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Insurance news still being made by Superstorm Sandy with criminal probe

January 26, 2015January 24, 2015 G. Turner

hurricane sandy flood insurance news

An investigation has now been launched by New York Attorney General Eric Schneiderman. New York Attorney General Eric Schneiderman is now making insurance news by opening a criminal probe into widespread accusations that have been made by the victims of Hurricane Sandy, who have said that their claims for flood damage have been rejected by their insurers as a result of engineering reports that were falsified. Three lawsuits have been filed by homeowners insurance customers in federal court, against the insurers. This insurance news involves at least three lawsuits in…

Insurance industry leaders launch new consortium

January 26, 2015January 24, 2015 S.Vagus

insurance industry growth

Leading companies come together to launch consortium focused on micro insurance Leading companies in the insurance industry have come together to establish a new micro insurance consortium. The companies have also launched a micro insurance venture incubator, which will aim to establish new insurance solutions in what it identifies as underserved sectors. Among the companies that are participating in the consortium are American International Group, Catlan Group, Guy Carpenter & Company, Aspen Insurance Holdings and others. Micro insurance incubator will establish 10 new insurance ventures in emerging markets around the…

Insurance agents could see greater struggles from online selling

January 23, 2015January 20, 2015 Julie Campbell

insurance brokers agents stress

The internet is starting to show the areas in which these industry pros could be threatened. The internet has had a history of turning jobs that used to be completed by people into tasks that could be finished in a few seconds by an algorithm or two, and now insurance agents are wondering whether that same fate could be headed in their direction. The insurance industry is seeing a massive shift toward informing consumers and selling online. Companies are introducing massive websites that promote various products, provide additional information about…

Kansas wants to recruit more health insurance providers, as well as others

January 23, 2015January 22, 2015 Marc

Iowa stopgap health insurance plan

New Insurance Commissioner aims to recruit insurers to provide better health insurance, and other coverage, options Kansas has a new Insurance Commissioner, and he wants to ensure that consumers have access to a more robust insurance market than they did in the past. Ken Selzer has taken office as the Kansas Insurance Commissioner and he has promised to begin enticing more insurance companies to come to the state. As more insurers come to Kansas, the options that consumers have for coverage will grow. This will also introduce more competition in…

Colorado’s health insurance exchange finds some success

January 23, 2015January 22, 2015 S.Vagus

Colorado Health Insurance

Report shows that the state’s insurance exchange is performing well Colorado’s health insurance exchange officials have released a report concerning the exchange’s operations in 2014. This report is meant to be released every year, tracking the performance issues of the exchange and its ability to serve consumers. The report suggests that the Colorado health insurance exchange had a very successful first year of operations. The report also predicts that 2015 will be a good year for the exchange, thanks to healthy enrollment activity. Exchange succeeds in making insurance coverage more…