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Traveling? Beware These 5 Common Insurance Myths

While travel insurance can’t prevent tragedies such as the one that unfolded Saturday when an Asiana Airlines flight crash-landed at the San Francisco International Airport, it can ease the pain of far more common inconveniences. Travel insurance typically covers the cost of trip interruptions and cancellations, loss of luggage and transportation to medical facilities in the event of an accident …

Insurance policyholders increased three-fold in two years

Between 2010 and 2012, the number of policyholders in the insurance industry rose from 500,000 to 1.5 million. NIKE POPOOLA writes on the different initiatives to further increase insurance patronage in the country. In the last two financial periods, the number of life insurance policies sold by underwriting companies to policyholders tripled, according to the…  [Read More…]

Despite Hefty Payouts, Fire Insurance Costs Hold Steady

The insurance industry is bracing to pay hundreds of millions of dollars in claims to people whose homes were destroyed in major forest fires. But with government policies that indirectly encourage building in high-risk areas, insurance premiums for those living in the woods are unlikely to rise much.

Insurance premiums for cars go up by 60%

The Saudi Arabian Monetary Agency (SAMA) has decided to raise vehicle insurance premiums by 60 percent, a move that has angered car rental firms and individuals, according to insurance experts and dealers quoted in local media.The total value of vehicle insurance premiums stood at SR 4.69 billion in 2012, accounting for 22 percent of the total premiums injected into the insurance sector …

Insurance fraud hotline launched

To safeguard the interests of law-abiding policy holders, the Insurance Council of New Zealand has launched an insurance fraud hotline. Insurance Council Finance and Regulation Manager Terry Jordan estimates insurance fraud costs New Zealand policy holders in excess of $150 million annually. “Insurance fraud is a crime that honest Kiwi policy holders pay for,” says Mr Jordan. “This is because …

Car Insurance: Hidden Discounts Revealed

Car insurance companies are aggressive in boosting about their discounted rates, but which ones offer the most? put together a list of 17 discounts that car companies offer, such as a discount for having an anti-theft device for your car or being a member…