Live Insurance News

Insurance industry may not be liable for payouts relating to Boston Marathon Bombings

April 29, 2013April 28, 2013 Logan B.

Insurance industry may be exempt from claims payouts The Boston Marathon Bombings continue to send ripples throughout the insurance industry as more details concerning the disaster come to light. Last week, President Obama declared that last week’s bombings were, in fact, an “act of terror” perpetrated by a malicious party. The federal government has been pressured to avoid the term “terrorism,” however, due to the implications that could have within the insurance industry. Classifying the disaster as terrorism could potentially exempt insurance companies from providing benefits to policyholders. Bombings may…

Insurance news made by the goodwill of the internet community for bomb victim

April 22, 2013April 20, 2013 Julie Campbell

An uninsured hero from the bombing in Boston has had his story go viral and people want to help. The story of a man who lost both of his legs in the bombing at the Boston Marathon has started making insurance news, as the world discovered that despite his injuries, he was a part of the identification of the attackers. The man’s name is Jeff Bauman, who is uninsured and who helped to I.D. the bombers. The insurance news story went viral very quickly and the internet community responded with…

Insurance industry expected to react to Boston Marathon bombing

April 20, 2013April 18, 2013 S.Vagus

Bombing sends ripples throughout insurance industry The Boston Marathon was held in Massachusetts earlier this week and served as the scene for a gruesome attack that claimed the lives of three people and left over one hundred wounded. Three bombs went off at the finish line of the Boston Marathon fairly late into the event. U.S. officials are still investigating the event, hoping to unearth details leading to the apprehension of the responsible party. While the investigation may not have an immediate solution, the Boston Marathon bombings may have a…

The Importance of Terrorism Coverage in Your Travel Insurance Policies

March 17, 2013February 16, 2014 Guest Author

A look into travel insurance… A note on terrorism, before we go deeper into the subject. Global terrorism is clearly a real threat, as the events (and indeed some of the wars) of the last 14 years have illustrated. It is also true that specific countries or parts of the world have, at different times, had or still have a problem with terrorists endemic to their own shores. Sri Lanka, for instance, experienced sporadic bombings and terrorist attacks during the long years of the war between the Tamils and the…

Pakistan to launch new terrorism insurance pool to attract foreign investors

December 26, 2011December 26, 2011 H. Cutner

As the awareness of terrorism in the Middle East grew amongst businesses operating in the region, many foreign and domestic investors began to flee several countries in the area hoping to escape costly losses as the result of attacks. Pakistan was particularly impacted by the exodus of businesses. Over the years, however, the Exchange Commission of Pakistan (SECP) has been working to attract investors to the country. One of the ways the commission aims to accomplish this goal is to introduce a new insurance pool designed specifically with terrorism risk…