Live Insurance News

Hurricane insurance companies begin their responses to the damage

October 13, 2016October 12, 2016 G. Turner

Following the devastation Hurricane Matthew left behind on the east coast, insurers are now responding to claims. Hurricane insurance companies are now responding to the thousands of claims they received as a result of Hurricane Matthew. These property damage claims occurred when the storm slammed its way across the bottom portion of the East Coast. Hurricane Matthew left its mark on states along the coast from Florida right through to Virginia. Damage was extensive in central Florida. That said, it wasn’t nearly as great as predictions had suggested. The area…

Halloween insurance news usually involves property damage

October 31, 2014October 28, 2014 G. Turner

Every year, agents and local police prepare themselves for the mess left behind by vandals. Today, local police and insurance agents are getting themselves ready for the darker side of Halloween than the ghosts and goblins that wander the streets looking for candies, as insurance news headlines every year will spike with property damage claims. Without fail every year, vandals will batter people’s homes, properties, and cars with eggs, pumpkins, and toilet paper. According to an insurance news release from Mercury, last year, there was a rise of 3 percent…

Homeowners insurance industry is hoping early signs of cold will serve as a reminder

October 21, 2012April 30, 2013

homeowners insurance information institute winter snow ice

The time has come for winter proofing homes and properties to help prevent damage. Though the majority of damage caused by winter storms is covered by homeowners insurance, it is highly recommended that efforts be taken to help protect the home against harm from frost, freezing, snow, wind, and other problems throughout the colder season. Some areas of the country have already experienced weather advisories for frost and freezing temperatures. Though these signs of winter are still very early, they are an important signal of how close the season truly…

Strategic alliance formed between Aspen U.S. Insurance and V3 Insurance Partners LLC

October 31, 2011May 7, 2013

Aspen U.S. Insurance has announced that it has formed a strategic alliance with the managing general underwriting agency, V3 Insurance Partners, in order to be able to sell the optional premises liability and miscellaneous professional liability program called Vantage 360® MPL+ to every state in the country. This program was created with professional service companies in mind; specifically those with less than $15 million in yearly revenues. The program is for wholesale brokers only by way of V3. Protection is made available on both a non-admitted and admitted basis. V3…

Reports on millions paid for April tornado mayhem

May 23, 2011May 21, 2011 Live Insurance News

Another insurance company has released their report of estimated losses from the April tornado outbreak. State Auto Financial Corp. is estimating between 75 and 85 million in catastrophe losses as a result of more than 15 thousand claims. This is around 30 million dollars higher than their average five year catastrophe losses of 50 million. Twenty of State Auto’s operating states were affected by five different disasters last month. Claims for property damage and vehicle damage from tornados and storms that produced large hail and high winds. State Auto Financial…

Queensland flood insurance investigation reveals that nature wasn’t the only culprit

March 9, 2011March 9, 2011 Marc

According to experts that were hired by insurance companies to do a further check into the damages that occured during the Queensland floods, found that the Wivenhoe Dam was a contributing factor. The owner of NRMA and CGU, Insurance Australia Group reported in detail how the water that was released from Wivenhoe including the heavy and continuous rainfall contributed to the flooding of the homes and businesses in the said Australia state. However, it was not reported how much of the damage can be blamed on Wivenhoe during the flood that…

New Zealand insurance companies are rallying after major earthquake

February 22, 2011 S.Vagus

Insurance companies are rallying together on the heels of a devastating earthquake that rocked the New Zealand city of Christchurch. They are expected to pay millions in claims. Chris Ryan, the chief executive for the Insurance Council of New Zealand, says that it is difficult to estimate the total cost of the quake as the buildings that collapsed were damaged by a previous earthquake in September of last year. A powerful earthquake struck Christchurch during its lunchtime rush. The magnitude 6.3 quake toppled office building, flattened homes and at least…