Auto insurance fraud receives more attention from state agency

Nordstrom
auto insurance ride share

Insurance Department begins to increase its efforts to combat insurance fraud throughout California The California Department of Insurance has begun to focus more heavily on fighting auto insurance fraud in the Los Angeles area. The agency has been working to track down and eliminate fraud in this area for some time, but has only found modest success. Those participating in fraud have, thus far, managed to find ways to sidestep regulations and continue exploiting consumers and insurance companies alike. Recently, the agency has found more success in its fight against…

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Insurance fraud remains a costly issue for the insurance industry

S.Vagus
insurance industry fraud business mobile

Fraud continues to be a thorn in the side of the insurance industry Fraud remains one of the most costly issues that faces the insurance industry today. Insurers combat fraud in many ways, but are unable to stamp out its existence entirely. While fraud has a significant impact on the financial stability of the insurance industry every year, few consumers understand how fraud affects them. Many people believe that insurance fraud is only a problem that insurance companies have to deal with, but they may be losing money alongside their…

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College insurance protection now often extends to rape scandals

Julie Campbell
college dorm insurance students

Institutes of post secondary education are now purchasing coverage for new kinds of risk. As students return to their campuses, this fall, they may discover that college insurance policies are now taking an entirely new shape due to the shifts that are taking place in the culture of these communities. These schools are becoming increasingly aware of the risk that sexual attacks can have when they occur on campus. For that reason, these schools have taken a number of steps to change the way in which accusations of abuse are…

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Insurance news made as Coinbase takes out Bitcoin policy

H. Cutner
Bitcoin insurance industry news

The company has now purchased protection through Aon to cover digital currency from theft and loss. Coinbase, a provider of bitcoin merchant and wallet services, is now making insurance news as it has taken out a policy to be able to cover the digital currency against the threat of loss and theft. The company is seeking to use the insurance policy to protect itself against cyber attacks and hacks. According to a blog post from the company, “Coinbase is insured against theft and hacking in an amount that exceeds the…

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Software is making the insurance industry more efficient

Marc
Insurance news technology internet of things

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

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