Live Insurance News

Senator calls for changes to National Flood Insurance Program

May 26, 2015May 23, 2015 Logan B.

Flood insurance may need more reform in the future United States Senator Charles Schumer believes that major changes must be made to the National Flood Insurance Program. The federal program is typically the only place that homeowners can find flood protection, but this coverage is provided by private companies that work with the program. These companies have fallen under harsh criticism in recent years due to their handling of claims related to Hurricane Sandy and other disasters that have produced claims. Senator Schumer calls for changes to be made to…

Hurricane insurance tips offered to Texas homeowners

May 25, 2015May 23, 2015 Julie Campbell

The season for these massive tropical storm reaches its official start on June 1, so preparations should be underway. As the official summer storm season gets going on June 1, hurricane insurance tips are now being issued to homeowners in Texas in order to help them to ensure that they have the coverage that they need and that they will be properly prepared to protect themselves and their families. The Insurance Department has issued a checklist to make sure that appropriate coverage is in place. On the checklist, some of…

Insurance coverage lacking among motorcycles in India

May 25, 2015May 23, 2015 G. Turner

scooter two wheeler auto insurance coverage

Accidents involving any of 75 percent of riders provide no compensation to the victims. Two wheelers – including both motorcycles and scooters – are a very common vehicle in India, but recently released statistics have revealed that almost 75 percent of those riders are operating their vehicles without any type of insurance coverage, which is placing other road users at risk. This is particularly risky for other two-wheelers, cyclists, and pedestrians who don’t have protection. This data has been released by the Insurance Regulatory Development Authority (IRDA). This lack of…

Health insurance company hit by data breach

May 25, 2015May 23, 2015 S.Vagus

emergency health insurance policies medical technology

CareFirst has fallen victim to a significant data breach CareFirst BlueCross BlueShield has taken note of the rise in cyber crimes that are targeting health insurance companies and had been taking steps to upgrade its security. The company had hoped to avoid falling victim to digital attacks by improving its cyber security, but while doing so found that it had already been the target of a major data breach, which began in June 2014. The data breach represents a significant problem that health insurance companies are having, as it shows…

Workers compensation could be headed along a bumpy road

May 22, 2015May 20, 2015 Julie Campbell

Many industry experts are now expecting that there could be some turbulence in the future of this coverage. Even though financial indicators have been suggesting improvements, the president and CEO of the National Council on Compensation Insurance Inc. (NCCI) has stated that the workers compensation industry should be getting ready for some “difficult times” as the workplace and workforce ecosystem undergoes a considerable evolution. President and CEO of the NCCI, Steve Klingel, recently spoke at the 2015 Issues Symposium. The NCCI is a workers compensation ratings and research organization. At…