Tag: natural disaster insurance

Missouri Attorney General issues insurance scam warning after natural disasters

Nordstrom
Insurance scam warning - Tornado damage

AG Eric Schmitt has warned consumers about fraud and price gauging following tornadoes and flooding. Missouri Attorney General Eric Schmitt has issued an insurance scam warning following recent ongoing flooding in the state and the tornado in Jefferson City last week. Schmitt cautioned consumers to be vigilant of scammers when repairs are needed. Schmitt used his insurance scam warning to express his concern regarding price gauging and scammers on the heels of natural disasters in Missouri. He warned people across the state to be wary of construction fraud, price gauging,…

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Hurricane Preparedness Week encourages homeowners to check their insurance

Logan B.
Hurricane Preparedness Week - big waves from hurricane

The industry is reminding property owners to review their coverage and update if necessary. The insurance industry used this week, Hurricane Preparedness Week, to remind homeowners that storm season is on its way. This makes the week the perfect opportunity to go over insurance policies and make changes to prepare properties for what could potentially be an active year. The insurance industry has released lists of helpful instructions to keep customers properly covered. Hurricane Preparedness Week arrives just before the official season begins. That way, homeowners have time to look…

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American homeowners insurance rates have skyrocketed in the last 10 years

H. Cutner
American homeowners insurance rates - House

A recent study showed that property owners are paying far more now than a decade ago. Natural disasters occurring over the last ten years are being blamed for a surge in American homeowners insurance rates. Tornado alley has experienced the fastest increase in home insurance premiums in the US. A LendingTree subsidiary, QuoteWizard, looked at data over the last 10 years to explain the steady, sharp increase in American homeowners insurance rates. What they determined was that there has been a series of natural disasters that have kept premiums moving…

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Japanese earthquake insurance has become a popular gift item

Julie Campbell
Japanese Earthquake Insurance - Earthquake damage

An insurance company in Japan has designed a mobile service letting people gift coverage to each other. Japanese earthquake insurance has become the latest type of digital gift people are giving people with their mobile devices. Messaging apps have been a great way for people to give each other virtual gifts for some time now. An insurance company in Japan has spotted the potential from that trend and has turned their coverage into a virtual gift. This new option is a collaboration between a Japanese insurance company and a messaging…

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Impact of climate change to make insurance prohibitively expensive, says Munich Re

Julie Campbell
Impact of Climate Change - Damage House

The largest reinsurance company in the world has cautioned that most people won’t afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one. Munich Re, the largest reinsurance company in the world, is now warning that global warming will make insurance too expensive for most people. The reinsurer has already blamed climate change for $24 billion in California wildfire losses. Munich Re chief climatologist, Ernst Rauch, explained in a recent Guardian report that it won’t be long before…

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