Live Insurance News

Usage based insurance tracking soon available through OnStar

January 8, 2015January 7, 2015 Julie Campbell

As of the summer of 2015, a motorist’s driving behaviors can be assessed through its onboard system. Beginning this summer, the OnStar service found in many vehicles will also be capable of tracking a driver’s behaviors as a part of an opt-in usage based insurance program that will make it possible for safer motorists to save on their coverage. This program will provide an evaluation of a driver’s habits over a period of ninety days. Once that time has been completed, drivers will be given the opportunity to take advantage…

Insurance coverage for in vitro fertilization to end in Quebec

December 4, 2014December 1, 2014 Julie Campbell

The Canadian province is making a dramatic cutback in one of its most openhanded fertility treatment public funding plans. Since the creation of the generous public funding program in Quebec, Canada for fertility treatments was first created four years ago, its costs have skyrocketed, causing the province to slash back the insurance coverage that it had been providing for in vitro fertilization. Gaétan Barette, the Health Minister of Quebec recently tabled a bill ending in vitro medicare coverage. The insurance coverage for in vitro fertilization had, for the last four…

Bank deposit insurance draft rules launched in China

December 3, 2014December 1, 2014 Julie Campbell

The anticipated regulations for the upcoming system in the country has now been released in its draft form. China has now created the draft regulations for the introduction of a system of bank deposit insurance coverage for the very first time within that country, in one step among many that could be very meaningful in terms of liberalizing its interest rates and to give its financial institutions the ability to compete commercially for customers. The launch of these draft rules for the insurance program arrived shortly after it was revealed…

Crashed Virgin Galactic spaceship had $40 to $50 million in insurance coverage

November 6, 2014November 4, 2014 Julie Campbell

Virgin Galactic Space Tourism insurance coverage

The primary underwriter that will be responsible for the payouts is going to be AIG. The disaster that occurred on Friday when the Virgin Galactic spaceship crashed has approximately $40 to $50 million in insurance coverage, and the main insurer that is going to be responsible for those payments is reported to be AIG. This, according to the broker on the deal, Jardine Lloyd Thompson, a British brokerage and insurance services provider. At the time that this article was written, AIG declined the opportunity to comment on this insurance coverage.…

Insurance company goes under and leaves Pennsylvania taxi business uninsured

November 4, 2014November 1, 2014 H. Cutner

Some cabs in Harrisburg have now had their service suspended when they suddenly lost coverage. Pennsylvania commuters and tourists might find it just a little bit harder to get a cab, over the next while, as the operations of sixty six taxi and limo services were suspended by the Pennsylvania Public Utility Commission (PUC) when their insurance company could no longer provide coverage. It turns out that their insurance provider is now destined to be liquidated and is no longer capable of paying future claims. The commission’s press secretary, Jennifer…