Insurance industry could be massively impacted by large space weather event

Julie Campbell
insurance industry electrical network disruption space weather event

Lloyd’s of London has released a report cautioning that a massive electricity network interruption could occur. According to a new report from Lloyd’s of London, the insurance industry in North America could be highly affected by a severe space weather event, as it could lead to a massive electricity network disruption throughout the continent. The report was called “Solar Storm Risk to the North American Electric Grid” and was released as a caution. It expressed that the insurance industry could find between 20 to 40 million Americans at risk of…

Read More

Insurance news looks good for the industry’s profitability

H. Cutner
Insurance News Profits

India’s insurers have fared quite well over the last quarter, even in the case of life products. The latest insurance news that has been released from India has shown that the industry has done better than expected in terms of its profitability, including the life sector, which had been experiencing a slowdown in its collection of new business premiums. The industry has been struggling under the widespread economic challenges and low penetration in the country. However, the most recent insurance news appears to be showing that the industry in the…

Read More

Tropical Storm Andrea to Make Landfall in Northern Florida

Guest Author
Tropical Storm Andrea as of June 7

According to catastrophe modeling firm AIR Worldwide, as of the National Hurricane Center’s 11:00 a.m. advisory, Tropical Storm Andrea is moving northeastward at a speed of 15 mph with maximum sustained winds of 60 mph and some stronger gusts. Tropical storm winds extend outward 140 miles but primarily to the east of the storm’s center. The storm is expected to accelerate and continue on a northeast path later today, making landfall in Florida’s Big Bend. Andrea is not expected to intensify further before making landfall and if forecasts hold AIR…

Read More

Health insurance research shows Americans remain uncertain as deadline approaches

G. Turner
Health Insurance policies

A new phone survey has indicated that the majority of adults in the U.S. are undecided about their future coverage. According to one of the latest studies conducted by Princeton Survey Research Associates International, the majority of Americans haven’t yet decided whether they will be purchasing health insurance in order to comply with the Affordable Care Act’s individual mandate, or whether they would prefer to pay a penalty. The poll also indicated that in May, there remained a considerable amount of confusion about individual requirements. The team at Princeton Survey…

Read More

Usage based insurance pilot program being tested on motorcycles

Julie Campbell
usage based insurance dashboard

The test will be performed by SGI, which makes it among the first in the world to use telematics on these vehicles. SGI (Saskatchewan Government Insurance) has announced its proposal to begin a program that will apply usage based insurance technology to policies that cover motorcycles, joining the very first in the world to take this step. Only a small handful of other companies across the globe have intentions to test telematics for motorcycles. Usage based insurance technology functions by installing a small device into a vehicle in order to…

Read More