Live Insurance News

Business insurance claims denied to vendors at hugely popular farmer’s market

September 17, 2013September 14, 2013 Julie Campbell

st jacob farmers market fire business insurance

Some of the sellers at the St. Jacob’s Farmers’ Market which was destroyed by a fire will not receive a payment. The start of September brought devastation to a farmer’s market so unique that every year, it brings in crowds from around the world, but business insurance couldn’t save some vendor from the losses that were incurred from a massive fire that destroyed the main building. Early on Labor Day morning, flame engulfed the sprawling two-story building, leaving only rubble behind. Now, several St. Jacobs Farmers’ Market vendors are being…

Berkshire Hathaway makes a move on business insurance

June 13, 2013June 12, 2013 Logan B.

Berkshire Hathaway to muscle into business insurance sector Berkshire Hathaway is making a strong move into the business insurance sector in order to have a greater impact on how this sector operates. The company has been looking to enter into new sectors of the global insurance industry lately in order to take advantage of new opportunities that exist in developing markets around the world. In the past, the company has pushed into the business insurance sector due to certain trends, but this time is different for Berkshire Hathaway. Company cites…

Property and casualty insurance rates increased by 5 percent last month

May 11, 2013May 25, 2013 G. Turner

Property insurance News commercial P&C insurance

According to MarketScout data, the prices rose in April for policyholders of commercial products. According to a report from MarketScout, the rates for commercial property and casualty insurance rose by an average of 5 percent in April 2013, when compared to the rates that were being charged a year before. It was workers compensation and commercial property that saw the largest increases over a year. The commercial property and casualty insurance and workers compensation saw a combined average rate increase of 6 percent. Surety and employment liability coverage each increased…

Insurance news features highlight on water damage scams in 2012

December 24, 2012April 30, 2013

Insurers are cautioning consumers to take care in the way they deal with their cases. Due to recent insurance news that has included a massive increase in the number of water damage scams throughout this year, insurers are now warning their customers to take care to contact their homeowners or business insurers immediately to make sure that all procedures are followed correctly and they can obtain the proper assistance. In some states, such as Florida, approximately half of all claims have to do with water damage. The problem is that…

SAS is a rising star for the insurance industry

December 7, 2012December 6, 2012 Dan

SAS gaining popularity for innovative anti-fraud, security, and business analytics solutions SAS, a leader in business analytics software and services, is becoming a very popular name in the realm of fraud in the insurance industry. The global insurance industry continues to struggle with fraudulent activities throughout numerous sectors, many of which have adverse effects on honest customers. SAS has become a leader in anti-fraud and security software and have been working to combat fraud in an aggressive manner. The firm has begun expanding its Security Intelligence initiative by establishing a…