Paramedic insurance coverage is broadening its importance in the United States

Business paramedic insurance

Experts predict that this type of policy will becoming increasingly necessary, particularly for disaster scenarios. Paramedic insurance coverage is a growing industry and experts predict that this growth will only continue to head upward. This includes in cases of U.S. disasters. In fact, the extreme weather events have been among the driving forces in insurance policies for paramedics. The many different extreme weather events and natural disasters in the United States this year have led to a rising interest in paramedic insurance. That type of coverage has already seen growth…

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Climate change and severe weather could increase insurance rates for everyone

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Even homeowners who don’t reside in areas struck by recent hurricanes could feel the pinch. Homeowners across America wouldn’t likely be surprised to hear that climate change and the severe weather coming with it could raise insurance rates in areas like Florida and Texas. That said, just because an area wasn’t struck by Harvey or Irma, it doesn’t mean rates won’t rise there, too. Motorists and homeowners throughout many U.S. states will likely watch premiums rise over the next while. Insurance companies are being increasingly affected by climate change. Severe…

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Hurricane Irma insurance losses may be far lower than first predicted

hurricane irma insurance losses

Initial forecasts plotted a far more destructive path for the storm than was actually the case. Following predictions of apocalyptic Hurricane Irma insurance losses, it appears as though the storm may be costly, but nowhere near the worst case scenario. It’s still far too early for specific totals, but recent figures suggest they may be as low as $10 billion. Randy Binner, an insurance analyst, explained that while initial projections for Hurricane Irma insurance losses were as high as $100 billion, this has now been reduced to between $10 billion…

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Hurricane Harvey damage to be among “top 10 most costly” for insurers, JPMorgan

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The financial services company told its clients that the costs could be between $10 billion and $20 billion. JPMorgan informed its clients that the Hurricane Harvey damage left behind in Texas could be as high as $10 billion to $20 billion. This would place it among the “10 most costly” hurricanes to make landfall in the United States, said the company. The storm first struck Texas last weekend and was a Category 4 at the time, before being downgraded. Gradually, it wound itself down to tropical storm status, though it…

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Allstate uses insurance drones to assess storm damage

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The insurer is using the technology to get a better idea of the property damage situation from spring storms. Allstate is using insurance drones to conduct an assessment of the property damage left behind by spring storms in four states. The company already owns the technology in a number of locations and was prepared to implement it when it was needed. In preparation to use the drones, Allstate Insurance readied itself with a solid fleet of the technology. The Allstate fleet of insurance drones are either ready or already being…

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Homeowners insurance industry officials recommend that consumers review coverage

Hurricane Isaac Homeowners Insurance Industry Damages

In light of the current hurricane season predictions, it may be wise for property owners to review their policies. The homeowners insurance industry has recently released a number of statements recommending that consumers take a moment to review the coverage they have so that they understand the type of coverage that will be available to them throughout the current hurricane season, which is expected to be an active one. This is a practice that insurance companies typically recommend on an annual basis, but reminders may help. According to the homeowners…

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Atlantic hurricane season starts today and may be an active one

insurance news - atlantic hurricane season

North America could be in for a more active storm season in 2016 than has been the case for the last few years. The North American east coast may be getting itself ready for activity this Atlantic hurricane season, which means that residents, businesses and insurance companies on that side of the continent should likely start to keep an eye on weather reports and take the right steps to prepare. Over the last few years, major hurricanes have been few in numbers, but it only takes one to bring catastrophe.…

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New legislation brings more clarity to property insurance

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Mississippi legislation aims to bring more clarity to the property insurance sector Mississippi lawmakers are attempting to bring more clarity to the property insurance space. A new legislation, which has won support from the House of Representatives, is set to appear before the state’s Senate. The legislation is designed to bring more transparency to homeowners insurance and provide clarity on the premiums that insurance companies collect. Called the Property Insurance Clarity Act, the legislation is gaining strong support. Last year, a previous version of the legislation was struck down by…

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Insurance claims pouring in with Arthur rains

insurance industry claims

The Atlantic coast of Canada was pummeled with heavy downpours and high winds from the post-tropical storm. The insurance claims are already beginning to be filed in waves that were nearly as heavy as those off the coast following the rampage from post-tropical storm Arthur as it made its way through the Canadian Maritimes. Agents are asking residents of the affected provinces to please be patient and review to their policy coverage. The majority of homeowners insurance policies do cover wind damage, which does not fall under the definition of…

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Consumers begin pulling out of South Carolina homeowners insurance program

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Insurance program is experiencing an exodus of policyholders Homeowners are beginning to pull out of South Carolina’s wind pool insurance program. The program exists as a last-resort option for those seeking insurance coverage in the state. The program is primary meant to provide coverage to properties that exists along the state’s coastlines, where wind damage is somewhat common. Many insurance companies in the private market do not offer wind protection alongside their homeowners insurance policies, which has made the state’s insurance program relatively popular, until very recently. Population of state’s…

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