The insurer is using the technology to get a better idea of the property damage situation from spring storms. Allstate is using insurance drones to conduct an assessment of the property damage left behind by spring storms in four states. The company already owns the technology in a number of locations and was prepared to implement it when it was needed. In preparation to use the drones, Allstate Insurance readied itself with a solid fleet of the technology. The Allstate fleet of insurance drones are either ready or already being…
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Oklahoma earthquake insurance market still shaky
Regulators have been attempting to get the explosive marketplace in the state under control. Oklahoma earthquake insurance is topping the list of regulator struggles in the state. As the market grows at a staggering rate, it has reached a point in which the state is facing an unprecedented risk. The exponential rise in the frequency of earthquakes has changed the entire nature of the industry in the state. Not long ago, Oklahoma earthquake insurance was out of the question. There was no reason for it. Over the last few years,…
Read MoreOklahoma earthquake insurance under investigation by state commissioner
Proactive steps are currently being taken in order to discover whether or not rates are where they should be. State Commissioner John Doak has now announced that he is conducting an investigation into Oklahoma earthquake insurance as a part of a larger effort to make sure that the rates that are being paid by residents of the state are not higher than they should be. This announcement was made at a public hearing at which he heard new details with regards to insurance rate fluctuations. This new information helped the…
Read MoreOklahoma lawmakers pursue bill in case earthquake insurance companies leave
Concerns that insurers will head out of the state as quakes become more common has sparked the need for consumer protection. Over the last handful of years, earthquakes have become increasingly common in Oklahoma, and there is a growing concern that insurance companies could start to leave the state if they find the risk associated with doing business there to be too high. Scares of quakes are causing lawmakers to consider the possibility of a worst-case scenario in Oklahoma. The purpose is to put a bill into place that would…
Read MoreOklahoma’s homeowners insurance sector becomes shrouded in controversy
Homeowners claim that insurers are refusing to cover damage caused by earthquakes Controversy has erupted in Oklahoma’s homeowners insurance sector, and earthquakes are part of the problem. Many homeowners have begun issuing complaints that their insurance providers are refusing to cover damage caused by earthquakes. Oklahoma has been rocked by quakes in recent months, with these disasters becoming somewhat more frequent over the past year. Notably, these quakes may be being caused by injection wells, which are used to extract natural gas from the earth. Even homeowners with earthquake insurance…
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