Live Insurance News

The insurance industry is broadly investing in chatbots

March 10, 2023March 9, 2023 Logan B.

Insurers are looking for new ways to improve their customer experience amidst a hiring shortage. The insurance industry worldwide is investing in AI-powered insurance chatbots to help boost the customer experience they can provide, even as they face their largest ever hiring shortage. Inflation, rising interest rates and greater global economic pressures have increased the drive insurers have to look at alternative opportunities to keep their customers this year. Many consumers find that it is preferable to interact with chatbots for completing many tasks. According to 2019 data (the most…

Massive insurance battle results from Russia’s seizure of 400 planes

May 2, 2022April 29, 2022 Marc

Aircraft lessors are filing claims for payouts, but insurers don’t agree that coverage extends that far. When Russia invaded Ukraine, it threw a number of markets into turmoil, and in the case of the aircraft market, it has also led to a tremendous insurance battle. Aircraft leasing firms provide approximately half of the 1,000 planes in Russian airline fleets. The aircraft leasing firms are from outside Russia and are finding themselves locked between Russian airlines that refuse to pay and insurers who say they’re not obligated to do so. This…

State Farm boat insurance claims frequently involve small objects

April 7, 2022April 6, 2022 Nordstrom

Striking things under the surface of the water are leading to a rising amount of damage. State Farm recently released boat insurance data showing that striking floating or submerged objects are the leading cause of claims for the last five years. The insurer also released recommendations to help watercraft owners to avoid costly damage. While boat insurance is vital to have in case damage happens, what’s even better than having adequate coverage is not having to make a claim in the first place. State Farm is hoping that watercraft owners…

How To File A Personal Injury Claim

February 22, 2022 Guest Author

Personal injury law, which attorneys refer to as tort law, allows you to make a claim for compensation when injured in an accident caused by the negligent, careless, reckless, or intentional conduct of another party. State laws control the process for filing a personal injury claim, including setting limits on how long you have from the date of an accident to assert the claim or lose the right to recover damages. You generally must follow the law of the state in which an accident occurred, so the smart thing is…

How to handle unpaid insurance claims

October 10, 2021 Guest Author

It is often overlooked how important it is to have insurance. It protects them from financial loss in case an unexpected event occurs. When someone has an accident or a crisis that insurance should handle, they need to file a claim for their damages with their insurance company to be paid out. Unfortunately, there are some cases where a claim is not handled properly. When this happens, the client may have to take legal action against their insurance company to be compensated for losses. Though it’s stressful and sometimes difficult…

Insurers offer timely advice to help prevent winter home insurance claims

January 4, 2021December 23, 2020 G. Turner

Winter home insurance claims - house in winter - snow

As the weather gets much colder, storms and below-freezing temperatures come with certain risks. To start the year off on a positive note, insurers are sharing tips and strategies with policyholders to help them to prevent having to make winter home insurance claims. Damage and liability from storms, high winds, and freezing temperatures are often avoidable. Insurance Information Institute data showed that last year, there were $2.1 billion in winter home insurance claims caused by storms from this time of the year. That said, if policyholders had all taken certain…

Healthcare fraudsters continue to get caught despite coronavirus pandemic

July 28, 2020 Guest Author

Most things in life have been paused in one way or another by the coronavirus pandemic. Whether that’s sport, entertainment, construction or even something as simple as going to the shops, social distancing has slowed so many things down. Yet the justice system’s ability to prosecute those allegedly abusing the healthcare system for financial gain shows now signs of slowing. A quick search for the term “healthcare fraud” on Google will bring up dozens of new news articles every week. When you look at the numbers involved, it’s clear to…