premium payments News

No Coverage Owed for Home Destroyed by Fire Even if Agent Pocketed Premiums

A property insurer is off the hook for a $200,000 claim against a policy that it canceled, leaving a lawsuit filed against a former insurance agent who was arrested for pocketing premiums as the only apparent recourse available to the …

British Insurers to Pay $1.5 Billion in Virus Claims, ABI Says

British insurers are on the hook for more than 1.2 billion pounds ($1.5 billion) in claims from businesses and individuals hit by the coronavirus pandemic, according to the industry’s trade body. Initial estimates put payments for business interruption at 900 …

Insurers Warn on Forced Payouts for Uncovered Coronavirus Losses

LONDON — World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered by measures to halt …

Cease and Desist Order Served Against North Dakota Insurance Agent

North Dakota Insurance Commissioner Adam Hamm served a cease and desist order against Brent Kitzan, a Bismarck insurance agent, and Kitzan & Associates for allegedly accepting a loan from a client and misappropriating client money for personal use. Kitzan & …