, 2012 Marc

Colorado homeowners insurance industry wildfires

High Park fires are now causing many policyholders to have to fight for compensation. The homeowners who lost their houses to the fires in High Park attended a Larimer County meeting in order to express their frustrations regarding the way that their wildfire insurance claims are being handled by their insurers. Many homeowners were in tears as they shared their settlement data which has fallen short of expectation. There were around 130 people in attendance, who complained about the depreciated fire insurance settlement offers that they received and which will…

Oklahoma Insurance Commissioner has started the wildfire damage assessment

August 9, 2012April 30, 2013

The massive fires have caused tremendous insured losses. The Oklahoma Insurance Commissioner has had nothing but applause and praise for the firefighters that have been battling the many wildfires throughout the state that have raged out of control. Commissioner John Doak visited both Creek and Luther Counties this weekend. That was the start of the ongoing process for assessing the damage that will be claimed by Oklahoma insurance policyholders. The wildfires were devastating, having destroyed many homes in the state. Those homeowners are now awaiting the results of these assessments,…

Homeowners insurance policies will typically cover destruction from wildfires

July 12, 2012July 12, 2012 Dan

The fires in Colorado have caused many – affected and not – to look at their own coverage. As hundreds of Colorado homes are destroyed by wildfires, many find themselves looking to their own homeowners insurance to find out what coverage they have in the case of a similar circumstance in their own areas. Fortunately – for both those affected and not – the typical policy does cover this type of damage. According to a spokesperson for the Insurance Information Institute, Michael Barry, wildfire is among the forms of destruction…