Category Archives: Insurance

Игроки всегда ценят удобный и стабильный доступ к играм. Для этого идеально подходит зеркало Вавады, которое позволяет обходить любые ограничения, обеспечивая доступ ко всем бонусам и слотам.

Tool Calculates Natural Hazard Risk to Property

Posted on by

Potential for hurricanes and storm surges, the possibilities of wildfires and sinkholes, and an extensive coastline make Florida rank as the state with the highest risk of property damage from natural hazards, according to a new analysis by CoreLogic. Second on the list is Rhode Island, with Michigan coming in with the lowest ranking for risk.

The analysis was derived from the Hazard Risk Score (HRS), a new analytics tool that gathers data on multiple natural hazard risks and combines the data into a single score ranging from 0 to 100. The score indicates risk exposure at the individual property and location level, CoreLogic said. In calculating an overall score, the probability of an event and the frequency of past events are significant contributing factors to determine risk levels associated with individual hazards, along with each hazard’s risk contribution to total loss.

“Florida’s high level of risk is driven by the potential for hurricane winds and storm surge damage along its extensive Atlantic and Gulf coastline, as well as the added potential for sinkholes, flooding and wildfires. Michigan alternatively ranks low for most natural hazard risks, other than flooding,” Howard Botts, Ph.D., vice president and chief scientist for CoreLogic Spatial Solutions, said in a statement.

HRS measures risk concentration and pinpoints the riskiest places in the country. “This insight is critical in conducting comparative risk management nationwide and fully understanding exposure to potential natural hazard damage,” Botts said.

The tool can be used to improve decision-making and enhance business operations, including:

• Business continuity and disaster recovery planning

• Analyzing risks associated with properties

• Measuring savings of mitigation compared to the potential damage of a hazard

• Evaluating natural hazard levels of distribution and supplier networks

• Recognizing if underinsured or uninsured properties could be at risk of default

• Adverse selection avoidance and identification of good risk properties.

 

 

 

Napa Quake Economic Loss Estimates at $1 Billion

Posted on by

A state of emergency was declared in California yesterday by Gov.

online pharmacy seroquel with best prices today in the USA

Edmund G. Brown due to the effects of a 6.1 magnitude earthquake that rocked the Napa Valley area in northern California. The U.S. Geological Survey estimates that economic losses from the quake could top $1 billion and said there is a 54% likelihood of another large quake, magnitude 5 or higher, within the next week.

As of 4:15 p.m. Sunday, six aftershocks had been reported, four centered near Napa, ranging 2.5 to 3.6 magnitude. Two others, a 2.8 and a 2.6 were reported near American Canyon, according to the USGS.

The Napa quake is the largest in the Bay Area since the 1989 Loma Prieta quake, which was magnitude 6.9. That quake resulted in $1.8 billion in insured claims (in 2013 dollars) being paid to policyholders, said Robert Hartwig, Ph.D., president of the Insurance Information Institute.

In the Napa region, widespread damage has been reported to infrastructure, including roads and utilities and public buildings such as the Napa Post Office, the county’s administration building and numerous homes. The City of Napa reported that as of Sunday afternoon 120 patients had been treated or are being treated. Three patients—two adults and one child—suffered critical injuries, Gov.

online pharmacy bactrim with best prices today in the USA

Brown’s office reported., adding that power outages also occurred, affecting 69,000 people across the region.

The costliest earthquake in United States history, was the Northridge Quake, with insured losses totaling $24.1 billion (in 2013 dollars). The U.S. has about 20,000 earthquakes annually, mostly small, and 42 states are at risk of quakes, according to the U.S. Geological Survey.

Despite the known high potential for earthquakes and resulting damages in the state, however, only about 12% of California homeowners purchase earthquake coverage, the I.I.I. said.

Of concern are business interruption (BI) losses, as the Napa region is a popular tourist destination. Many businesses that attract visitors, including wineries and restaurants, have sustained damage, both non-structural and structural, according to EQECAT.

According to the I.I.I.:

Earthquakes in the United States are not covered under standard homeowners or business insurance policies. Coverage is usually available for earthquake damage in the form of an endorsement to a home or business insurance policy. However, insurers that don’t sell earthquake insurance may still be impacted by these catastrophes due to losses from fire following a quake.

online pharmacy stendra with best prices today in the USA

These losses could involve claims for business interruption and additional living expenses as well. Cars and other vehicles are covered for earthquake damage under the comprehensive part of the auto insurance policy.

If Passed, Calif. Law Would Oversee Pet Insurance

Posted on by

Consumer complaints about pet insurance to the California Department of Insurance have prompted a new look at setting guidelines to regulate the coverage.

If passed by the Senate and signed into law by the governor, California would be the first state to impose requirements on this line of insurance. Assembly Bill 2056, introduced by Rep. Matt Dababneh, D-Los Angeles, would make policies more transparent, with disclosure requirements and a 30-day trial period for policyholders.

In support of the legislation, Rep. Dababneh stated, “Pet health policies are similar to other insurance policies; typically they have premiums, deductibles, co-pays, coverage limits and benefit schedules.” He added, however, that “policyholders have difficulty ascertaining the coverage limits, benefit schedules, preexisting conditions and other limitations of pet insurance policies, and can receive less for their claims than they expect.”

Under the legislation, pet insurance would be defined as a separate line within the insurance code, distinct from other miscellaneous lines. If passed, the law would establish required policy terms for all pet insurance policies serving California residents, and it would add clarity for consumers on what their policy covers.

Insurers would be required to disclose all exemptions up-front. Currently there are 21 exemptions, including neutering, hereditary diseases and treatment of fleas and worms, the Sacramento Bee reported.

The legislation would also:

• Require a pet insurer to disclose, in the policy and on the main page of its website, whether the policy excludes coverage due to preexisting conditions, hereditary disorders, or congenital anomalies or disorders.

• Require a pet insurer to reasonably disclose any policy provision that limits coverage through a deductible.

• Mandate a waiting period, coinsurance, or annual or lifetime policy limits.

• Require a pet insurer to reasonably disclose wither it varies coverage or premiums based on claims experience during the preceding policy period.

• Require a pet insurer that bases claim payments on usual and customary fees, or other limitations based on prevailing veterinary service provider charges, to include a provision in the policy that clearly explains how the claim will be calculated and disclose this information via a link of the main page of its website.

The pet insurance industry, made up of about 10 primary providers, has not taken a position on the potential legislation. Supporters of the new disclosure requirements, however, say they have a key endorsement from Veterinary Pet Insurance, the largest provider in the U.S., the Bee reported.

 

 

U.S. Insurers Gearing up For Tech Growth

Posted on by

A study by Xchanging plc found that technology was the highest priority for 60% of respondents and an overwhelming majority, 86%, ranked it as their first or second priority.

The survey also found that 67% of insurers believe their company’s IT budget will increase this year, with 44% saying it would increase significantly.

The study, conducted at the Acord Loma Forum in May, found that 36% of respondents said it was most likely that big data would see an increase.