New York state pushes insurance companies to provide faster storm claim response

Insurance companies - Home Insurance Claim

The remnants of Hurricane Ida brought record-breaking rain, flooding large parts of NYC. Insurance companies are braced for a massive wave of claims in New York following record-breaking rains left behind by the remnants of Hurricane Ida. State officials are calling for insurers to step up their processing, to help flood victims to recover more quickly from the damage they suffered. Large areas of New York City were submerged by the massive rainfall that came on fast. The New York State Department of Financial Services, which regulates insurance companies in…

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Allstate and USAA to provide insurance coverage for additional Ida expenses in Louisiana

Insurance coverage - Hurricane Evacuation Route

The two large insurers have responded to a call made by President Joe Biden for living costs. Allstate and USAA have responded to President Joe Biden’s call to insurers to provide additional insurance coverage in Louisiana for policyholders in the state affected by Hurricane Ida. The additional assistance is meant to help customers evacuated from their homes without specific orders. The insurance coverage is being extended to Louisiana residents who were evacuated from their homes ahead of the storm without being under specific mandatory evacuation orders. President Biden called for…

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California Supreme Court rules life insurance stoppage requires proper notice

Life Insurance Stoppage ruling California

This decision would restore policy premium payments to thousands of people across the state. The California Supreme Court has ruled that a life insurance grace period and other protections must be provided to consumers in the state before insurers are allowed to cut off coverage due to a missed payment. The ruling could restore life insurance payments to affected customers dating back to 2013. In 2013, the state governor at the time, Jerry Brown, signed a law that had passed without any opposition, ending the previous authority that life insurance…

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California Insurance Commissioner Ricardo Lara issues notices to insurers over wildfires

California insurance commissioner - Notice Insurance

Insurers have been advised to cease their cancellations and non-renewals in wildfire affected communities. California Insurance Commissioner Ricardo Lara has issued notices to homeowners’ insurance companies regarding the cessation of cancellations and non-renewals in communities suffering wildfire emergencies. Lara’s notices have advised insurers to stop such behaviors or risk violating Californian law. The notices from the California Insurance Commissioner have to do with homeowners and renters’ policies in communities located near the state’s many major wildfires. Those communities will be identified by state Governor Gavin Newsom in emergency declarations. According…

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Here’s Why Your Carrier Needs to Adopt a Greenfield Approach Today

Here's Why Your Carrier Needs to Adopt a Greenfield Approach Today

Over the past decade, insurance companies have begun modernizing their core systems and digital capabilities in response to the growing demand for services delivered over the internet. With more customers looking for convenient online options to purchase policies, make claims, and pay insurance bills, insurance carriers must accelerate their digital transformation initiatives. This move enables carriers to deliver life insurance innovation solutions that effectively cater to modern customers’ needs.  To successfully implement a digital-first strategy, insurance companies must adopt a greenfield software development approach. The greenfield approach is the process…

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Top JD Power P&C insurance digital experience award goes to Mercury

P&C Insurance - Award

The insurer ranked at the top of the category for overall customer satisfaction in this shopping segment. JD Power has released the results of its 2021 US Digital Experience Study, within which it named Mercury Insurance the top option among P&C insurance companies for overall satisfaction in digital shopping. This represents the first time Mercury has been the recipient of one of the JD Power awards. The JD Power 2021 US Digital Experience Study is an examination of the digital consumer experience among shoppers obtaining quotes for P&C insurance, as…

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Insurance companies have teams ready for Hurricane Ida response

Insurance companies - hurricane damage

Home and auto insurers are confirming their availability for customers who need to reach them. Insurance companies always recommend that anyone affected by major events contact their insurers sooner rather than later. This is the case in the aftermath of Hurricane Ida as news releases remind policyholders of what they need to do to file a claim. GEICO has announced that its Response Team is in place and prepared to assist customers. This year, like last year, insurance companies face the additional challenge of helping their customers while preventing the…

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