Tag: american insurance

Transatlantic insurance market gets shot in the arm from US, EU deal

Logan B.
european union EU american USA united states transatlantic insurance market

The United States and European Union have come to an agreement to boost this international marketplace. On Friday, the United States and European Union came to an agreement to shrink legal and capital hurdles to the transatlantic insurance market. The goal was to give a boost to both the insurance and reinsurance marketplaces. The transatlantic insurance and reinsurance markets are currently worth a combined $3 billion. This transatlantic insurance market accord is one that has been under negotiation for over a year. It is a follow-up to an agreement that…

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Cost of insurance too high for Maine town to fly American flag

Julie Campbell
Cost of insurance - American Flag

The smallest town in the state simply doesn’t have adequate liability coverage to honor its military veterans. The town of Randolph, Maine, wanted to honor military veterans by flying American flags. However, the cost of insurance to cover potential liabilities is too high. Therefore, the smallest town in the state will be unable to fly American flags on their utility poles. The liability insurance expense was too high for the budget associated with this project. The Randolph Fire Association held a fundraiser around a year ago. This fundraiser was to…

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11.4 million people sign up for health insurance coverage in the US

S.Vagus
health insurance exchange

More than 11 million people have used insurance exchanges to find the coverage that they need The open enrollment period for health insurance exchanges in the United States has come to an end and the White House has announced that 11.4 million people signed up for coverage through these exchanges. Many people opted to seek out insurance coverage through these exchanges because of the availability of subsidies from the federal government. These subsidies are offered through the Affordable Care Act and have helped offset the cost of insurance policies for…

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Federal Reserve requests information from the insurance industry

Nordstrom
industry insurance fraud

Federal agency is asking insurers to provide more data concerning postcrisis capital rules The U.S. Federal Reserve has begun reaching out to the insurance industry in order to obtain more data concerning postcrisis capital rules that could have a major impact on insurance companies. The agency has sent a request for information to 20 insurers. Companies that have received a request for information are considered to be “systematically important” to the country’s overall economy. Companies like American International Group and Prudential Financial Inc. fall within this designation. Data provided by…

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Insurance industry sees prices fall worldwide

H. Cutner
global insurance industry

The global pricing dropped during the last quarter of 2013, says a recent news report. According to recent insurance industry news issued in the Global Insurance Market Quarterly Briefing from Marsh, the average pricing declines that were experienced around the world – aside from in the United States – sent the global rates downward during the last quarter of 2013. During that time, the company tracked the rates and found that the global index dropped in many areas. For instance, this insurance industry report showed that the risk management global…

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