Author: Nordstrom

Georgia auto insurance rates rose faster than in most other states

Nordstrom
Auto insurance - Georgia auto insurance rates increase

A new Bureau of Labor Statistics study showed the average amount by which rates rose in the US. The US Bureau of Labor Statistics recently released the results of an auto insurance prices study in which it showed that rates rose 19.2 percent nationally from October 2022 to the same month in 2023. That said, a new study on Georgia rates showed that drivers in that state saw higher increases. The second study was conducted by MarketWatch and showed that Georgia insurance rates increased by 22 percent from 2022 to…

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Iranian state-controlled insurance company sees tanking net profits

Nordstrom
Insurance Company - Net Loss - Iran flag

The first insurer of its kind in the country experienced substantial losses last year. The first Iranian government-controlled insurance company saw considerable net profit losses next year, when it dropped by 300 percent when compared to its 2021 figures. The insurer was first established in 1935 and has locations around the globe, including the United Kingdom. The insurance company had already been seeing losses in previous years, but last year marked a new level of loss in its profits under the management of political appointees. In 2014, the market share…

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Businesses turn to tax insurance to cover themselves from unfavorable rulings

Nordstrom
Tax insurance - Business People

Underwriters and brokers are seeing their busiest year ever from companies buying these policies. Governments worldwide have been cracking down on companies that have been avoiding their taxes, and businesses are now buying tax insurance more than ever before in order to protect themselves against a costly dispute or unfavorable ruling. This year has proven to be a record-breaking year for the number of policies purchased for this reason. According to brokers and underwriters, by the close of December, this year will have seen the most tax insurance policies. This…

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Texas auto insurance rates are climbing because of lousy drivers and expensive repairs

Nordstrom
Auto insurance - Angry Driver

The Insurance Council of Texas released a statement about climbing premiums for Texan motorists. The Insurance Council of Texas recently released a statement to explain the rapidly rising auto insurance rates in the state that have been occurring since 2021. There have been several issues that have contributed to climbing premiums, but crashes top them. According to the community director of communications and public affairs for the council Rich Johnson, insurers have been slowly increasing their auto insurance rates since 2021. That year saw a substantial 20 percent increase following…

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German regulator mislead by Greensill on insurance deal, says IAG

Nordstrom
Insurance deal - Mislead - keyboard button

According to the accusation, the dupe was mean tot help reduce the unit’s capital requirements. One of Greensill Capital’s insurers has alleged that the failed lender duped German regulators regarding an insurance deal in an effort to try to shrink its Bremen-based unit’s capital requirements. Greensill investors are currently suing the Insurance Australia Group (IAG) as they face billions in losses. The investors have accused defunct Greensill supply-chain finance group of hiding that it did not have the insurance deal in place that they were led to believe. Instead, the…

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