Insurance industry sheds jobs in some sectors while adding to others, according to III report

The Insurance Information Institute (III) has released a new report drawing upon data from the U.S. Department of Labor. The report touches upon the volatility seen in the property/casualty insurance business in October of this year. According to the report, the property/casualty sector performed poorly in terms of employment while other sectors saw promising growth. Overall, the report highlights the turbulent year the insurance industry has faced as a whole and suggests that the trend can continue throughout next year depending on the economic climate. The III notes that 900…

Read More

Insurance agents and carriers bring their mobiles with them everywhere

A study conducted by FirstBest Systems, Inc. has shown that the majority of insurance agents and carriers either want or already use a tablet computer, and that virtually all of them have a minimum of one smartphone, and that they all want to have convenient information access, to be able to be able to perform tasks of a time sensitive nature quickly and easily, and to offer superior service no matter where they are or what time it is. FirstBest performed the Mobile Technology for Insurance Survey while taking part…

Read More

Idaho health insurance exchange, Insurance Commissioner notes that it may cost insurance agents their jobs.

The debate on whether to pursue federally mandated health insurance exchanges continues in Idaho. The state has stood divided on the issue since Congress passed the Affordable Care Act back in 2010. Opponents of the health care overhaul say that the changes to health care are unconstitutional and have resisted efforts to establish an insurance exchange in the state. Many have gone so far as to reject monetary aid from the government for the initiative. Governor C.L. Otter, backed by several lawmakers, now says that time is growing short and…

Read More

What consumers should know when shopping for car insurance; cheap is not always better

Before you hit “Buy Now” consider this when online shopping for car insurance. It doesn’t matter what kind of car you drive, experts in the industry are reminding drivers that at the time of a collision, there is a significant difference between a good quality auto insurer and policy, and one that is weaker or that offers less. Many consumers are finding this out when trying to save money but learn that fly-by-night insurance carriers are not there for them nor have they been properly advised. Unfortunately, with budgets being tighten, many are…

Read More

Louisiana insurance investigator killed raises safety concerns for industry

Early this week, two insurance investigators in Louisiana were found shot to death whilst in the midst of a fraud investigation. The incident caused concern amongst state regulators who have been railing against the prevalence of fraud in Louisiana. Now, the state’s Insurance Commissioner, Jim Donelon, is considering whether his agents will begin carrying weapons as a means to defend themselves as the insurance landscape becomes more volatile. The state’s Insurance Department will conduct a review of safety procedures, but Donelon is likely to institute his measure at the end…

Read More

Car and home insurance you didn’t know you had

Your car and homeowner’s insurance policies may cover things you have not thought about. This may vary depending on the type of coverage that you have, as well as your limits of liability. It is good to know that the coverage is there when you need it. In the case of a terrorist attack, damage to your personal property may be covered. Damages to your vehicle will be covered if you have comprehensive coverage. Also with comprehensive coverage, if you let a friend borrow your car and they get into…

Read More