Tag: California Insurance

Drones may be coming to the insurance industry

Marc
Insurance industry standards and technology

California insurer wants to use drones to expedite the claims process after natural disasters An insurance company operating in California wants to use unmanned aircraft to speed up the claims process associated with natural disasters. In the wake of a natural disasters, such as a major flood or earthquake, insurers often deploy claims adjusters to help policyholders file claims. This can be a time consuming process, depending on the severity of the disaster, and the longer the claims process takes, the more money an insurer is spending on the matter.…

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Auto insurance bill for ridesharing companies signed in California

G. Turner
carpool

This new legislation is designed to close the coverage gaps for drivers in this type of program. Governor Jerry Brown has now signed a controversial bill that is meant to provide a compromise and close the auto insurance gaps while at the same time calling for increased oversight of the rapidly growing industry of ridesharing companies and programs in California. Uber, the largest rideshare company in the industry, simultaneously announced plans for large scale hiring. The announcement made by Uber stated that the hiring would place a focus on bringing…

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Earthquake Insurance Affordability Act may become higher priority

Julie Campbell
earthquake

A couple of California Senators have issued a letter calling for a hearing on the law following the recent quake. In response to the quake that shook the Napa Valley near the end of last month, which has recently caused President Obama to declare the situation to be a major disaster, two senators are now calling for a hearing that will focus on the Earthquake Insurance Affordability Act. The two senators that issued the news release are Dianne Feinstein (D-CA) and Senator Barbara Boxer (D-CA). The two senators are hoping…

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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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Earthquake insurance is too expensive to be worth the risk in California

Julie Campbell
oklahoma earthquake insurance industry

For many people in the state, the premiums are higher than the perception of the threat. Just over a week ago, the Napa Valley of California was shaken by a 6.0 magnitude tremor that led to surprising amounts of damage, particularly in terms of broken bottles of alcohol, but at the same time, on the whole, homeowners and business owners still feel that earthquake insurance is too expensive to be worthwhile. Even some of the companies most affected were not convinced that insurance coverage would be worth the price. Despite…

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