AB 2293 bans drivers from using their personal policies and mandates that drivers have to be covered from the moment they turn on their app and look for customers.; Credit: Photo by Daniel X. O'Neil via Flickr Creative Commons

Amid all the talk about cutting-edge technology, much of Uber and Lyft’s success actually owes to that fact the ride-sharing companies have been able to exploit a basic loophole: The companies foist the cost of insurance on their drivers, but the drivers' insurance companies don’t know they are underwriting cars for hire, and even if drivers wanted to be honest and get a policy that would cover ride-sharing, they couldn’t, because no such policy exists.

AB-2293, introduced by Assemblywoman Susan Bonilla (D-Concord) and signed into law Wednesday by Governor Jerry Brown, tries to close the loophole by paving the way for insurance companies to offer hybrid personal/commercial policies by next summer.

Uber once derided the bill as a backroom deal between insurance companies and trial lawyers.

"The bill does nothing to enhance safety, yet compromises the transportation choices and entrepreneurial opportunities Uber offers Californians," the company wrote in a June blog post that encouraged customers to contact their representatives opposing the bill.

However, the company backed down and supported the legislation when Bonilla insurance requirements were lowered.

AB 2293 also specifically bans drivers from using their personal policies and mandates drivers have to be covered from the moment they turn on their app and look for customers, which is a response to the tragic accident on New Year's Eve in San Francisco when an UberX driver hit and killed a six year old child.

Uber argued that because the driver was waiting for a fare he wasn't working for the company at the time, so he wasn't covered by the company's insurance.

I moved into a new place and the landlord requires renter's insurance with his name and coverage amounts he specified. I got a policy from Lemonade but they can't add him as additional insured, just additional interested. When you've had policies due to landlord requirements, how did you list your landlord and which company? I don't have other insurance to bundle.

Somerset Reinsurance Ltd. — a provider of reinsurance solutions to the life insurance and annuity market — announced the appointment of Riley LaTour as Chief Risk Officer [CRO] with immediate effect. A spokesperson said, “Riley will be responsible for the firm’s risk management strategies and operations. Riley was most recently Head of Risk Analytics for Somerset […]

While SA's commercial property prospects are improving along with renewed interest from investors, Dipula Income Fund says Johannesburg's water crisis is a significant concern for landlords, carrying serious ramifications for fire protection and insurance.

Four people who allegedly dressed as bears and damaged their own luxury cars in a bid to defraud insurance companies were arrested in the US state of California on Wednesday.

Four people who allegedly dressed as bears and damaged their own luxury cars in a bid to defraud insurance companies were arrested in the US state of California on Wednesday.

The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders. ...

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The Appellant filed an (offline) RTI application dated 05.01.2023 seeking the following information:

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"मेरे द्वारा की गयी शिकायत श्रीमतत मुक्ता खलखो िहडोल के कथित बीमा पॉशलसी राशि 1 करोड़ रुपये की शिकायत पर की गयी जााँच एवं काययवाही पर सभी ब्यक्क्तयों के बयान एवं दस्तावेज की सत्यापपत प्रतत उपलब्ध कराये। इस जााँच में अंततम तनर्यय ददनााँक 28.12.2022 के ररपोर्य सदहत दस्तावेज उपलब्ध कराये।"

The CPIO furnished a reply to the Appellant on 23.01.2023 stating as under:

"आपके द्वारा चाही गयी जानकारी सूचना का अथधकार अथधतनयम 2005 की धारा 8 (1) (d) एवं 8 (1) (j) के तहत संरक्षित है , अतः आपको उपलब्ध कराने में असमिय हैं।"

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The Appellant filed an (online/offline) RTI application dated 21.02.2023 seeking the following information:

"My letter dated 31/8/2021 addressed to The SDM, LIC of India, Nadiad Division with subject of Individual Cash Prize (Awards) Scheme time duration 1/1/2007 to 31/3/2007, which is enclosed herewith, as per given below details.

1. Detail procedure followed by the competent authority in respect of disposal and final reply of my letter and payment of my Individual Cash Awards (Prize).

2. Certified copies of All details of Notes / Remarks / Comments / Opinion / Decisions put up on the file by the concerned officers / managers during the procedure along with their names, designation, salary, roll no., educational qualification, gross annual salary and contact no.

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The Appellant filed an (online/offline) RTI application dated 21.02.2023 seeking the following information:

"My letter dated 31/8/2021 addressed to The SDM, LIC of India, Nadiad Division with subject of Individual Cash Prize (Awards) Scheme time duration 1/1/2007 to 31/3/2007, which is enclosed herewith, as per given below details.

1. Detail procedure followed by the competent authority in respect of disposal and final reply of my letter and payment of my Individual Cash Awards (Prize).

2. Certified copies of All details of Notes / Remarks / Comments / Opinion / Decisions put up on the file by the concerned officers / managers during the procedure along with their names, designation, salary, roll no., educational qualification, gross annual salary and contact no.

Redundancy can come about at anytime but you can safeguard against the unknown as well as the reality that it could possibly occur to you. Income protection insurance would let you take out a policy to get a fixed premium every month...

Today with the changing trend everything has become digitized. You can order online anything you wish. Financial services have also become digitized as you can order for a loan or an insurance policy...

When any insurance agent comes near to you and try to sell a insurance policy or plan then his tone of convincing can drown your worries that are vital to wise investment. The agent/consultant tells you only those factors of the...

The company attributes this growth to a combination of factors, primarily the increased health awareness triggered by the COVID-19 pandemic, along with a more focused strategy to expand into underserved regions

The partnership will focus on several key areas, including capacity development, research, data-driven innovation, and the promotion of sustainable development

Michelle L. Ross Completes the Risk Management, Insurance Planning and Employee Benefits Course.

In a Strategic Move, Watkins Insurance Group Strengthens Its Leadership Team, Poised for Future Growth and Innovation.

Choosing travel insurance is not for the faint-hearted. There are hundreds of providers, and increasingly numerous types of packages. A lot will depend upon your budget, and the type of things you want to cover against. Be careful when choosing any particular policy, and don’t presume anything (for example, check out these common reasons where […]

The post What different types of travel insurance are available? appeared first on Three Monkeys Online Magazine.

Media coverage of terrorist attacks in Europe and America (primarily) have increased the profile, and fear of terrorist attacks for travellers. What does or doesn’t travel insurance typically cover in the event of terrorist attacks? Obviously there are a myriad of travel insurance policies, so there’s no simple answer and you should always check your […]

The post Travel Insurance cover for Terrorist attacks appeared first on Three Monkeys Online Magazine.

Browse through the common complaints received by the insurance regulatory bodies (like the Financial Ombudsman in the UK), and one specific one keeps popping up. A traveller who has taken out insurance for a holiday, including cancellation coverage, cancels their holiday a couple of days before departure – for valid and covered reasons. They submit […]

The post Choose carefully the date for your travel insurance policy appeared first on Three Monkeys Online Magazine.

A major trend this year among small employers is to drop group health insurance coverage to help their employees pay for individual health insurance policies. By switching their employees to the individual health insurance marketplace, the small employers are ensuring that their employees get to choose the coverage that is best for their families. In addition, by not offering a group health insurance policy, the employers are making sure their employees have access to premium tax credits to assist them with the cost of their premiums.

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A few months before most of the Affordable Care Act provisions that restructured health insurance markets took effect, a broker described the great lengths to which he thought many small businesses might go in order to keep their relatively low insurance premiums. He anticipated that these small companies would start to pay employee health care costs out of their own treasuries — what's called, in the industry, self-funded insurance.

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Being a small business owner puts you in control of your destiny, but there are major costs that go along with being the boss. With licences, office rent, and staff payroll to deal with already, some aspiring entrepreneurs shrug off the idea of purchasing business insurance in the start-up phase.

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A survey of small businesses conducted by Appalachian State University in coordination with Selective found that cybersecurity and technology issues were growing concerns for 44% of survey respondents due to the COVID-19 pandemic. Yet, only 20% of survey respondents have cyber insurance coverage.

The findings highlight an awareness gap among small businesses about the risks they face from cybercrime. Twenty-eight percent of data breaches impact small businesses, and phishing attacks account for over 30% of breaches, making them the biggest cyber threat for small organizations.1 Cyber coverage from Selective can help small businesses manage and mitigate risks with comprehensive coverage options and cyber threat education.

Aviation Insurance . Copyright © 2021 Prime Insurance Company Ltd.

Think of cyber insurance as disaster insurance. Hopefully you'll never need it, but it may save your company.

The Insurance dictionary is a comprehensive glossary of terms compiled to foster a better understanding of the sometimes confusing world of insurance. It will be useful for studying Insurance Law in high school or a university.

What to to look for with respect to life insurance policies and coverage.

(Birmingham, AL) The most recent fallout from the mortgage crisis that began last summer is now rearing it's ugly head in the form of Fannie Mae approved loans that cannot get insured by Mortgage Insurance companies.

Mortgage insurance companies, spurred on by recent recommendations in congress, are tightening their credit standards for providing insurance. Without mortgage insurance, borrowers are forced to provide a down payment equal to 20% of the purchase price of a home - something very few home buyers can afford to do. Just this past week, mortgage insurance companies raised their credit score requirement to 620, effectively cutting out 50% of home buyers from the home buying market. The move came unnanounced and without any notice to lenders or to Fannie Mae.

In fact, lenders are still approving loans that meet Fannie Mae guidelines for purchase in the secondary market, but then find, just before closing, that there is no mortgage insurance available to insure the loan. Without insurance on money loaned that is over 80% of the value of the property, the loan is declined. Buyers that have a "loan approval" from a lender should immediately ask their lender if the lender can get their loan insured. Otherwise, homebuyers could spend hundreds and even thousands in the days leading up to the closing only to find, at the last minute, that loan insurance is not available to them.

This move by the Mortgage Insurance companies will only add fuel to the fire that is the current US Housing market. By effectively eliminating more home buyers from the market, at a time when the housing market needs more buyers, not fewer, the mortgage insurance companies have put another nail in the coffin of the housing market. The resulting effect on the market will be an even bigger drop in home prices. The immediate impact of this new policy will be felt quickly in the market, not over time as has been the case with loan defaults, adjusting loan interest rates, and foreclosures.

Be forewarned: if you are a seller, drop your price now before the market itself forces an even larger price reduction. If you are a home buyer, your credit score must be above 620 or you cannot get a loan.

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Tip! Your contract should also list all of the things NOT covered in your health insurance coverage � these are items or services that you will need to pay for out of your own pocket, should you require them.

A review of the top health insurance products and products that help discover the best health insurance for your family

Do you want to feel secure during your holiday and vacation trip around the world? You always want to feel the security while traveling. Of course, you need to secure your family as well. In case something bad happens to you, your family will receive enough claims to sustain their living.

Insurance articles from Free Reprint Articles

On October 17th a new bankruptcy law goes into effect across the United States. While Congress claimed that the purpose of the law was to crack down on deadbeats, it is apparent that little or no thought went into how the law treats victims of circumstances that are beyond their control. ACCESS has made note on a number of occasions that this group is largely made up of people who lose their jobs and those that lose their medical coverage and then get hit with catastrophic medical bills. But there is another category of people who may wind up getting hit just as hard unless they are truly prepared; homeowners who become victims of natural or manmade disasters.

Aim/Purpose: The aim of this research paper is to suggest a comprehensive model that incorporates the technology acceptance model with the task-technology fit model, information quality, security, trust, and managerial support to investigate the intended usage of big data analytics (BDA) in banks and insurance companies. Background: The emergence of the concept of “big data,” prompted by the widespread use of connected devices and social media, has been pointed out by many professionals and financial institutions in particular, which makes it necessary to assess the determinants that have an impact on behavioral intention to use big data analytics in banks and insurance companies. Methodology: The integrated model was empirically assessed using self-administered questionnaires from 181 prospective big data analytics users in Moroccan banks and insurance firms and examined using partial least square (PLS) structural equation modeling. The results cover sample characteristics, an analysis of the validity and reliability of measurement models’ variables, an evaluation of the proposed hypotheses, and a discussion of the findings. Contribution: The paper makes a noteworthy contribution to the BDA adoption literature within the finance sector. It stands out by ingeniously amalgamating the Technology Acceptance Model (TAM) with Task-Technology Fit (TTF) while underscoring the critical significance of information quality, trust, and managerial support, due to their profound relevance and importance in the finance domain. Thus showing BDA has potential applications beyond the finance sector. Findings: The findings showed that TTF and trust’s impact on the intention to use is considerable. Information quality positively impacted perceived usefulness and ease of use, which in turn affected the intention to use. Moreover, managerial support moderates the correlation between perceived usefulness and the intention to use, whereas security did not affect the intention to use and managerial support did not moderate the influence of perceived ease of use. Recommendations for Practitioners: The results suggest that financial institutions can improve their adoption decisions for big data analytics (BDA) by understanding how users perceive it. Users are predisposed to use BDA if they presume it fits well with their tasks and is easy to use. The research also emphasizes the importance of relevant information quality, managerial support, and collaboration across departments to fully leverage the potential of BDA. Recommendation for Researchers: Further study may be done on other business sectors to confirm its generalizability and the same research design can be employed to assess BDA adoption in organizations that are in the advanced stage of big data utilization. Impact on Society: The study’s findings can enable stakeholders of financial institutions that are at the primary stage of big data exploitation to understand how users perceive BDA technologies and the way their perception can influence their intention toward their use. Future Research: Future research is expected to conduct a comparison of the moderating effect of managerial support on users with technical expertise versus those without; in addition, international studies across developed countries are required to build a solid understanding of users’ perceptions towards BDA.

KUALA LUMPUR: As the takaful industry contends with escalating medical inflation and the rising costs of healthcare, the Malaysian Takaful Association (MTA) has called for increased government and private sector collaboration to ensure affordable, accessible protection options for all Malaysians.

MTA CEO Mohd Radzuan Mohamed envisions takaful becoming a leading option for Malaysians seeking protection.

With only 60% of the population currently insured or covered by takaful, he sees untapped potential among the remaining 40%, primarily in underserved and unserved communities.

“Our goal is to make takaful an accessible option, particularly for groups like the BM40 (top 20% of B40 and bottom 40% M40), who often do not receive enough attention from traditional agents,” he told SunBiz at the recent launch of Hijrah27.

Radzuan said the takaful sector has struggled to expand its market share, currently at about 20% after four decades.

In response, he said, they are considering how digital transformation, distribution enhancements and technology can address these challenges.

“Malaysia’s transformation plan and recent initiatives, like the financial sector blueprint, outline steps to close this gap by focusing on underserved communities, leveraging financial literacy campaigns, and engaging technology to make takaful accessible,” he added.

Additionally, he said co-payments, a shared cost model between the insurer and the insured, is seen as a potential solution to rising premiums fuelled by medical inflation.

“Collaborating with the Ministry of Health and Bank Negara Malaysia, takaful providers aim to develop cost-sharing models that help balance affordability and coverage. With co-payments, premiums could become more manageable, helping to mitigate the effects of medical inflation and making Takaful accessible for more people.”
While the adoption of co-payments is currently optional, Radzuan said, making it mandatory could have far-reaching implications on the takaful industry. “A balanced co-payment structure can be beneficial, but affordability must remain a priority to avoid defeating the purpose of protection,” he emphasised.

Looking forward, Radzuan said the association is exploring new technology-driven initiatives, such as the Hijrah27 framework, to improve customer service and operational efficiency. “Collaborations with fintech firms and the rise of AI-based solutions also show promise in elevating the industry’s standards and expanding reach,” he added.

The number of drivers who let their insurance monitor their driving has more than doubled in less than a decade! While many drivers were once skeptical of the practice, the benefits are becoming more and more appealing as people make the switch to usage-based insurance. And as car insurance rates continue to climb, even more […]

The post Should You Allow Your Auto Insurance To Monitor Your Driving? appeared first on Clark Howard.

Last year, the Federal Trade Commission (FTC) received more than 1 million reports of identity theft! And the AARP found that, “American adults lost a total of $43 billion to identity fraud in 2023.” So, it makes sense that — if protection exists against identity theft exists — you want it. There’s no shortage of […]

The post What Is Identity Theft Insurance and Should You Buy It? appeared first on Clark Howard.

It’s estimated that 27% of people in America live in a condo or homeowner’s association (HOA) property. If you’re one of them, then you’re all too familiar with the double-edged sword that is your HOA. On the one hand, your HOA can ensure that your community is kept to a certain standard. On the other […]

The post What Condo Owners Need To Know About Insurance appeared first on Clark Howard.

There’s a high chance your car insurance has gone up recently. If not, the bad news is it might increase at your next renewal. But there’s good news, too. You don’t have to simply accept an auto insurance increase! Take money expert Clark Howard’s advice to save. He says: “This year coming up in ‘25 […]

The post Why You Need To Re-Shop Your Car Insurance Right Now appeared first on Clark Howard.

Worried about living a life of poverty during your golden years? Longevity insurance is a little-known policy that could prevent that.

The post Longevity Insurance: What Is It and Do You Need It? appeared first on Clark Howard.

Boston Globe's senior assistant business editor Andy Rosen unpacks the dollars and cents to help you decide if it’s an essential safety net, or unnecessary expense.

The post Watch: Is pet insurance worth it? appeared first on Boston.com.

If you are involved in the EIFS business, are you concerned with insurance? The guess is it depends on who and where you are.