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Insurance industry study reveals how people select their plans

March 2, 2013February 28, 2013 Julie Campbell

insurance industry plan choosing factors

Research has revealed new insight into how the choices are made regarding the policies that are purchased. Policymakers in the insurance industry are always tweaking and altering the plans that are available in order to help to make them more appealing for people to purchase, without providing an option that will be overly costly to the company when compared to the revenue it generates. This includes the concept of the “moral hazard”, in which people change their behaviors because they are covered. For instance, the insurance industry has observed –…

Auto insurance customers happier with their coverage

January 29, 2013April 30, 2013

J.D. Power and Associates study has shown that drivers are more satisfied with their policies. The results of a J.D. Power and Associates survey have just been released, indicating that American drivers are feeling increasing satisfaction with their auto insurance, even following massive storms such as Isaac and Sandy. In fact, the report showed that policyholder satisfaction rose by six points since 2011. This is according to the first data that was released from the 2013 U.S. Auto Claims Satisfaction Study, auto insurance customers are feeling a growing amount of…

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 news from Swiss Re shows drop in catastrophe claims

December 21, 2012April 30, 2013

The industry has faced about half as much cost from disasters than it saw last year. Swiss Re, the massive European reinsurance company, has released its most recent insurance news statistics for the year, saying that it looks as though the industry took on about half of the claims costs for disasters this year than it did last year. The claims losses from 2011 were nearly record breaking, so the notable reduction is very welcome. The prediction made by Swiss Re in its insurance news statement was that the industry…

Health insurance research on North Dakota marketplace shows near monopoly

December 5, 2012April 30, 2013

A new study has found that the small market may increase premiums and shrink benefits. The American Medical Association has released the results of a study on the health insurance marketplace in North Dakota, which has revealed that the environment in the state is nearly a monopoly. It indicated that the small number of insurers were boosting premiums and decreasing benefits. The primary health insurance company in the state is Blue Cross Blue Shield. The study has made it clear that it is not claiming that any of the insurers…