Live Insurance News

Homeowners take issue with flood insurance and lack of paid claims

March 19, 2014March 19, 2014 Nordstrom

Victims of Hurricane Sandy continue to fight for monetary compensation Some 16 months after Hurricane Sandy slammed into the East Coast of the U.S., homeowners are still working to recover from the disaster. The powerful storm caused an estimated $68 billion in damage, most of which came from floods that were triggered by the storm. In New Jersey and New York, homeowners quickly learned that the damage caused to their properties was not covered by their insurance policies because private insurers in the U.S. do not offer flood protection. Instead,…

Aetna pulls out of New Jersey health insurance exchange

September 19, 2013September 17, 2013 Logan B.

Company opts to not participate in state health insurance exchange Aetna, one of the largest health insurance companies in the U.S., has announced that it will not be participating in the New Jersey health insurance exchange. The exchange is set to begin open enrollment on October 1 this year, and is meant to provide consumers with access to affordable health insurance plans. Aetna was expected to be a prominent participant in the exchange, but disagreements with state officials may have discouraged the company from participating in the state’s exchange. Aetna…

Flood insurance rates to spike in New York and New Jersey

June 11, 2013June 10, 2013 Logan B.

Flood insurance rates expected to rise in wake of Hurricane Sandy More than six months have passed since Hurricane Sandy barreled into New York and New Jersey. The two states suffered horrendous damage from the storm, but not from its strong winds. Floods caused the majority of the damage associated with Hurricane Sandy, which has proven to be a problematic issue for the victims of the powerful storm, especially those without flood insurance protection. The uninsured and the uninformed suffered serious losses due to the storm, with most believing their…

Auto insurance survey sheds light on distracted driving

June 1, 2013June 2, 2013 Logan B.

New Jersey auto insurance influenced by distracted drivers Plymouth Rock Assurance, an auto insurance organization based in New Jersey, has released the results of a new survey concerning distracted driving. The survey suggests that texting while driving remains a significant problem in New Jersey. Though not implied by the survey, this problem could be contributing to the rising costs of auto insurance. Distractions are taken very seriously by the auto insurance sector, and any distraction could be justifiable cause to raise premiums due to the inherent risks they represent. Many…

Many homeowners insurance claims in New Jersey go unpaid

May 22, 2013May 24, 2013 Logan B.

Homeowners flood Insurance hurricane sandy damage

Homeowners insurance claims from Hurricane Sandy remain unpaid Over the past several months, new concerning Hurricane Sandy has been somewhat steady. The powerful storm struck the Eastern U.S. back in October 2012, but its effects are still being felt presently. The storm struck New Jersey particularly hard and has caused several problems in the realm of homeowners insurance, especially as many consumers expressed confusion over the coverage they had for their properties. Report sheds light on troubled financial landscape in wake of powerful storm The report comes from the…