Category: Latest Insurance News Articles

The latest headlines, on all lines of insurance, will be updated and listed here.

State Farm boosts working flexibility for insurance employees

G. Turner
Insurance employees - Person working from home

The company has just announced new ways for its workers to do their jobs both in the office and at home. State Farm has announced that it is adding greater flexibility for its insurance employees by introducing new hybrid roles. These will make it possible for workers to spend some of their time doing their jobs at the office and the rest of their tasks can be completed from home. The new approach is meant to improve efficiency within current and future insurance jobs. This new strategy for more flexibility…

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State Farm fire insurance customers protected by Wildfire Defense Systems

H. Cutner
State Farm fire insurance - wildfire near home in California

The insurer has contracted the private wildland firefighting firm to protect covered homes in California. Californian homeowners with State Farm fire insurance coverage will now be protected by private wildland firefighting services from Wildfire Defense Systems. This is positive California insurance news for policyholders in a state increasingly affected by season-long wildfires. This means that private firefighting crews may be dispatched to protect covered homes in the state. According to a Mercury News report, as of April 1 citing a letter from the insurer, Wildfire Defense Systems has been contracted…

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Credit score ban for insurance premium calculation leads to massive lawsuit

Marc
Insurance premium calculation - law - gavel

American Property Casualty Insurance Association has filed a suit against the Washington regulator. The American Property Casualty Insurance Association (APCIA) has filed a lawsuit against the regulator in Washington state over the ban against using credit scores for insurance premium calculation. Commissioner Mike Kreidler issued an administrative ban against using that factor for underwriting policies. The office of Commissioner Mike Kreidler defended its ban against using credit scores for insurance premium calculation. It released a statement calling the practice “inherently unfair” and that the ban protects customers. The commissioner has…

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State Farm receives FAA green light for use of insurance drones over roads

H. Cutner
Insurance drones - drone flying over road

The insurer has been operating the vehicles for claims purposes with FAA approval since 2019. State Farm’s official newsroom published a release stating that while it has been flying insurance drones with FAA approval since 2019, it has now been granted permission to do so over active streets and roads. The insurer received this approval based on Virginia Tech testing, for use to gather claims information. State Farm has been using insurance drones for various types of safety and business application testing since 2015. In May 2018, the insurer joined…

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Allstate shifts focus toward digital insurance while streamlining its business

G. Turner
Digital insurance - person using computer

The giant is setting itself up for growth on acquisitions, divestitures and technology investments. The Allstate Corporation is aligning itself with a growth plan based on business streamlining, which will include digital insurance technology investments, acquisitions, divestitures, and other initiatives for long-term growth. The nationwide insurer has experienced revenue increases every year – including last year – since 2011. Last year, Allstate still grew its revenue by 0.3 percent. The company’s efforts to remain in positive growth last year was an impressive one when considering the difficult circumstances that it…

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How Do You Qualify for USAA Insurance?

Guest Author
who qualifies for usaa insurance

USAA is one of the best-rated and most affordable car insurance companies in the United States. However, membership is restricted. You qualify for USAA insurance if you are an active duty or retired member of the United States military. You may also qualify if an immediate family member – like a spouse or parent – is an active USAA member. How do you qualify for USAA insurance? Do you meet USAA’s eligibility requirements? Keep reading to discover everything you need to know about USAA insurance requirements. Who Qualifies for USAA?…

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Cyber insurance coverage critical as Homeland Secretary warns over ransomware

Marc
Cyber insurance coverage - cyber security

DHS Secretary Alejandro Mayorkas said coping with ransomware will become a top priority. Cyber insurance coverage importance has never been clearer than it became when Department of Homeland Security (DHS) Secretary Alejandro Mayorkas warned that dealing with ransomware will become a top priority. This has only underscored the rising threat of cyberattacks and the data-scrambling malicious software. Ransomware is a type of malicious software that locks an individual, company, organization or government out of its files and networks until a payment is made. This type of attack has been rapidly…

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