Owners of pit bulls, among others, say that they have experienced bias when they seek policies. Ohio has had a regulation in place for about three years that has stated that the owners of all breeds of dog must be treated equally, but this has created a certain degree of controversy when it comes to homeowners insurance policies. Some dog owners have said that the breed of their pets have placed a sizeable barrier in their way. Among those challenges, homeowners insurance has been at the top of the list.…
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The latest headlines, on all lines of insurance, will be updated and listed here.
Cyber insurance market is showing signs of healthy growth
Lloyd’s of London notes that more activity is being seen in the cyber insurance market Several high-profile cyber attacks on large companies have spurred more activity in the cyber insurance market, according to reports from Lloyd’s of London. The insurance company notes that claims in the cyber market have rose by 50% for the first three months of this year. More companies are becoming concerned with the digital risks that they face. These risks could result in serious financial damage, which insurance coverage may be able to mitigate, if policies…
Read MoreState-run health insurance exchanges struggle to find enrollees
Enrollment in state-run exchange is going down, study shows A new study from Avalere Health and the Kaiser Family Foundation shows that enrollment in state-run health insurance exchanges is lackluster. Several states opted to operate their own health insurance exchanges, which gave them more control over their respective insurance markets, but others decided to allow the federal government to build and manage these exchanges. The study shows that enrollment in state-run exchanges has been falling, while enrollment in federal exchanges has managed to increase. Study highlights a 12% decrease in…
Read MoreDeceptive travel insurance practices scrutinized by California and Florida
The two states have released statements with regards to sketchy opt-out rules from some companies. California and Florida have both now issued their own statements with regards to certain selling practices that have been adopted with regards to travel insurance and the opt-out methods that are used extremely regularly. The states feel that these methods of selling the travel coverage are deceptive and are hoping to promote change. The first statement was issued by Florida in February, when the state’s Office of Insurance Regulation produced an informal memorandum. Within it,…
Read MoreFlood insurance may be in jeopardy in Oklahoma
New legislations could make flood insurance inaccessible in the state Flood insurance may become more difficult to obtain for homeowners in Oklahoma if new legislations take effect. The Oklahoma Floodplain Managers Association has warned state lawmakers that new legislations that are making their way through both the Senate and the House of Representatives could mean that the state can no longer participate in the National Flood Insurance Program. The federal program is typically the only place that homeowners throughout the country can find flood insurance protection. Legislations seek to prohibit…
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