Travel insurance inquiries spike from Zika virus concerns

mosquito zika virus travel insurance

Vacationers and business travelers, alike, are looking into coverage to give them peace of mind. According to a recent data release, calls regarding travel insurance have skyrocketed from airline travelers who are worried about the type of medical care they would receive if they were to be infected with the Zika virus while away from home, how much that care would cost, and whether or not it will provide them with the opportunity to cancel their plans if they are headed into an area where infections are known. People heading…

Read More

Big data is becoming a priority for the insurance industry

US Big Data insurance industry

Executives come together to highlight the importance of big data Insurance technology executives from AIG, Chubb, Travelers, and several other insurance organizations recently came together during a seminar in Philadelphia to highlight the importance of big data in data management. Big data has become quite important within the insurance industry, with executives suggesting that there is no other industry that can benefit more from the use of big data. During the seminar, executives suggested that prioritizing big data may be able to help insurers better manage the risks associated with…

Read More

Wedding insurance becoming more common among Americans

Wedding Insurance

With the increasing cost of getting married and everything that it entails, more couples are purchasing coverage. The average cost for Americans to get married is now approximately $26,000 and, to an increasing degree, couples are purchasing wedding insurance to help to cover themselves against the sizeable financial losses that could occur as a result of illness, extreme weather, or even a sudden change of heart. The coverage isn’t offered by a large number of insurers in the U.S. but the number may soon grow. At the moment, wedding insurance…

Read More

Travel insurance isn’t always practical, says National Consumers League

Travel Insurance

The group has released a statement that the protection does not always make sense. According to the National Consumers League, a group that has been in existence for 114 years, the way that the industry functions has designed travel insurance in a way that it is typically not a good deal for travelers. They have pointed out that there are far too many exceptions to make the coverage worthwhile for most people. The consumer group has pointed out that travel insurance policies are filled with different kinds of exceptions that…

Read More

Insurance industry in N.A. sees Canadian insurer sold to American company

insurance industry news

Travelers has announced that it will be making the purchase for $1.25 billion in cash. The North American insurance industry has seen another major acquisition as an American insurer, Travelers Companies Inc. has just revealed that it is making a purchase of the Dominion of Canada General Insurance Co. This purchase is being made for a total investment of $1.125 billion to buy the company outright. The acquisition is being made as a part of the attempt Travelers would like to make to expand its presence in the Canadian insurance…

Read More

Travel insurance purchased by only half of Canadians

Travel Insurance

A new study has shown that only about fifty percent of travelers from the country buy a policy. A new study conducted by BMO has just revealed that while 83 percent of Canadians plan to go away on vacation at some point between May and October 2013, only half have intentions to purchase travel insurance to cover them while they are not at home. The survey examined a number of different habits of Canadians while they are away from home. For example, the average Canadian traveler intends to spend $3,073…

Read More

Homeowners insurance rate increases blamed on climate change

Climate Change homeowners insurance industry

The CEO of Travelers has said that severe weather patterns are the reason prices are rising. According to Jay Fishman, the CEO and chairman for The Travelers Cos. – one of the largest insurance companies in the country – has stated that the reason that the premiums for homeowners insurance have been steadily rising over the last three years has to do with the more extreme weather patterns that are the result of climate change. Insurers have come to accept that the weather is different now than it had once…

Read More

Travel product released by the Allianz insurance company in time for holidays

Travel Insurance

As Americans get ready to celebrate the Christmas season, there is new protection for their event planners. The insurance company called Allianz Global Assistance USA has just announced the release of a new travel product for event planners in the United States that is being launched just in time to assist people who are getting ready for their holiday celebrations. This was released in conjunction with the company’s annual Vacation Confidence Index. That insurance company survey was designed to help to gauge customer attitudes and behaviors regarding travel. What it…

Read More

Hurricane Sandy slams East Coast

Hurricane Sandy Insurance News

Hurricane Sandy makes landfall and insurers scramble to mitigate impact Hurricane Sandy has hit  the East Coast of the U.S. after building in strength throughout the majority of the past week. U.S. Insurers have been working to prepare for the hurricane, which is expected to cause a significant amount of damage as it passes through densely populated cities in the northeastern region of the country. Claims teams and insurance adjusters have been mobilized to areas that are expected to see the most damage ahead of the storm in an attempt…

Read More

Travelers makes insurance news by leaving Wall Street estimates in the dust

The latest insurance news from Travelers shows that it saw earnings far beyond expert predictions. Travelers Cos Inc., a property insurer, left estimates from Wall Street analysts in the dust in terms of predictions regarding its first quarter earnings, and made insurance news when it increased its dividend by 12 percent as the losses from natural disasters fell and as rates continue to rise following several weak years. Shares of the insurer increased to $62.35, an increase of 4.8 percent, reaching their highest level since May of last year. Analysts…

Read More