Live Insurance News

Insurance industry may be vital to solving some of the world’s problems

June 12, 2014June 10, 2014 Logan B.

Bill Clinton identifies three issues that are significant problems for the global community The insurance industry may be vital to helping the world overcome some of its most serious problems, according to former President Bill Clinton. Both insurance and risk management may be needed to help the global community overcome the problems relating to the inequality of access and opportunity, political instability, and climate degradation. Clinton has identified these three matters as the most significant challenges facing the world today, and insurers may be in a position to help the…

Hail storms in Iowa and Nebraska test homeowners insurance providers

June 9, 2014June 9, 2014 Logan B.

Natural disasters cause significant damage in both Iowa and Nebraska Insurance companies in Iowa and Nebraska are beginning to field claims in the wake of major hailstorms that occurred in both states. The storms caused major damage to vehicles and property in Iowa and Nebraska, generating thousands of claims that has caused large insurance companies like State Farm to make “staffing adjustments.” The number of claims that insurance companies have received has not yet been revealed. The actual cost of the natural disasters in both states is still being assessed.…

Pennsylvania Insurance Department aids in recovery after unusual hailstorm

May 29, 2014May 26, 2014 S.Vagus

Powerful hailstorm causes significant damage to homes and vehicles in Pennsylvania A massive hailstorm has struck Pennsylvania and neighboring states. The storm is being called a particularly “devastating” event and lead to significant damage to property and vehicles. The Pennsylvania Insurance Department has begun working with those affected by the power storm, hoping to assist in the recovery process and help consumers better understand their insurance policies and what coverage they have. The damage caused by the hailstorm is still being assessed. State agency brings in out-of-state appraisers to expedite…

Insurance news takes off with class action climate change lawsuit against government

May 23, 2014May 20, 2014 Julie Campbell

Farmers has now filed nine different suits against local Chicago area governments. The latest insurance news is now showing that in April, Farmers Insurance Co. had filed nine separate class action lawsuits regarding the impact of climate change within the Chicago area. These lawsuits have been filed against local governments within the area of that city. The argument being made by Farmers in this insurance news is that those local Chicago area governments were perfectly aware of the impact of climate change and that it is bringing heavier rainfalls to…

The Insurance Industry and Climate Change

May 17, 2014May 16, 2014 Note From The Editor

Climate Change Insurance agents Industry

Climate change does not escape the notice of insurers Climate change is a controversial issue, but not so controversial that the insurance industry would avoid it. Indeed, many insurance groups around the world are beginning to consider climate change a very serious problem that should receive equally serious attention. While climate change has become heavily politicized, the insurance industry is keen to remain somewhat neutral on the matter, suggesting that the potential damages that can be associated with climate change are a more important subject than the cause of climate…