Allstate spikes Illinois homeowners insurance rates for almost 200K policyholders

Illinois Homeowners Insurance Rates - neighborhood of houses

The second largest home insurer in the state is raising rates by 8 percent in early 2020. Allstate will be increasing its Illinois homeowners insurance rates by the largest amount the state has seen in several years. By early next year, policyholders will be paying an average of 8 percent more for their coverage than they are this year. The Illinois Department of Insurance announced the rate hike in a filing they issued on Halloween. Allstate is the second largest home insurance provider in the state. It has just about…

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State of California takes over control of former Berkshire insurance unit

Berkshire Insurance Unit - Warren Buffett of Berkshire Hathaway

The Department of Insurance said that it never gave its approval to the sale of the company. The California Department of Insurance have seized a former Berkshire insurance unit. The regulators claim that the sale of California Insurance Co. was in violation of state regulations. This is the latest step in the ongoing controversy regarding the sale of the unit. Earlier this week, the California Department of Insurance said that it had not given its approval to the sale of the Berkshire insurance unit with Applied Underwriters, a workers’ compensation…

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Innovation Group Unveils IG Gateway, A Mobile, Unified Cloud Platform for Property & Auto Claims Coordination

innovation group auto and property claims

LAS VEGAS – SEMA Show, Nov. 5, 2019 – Innovation Group, an international insurance claims administrator for auto, property, body shops, fleet and leasing operators with 1,200 global clients, today announced official release of its cloud-based, integrated and scalable mobile claims management application that enables  all parties to track/manage claims processing from FNOL to settlement.   A digital hub for all stakeholders in the claims process, the Innovation Group platform brings complete transparency to the claims process and is accessible by adjusters, contractors, body shops and fleet operators, policyholders and…

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Allstate Q3 2019 earnings and revenue beat out predictions

Allstate Q3 2019 - revenue, profit

The insurance giant has announced its figures for the quarter and they are notably higher than estimates. The Allstate Q3 2019 numbers are in and the figures are far more favorable than had been widely anticipated for the insurer. The earnings and revenues were significantly better than predicted. Analysts had been predicting favorable third quarter results, but the insurer managed to do better. According to the insurer’s reports, the Allstate Q3 2019 earnings were $2.84 per share. This topped virtually all estimates, including the Zacks Consensus Estimate, which had been…

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Washington gun insurance company fined $100,000 illegal policy sales

Gun insurance company - Money and gun

The state insurance commissioner fined the insurer and barred it from policy sales in the state. Washington state insurance commissioner Mike Kreidler’s office has fined a gun insurance company more than $100,000 for selling illegal policies. The insurer has also been stripped of its license to sell any coverage in the state. The insurer had been selling policies to gun owners in order to cover them for them for criminal activity. The United States Concealed Carry Association, Inc. is a gun insurance company. It was selling policies that would provide…

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Cyber crime rates soar as 43 percent of Americans have already been victims

Cyber Crime Rates - Cyber Security

Nearly half of all people in the United States have been affected by cybercriminal activities so far. A new report based on a survey by ValuePenguin revealed that almost half – 43 percent – of Americans have been a victim of some kind of digital invasion, as cyber crime rates skyrocket. Though financial loss is a risk, consumers are also afraid of the misuse of their personal information. Almost half of all victims of cyber crimes are impacted by financial losses in some way. That said, the cyber crime rates…

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Nationwide Insurance prepares to name the Hambone Award 2019 winner

Hambone Award 2019 - dog in veterinary clinic

The insurer holds this event every year and has asked the public to vote on the weirdest pet related claim. Nationwide is holding its Hambone Award 2019 event and has asked the public to vote on the top strange pet insurance claim of the year. The insurer’s award is an annual event that honours the pet with the weirdest insurance claim. The Hambone Award 2019 already has its finalists, but the winner has yet to be named. The award started in 2009. It was named after the first winner, which…

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