Live Insurance News

Insurance news sparks as Macau Casinos buy coverage against abductions

September 2, 2015September 1, 2015 Julie Campbell

A rash of kidnappings of guests has caused the hotels and gambling destinations to purchase the policies. In a trend that is being blamed on the rough economic struggles being faced on the Chinese mainland, the hotels and casinos of Macau are experiencing a wave of guest abductions that are now making insurance news as these establishments buy policies to cover themselves. The kidnappings of wealthy guests are occurring over the matter of unpaid gambling debts. With the falling numbers of people who head to the Chinese Special Administrative Region…

Cyber security is becoming risky for the insurance industry

July 22, 2015July 21, 2015 S.Vagus

Survey shows that insurers are becoming more concerned about cyber risks The Cyber Security Forum Initiative, alongside the Pew Research Center, has released the results of a new survey that highlights the risks that the insurance industry is facing. According to the survey, cyber risk and interest rates are now among the top risks that insurers are experiencing in the global market. Regulatory risks continue to be a significant concern for the insurance industry, but the rise in cyber attacks and other digital issues are beginning to cause concern for…

Gun insurance may soon be required by all firearm owning Americans

June 1, 2015May 30, 2015 G. Turner

A new House bill has been introduced that would mean that owners would need to carry liability coverage. House Democrat Rep. Carolyn Maloney (NY) introduced a bill, last week, that would mean that Americans who own firearms would also need to purchase a gun insurance policy to ensure that they have a minimum level of liability coverage. The Firearm Risk Protection Act was opened up to Congress on Friday and would require insurance policies. This gun insurance coverage would need to be in place before a consumer would be able…

Airline liability insurance may be unlimited in Germanwings crash

March 30, 2015March 28, 2015 Julie Campbell

mountain alps airline liability insurance plane crash

The subsidiary of Lufthansa could be facing claims in the multi-million dollar range, well above the usual cap. Germanwings, the subsidiary of Lufthansa that saw one of its jets fly into a mountain in the Alps, could be facing larger airline liability insurance claims than are typical in this type of scenario, according to some lawyers in the aviation industry. Whether or not a cap will remain in place will greatly depend on whether the airline is seen as negligent. According to prosecutors in the case, the young co-pilot from…

Mobile proof of auto insurance may soon come to Mississippi drivers

March 17, 2015March 14, 2015 H. Cutner

digital electronic mobile proof of auto insurance

Motorists could soon be displaying their liability coverage cards on their smartphones. Drivers in Mississippi may soon be allowed to use their smartphones and other types of electronic device to be able to show their proof of auto insurance, should a new legislative bill be passed. Motorists will be able to display the liability insurance cards on the screens of their mobile devices. If the bill should pass, it will mean that even if motorists have not brought their traditional proof of auto insurance cards with them, it will still…