Insurance coverage increasingly scarce and costly for fossil fuel companies

Insurance Coverage - Oil sands

Oil sands and coal companies are facing rising challenges getting affordable coverage worldwide. Insurance coverage is critical for any large business to operate, but firms centered around oil sands and coal are finding it increasingly challenging to get the policies they require, particularly at an affordable price. A growing number of insurers have stopped underwriting companies in high-polluting fossil fuels. As a result, insurance coverage is harder to find for companies producing, transporting or storing certain fossil fuels that are among the highest greenhouse gas emitters, such as those involved…

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Farmers to begin use of its insurance robot named Spot

Insurance robot - Spot Launch - Boston Dynamics Official YouTube

The insurer will use the technology to enhance its catastrophe claims and property inspections. Farmers insurance recently announced its plans to launch a digitally controlled mobile insurance robot for assistance in completing in-field catastrophe claims as well as with non-catastrophe property inspections. The technology, called Spot, is meant to help improve both safety and efficiency. The insurer plans to use the insurance robot for improving the safety of non-catastrophe property inspections and in-field catastrophe claims, as well as to make those processes more efficient. This step also makes Farmers one…

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What Does Landlord Insurance Include?

What Does Landlord Insurance Include?

A landlord shield or insurance is designed to cover unique risks associated with renting your property for a long period. It includes things like property damage, liability cost, along with the loss of rental income, for landlords renting out their property. Whether you are renting out a vocational home or an investment property, in the form of landlord insurance holds extreme importance. It is essential to protect your property against the financial risks associated with the renters living there. Landlord shield policies generally cover the dwellings or structures of your…

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Mercury General Corporation names Victor Joseph Executive Vice President and COO

Mercury General Corporation - Job Promotion

The company has called this a positive step forward “for a strong and vibrant future”. Mercury General Corporation (NYSE stock symbol MCY) recently announced that it has named Victor Joseph as its Executive Vice President and Chief Operating Officer (EVP & COO). The position was newly created, and Joseph will become the first to hold the title. Joseph will take this new position at Mercury General Corporation as of the start of next year. He was chosen to start with this newly created title on January 1, 2022, as an…

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What is Double-Dipping a Car Insurance Accident Claim?

What is Double Dipping a Car Insurance Accident Claim?

Some risks are healthy, and everyone should take them. For example, when you risk missing out on something popular so that you can achieve something better. Or if you take a chance at pouring your heart out to someone you love and not hear, “I love you too.” But some risks, like trying your hand at fraud so you can get rich quickly, are not worth it.  This article talks about a temptation many policyholders face – double-dipping car insurance accident claims. Although there are no official statistics to tell…

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CAA files lawsuit against insurance company for failure to cover pandemic losses

Insurance company - Lawsuit filed

This has become the most recent instance of a media and entertainment firm suing an insurer for this reason. CAA has filed a lawsuit against an insurance company in what has become the latest instance of a media and entertainment organization suing an insurer for denying payment on loss claims regarding pandemic shutdowns. The Creative Artists Agency filed a civil suit with the Los Angeles Superior Court. The Hollywood-based agency filed a civil lawsuit against an insurance company. The suit was filed in the Los Angeles Superior Court against Affiliated…

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Mississippi Senator Pushes for One Year National Flood Insurance Program Extension

National Flood Insurance Program - home floating on life saver

Sen. Cindy Hyde-Smith is seeking legislation to extend NFIP for another year beyond September 30. The National Flood Insurance Program (NFIP) is approaching its expiry date on September 30, but Mississippi Senator Cindy Hyde-Smith is pushing for legislation that will provide another year’s extension. Over five million American families and businesses rely on NFIP protection, many of which are in the state. More than 60 thousand people in Senator Hyde-Smith’s home state depend on National Flood Insurance Program coverage. The senator is one of the NFIP Extension Act of 2021…

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