Business owners insurance is an entrepreneur’s best friend

Business Owners Insurance - Open sign on shop door

This coverage is ideal for most small and medium sized companies and can be easily bundled. Business owners insurance is a combination of different policies that cover small and medium sized companies. Carriers create these bundles to provide just the type of protection businesses of this size require, as large corporations require coverage with far greater complexity and customization. Also known as business owners policy (BOP), it is multiple coverages in a single package. Business owners insurance usually contains the following types of coverage, all contained within a single bundled…

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Embroker announces new chief insurance officer hire

Chief insurance officer - business - job

The insuretech has announced expansion to its C-suite with a new tech chief as well. Embroker, a digital business insurance platform known for simplifying the business coverage process, has announced the hiring of a new chief insurance officer and chief technology officer. This broadens its C-level management for the purpose of driving the platform forward. The new execs bring vital expertise and experience to the company as it shakes up the industry. The new chief insurance officer is taking on an insuretech providing all business insurance online. It covers startups…

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Allstate’s attempt to overturn jury verdict for underinsured driver benefits denied

Allstate Insurance News

The Supreme Court of Texas has turned down the insurer’s attempt to overturn the verdict. Allstate Insurance’s efforts to overturn a jury verdict having to do with underinsured driver benefits have been denied by the Supreme Court of Texas. The high court upheld the jury verdict in a 5-4 decision regarding a 2016 claim. The Supreme Court decision upheld the $95,000 jury verdict from the Bexar County court in favor of Daniel Wes Irwin. That verdict required Allstate to pay Irwin the full sum of $50,000 underinsured driver benefits from…

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Will the American Rescue Plan Make California Health insurance affordable?

California health insurance - US health money

Covered California is urging state residents to take a second look at prices, as many have fallen. The California health insurance exchange is asking uninsured state residents to take a second look at what is available to them, as the new American Rescue Plan has reduced the price of some options. The federal law could make it notably cheaper to purchase a health plan on Covered California. According to a new report by Californiahealthline.org, the American Rescue Plan (ARP) has the potential to bring California health insurance into the hands…

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State Farm uses digital tools to deliver faster insurance payouts on claims

Insurance payouts - computer and dollar bills

The insurer has used a solution enabled by Fiserv to make the process possible. State Farm has rolled out a new digital solution for making insurance payouts on claims for its fire and auto customers. The digital payments solution uses technology from Fiserv, Inc. a leading global payments and financial services technology solutions provider. Using the Digital Pay option, customers are provided with improved flexibility after a claim. The Digital Pay service lets consumers choose a faster way to receive their insurance payouts on auto and fire claims. Many consumers…

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Chubb insurance company withdraws takeover pursuit of The Hartford

Insurance company - Hartford Connecticut Skyline

The insurer has announced that it will no longer seek to acquire the financial services group. Insurance company giant Chubb Ltd. recently announced that it has dropped its pursuit of acquiring The Hartford Financial Services Group. This decision has concluded two turbulent months of offers and rejections between the firms. Over the last couple of months, the Chubb insurance company made three takeover offers to The Hartford Financial Services Group, each of which was turned down. The end of the insurer’s acquisition attempts also means that the city of Hartford…

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Oregon wildfire insurance may continue through Lloyd’s of London

Oregon Wildfire Insurance - Forest Fire in Portland, Oregon

As the risk of another fire season approaches, the state will rely on its unique policy again in 2021. As the state’s traditional fire season approaches, Oregon wildfire insurance will be provided by the unique $25 million policy through Lloyd’s of London. The oldest insurance marketplace in the world has been providing this coverage since 1973. The state Department of Forestry has purchased the Oregon wildfire insurance against losses for nearly fifty years. This is a unique coverage as no other state has coverage against wildfires. “It’s a catastrophic firefighting…

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