Live Insurance News

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

September 1, 2014August 31, 2014 Julie Campbell

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…

Insurance industry may see more losses due to earthquakes

August 27, 2014August 25, 2014 S.Vagus

New report highlights the growing risks associated with earthquakes The Insurance Information Institute has released a report predicting that losses associated with earthquakes will continue to rise in the U.S. There are many factors contributing to growing losses, including a higher degree of urban development in areas of the country that are seismically active. Older buildings are also exposed to earthquake damage due to the fact that they do not comply with current building codes. This factors are driving up the financial burden that earthquakes represent for the insurance industry.…

Earthquake insurance policies held by as few as 6% in Napa, California

August 25, 2014August 25, 2014 Julie Campbell

Despite the risk that is present in that part of the country, very few homes and businesses are covered. Even though Californians live in a state that is known to be located on active fault lines, the vast majority of residents and business owners still are not buying earthquake insurance. This fact came into the spotlight as a quake shook the Napa Valley region over the weekend. Northern California was shaken by a 6.1 magnitude tremor early on Sunday, taking people in populated areas quite off guard. Fires started, buildings…

Insurance news reveals that Connecticut is losing its industry share

July 25, 2014July 22, 2014 Julie Campbell

A new analysis has shown that employment recovery has been occurring nationally, but is declining in the state. The results of a recent analysis making insurance news have shown that while the industry is showing employment improvements across the country, Connecticut’s own share has been on its way down. Jobs within the life insurance sector of the industry have been plummeting in the state for 5 years. Traditionally in Connecticut employment market, the financial and insurance sectors have played very important roles. In fact, Hartford is often the center of…

Hurricane season preparedness is better than typical in Florida, this year

June 4, 2014June 2, 2014 G. Turner

The insurance industry is more ready than usual as this year’s highest risk period for the storms begins. This hurricane season, Florida feels that its insurance industry is better prepared than it has been in quite some time, after having enjoyed eight consecutive years in which the massive Atlantic storms have not caused catastrophes within the state. Now that the season for these major storms has begun, the state is ready to see what this year has to offer. The 2014 Atlantic hurricane season got started on June 1 but…