Workers compensation technology is reducing claims frequency

Workers compensation technology - Computer - Business - Statistics

The use of tech within this insurance space is making positive changes to the market, says a new report. Workers compensation technology is proving exceptionally advantageous to the insurance market in terms of positive and sizeable changes, said an expert’s report. The tech is promoting reduced claims frequency, which is sending rates downward. The fewer the claims insurance companies receive, the less they must often charge for coverage. “We think it’s due to insurance companies doing better on the claims of their policyholders by using technology to drive down the…

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Farmers Insurance celebrated Dr. Seuss’ 115th birthday with a clever story

Farmers Insurance Celebrates Dr. Seuss' brithday - students

The insurer released an ad based on real claims recreated into a Dr. Seuss-style storybook ad Farmers Insurance chose to celebrate Dr. Seuss Day – what would have been the author and illustrator’s 115th birthday) – with an animated ad written in his storytelling style. “The More That You See” was based on real claims filed with the insurer and was voiced by Professor Burk, the brand’s spokes character (voiced by Oscar winner J.K. Simmons). The amusing 60-second animated ad was amusing enough to enjoy viral status on social media.…

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Frozen pipe insurance claims are highest in Illinois once again

Frozen pipe insurance claims - Frozen Pipe -Ice

For the second year in a row, the state has suffered the most claims for burst plumbing from freezing. State Farm Insurance has released its data regarding frozen pipe insurance claims and has, once more, placed Illinois at the top of the list. That said, the state’s position at the top isn’t a coveted one. The reason is that it is for having filed the most claims filed regarding burst pipes due to freezing weather. The insurer has taken the opportunity to share its stats and advice for home and…

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Top Christmas homeowners insurance claims identified as a caution to consumers

Christmas homeowners insurance claims - House decorated for christmas

Policyholders are advised to learn from the mistakes of others so they won’t be repeated. Insurers are releasing their lists of top Christmas homeowners insurance claims from previous years. This is meant to be useful information for policyholders who want to make sure they have a claim-free Christmas this year. The combination of decorations, cooking and drinking can all pose a range of preventable risks. Insurance companies are hopeful that by educating consumers about the risks, it will help them to make better choices and prevent disaster. In this way,…

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Allstate wildfire losses from November in California reached $685 million

Allstate Wildfire Losses - Fire in forest

The insurance company has announced its November 2018 catastrophe loss estimate including fires. Allstate wildfire losses were recently announced for the month of November 2018. The insurance company estimated its catastrophe losses to be $685 million, at 679 million pre-tax, or $541 million after tax. The Allstate catastrophe losses included another $6 million in unfavorable reserve reestimtates. Initially, the Allstate wildfire losses were estimated to have been $202 million pre-tax, or $160 million after-tax for the month of October 2018. That said, the ongoing fires brought the October and November…

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Top Snowmobile Season Preparedness Tips to Avoid Insurance Claims

Snowmobile Season - Snowmobile

Riders are eager to get on their favorite winter recreational vehicles, but a bit of care is needed. Early snow this year has already made it possible for certain parts of the country to start thinking about snowmobile season. It won’t be long before snowmobilers hit the trails. To be ready as soon as it’s possible to head out, it’s a good idea to prepare in advance. Heading out for snowmobile season isn’t just a matter of getting the machines out of storage and hitting the trails. Certain preparations need…

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Top tips to avoid winter holiday season home insurance claims

Winter holiday season - Christmas tree and Christmas decorations

This season is filled to the brim with festivities, but these celebrations also come with certain risks. The winter holiday season is already well underway. Friends and family gather together for parties, meals and other celebrations. All this extra food, cooking and people can pose some potential risks at home that could lead to homeowners insurance claims unless you take the right precautions. Understanding the risks is the first step to making sure you’ll take the right steps to prevent hazards. Understanding the risks associated with the winter holiday season…

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