Live Insurance News

31% spike in insurance claims from VR headsets in 2021

February 18, 2022February 22, 2022 Logan B.

Virtual Reality technology - Insurance Claims

As virtual reality gadgets become increasingly popular, so are smashed TV screens. An increase in the use of VR headsets caused homeowners insurance claims linked to their use to skyrocket by 31 percent in 2021. The most common reason people filed with their insurers was due to cracked television screens. Virtual reality headsets have been growing in popularity in recent years, with a particular spike happening last December when they became hot gifts during the holidays. Christmas day 2021 broke records for downloads of apps relating to the gadgets. As…

RBC Insurance is selling its home and auto business to Aviva Canada

January 26, 2016January 26, 2016 Julie Campbell

This will bring about the shift in employment of about 575 employees from one company to the next. The RBC Insurance company in Canada has announced that it will be selling both its home and auto businesses to Aviva, in a massive move that will require some employees to move to the new insurer while others remain with the Royal Bank of Canada. It has been estimated that 575 people will be swapping insurance companies while the remainder will stay put. Initial reports have stated that RBC Insurance will be…

Auto insurance fraud suffers a blow in the United Kingdom

December 31, 2015December 29, 2015 Marc

UK Ministry of Justice puts an end to compensation for minor whiplash injuries The United Kingdom government is working to combat auto insurance fraud and the Ministry of Justice is putting an end to compensation for minor whiplash injuries caused by car accidents. Instead of receiving compensation from their auto insurance providers, their rehabilitation will be paid for, which the government expected will save consumers an estimated $1 billion a year in insurance costs. Moreover, cutting down of fraudulent claims may lead to a decrease in auto insurance premiums. Changes…

Life insurance product from Barclays classed as “simple”

August 22, 2014August 20, 2014 Nordstrom

Life insurance policy is the first of its kind to be designated as a “simple” product A new life insurance policy being sold by Barclays and underwritten by Aviva has become the first product of its kind to be classified as “simple” by the British Standards Institution. Last year, the Bank of England issued a report regarding the need for simplistic products within the financial services sector. Typically, many insurance products are difficult to understand because of their complex nature. This can make it difficult for people to find the…

European insurance industry sees major promise in the east

March 20, 2013April 30, 2013

European insurance industry sets sights on China Many sectors in the global insurance industry have been experiencing exceptional growth in recent years. For European insurance giants, Asia is becoming the most attractive market in the world. Prudential, the largest insurer in Europe, claims that the best investments that the insurance industry can make are in Asia. Prudential CEO Tidjane Thiam notes that China, in particular, is home to the fastest growing sector of the insurance industry, making the country very attractive to investors despite some of the restrictions imposed on…