Business insurance claims show clear patterns for losses by providers

Business Insurance policy

According to recent data, some of the top causes of claims losses include power outages. A recent data analysis conducted by Allianz Global Corporate & Specialty has revealed that power failure were among the leading causes for interruption related loss claims on business insurance policies from 2010 through 2014, worldwide. In fact, power outages took tenth place when it came to losses from business interruption during that time. The Allianz Global Corporate & Specialty firm specializes in industrial and business risk coverage and its research involved an analysis of almost…

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Insurance claims prevention a low priority for Americans during the holidays

Thanksgiving turkey fire insurance claims

A new Allstate Holiday Home Hazards survey showed most people don’t take many precautions at this time of year. From Thanksgiving through the New Year, this hectic time of preparing for guests, decorating, cooking and entertaining (all on top of our everyday lives) brings about an increase in the number of insurance claims received from insurers. That said, a recent survey has shown that people don’t seem to be giving priority to taking precautions. A new poll released by Allstate has shown that once Thanksgiving dinner is done, 75 percent…

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Insurance claims spike following intense winter weather

Winter Storms insurance claims

From flooded basements to burst frozen pipes and damage to vehicles, insurers have been kept busy. The wild weather this winter has caused an influx in insurance claims as well as calls to contractors and repair companies as everyone from homeowners to vehicle owners have been facing damage as a result of various issues relating to the extreme conditions. From the heavy snowfalls and the extremely low temperatures to the sudden thaws, filings are way up. Insurers have been reporting that insurance claims have experienced a significant increase over the…

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