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22+ hour, 21+ min ago (678+ words) Staff at the Victorian government's insurance agency denigrated distressed home owners with profanities in private messages revealed by the state ombudsman. Finance Minister Danny Pearson, apologising on behalf of the government, said it was unacceptable that Victorian Managed Insurance Authority staff had called struggling home owners "c---s" following the 2023 high-profile collapse of residential construction companies that left hundreds of families out of pocket. Porter Davis left hundreds of homes unfinished when it collapsed in March 2023.Credit: Eamon Gallagher Ombudsman Marlo Baragwanath on Wednesday tabled her report into the way the VMIA handled domestic building insurance claims after the insolvencies, including the unprecedented collapse of Porter Davis in March 2023, which left 1700 customers with unfinished homes around the country. The crisis, which ultimately forced the government to overhaul the way residential construction is regulated, left VMIA staff dealing with an explosion in…...

1+ day, 16+ min ago (488+ words) There has been much discussion in the insurance industry about artificial intelligence (AI) and how it can take on mundane, laborious tasks and complete them in a fraction of the time it would take a human. How Does it Work " and When Can it Be Used? Right now, there are agentic AI applications being developed for every part of the insurance ecosystem, from policy creation through to claims resolution. For example, there are AI producer agents available that target, launch, and optimize cross-channel marketing campaigns " with one click. Typically, insurance producers need about 16 time-consuming manual steps to make a sale. These include identifying best leads, creating a marketing campaign, producing a sales brochure, social media activity and emails, all leading up to the meeting with the client and closing the sale. Agentic AI can automate the entire process that leads…...

1+ day, 5+ hour ago (238+ words) (InvestigateTV) " Buying a car can be expensive and it's also pricy to own and maintain one. Bankrate looked at all the costs included in owning a vehicle " car insurance, maintenance, repairs, gas and taxes. They found, on average, Americans spend about $6,800 a year just on ownerships costs alone. Shannon Martin, an insurance expert with Bankrate, said that's about $575 dollars a month in addition to a lease or a car loan payment. Martin also said it's critical to research insurance costs before changing vehicles. "It's really important for drivers to get quotes on many different types of vehicles before they settle on a car," Martin shared, "that way they can make sure it fits within their car insurance budget." On average, Martin said, Americans spend around $1,600 a year on gas. "Nationally we spend around $1,400 a year on the cost of maintenance…...

1+ day, 5+ hour ago (238+ words) (InvestigateTV) " Buying a car can be expensive and it's also pricy to own and maintain one. Bankrate looked at all the costs included in owning a vehicle " car insurance, maintenance, repairs, gas and taxes. They found, on average, Americans spend about $6,800 a year just on ownerships costs alone. Shannon Martin, an insurance expert with Bankrate, said that's about $575 dollars a month in addition to a lease or a car loan payment. Martin also said it's critical to research insurance costs before changing vehicles. "It's really important for drivers to get quotes on many different types of vehicles before they settle on a car," Martin shared, "that way they can make sure it fits within their car insurance budget." On average, Martin said, Americans spend around $1,600 a year on gas. "Nationally we spend around $1,400 a year on the cost of maintenance…...

1+ day, 5+ hour ago (238+ words) (InvestigateTV) " Buying a car can be expensive and it's also pricy to own and maintain one. Bankrate looked at all the costs included in owning a vehicle " car insurance, maintenance, repairs, gas and taxes. They found, on average, Americans spend about $6,800 a year just on ownerships costs alone. Shannon Martin, an insurance expert with Bankrate, said that's about $575 dollars a month in addition to a lease or a car loan payment. Martin also said it's critical to research insurance costs before changing vehicles. "It's really important for drivers to get quotes on many different types of vehicles before they settle on a car," Martin shared, "that way they can make sure it fits within their car insurance budget." On average, Martin said, Americans spend around $1,600 a year on gas. "Nationally we spend around $1,400 a year on the cost of maintenance…...

1+ day, 5+ hour ago (238+ words) (InvestigateTV) " Buying a car can be expensive and it's also pricy to own and maintain one. Bankrate looked at all the costs included in owning a vehicle " car insurance, maintenance, repairs, gas and taxes. They found, on average, Americans spend about $6,800 a year just on ownerships costs alone. Shannon Martin, an insurance expert with Bankrate, said that's about $575 dollars a month in addition to a lease or a car loan payment. Martin also said it's critical to research insurance costs before changing vehicles. "It's really important for drivers to get quotes on many different types of vehicles before they settle on a car," Martin shared, "that way they can make sure it fits within their car insurance budget." On average, Martin said, Americans spend around $1,600 a year on gas. "Nationally we spend around $1,400 a year on the cost of maintenance…...

1+ day, 6+ hour ago (477+ words) ATLANTA - Drivers saw rising auto insurance bills in recent years, yet the industry was not seeing gains, an advocate told state lawmakers Friday. Companies offering commercial, health and life insurance were posting ever higher pre-tax operating gains, but not those in the auto and home insurance segments, said Robert Passmore of the American Property Casualty Insurance Association. Data he presented to a special committee of the House of Representatives showed industry gains in that "personal" insurance segment falling below zero in mid-2021 before bending back up later that year but still in the red in 2023. Passmore blamed more aggressive, speedy and distracted driving - and more expensive repairs. As vehicles have become more computerized, even once-simple repairs, like replacing a windshield, have become more costly, due to onboard cameras and sensors. "The average car on the road is about 12 years old in…...

1+ day, 17+ hour ago (876+ words) A recent UCP resolution proposes repealing Care-first and returning to "at-fault" based insurance Last weekend"s United Conservative Party of Alberta (UCP) annual general meeting heard a resolution to repeal the province"s upcoming auto insurance reform, set to take effect Jan. 1, 2027. The policy resolution was presented at UCP"s annual general meeting in Edmonton at the end of November, receiving about 75% support on the convention floor. It proposes repealing the upcoming care-first legislation and returning to "at-fault" based insurance. "Repealing the no-fault insurance legislation in Alberta and returning to a tort-based system aligns with conservative values by promoting personal responsibility and accountability, ensuring fair compensation based on fault and reducing fraudulent claims," the resolution reads. "This approach encourages safer driving behaviours and ensures that only legitimate claims are compensated." But "Alberta drivers should be quite concerned" by the call…...

1+ day, 21+ hour ago (522+ words) OMAHA, Neb. (WOWT) - The icy roads increase the chances of a crash involving another vehicle. For most drivers that means exchanging information. But proof of insurance provided by the other driver may not mean your repairs are covered. Most accidents without injuries require drivers to exchange information, but verifying proof of insurance can be a real pain. "It was not correct, the information was not valid," said Aaron Valdez, a crash victim. While waiting his turn to turn at 72nd and Grover in mid-September, Aaron Valdez got hit by a white pickup, totaling his car. "I had my foot on the brake and he knocked me back about three and a half feet and it was a three-pound truck that hit me," Valdez said. Michelle Blake is a witness. "The gentleman driving the truck was clearly at fault. He did not…...

1+ day, 22+ hour ago (330+ words) Experienced drivers are at risk of losing valuable years of no-claims discount (NCD) through no fault of their own, due to a growing practice across the insurance industry that artificially limits the information provided in renewal documents. In simple terms, insurers award a percentage discount based on years of claim-free driving, but those are two distinct measures. The discount may stop increasing after a certain point, but the number of claim-free years shouldn't. To understand how widespread this issue is, we contacted a range of insurers to ask how they document long-standing NCD. Their responses, as well as publicly available information, reveal a patchwork of practices: The Financial Ombudsman Service (FOS) has published clear guidance on the matter, stating: "If a customer has a higher no-claims bonus than you'll accept, we'd still expect you to provide proof of the amount…...