.Insurance becomes popular target for insurers

Insurance technology and news

ICANN begins accepting applications for new domain names The Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization t hat oversees the assignment of Internet identifiers, has expanded the availability of domain names for the sake of the financial services industry. Large companies will now be able to vie for the ownership of identifiers such as .bank and .insurance, as well as variants of these names such as .lifeinsurance and .insure. ICANN is now accepting applications for insurance companies who wish to make use of these new domain…

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Climate change could spark more wildfires around the world

Imaga from Wikipedia Global Warming Map Showing the Hottest Temperatures in the past decade

Insurers becoming increasingly concerns over the effects of climate change Climate change is a highly politicized issue that has generated a great deal of controversy over the years. Though the issue has caused division in numerous industries and within the political world itself, it has been better received by the global insurance industry. Climate change and its potential effects have caused a great deal of concern amongst insurers who have long kept tabs on changes in environments and weather patterns. Because climate change could spur profound financial losses, insurers are…

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California health insurance rates may soon be on the rise for small businesses

Business Insurance policy

A proposed increase will mean premiums that are over 10 percent higher for smaller firms. Some California health insurance companies have proposed a rate increase for small business plans which will bring the price up by more than 10 percent and could become effective as soon as July or August. This proposal has drawn notable criticism from regulators in the state. Aetna, which has already received the scrutiny of state officials earlier in 2012, is now planning to hike up its premiums by an average of 10 percent, with increases…

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Chubb commercial insurance for cyber liability endorsed by American Bar Association

Chubb homeowners Insurance

Company also adds new cargo theft protection products. The nonprofit American Bar Association (ABA) affiliate, the American Bar Endowment, has chosen the Chubb Group of Insurance Companies as their primary cyber liability commercial insurance provider for the association’s members. The coverage for law firms extends beyond standard professional liability protection for lawyers. This product includes many other forms of coverage, such as those for cyber breach notification costs, as well as “billable lost hours” through business interruption protection. It also helps to decrease coverage overlaps by third parties by allowing…

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20,000 California doctors see a decrease in their business insurance premiums

Medical Malpractice Insurance

Rate regulation decreases these rates by an additional $21 million. Should a pending ballot initiative pass, patients in California will receive the same level of protection against health insurance premiums that are deemed unfair as doctors are receiving through their business insurance. The Department of Insurance in the state has announced that it will also be using its prior approval rate regulation authority to decrease the premiums for medical malpractice insurance for the approximately 20,000 medical professionals who are covered by The Doctors Company. The decrease in rates should total…

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Latest Towers Watson insurance news

Insurance industry News

Surveys about commercial P/C coverage show increasing rates. For the fifth quarter in a row, Towers Watson insurance news is showing that commercial property and casualty coverage saw an increase in its prices. The first quarter of 2012 saw a rise in rates by almost 5 percent. Furthermore, the loss ratios for commercial insurers was found to have stabilized for the majority of coverage lines, and saw improvement in the lines that had the largest increases in their rates. This, according to the data collected from the Commercial Lines Insurance…

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Health care law ’s uncertain future spurs contingency plans throughout the country

North Carolina Insurance News

Politicians and employers begin to plan for the future Though the U.S. Supreme Court seems to be taking its time in rendering a verdict on the controversial Affordable Care Act, many large and small businesses, as well as politicians from throughout the country, have begun establishing back-up plans for what the future may hold. The health care law was brought to the Supreme Court by the actions of 26 states and other organizations and individuals that opposed the law’s controversial provisions. The decision of the Supreme Court is expected to…

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