Citizens Property Insurance intends to change policy language concerning water damage Florida’s Citizens Property Insurance is looking to make changes to the language in its homeowners insurance policies in order to mitigate the growth of claims associated with water damage. These claims are beginning to flow from South Florida, where many homeowners are beginning to experience water damage from various issues, ranging from rainfall to faulty plumbing. The changes that Citizens Property Insurance wants to make will adjust the way water damage claims are handled. Changes must be made in…
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Insurance industry shows favor for safe vehicles from foreign automakers
Insurance Institute for Highway Safety releases latest edition of its safety report The Insurance Institute for Highway Safety has released its latest safety report concerning vehicles the insurance industry deems to be the safest for drivers. How safe these vehicles are can have a major impact on auto insurance costs while also ensuring that consumers are protected against disasters. The Insurance Institute for Highway Safety has made it more difficult for automakers to win a top safety rating through the introduction of tougher safety criteria. Automakers must comply with stricter…
Read MoreSafety ranking for auto insurance sees better scores in vehicles made in Japan
Japanese automakers have taken the top spots for safety vehicles throughout the 2016 model year ranks. The Insurance Institute for Highway Safety (IIHS) has now revealed information that is extremely handy to consumers and auto insurance companies, alike, and has stated that there were 48 vehicles from the 2016 model year that earned the “Top Safety Pick Plus” highest possible rating. This is a considerable improvement over the figure from 2015, when only 33 vehicles received the top rating. The three automakers that earned the highest number of “Top Safety…
Read MoreBusiness insurance claims show clear patterns for losses by providers
According to recent data, some of the top causes of claims losses include power outages. A recent data analysis conducted by Allianz Global Corporate & Specialty has revealed that power failure were among the leading causes for interruption related loss claims on business insurance policies from 2010 through 2014, worldwide. In fact, power outages took tenth place when it came to losses from business interruption during that time. The Allianz Global Corporate & Specialty firm specializes in industrial and business risk coverage and its research involved an analysis of almost…
Read MoreConnecticut officials are warning consumers of health insurance scams
Insurance Department tells consumers to beware of phone scams The Connecticut Insurance Department is warning consumers to beware of phone scams from those claiming to represent health insurance organizations. These scams have become fairly common during the open enrollment season for insurance exchanges. During these times, many consumers are either looking for new policies or to renew their current health insurance policies that they acquired through exchanges. These consumers are being targeted by scams that seek to profit during the open enrollment period. Phone scams are seeking to exploit consumers…
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