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Lightning strikes lead to claims spike, says insurer Image

Lightning strikes lead to claims spike, says insurer

Stormy weather in June has led to a surge in insurance claims for damage caused by lightning strikes, one of the UK’s largest insurers has said. Direct Line said that since the start of the month it had received more than 200 home insurance claims for lightning damage, when it…

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Author | admin Comments | 0 Date | August 7, 2017
Insurance Professionals Face N.Y. Cyber Requirements Image

Insurance Professionals Face N.Y. Cyber Requirements

The New York Department of Financial Services is requiring more than 3,000 financial institutions to implement a formal cybersecurity policy to address the rising threat of cyberattacks. “For companies that are not that heavily regulated, such as mortgage brokers, insurance agents and licensed lenders, this regulation will present many new…

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Author | admin Comments | 0 Date | August 7, 2017
‘Wacko’: Insurance Law Project Puts Spotlight On American Law Institute’s Direction Image

‘Wacko’: Insurance Law Project Puts Spotlight On American Law Institute’s Direction

The American Law Institute (ALI) is as powerful as any society with a membership of 3,000 of the nation’s leading lawyers could be. And since its founding in 1923, the Philadelphia-based group of judges and academic and practicing lawyers has been as obscure as a group with so much power…

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Author | admin Comments | 0 Date | August 7, 2017
Insurers Think They’ve Found the Perfect Patients for Profits Image

Insurers Think They’ve Found the Perfect Patients for Profits

The turmoil around the Affordable Care Act has created heartburn for health insurers. The industry is betting that a different government program will soothe its ills. Big insurers have retreated from Obamacare’s individual market, where fighting over the future of the health law has contributed to financial losses. They’re focusing…

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Author | admin Comments | 0 Date | August 7, 2017
This May Not be the News You Want But Bringing a Lawsuit Just Got Easier Image

This May Not be the News You Want But Bringing a Lawsuit Just Got Easier

An insurance startup has a new policy that will cover the costs of bringing a case that you lose. There is some bad news for people who fret our society is excessively litigious. A startup in the normally stuffy insurance industry has just made bringing a lawsuit less risky. Level…

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Author | admin Comments | 0 Date | August 7, 2017