Live Insurance News

Terrorism insurance policies sought by Pakistani corporations

May 2, 2014April 30, 2014 H. Cutner

Some strategic moves have been made within the country in order to help to mitigate the terror risk. The chief regulator in Pakistan has been trying to encourage the Pakistan Reinsurance Company Ltd. to write terrorism insurance policies for businesses within the country, in order to protect them against the damage and the liabilities from that kind of attack. So far, the reinsurer has expressed no discernible interest in providing that type of coverage. That firm has managed to completely sidestep the efforts of the chief regulator that would have…

Mortgage insurance risk advice offered by Canadian watchdog

April 18, 2014April 15, 2014 H. Cutner

The financial regulator in Canada has come up with a guideline draft for mitigating insurers risks. Canada’s financial regulator has now come up with a draft for certain mortgage insurance company guidelines that could help to decrease the risk that is currently present within the housing market. Analysts have cautioned that it could make it slightly harder for borrowers to obtain a home loan. The guidelines were created by the Office of the Superintendent of Financial Institutions (OSFI), and they would apply to that country’s three major mortgage insurance companies:…

Insurance industry seeks climate change support

April 14, 2014April 12, 2014 Julie Campbell

Climate Change homeowners insurance industry

After a year of record droughts followed by a year of record flooding, cooperation could be key. In the aftermath of the flooding that was experienced last year throughout many regions of the United States and Canada, the insurance industry found itself facing what could only be defined as a public relations nightmare. Residents of these hard hit zones have faced huge rebuilding costs and banks found themselves in binds. Banks in the areas that were struck by the most flooding, last year, found themselves holding mortgages for properties that…

Insurance marketing investigation leads to lawsuit from AIG

April 8, 2014April 12, 2014 G. Turner

The insurer has now sued the top financial regulator in New York to block a fine. American International Group Inc. (AIG) has filed a lawsuit against Benjamin Lawsky, the top financial regulator in New York, in order to block it from being able to fine the insurer over its insurance marketing efforts that it has been conducting without a state license. The claim from AIG is that it would be unconstitutional to have to pay this fine. AIG has called the insurance marketing fine an interpretation that is “flawed and…

Insurance companies and drivers both benefit potholes are avoided

March 13, 2014March 10, 2014 H. Cutner

In that light, Allstate has published a line of tips to help policyholders to circumvent vehicle damage. In many areas of the country, this has been one of the worst winters in recent memory, and as warmer temperatures finally start to look as though they are coming back, insurance companies, such as Allstate, have been providing drivers with reminders of the various ways in which they can avoid damage from the inevitable development of potholes on the roads. As though the ice and blowing snow weren’t enough this year, drivers…