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this is Steven Vegas with live insurance
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news.com bringing you the major
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headlines from this weekend insurance
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news usage-based insurance pilot program
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being tested on motorcycles SGI has
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announced its proposal to begin a
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program that will apply usage-based
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insurance technology to policies to
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cover motorcycles installation of a
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small device into a vehicle will allow
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SGI to track driving behavior and
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ultimately determine the cost of
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coverage for a particular driver such
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programs are relatively new in the auto
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insurance sector but have managed to
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acquire some popularity among consumers
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insurance industry could be massively
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impacted by large space weather event a
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new report from Lloyds of London
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suggests that the north american
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insurance industry could be affected by
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severe space weather the report claims
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that more than 40 million Americans are
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at risk of extended power outages that
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could be caused by solar storms these
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storms may also lead to significant
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interruptions in business according to
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the report the effects of such severe
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space weather could leave some sectors
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of industry crippled for years before
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recovery can be possible california
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health insurance premiums are set to
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spike under the affordable care act
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according to data from covered
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california the Affordable Care Act is
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expected to lead to a major increase in
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the health insurance policies in the
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individual market one of the factors
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contributing to higher rates may be the
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fact that healthy consumers have no
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incentive to continue paying for health
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insurance coverage insurers continue to
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warn of the impending rate shock that
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will be sparked by the Affordable Care
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Act tornado insurance claims have
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already surpassed 250 million dollars in
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Oklahoma claims from the tornado
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disaster that struck Oklahoma in may
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have already surpassed the 250 million
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dollar mark more than 32,000 claims have
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been generated by the disaster covering
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property damage as well as damage done
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to vehicles state officials expect that
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the total losses from the disaster could
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reach 2 billion dollars
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auto insurance fraud maybe put the rest
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by driverless vehicles US safety
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regulators are beginning to call for the
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accelerated adoption of driverless
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vehicles in order to combat fraud these
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vehicles could remove the human element
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from driving effectively mitigating risk
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associated with human error driverless
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vehicles may be able to put an end to
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auto insurance fraud if they can see
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mass adoption throughout the country
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that's it for this week's news roundup
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be sure to visit live insurance news com
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or active coverage of the issues that
