Analysts at many of the top ratings agencies recently said that due to major insurance losses from natural disasters over the past few years reinsurance renewal rates are expected to grow substantially higher in 2020. Two years of record-setting hurricanes, floods and wildfires have taken their toll on the American populace and insurance industry alike. […]
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For decades London, England has enjoyed a position of prestige when it comes to the global insurance market. The world-renowned city is still home to the world’s largest insurance market, Lloyd’s of London. London itself holds accounts for a tenth of the entire world’s insurance and reinsurance market. However, that all may be changing as […]
Continue Reading...Walmart and Amazon recently made headlines for their claims that Tesla solar panels were responsible for multiple fires that those companies experienced over the last year. Unfortunately for Tesla, more claims continue to pile up related to their solar panel product line. Most recently, a homeowner in Massachusetts and a small business owner in Maryland, […]
Continue Reading...Insurance has been an issue that has plagued Tesla since its first car left the production line. The new technology has baffled many insurance companies, and with the high-profile nature of Tesla’s auto-drive functions many insurers have erred on the side of more expensive policies. Since car insurance is essential in the United States, many […]
Continue Reading...Vaping has become so pervasive in the United States that it is quickly becoming a rarity to go out in public without seeing a few clouds of smoke. The popularity of vaping is especially true for the younger generations, which has many worrying about the potential health ramifications of consistent use. As it turns out, […]
Continue Reading...Geico is finally joining the ranks of insurers that offer telematics for their customers. That means that Geico auto-insurance customers will not have the option to allow Geico to monitor their driving habits, and address their insurance rates accordingly. Telematics are taking over the insurance industry. Progressive in particular has been a strong proponent of […]
Continue Reading...A new analysis that utilized data gathered from telematic devices found that speeding is unequivocally the most risky form of aggressive driving. While that may be unsurprising to many, the sheer amount of data used to come to this conclusion moves the danger of speeding from anecdotal to fact. Canada’s University of Waterloo examined data […]
Continue Reading...While climate change may seem like a political issue to some, it’s a very real threat to Florida residents. Experts agree that Florida is only going to experience increasingly frequent and severe weather events in the future. Given Florida’s geographical location, that means more flooding. A lot more flooding. The problem is many residents don’t […]
Continue Reading...Artificial Intelligence (AI) seems to be the future of a lot of industries. From self-driving cars, to insurance, the future of AI seems to be limitless. Any industry that relies heavily on data can be helped by a proper AI system. That’s why experts believe that forest fire containment and weather prediction will be the […]
Continue Reading...Many insurers have been collecting telematic data on their auto-insurance customers for years. This data is then used to assign a driving score to the driver, which informs the rate these drivers pay for their auto-insurance premiums. State Farm is looking to innovate on this concept even more by introducing real-time telematics data. Most insurers […]
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