A J.D. Power study has shown that policyholders are not as happy with their insurers as they once were. According to the results of a study that was conducted by J.D. Power and Associates, customer satisfaction with American auto insurance companies has fallen in five different categories within the last year. The research showed that policyholders are not expressing the level of satisfaction that they were in 2012. The areas of auto insurance customer satisfaction that were measured by J.D. Power were in policy offerings, price, interaction, billing and payments,…
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The latest headlines, on all lines of insurance, will be updated and listed here.
Insurance news made by Mayor of London
Boris Johnson made a speech in which he identified the industry as “crucial” to the U.K. economy. The Mayor of London, Boris Johnson, spoke in front of an audience primarily made up of Lloyd’s market participants and made insurance news by underscoring the critical role that is played by the market in the economy of London. He also pointed out that there is a need to boost international investment in the city. Johnson spoke within the historic Underwriting Room alongside John Nelson, the chairman of Lloyd’s. Together, the insurance news…
Read MoreObama administration works to draw attention to health insurance
Federal government continues to promote health insurance awareness The Affordable Care Act is inching closer to becoming fully enacted in the U.S., which has put a great deal of pressure on the federal government and its efforts to ensure that the country complies with the federal law. The Obama administration has been working to promote the potential benefits that could be seen through the law’s provisions and has attributed particular attention to health insurance exchanges that are set to begin open enrollment this year. These exchanges have been receiving a…
Read MoreInsurance industry changes required in Malaysia
The companies in the country need to have a closer look at their performance standards so they may be raised. According to Datuk Syed Moheeb Syed Kamarulzaman, the Malaysian Insurance Institute deputy chairman, the insurance industry in the country requires considerable changes in order to increase its performance standards. At the moment, the gap between best practices and performance standards are too great. He stated that the performance of the Malaysian insurance industry are not close enough to the standards that it upholds. Moreover, he pointed out that the gap…
Read MoreHomeowners insurance in Florida to become more expensive
Homeowners insurance rates to spike in Florida Florida is home to some of the highest homeowners insurance rates in the U.S. Next week, those rates may reach new heights thanks to the state’s Citizens Property Insurance Corp. News of rate increases coming from the state-run insurer has been circulating for some time, but now the organization’s board of directors seems to be ready to take rate hikes into serious consideration. Executives are currently schedules to meet next week in Miami in order to discuss a range of rate hikes, all…
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