Author: Nordstrom

German regulator mislead by Greensill on insurance deal, says IAG

Nordstrom
Insurance deal - Mislead - keyboard button

According to the accusation, the dupe was mean tot help reduce the unit’s capital requirements. One of Greensill Capital’s insurers has alleged that the failed lender duped German regulators regarding an insurance deal in an effort to try to shrink its Bremen-based unit’s capital requirements. Greensill investors are currently suing the Insurance Australia Group (IAG) as they face billions in losses. The investors have accused defunct Greensill supply-chain finance group of hiding that it did not have the insurance deal in place that they were led to believe. Instead, the…

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New active cyber insurance launched by Coalition in Australia

Nordstrom
Cyber Insurance - Australian Flag

Allianz Australia is providing the capacity for this new business solution for digital protection. Coalition, a company that defines itself as the first provider of Active Insurance in the world, has announced the launch of its new cyber insurance solutions in Australia. The solutions are composed of a suite of digital risk products that complement its prevention services. The cyber insurance product is more than simply a transfer of risk. It is differentiating itself by working with organizations so that they will better understand their own risk profiles. This will…

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What is the homeowners insurance 80/20 rule everyone is talking about?

Nordstrom
Homeowners insurance - What is the 80-20 rule

It seems that everyone agrees that this is a solid strategy, but what exactly is it referring to? Trying to purchase the ideal homeowners insurance coverage can easily feel overwhelming, as there is a great deal to take into account, and most people don’t have a tremendous amount of experience in all its intricacies. The coverage is meant to protect you financially against home damage, burglaries or liability. The 80/20 rule is a strategy meant to help simplify that process and ensure that the right amount of homeowners insurance coverage…

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Halloween safety tips you can really use this year

Nordstrom
Halloween safety - Trick or Treat Jack o lanterns

When it comes to this holiday, the key is to make sure the scary parts are all just make-believe. As the country gets ready to celebrate the spookiest time of the year, the American Property Casualty Insurance Association (APCIA) has shared a number of helpful Halloween safety tips to make sure everyone has fun without harm or property damage. The APCIA reminds drivers and property owners that a few simple steps can make all the difference. Just a few basic precautions for Halloween safety can help to prevent major accidents…

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Israeli airlines gets $6 billion war insurance coverage from Israel’s government

Nordstrom
War insurance - Israel Flag - Airplane

The country’s parliamentary finance committee has given the nod to covering the policy. The parliamentary finance committee of Israel has green lighted a strategy to offer a $6 billion state guarantee to cover war insurance against risks to Israeli airlines, said the country’s Finance Ministry. This plan will help to make certain that airlines in the country will have financial protection. The guarantee framework will make it possible for Israeli airlines to obtain war insurance policies against such risks. In this way, the goal is to keep up regular flights…

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Is the lack of flood insurance coverage the next coverage crisis for California?

Nordstrom
Flood insurance - Home on life preserver - California crisis

Thousands of homes may be at risk of flooding, but few are covered against this type of catastrophe. Though we tend to think of wildfires as the main risk to property owners in California, climate change and a majority of homes without flood insurance could create an entirely new crisis in coming years. Many predictions indicate that sea level is expected to rise in many areas of the country, including California. Places like the Bay Area are considered to be at particular risk of this future development. Thousands of families…

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$52 million in life insurance benefits recovered in Colorado

Nordstrom
Life insurance - Money

The state’s Consumer Services Team from the Division of Insurance recovered the money. The Colorado Department of Regulatory Agencies’ (DORA) Division of Insurance (DOI) has recovered a substantial amount of life insurance benefits money over the last few months. The DOI received three complaints since November 2022, leading to $4.5 million in found benefits. Beyond the money recovered from the investigation that occurred following the complaints, another $48 million in benefits have been found in Colorado from the Life Insurance Lost Policy Locator. The benefits recovered in November 2022 following…

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