As the impact of climate change becomes increasingly costly to insurers, they are reducing protection. Some of the United States’ largest home insurance companies are announcing that the increasingly frequent and severe weather caused by climate change is leading them to raise premiums and remove certain coverages relating to natural disaster protection. Major insurers are increasingly finding themselves facing an unmanageable risk from natural disasters. That said, this type of decision is leading home insurance customers in some of the most vulnerable areas without the coverage they require the most.…
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Nationwide starts July as fully independent insurance agency carrier
The company has completed its transition which has been ongoing over the last 18 months. Nationwide has announced that as of July 1, it has become an independent insurance agency carrier. The Columbus, Ohio-based insurer has kept its relationships with 99 percent of its formerly captive agents. For 18 months, the insurer has been working on the transition process to become an independent insurance agency carrier. Throughout that time, it has managed to keep over 99 percent of its agents, who were formerly employed by the company. Now, those insurance…
Read MoreNationwide plans to keep remote insurance jobs permanently in 5 states
The insurer has made it possible for many employees to work from home even after offices fully open. Nationwide has announced its intention to permanently transition into an operating model that functions as a hybrid between in-office and remote insurance jobs. The employees who will be heading to the office will be those at the four main corporate campuses. The insurer will keep the in-office workers primarily at its four main corporate campuses. That said, it will keep its remote insurance jobs in place for the majority of other locations.…
Read MoreNationwide embraces new insuretech partnerships for commercial telematics support
The insurance company is working with Azuga and Zubie to power their new initiatives. The commercial insurance group at nationwide has secured two strategic insuretech partnerships. These are meant to help the insurer streamline its coverage options using telematics. Their goal is to launch new and refined fleet management programs for human services drivers. To do this, Nationwide has entered into insuretech partnerships with Azuga and Zubie. These two firms provide trip-tracking and analytics capability support technology. They are playing a substantial role in the insurance company’s Vantage 360 Premium…
Read MoreDallas-Fort Worth tornadoes spur concerns of insurance premiums
Report on Dallas tornado insurance claims Several powerful tornadoes cut a swath of destruction in the Dallas-Fort Worth area of Texas this week. The tornadoes caused a significant amount of damage to homes and businesses in the area but no death has been reported thus far. Claims adjusters have been streaming into the state from companies like Nationwide and Allied Insurance to help process the claims generated by the disaster. Insurers and state officials are encouraging all those that have storm-related claims to get in touch with an agent and…
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