Live Insurance News

Software is making the insurance industry more efficient

September 2, 2014August 31, 2014 Marc

Insurance news technology internet of things

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

Long term care insurance coverage costs continue their climb

May 16, 2014May 14, 2014 G. Turner

The price tag for these often vital policies are ever on the rise and show no sign of slowing down. For many people, the type of coverage that is provided by long term care insurance is an absolute necessity, because if they reach the point that they are no longer able to perform their own daily living activities – such as dressing, bathing, grooming, and preparing their own meals – they would not have the financial ability to pay for the assistance that they would require. Among those without coverage,…

Homeowners insurance costs eclipse mortgages in Florida

March 28, 2013April 30, 2013

Florida homeowners now paying more for insurance than for their homes One of the highest expenses facing Florida families has long been the mortgage on their homes. Mortgages in the state, just as elsewhere throughout the U.S., put a large amount of financial pressure on families. While mortgages have been the highest expense for many families in the state, these families are beginning to pay more for their homeowners insurance coverage, according to the Insurance Information Institute. The non-profit organization suggests that consumers are paying more for their homeowners, auto,…

Thinking of Buying a Car? Don’t Forget about the Costs of Insurance and Gas

March 24, 2013April 21, 2014 Guest Author

New car buyer insurance information Many people are prepared to haggle over the price of a new car in order to get the best deal possible. However, they often forget about the extra expenses that can add up over the years, which are affected by the type of car they choose. If you are planning on buying a new car, don’t rush into any decisions. Instead, have a sit down about some of the other factors that can affect the running costs of the car over the years, and take…

Insurance industry costs weren’t kind to Lloyds Banking

March 5, 2013March 5, 2013 G. Turner

The expenses from that sector have led the company to experience a loss in 2012. Lloyds Banking Group has been able to essentially slash its losses in half in 2012, despite the fact that it had to come up with a tremendous amount of money to set aside in order to make payments for the insurance industry scandal in which it mis-sold coverage products. Its full year loss has now been revealed to be £1.34 billion ($2 billion) which is much lower than its 2011 deficit. The bank has now…

Insurance news from U.S. policyholders reveals they’re spending more

January 21, 2013April 30, 2013

37 percent of American survey respondents say they spent more over the last 12 months. The results of a survey of policyholders in the United States are making insurance news as they have revealed that Americans believe they have spent more for their coverage over the last year. The majority feel that the reason for this increase in spending is due to higher premiums. Among the participants in this Princeton Survey Research Associates International insurance news making study, 37 percent claimed that they had spent a larger amount last year…

Insurance industry warning released by Lloyd’s of London

November 29, 2012November 27, 2012 Julie Campbell

The oldest market of insurers in the world has issued a caution to the globe. Lloyd’s of London, the oldest coverage market worldwide, has issued a warning to the insurance industry, cautioning it that if a natural disaster should strike in emerging economies, the cost of rebuilding could be enormous. It has included over a dozen emerging economies in its warning against tremendous rebuilding bills. In fact, it pointed out that there is currently a global insurance industry deficit worth £104 million ($168 million), and that this is now affecting…