Tag: technology insurance

Unemployment insurance fraud spikes as identity theft rises in pandemic crisis

Nordstrom
Unemployment insurance fraud - woman's face - binary code

North Dakota is a clear example of this troubling trend throughout the first half of 2020. Identity theft has become much more prevalent during the pandemic crisis, leading to a tremendous surge in unemployment insurance fraud filings. Claims of identity theft have taken off during the first six months of 2020. The Consumer Protection Division of the North Dakota Attorney General’s Office has processed more claims relating to identity theft in the first half of this year than in any other complete year on record, said attorney Parrell Grossman, speaking…

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Cyber insurance companies have faced substantial losses cutting into profitability

G. Turner
Cyber insurance company - business - laptops - report

Though this type of policy has become more popular, the risks and payouts have also risen. An increasing number of businesses have been contacting their local cyber insurance company to protect themselves against risks such as data breaches and hacks. That said, this market remains quite new and models are ever evolving. The risks have been rising in this area, placing a considerable amount of stress on this marketplace. According to one expert quoted by InsuranceBusinessMag, the cyber insurance company market is “under the most stress it’s been in recent…

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Canadian insurance officials issue recommendations regarding self-driving cars

Julie Campbell
Technology - Self-Driving Cars

The Insurance Bureau of Canada is looking at the future of automated vehicles directly in the face. The Insurance Bureau of Canada (I.B.C.) has issued recommendations regarding self-driving cars and their impact on the industry. The I.B.C. recently released a position paper in which it addressed the issue of automated vehicles. The I.B.C.’s paper was titled, “Auto Insurance for Automated Vehicles: Preparing for the Future of Mobility.” This focus on self-driving cars was published during the bureau’s annual Regulatory Affairs Symposium. The paper looked into the auto insurance industry and…

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Travelers insurance discounts added after purchase of home policies over Amazon

Julie Campbell
Travelers Insurance Discounts - Woman - Discount Price

The insurer has opened a storefront on the website’s marketplace, said a company announcement. Policyholders seeking Travelers insurance discounts may be able to find them by shopping on Amazon. The insurance company has created a digital storefront that has become the first of its kind on the electronic marketplace. The homeowners insurance policies will use smart home technology to help monitor houses. “Smart home technology is making it easier for all of us to monitor our homes and help protect us from some of the most common causes of damage,”…

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AT&T to sell smartphone insurance for broken phone screens

G. Turner
smartphone insurance

This coverage will be available for owners of any of eight models of mobile devices. AT&T has announced that it will be selling smartphone insurance to cover a limited number of device models. This policy is designed to be somewhat different than the standard cell phone coverage. The broken phone screen insurance from AT&T will let customers obtain same day repairs. Overall, the smartphone insurance from AT&T sounds like the traditional form of coverage. Should the mobile device screen break, the company – and its insurance provider, Asurion – will…

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