Massachusetts to investigate homeowners insurance rate increases

Massachusetts homeowners Insurance

Senate panel to look into the rate at which homeowners insurance premiums are growing Homeowners in Massachusetts have been reeling from major insurance hikes in recent years. Many insurers have been raising rates by significant margins due to record snowfall over the past winter. Homeowners have expressed their concerns regarding the rate increases, which have placed them under a greater degree of financial stress. Now, state lawmakers are looking into the issue to determine whether or not the rate increases are necessary. Panel will be interviewing insurance professionals and regulators…

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Massive insurance fraud scam involves 33 people crashing cars

auto insurance fraud accident

In Santa Clara County auto insurers were scammed by a huge number of their policyholders. According to the Office of the District Attorney in Santa Clara County, there were 33 people involved in a tremendous insurance fraud scam, as they deliberately crashed older cars into each other in order to be able to file claims. The insurance companies were the victims of an alleged scam that had them paying for the deliberate crashes. The majority of the defendants were from San Jose. Each of them has now been charged with…

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What Canadian Snowbirds Should Keep In Mind When Getting Travel Insurance

Your annual escape to the balmy south is supposed to be a time of rest and relaxation–a break from the burdens of everyday life. Unfortunately, for some snowbirds, the quest to avoid mountains of snow leads to an avalanche of unexpected medical bills. Yes, the responsible traveller who makes the seemingly wise decision to purchase travel medical insurance can find themselves penniless thanks to a number of hard-to-spot loopholes designed to absolve insurance providers of financial responsibility to their loyal customers. When it comes to many travel insurance contracts, it…

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Insurance news from UK reveals investigation plans from regulator

UK cyber Insurance industry News united kingdom

The FCA is now looking into the selling strategies many insurers are using with add ons. The Financial Conduct Authority (FCA) in the United Kingdom has made an insurance news announcement that it is investigating techniques being used by insurers for the sale of their products in order to increase their competitive powers. The study is being conducted specifically into the practices surrounding the add ons in the industry. The Chief Executive of the FCA, Martin Wheatley, first announced the insurance news at an industry conference that was held on…

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Insurance news about Nationwide’s management of the security breach is covered up

health insurance news security privacy

The massive insurer’s lawyers are being used to protect the details of the occurrence last October. Nationwide is currently doing its best to try to keep its insurance news as small as possible, regarding the investigations into the security breach that occurred last October, which exposed the information of 1.1 million Americans. The insurer is taking considerable efforts, through the use of a law firm, to protect the secrecy of the issue. Both state and federal investigators are currently looking into this insurance news, in order to better understand precisely…

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Insurance news in Florida made when Governor contacted Citizens

Florida homeowners insurance, Citizens Property

Gov. Rick Scott is seeking to find out why the state-backed insurer fired its corporate integrity team. The Governor of Florida, Rick Scott, has made insurance news by throwing in his support for the efforts to investigate why the corporate integrity team was let go from the state’s insurer of last resort, Citizens Property Insurance Corp. The Chief Inspector General, Melinda Miguel, has now been assigned to investigate the event. On Monday, Governor Scott directed the Chief Inspector General to look into the termination of the watchdog team – which…

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Consumers being warned to protect their social media information from insurance companies

As social media becomes a popular tool for the insurance industry for investigating claims and, at times, pricing insurance policies, consumers are being warned to watch what information they share on their favorite networking platforms. A new study from the Paw Research Center, a market research and trend analysis firm, shows that the majority of adults in the U.S. (64%) have an active social media presence. The study finds that a scant few of these people have any knowledge on how to protect the information they share on these platforms…

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