Live Insurance News

Environmental liability insurance system rejected in Europe

July 4, 2014July 3, 2014 Julie Campbell

The European insurance and reinsurance federation has decided that compulsory coverage would not be beneficial to consumers. Insurance Europe, the European federation for insurance and reinsurance coverage, customers would not be able to benefit from a compulsory form of environmental liability insurance system, and for that reason, it does not recommend the introduction of that type of program. This federation is made up of thirty four different members across Europe’s national associations. According to a statement from the federation, “An EU-wide compulsory environmental liability insurance system would not benefit customers…

Pool safety is being stressed by Allstate to prevent drowning

June 26, 2014February 28, 2021 H. Cutner

The insurance company has published a number of tips for safely enjoying swimming throughout the summer. Allstate Insurance has recently released a list of tips to help to help to spread awareness about the right actions to take to encourage pool safety so that swimmers will be able to enjoy the water sport that they love while minimizing both their health and their legal risks. The tips that were assembled by Allstate were based on the U.S. Consumer Product Safety Commission (CPSC). With the goal of using pool safety tips…

Cyber insurance is making it onto more company shopping lists

June 24, 2014June 21, 2014 H. Cutner

As a growing number of hackers make recent news headlines, businesses are no longer comfortable without coverage. At the same time that it has become clear that even the most sophisticated data systems among the leading high profile companies can still be broken into by skilled hackers, the cost of those attacks is becoming increasingly clear to businesses of all sizes and they are beginning to purchase cyber insurance at an increasing rate in order to cover themselves against potentially devastating damage. This special form of risk and liability insurance…

Liability insurance is causing SC drivers to pay more

June 18, 2014June 18, 2014 G. Turner

The size and frequency of the claims is making coverage more expensive in South Carolina. Drivers in South Carolina are finding that they are paying more than they might have to in other states due to the number and frequency of liability insurance claims that are occurring in the state, and the fact that while those practices are perfectly legal, the current system has placed the state at risk of a certain degree of fraud. There are currently 28 states in which there are not any restrictions when it comes…

Rideshare insurance effort grows in California

June 16, 2014June 14, 2014 G. Turner

The state is working to boost the coverage requirements for companies such as Lyft and Uber. California may soon require that rideshare insurance minimum coverages be considerably higher than they currently are, in order to give greater protection to riders as well as to make liability a great deal clearer when accidents do occur. A recent proposal would change the current regulations to a minimum of $1 million in coverage. The proposal was created by the California Public Utilities Commission (CPUC) and would require rideshare insurance to be comprised of…