Live Insurance News

Renters insurance customers can risk losing coverage

November 1, 2012October 29, 2012 Julie Campbell

Tenants who sublet their space may not be permitted in their policies. The growing number of people who are leasing apartments and are holding off buying homes has also increased the number of renters insurance policyholders that are risking their coverage by taking actions that are not allowed by the terms of their policies. Subletting is a common activity but is not one that is typically allowed in a policy. According to the statistics collected by a commercial real estate firm, Reis Inc., the average cost of rent in the…

Crop insurance payouts may break double the previous record

October 31, 2012October 29, 2012 Marc

Some estimates have claimed that the payments will be greater than $25 billion. After crunching the numbers for this year’s crop insurance payments, it looks as though this coverage – which has been vital to farmers this year due to the widespread droughts and floods – it looks as though the payouts will be greater than $25 billion. This will be over twice the $10.8 billion record high that was set in 2011. This year, over 80 percent of the corn fields had crop insurance coverage. Clearly, this was significantly…

Cell phone insurance claims are proving to be quite unique

October 29, 2012April 30, 2013

Mobile devices are finding themselves in some odd and often funny circumstances. The decision as to whether or not to purchase cell phone insurance is becoming a regular thing, and one with which many consumers struggle because it isn’t necessarily a cheap form of coverage. But as past claims have shown, it is very common for smartphones to stop functioning before their time. Though cell phone insurance may not be the cheapest one out there, claim records from various insurers that offer the product have shown that mobiles can find…

Insurance news from Fifa includes required coverage for goal-line technology

October 26, 2012April 30, 2013

Companies may proceed with the installations provided they purchase coverage. Fifa has made insurance news when it announced that goal-line technology companies may proceed with their installations provided that they purchase insurance coverage in case leagues or clubs take legal action alleging that the systems are not functioning properly or that they are inaccurate. Licenses have been given to both GoalRef and Hawk-Eye by Fifa. Those two companies have made their own insurance news by being the first to receive Fifa’s authorization for worldwide installation of their systems as long…

Insurance news from India halts Iranian oil shipments

October 25, 2012October 25, 2012 Julie Campbell

Chennai Petroleum has announced that it will no longer be processing crude from Iran. An insurance news announcement from Chennai Petroleum in India has stated that the company will no longer continue with its processing of crude from Iran after its coverage for the oil supplies was lost. Industry sources say that an Iranian firm owns a stake of Chennai Petroleum, reducing imports from other nations. Every day, the plants at Chennai Petroleum will refine 230,000 barrels of crude. This makes up approximately 5.4 percent of the entire refining capacity…