No growth in pet health insurance claims for respiratory issues

Pet health insurance - Dog and Cat

Trupanion has been monitoring the nature of claims for cats and dogs through the pandemic. Trupanion, the pet health insurance company based in Seattle, has stated that it is monitoring the types of claims it is receiving. As of yet, it has not noticed an increase in claims relating to respiratory issues in cats and dogs. The insurer has been watching for changes in claims of that nature since the start of the pandemic. Back in March, the company released a statement that there were “no unusual increases or changes…

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Chubb CEO calls COVID-19 coronavirus biggest event in insurance industry history

Evan Greenberg cautioned that the pandemic’s impact will cause insurers to face their largest challenges. Chubb Ltd Chief Executive Officer Evan Greenberg released a statement warning that the coronavirus will be the largest event in insurance industry history. The insurance company recorded $13 million in losses linked to COVID-19 during the Q1 2020. Greenberg stated that “this event will be the largest event,” in insurance industry history, on an earnings call in which he shared Chubb’s first quarter results for 2020. The CEO pointed to both the direct impact of…

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Covered California enrollment nearly triples compared to last year

Covered California Enrollment

The state-sponsored health plan sign-ups have sharply spiked over the last three weeks. Covered California enrollment has spiked sharply as more than 58,000 state residents have signed up over the last three weeks. This represents a rise of almost three times the number of people enrolled when compared to the same time in 2019. Officials gave state residents an extension on the sign-up period to help with coverage in the outbreak. The Covered California enrollment period was extended from January to June. The purpose was to make it possible for…

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Business insurance policyholders covered by Farmers to receive added relief

Business insurance policyholders - server in empty restaurant

The insurer said it would be offering added relief to 115,000 customers in certain sectors. Farmers has announced its intention to provide relief to over 115,000 of its business insurance policyholders. The insurer is using its Farmers Cares initiative to provide added support to customers facing struggles from COVID-19. The Farmers Cares initiative is focused on business insurance policyholders in the office, retail, restaurant and service sectors. Those are among the areas most powerfully hit by the COVID-19 outbreak. To boost relief to those companies, the insurer will be providing…

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Arkansas places moratorium on tornado insurance policies to protect homeowners

Tornado insurance policies - Tornado - Storm

The 60-day moratorium stops insurers from being able to cancel coverage to residents affected by Saturday’s twister. The Arkansas Insurance Department has issued a 60-day moratorium on the cancellation of tornado insurance policies. This move was made following the Jonesboro tornado that ripped through homes, a mall and other buildings. This is meant to stop insurers from cancelling coverage of affected Craighead County residents. Residents affected by the Jonesboro twister cannot have their tornado insurance policies cancelled due to non-payment for another 60 days. That said, it is only affected…

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CFCEF petitions California auto insurance companies to lower rates or issue refunds

California auto insurance companies - Truck on road in California

Non-profit consumer advocate, Consumer Federation of California Education Foundation launched the action. The Consumer Federation of California Education Foundation (CFCEF) has petition the state insurance commissioner to require California auto insurance companies to reduce their rates, issue credits, or issue refunds. The CFCEF says that insurers in the state have been making massive profits at the expense of drivers. The CFCEF’s petition accused California auto insurance companies of “making windfall profits” as a result of the stay-at-home requirements in the state. Those orders were made on March 19, keeping millions…

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Lighthouse Property to acquire Prepared Insurance of Florida

Prepared Insurance of Florida - home insurance

The acquisition remains subject to official regulatory review as well as approval before it is finalized. Prepared Insurance of Florida, a domiciled P & C carrier in that state and Louisiana is to be acquired by Lighthouse Property Insurance Co. of Louisiana. This move doesn’t come as a surprise as efforts have been made for the acquisition since 2017. Lighthouse is authorized to write coverage in Louisiana as well as North Carolina, South Carolina and Texas. Prepared Insurance of Florida is authorized for writing in Florida as well Louisiana. The…

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