Insurance news shows “sharing economy” isn’t adequately covered

insurance news coverage

The typical policy is no longer protecting people in certain behaviors that have become commonplace. The latest insurance news from Oregon now includes a statement released by that state’s commissioner with regards to what he called a “sharing economy” and that the typical type of policy does not provide adequate coverage for using a vehicle as a part of a ride sharing service or for renting out a home. In Oregon, the insurance commissioner has previously remained quiet about coverage in these areas. Services such as Uber and Airbnb are…

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Insurance technology dispute creates turbulence between Oregon and Oracle

Oregon Health Insurance technology

Dispute between Oregon and Oracle threatens the capabilities of Cover Oregon Acclaimed technology firm Oracle has been at odds with the State of Oregon regarding its health insurance exchange. The exchange makes use of technology that has been developed by Oracle and this technology allows the exchange to operate as it is meant to. The problem, however, is that Cover Oregon is not yet fully developed and state officials have called into question the viability of Oracle’s insurance technology. The tension between the state and the technology firm had reached…

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Usage based insurance concept is launched in Oregon

Usage based auto insurance

Technology will now be allowing drivers in the state to have premiums that reflect their behaviors. An auto insurer in Oregon, MetroMile, has announced that they will now be selling a usage based insurance policy that will calculate their premiums based on the number of miles that the motorist has driven. The insurer will be using a sensor installed in vehicles that records the miles driven in the vehicle. The company is taking a similar angle to a utility meter with the concept of usage based insurance, where the number…

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Oregon shows insurance agents are vital to state exchange

Auto Insurance survey

Health insurance agents in Oregon needed The state’s Health Insurance Exchange intends to train and utilize insurance agents to assist residents and small businesses that are uninsured to find the right plans by 2014 when the new health care mandate goes into effect. What has still not yet been entirely defined is specifically what role the agents will play and how that will influence consumers who could depend on them for their advice and suggestions. The Oregon Health Insurance Exchange board met last Thursday and, according to Kim Wirtz, an exchange…

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