When you purchase an insurance policy, you expect security and peace of mind. However, there are instances where the insurance company may decide to rescind your policy. Policy rescission is a formal revocation or cancellation of your insurance coverage. Understanding...
Insurance Law
Can a hotel use insurance to cover the costs of vandalism?
Vandalism can be a significant headache for any business, including hotels. When property damage occurs due to vandalism, it can lead to unexpected expenses and disruptions to operations. One question that often arises in such situations is whether a hotel can rely on...
How can insurance help an IT company that lost data in a fire?
In the fast-paced world of technology, data is the lifeblood of an IT company. Losing valuable data due to unforeseen disasters, such as a fire, can be catastrophic. Having comprehensive insurance in place can be the lifeline that helps the company resume operations...
How severe does wind damage have to be for insurance to kick in?
When powerful winds strike, the damage can be severe for homeowners and business owners. Assessing the damage and navigating the insurance claims process can be daunting tasks. If you sustain property damage due to high winds, you might understandably wonder if your...
How insurance in California has changed
Climate disasters and regulatory changes have caused upheaval in California's insurance industry. As a result, residents are experiencing a myriad of challenges when it comes to insurance. Several issues are leaving Californians feeling less protected and less...
Lessons learned from Go Maps and Topa settlement
In recent news, the California Department of Insurance settled cases with Go Maps and their underwriter, Topa Insurance Company. Go Maps is an "insurtech" company that utilized an app-based platform to sell and manage insurance through Topa. These apps make it easier...
Why home insurance prices are rising in California
Recently four of California's largest insurers curtailed new home insurance applications, sending shockwaves through the state. As of late 2022, some companies ceased accepting applications, while while others reduced policy-writing efforts or are working to implement...
California is factoring climate change into insurance policies
California is known for its diverse landscapes and climate extremes. Here, if your property is located in high-risk areas, especially those susceptible to wildfires, you will likely pay substantially more for insurance coverage. Unfortunately, these policies...
Can insurance protect health care institutions from cyberattacks?
Telehealth has found a place in our society amid the COVID-19 pandemic. With this, health institutions are slowly adopting digital technologies as a norm in providing health services. Statistics also show that the global digital health market may grow 25% from 2019 to...
How do natural disaster frequencies affect insurance costs?
As climate change brings more uncertainty, the surge in natural disasters is orchestrating more than just environmental changes – it's hitting us where it hurts the most: our wallets. The unpredictability of these events is reshaping financial landscapes, particularly...