Climate change may be a controversial issue in the world of politics, but the insurance industry is betting on dramatic weather becoming a reality in the near future. The belief of the global insurance industry is shared by the United Nations. The UN’s Intergovernmental Panel on Climate Change has released a report concerning climate-related disasters, indicating that all nations will be susceptible to extreme weather. The report is aimed at…

Vienna Insurance Group, one of the largest insurers in Europe, is showing concern over the regions international insurance markets. According to the company’s forecasts, the markets are becoming stagnant and, in the best case scenario, would remain as such for the remainder of this year. This stagnation is likely a product of how consumers are responding to the ongoing economic crisis that is spreading throughout Europe. Because of this growing trend, the…

The Insurance Institute for Highway Safety (IIHS) has given the highest safety rating to the new compact crossover SUV, the 2013 Mazda CX-5, and has named the vehicle its “Top Safety Pick”. After undergoing the four IIHS tests, the Mazda CX-5 received a “Good” rating each time, which is the highest possible crash safety rating. According to the Mazda North American Operations president and CEO, Jim O’Sullivan, this vehicle is…

Erie insurance has released the results of its latest survey that has shown that insurers have released so many humorous ads that are focused on the price of their products that consumers have been distracted from the actual coverage. Among the participants in the survey, 68 percent said that the majority of the funny auto insurance ads were focused on the money savings they provide. Though these same respondents said…

To the benefit of many insurance companies, the housing market in the United States is beginning to show some signs of recovery as mortgage companies begin their reappearance. New home loan guarantor, NMI Holdings, has just announced its hiring of the FBR & Co. investment bank in order to help in the raising of $550 million following the collapse of three of its competitors that were taken down by record…

The Department of Health and Human Services (HHS) has announced that health insurance rates in nine states are far too high to be reasonable. HHS Secretary Kathleen Sebelius has determined that these rates are excessive under the authority granted to the agency by the Affordable Care Act. The law gives federal and state insurance regulators the authority to review health insurance rate increases of 10% or higher and determine whether…

Strategy Meets Action (SMA), a research and consultancy firm serving the insurance industry, has released a new report concerning underwriting practices in the industry. The report, “Underwriting Automation: Insurer Plans and Trends,” notes that insurance companies are making a move to completely automate their underwriting process. The report draws upon data collected by SMA from 144 insurance professionals throughout the industry. This trend may be a result of insurers being…

According to the latest research issued in a report by the research and advocacy group, the National Women’s Law Center, women continue to pay higher premiums than men for the same health coverage. In 2014, when the new healthcare laws are fully implemented, the discrepancy between what men and women will pay for health insurance will cease, but at the moment, many states continue to see significant gaps between the…