Flood Re could provide affordable flood insurance in the United Kingdom

flood insurance

UK homeowners may be able to find inexpensive policies through new government program The United Kingdom’s new flood insurance program, called Flood Re, may be able to help homeowners in high-risk flood regions acquire the coverage they need affordably. The program is designed to ensure that homeowners have effective insurance protection against floods. Currently, many homeowners are paying massive insurance premiums for their flood coverage. The UK government intends to resolve this issue with the new insurance program, which aims to provide consumers with lower premiums. Floods can cause severe…

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Chubb bundles cyber bullying coverage with its homeowners insurance policies

Chubb homeowners Insurance

Chubb is now offering coverage for cyber bullying Insurer Chubb Limited has announced that it will be adding cyber bullying to its homeowners insurance policies. These policies will cover several costs, including those associated with mental health treatment, legal expenses, and lost wages. For many, cyber bullying is a very real issue that can cause significant trauma. Since the advent of the Internet, those with malicious intent have targeted various types of people, some doing so for the sake of entertainment. Chubb intends to provide these people with some degree…

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Single-payer system could secure health insurance for millions

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Open letter highlights the potential benefits of a single-payer health care system Some 560 medical professionals and medical students have come together to issue an open letter concerning the renewed debate concerning health insurance in the United States. With the 2016 presidential campaign in full swing, politicians have been highlighting the merits of a single-payer health care system. Such a system involves the state, rather than insurance companies, paying for all health care costs. Many believe such a system would make it easier for people to acquire health insurance coverage.…

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Cyber insurance is becoming more important throughout the world

cyber insurance theft id higher rates

Report highlights the growing demand for cyber protection IDC Financial Insights has released a new report highlighting cyber insurance as an excellent opportunity for insurers due to the growing demand for this form of coverage. Cyber insurance is becoming more important as companies become more reliant on digital technology. These companies face serious risks that could result in severe financial losses if they do not adequately protect the sensitive information of consumers. Demand for cyber protection is on the rise and insurers may find promising opportunities in this emerging market.…

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Google is pulling out of the insurance industry, for now

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Google will be closing down its insurance comparison website within a month Google has announced that it will be shutting down its Google Compare insurance comparison site. This may be a reflection of Google’s intention of selling financial products, such as auto insurance coverage. Google Compare has been operating in the United Kingdom for three years and the company had planned to bring the service to the United States in the near future. The site allowed users to compare prices on auto insurance coverage, but the site was never to…

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Auto insurance premiums continue to grow in the UK

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UK reports greatest increase in premiums it has seen since 2011 Auto insurance premiums in the United Kingdom saw the greatest increase in 2015 that have been reported in the country since 2011. Throughout 2015, rates have been growing steadily, with some drivers expressing concern regarding the increased financial pressure. According to Confused.com’s auto insurance price index, rates in the UK rose by an average of 13.2% overall. In the fourth quarter of last year, rates grew by an average of 6.9%. Insurance Premium Tax and other factors are affecting…

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Auto insurance fraud suffers a blow in the United Kingdom

auto insurance young drivers UK

UK Ministry of Justice puts an end to compensation for minor whiplash injuries The United Kingdom government is working to combat auto insurance fraud and the Ministry of Justice is putting an end to compensation for minor whiplash injuries caused by car accidents. Instead of receiving compensation from their auto insurance providers, their rehabilitation will be paid for, which the government expected will save consumers an estimated $1 billion a year in insurance costs. Moreover, cutting down of fraudulent claims may lead to a decrease in auto insurance premiums. Changes…

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