Telematics: The rise of usage-based insurance

Usage based insurance

Usage-based insurance is gaining traction Usage-based insurance coverage had, once upon a time, been considered little more than a fantasy. Now, however, it is becoming much more of a reality as we see insurance giants roll out their new auto insurance plans based on this technology. As the term suggests, usage-based insurance is based on driving behavior. This means that policyholder’s rates are based on how many miles driven, what time of day and safe driving habits and more. Determining whether or not coverage is in use can be a…

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Health insurance exchange in California awards grants worth $37 million

health insurance promotion

There have been 48 grants for 16 winners whose names have now been announced in the state. The Sacramento Employment and Training Agency, and the UC Davis Center for Reducing Health Disparities has joined a list of nearly fifty other organizations that are the recipients of a total of $37 million in grants from the health insurance exchange in California. This was a part of an education and outreach grant program by Covered California. There were a total of 16 winners of the grants that totaled millions of dollars from…

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Homeowners insurance adjusters win victory in Florida

Going green can lower your insurance bill.

Lawmakers repeal fee cap on homeowners insurance adjusters Florida lawmakers have repealed a cap of fees associated with public insurance adjusters this week in what is being considered a major victory for the homeowners insurance sector. The state introduced a 10% cap on these fees in 2008, hoping to placate some of the economic concerns that have been associated with Florida’s homeowners insurance market. The cap was meant to limit the financial risks of the state-run Citizens Property Insurance, which had been battling with homeowners insurance fraud and an epidemic…

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Health insurance market in Ireland may be in trouble

Ireland Health Insurance

Health insurance market shows “death spiral” symptoms The health insurance industry in Ireland is showing some troubling symptoms. Ireland is one of the countries that suffered a powerful blow from the European financial crisis. The crisis causes severe economic damage to the country, which continues to have an impact on various industries therein. The health insurance industry is one of those that have been impacted and some insurers are beginning to claim that the market is showing symptoms that suggest it has entered into a death spiral. Death spiral may…

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Insurance industry in Northern Ireland gets a shot in the arm from US company

Insurance Jobs

The American insurer is pumping 650 new jobs into that sector of the economy. Allstate Corporation, the American insurer, is creating 650 new insurance industry jobs at its Northern Ireland technology division, which is bringing a boost in employment to the region which is sorely needed as it continues to struggle through a deep recession. The insurer has already announced the hiring of 200 staff members in Northern Ireland. Allstate has also projected that it will be adding an additional 450 new hires to the insurance industry in Northern Ireland…

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