AZ insurance regulator warns of phishing scam targeting insurance professionals

Arizona’s Department of Insurance | September 16, 2019

Arizona’s Department of Insurance (AZDOI) has sent an email to all insurers operating in the state which warns them of an ongoing phishing scam. The regulator has warned that email messages falsely claiming to be from the National Association of Insurance Commissioners (NAIC) are being sent to insurance professionals. The emails claim that the NAIC had received a complaint against the professional for submitting a falsified claim, and has a link to the complaint notification. The email may look official since it prominently displays the NAIC and CIPR logos, but once the suspicious link is clicked it downloads a trojan virus. Citing information from the actual NAIC and the Arizona Department of Administration Security Operations Center (AZSOC), AZDOI noted that the virus has been identified as Lime RAT, a remote access trojan. Lime RAT can be used to perform malicious actions on the affected computer, such as installing ransomware.

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PolicyMe | November 08, 2022

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With 42% of Canadian parents having one month or less of expenses in emergency savings, PolicyMe’s Critical Illness Insurance product provides Canadian families with the financial protection to withstand lost income or unforeseen medical expenses due to a critical illness. “Having personally battled cancer years ago, I know first-hand how stressful a critical illness diagnosis can be, By offering Critical Illness Insurance, we hope that we’re able to remove the financial stress of a diagnosis so our customers can focus on what’s most important: their recovery.” -Jeff McKay, Co-Founder & CTO of PolicyMe How PolicyMe is building a better Critical Illness Insurance product Since launching PolicyMe Term Life Insurance in March 2021, there has been consistent interest from customers about the possibility of bundling Critical Illness coverage into their Life Insurance policies. PolicyMe’s research shows that over 60% of customers believed that Critical Illness Insurance would be a valuable product to own; however awareness and knowledge around the product remained low amongst Canadians. Guided by their mission of building simpler and more affordable insurance products for Canadian families, the PolicyMe team set out to better understand the Critical Illness Insurance needs of Canadians and identify opportunities where they could use their technology to improve the product and experience for customers. From our many conversations with customers, it was clear that the majority preferred a plan that maximized coverage for more illnesses. There are plans out there that only cover the three major illnesses Canadians experience—cancer, strokes, and heart attacks. But those aren’t the only illnesses that affect people financially. We made sure to cover every serious medical condition we could that can cause hardship. The result is a much lower probability that someone suffers an illness and doesn’t get the financial resources they need, and a lower chance that someone thinks they’re insured for something when they really aren’t, states Andrew Ostro, Co-Founder & CEO of PolicyMe. How PolicyMe is bringing more critical illness coverage to Canadians PolicyMe offers the most complete Critical Illness coverage in Canada for adults, covering 44 conditions (27 critical conditions and 17 early stage conditions). Given the prevalence of cancer and cardiovascular conditions in Canada, PolicyMe has incorporated coverage for more early-stage cancers and cardiovascular conditions than any insurer in the country, without sacrificing affordability. Keeping with PolicyMe’s simplified approach to technology, new customers can apply for life insurance and be underwritten for critical illness insurance through one single and concise application. We wanted to ensure that comprehensive coverage is affordable and accessible to Canadian families who are already juggling the demands of rising living costs, By removing inefficiencies from the traditional insurance model, we continue to work towards our goal of providing low-priced, high-value products with extensive coverage,said Ostro. Critical Illness Insurance is the first new product launch of many as PolicyMe kicks off its product expansion post Series A, delivering accessible insurance to help Canadian families financially withstand a broader range of unexpected life events. As PolicyMe continues to build its vision of being there for every family when life unexpectedly changes, Critical Illness Insurance enables the company to provide not only death benefits, but also living benefits to policyholders. 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CORE INSURANCE

Alliant Insurance Services Acquires FutureSense, Expands Consulting Capabilities

Alliant Insurance Services | November 04, 2022

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CORE INSURANCE

Inszone Insurance Services Acquires Capizzi Insurance

Inszone Insurance | November 24, 2022

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