It’s not difficult to both love and hate insurance. Few of us enjoy paying for it every month, but we are relieved to have it if something bad happens. That is definitely the case for both home and business insurance. Buying either can be a costly endeavor, but the good news is that you don’t have to be stuck with high monthly premiums. Instead, by shopping around, working with the insurance company, and living in places with fewer risks, you can make the payments much more manageable. Let’s look at…
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California insurance industry warned of “significant risk” from Oroville Dam
Concern over the dangers presented from the 770 foot structure’s damaged spillway has not disappeared. The next rainy season is only months away and the California insurance industry faces a “significant risk” from the Oroville Dam and its damaged spillway. Experts are cautioning the industry, residents of the region and pretty much anyone else who will listen about that the next time the waters rise could end far worse than the last time. Raging waters last month caused America’s tallest dam to experience critical damage. That damage has yet to…
Read MoreThe Insurance Industry and Climate Change
Insurers are taking steps to address climate change When it comes to climate change, insurance can be a tricky subject. The global insurance industry does not typically deal in “what ifs” and many large insurers are not willing to debate whether or not climate change is real. These insurers are more apt to address the issue of climate change by offering new insurance products and finding ways to mitigate the risks associated with the phenomenon. Powerful storms, rising temperatures, and depleting food and water resources are becoming issues that the…
Read MoreSurvey shows insurance industry is ready to take on more risk
Insurers are looking to increase risk in order to fight back trend of low yields Goldman Sachs Asset Management has release its latest annual survey of the insurance industry’s leading Chief Investment Officers and Chief Financial officers. These insurance officials represent organization with more than $6 trillion in global balance sheet assets. The survey is the third of its kind from Goldman Sachs, which aims to release these reports every year for the foreseeable future. Notably, the survey shows that insurers may be willing to take on additional risk in…
Read MoreInsurance industry to study U.S. and Canada’s “new normal”
New research has now been funded to help to quantify the risk associated with hail, tornadoes and wind. Verisk Analytics company, Atmospheric Environmental Research (AER), has announced that it has received funding from the insurance industry and financial sector companies for a new emerging risk program being run by its scientists, called Climate Change: Tornado and Hail, in order to help to quantify any shifts that have occurred in the severe thunderstorm hazard patterns in Canada and the United States. It is believed that the result will be a “new…
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