Live Insurance News

Polar vortex batters the insurance industry

January 23, 2014January 21, 2014 Marc

winter water homeowners insurance industry

Polar vortex slams into the US, causing significant problems during the first two weeks of January The first two weeks of 2014 were marked by an unusual natural event that has been called the “polar vortex.” The event affected the majority of the U.S., causing property damage throughout the country as well as business interruption. The polar vortex broke into the U.S. on January 3, 2014, and lingered for nearly two weeks thereafter, bringing freezing temperatures and heavy snowfall to many states throughout the country. All states, including those notorious…

Deposit insurance fund may soon be coming to China

December 12, 2013December 9, 2013 H. Cutner

The central bank in the country could be assembling this fund as soon as 2014. As a step toward the establishment of an independent deposit insurance company, the central bank in China will likely be assembling a fund of that nature within the next year so that it will be prepared to provide the necessary coverage when its new product arm is ready to launch Although this action has yet to be officially confirmed, the news has been leaked by several unnamed sources. These sources, close to the central bank,…

Insurance news in China reveals intentions to invest in foreign real estate

September 5, 2013September 3, 2013 G. Turner

Experts have predicted that these Chinese investors will be making their main focus in large cities. The latest insurance news from China is that their insurance funds are now looking to make investments into properties into the biggest Asian cities outside of its own borders. The prediction is that there will be approximately $14 billion (USD) focused on real estate. This insurance news has indicated that the primary real estate markets could be the largest cities in Hong Kong, Malaysia, Thailand and Singapore. The insurance funds will be focusing on…

Insurance industry could soften the U.S. pension crisis

July 12, 2013July 10, 2013 G. Turner

Senator Hatch from Utah believes that insurers could hold the key to easing the struggle that will be faced. On Tuesday, one of the top Republican senators proposed legislation that would considerably alter the way that public pensions function by having the life insurance industry pay benefits by way of annuity contracts. The purpose of this newly unveiled legislation would be to assist in alleviating the underfunding from which many plans suffer. Senator Orrin Hatch of Utah is the highest ranking Republican on the Finance Committee. He introduced a bill…

Insurance fraud rapidly growing among mortgage policies

April 11, 2013April 30, 2013

The rate of fraudulent cases has been rising very quickly, to the point of doubling in five years. The latest report based on Experian data has revealed that the rate of mortgage and insurance fraud has risen to 38 cases out of every 10,000 applications as of last year in the United Kingdom. This is over double the rate of the fraudulent claims that was recorded in 2007. The insurance fraud has been rapidly increasing since the start of the economic downturn and the credit crunch that was associated with…