Live Insurance News

Thousands could lose their health insurance due to website glitches

September 1, 2014August 31, 2014 Logan B.

Federal Health Insurance Exchange website problems

Many people are in danger of losing their insurance coverage because of information discrepancies Thousands of consumers throughout the U.S. are at risk of losing their health insurance coverage due to discrepancies with the information they provided to insurance exchanges. The federal Department of Health and Human Services has been working with many people to ensure that this does not happen, but ongoing problems with state-based exchanges may be making the issue more problematic than it already is. HealthCare.gov is unable to handle consumer information Many of those that have…

Insurance and Credit

August 18, 2014August 15, 2014 S.Vagus

Credit is sometimes a controversial subject that few people really understand. For those familiar with the financial service industry, credit is a simple matter, but not everyone is familiar. For most, credit means nothing more than credit score, a seemingly arbitrary rating of a person’s financial value. Credit is somewhat more complex than that, however, especially when it comes to the insurance industry and a company’s willingness to take on financial risks. A credit score is a gauge of a person’s overall financial risk. A low credit score means that…

Examining the Negative Stigma Surrounding Insurance

July 19, 2014July 18, 2014 Note From The Editor

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Insurance is often considered a necessary evil by many people, but why? The issue is somewhat complex and sometimes difficult to understand for certain due to the myriad opinions that are involved. For many, insurance is shrouded in a negative stigma because of certain philosophical perspectives. For others, the insurance industry makes questionable business decisions that add fuel to ever-present controversy. One thing to understand is that insurance is a for-profit industry. Companies are formed, thrive, and fail based on their ability to do business effectively within a particular market.…

Businesses need more than cyber insurance

June 7, 2014June 9, 2014 Note From The Editor

The world is becoming more integrated with technology and this is beginning to change the way the insurance business works. With businesses beginning to enter into the digital space in order to more effectively engage consumers, the need to protect themselves from cyber attacks is beginning to increase. Many businesses to not take the steps necessary to protect themselves from digital threats, so insurers are beginning to serve as a safety net, but even the insurance industry cannot protect companies from every threat in the digital world. The digital risks…

Insurance supervision head named by federal government

June 6, 2014June 3, 2014 H. Cutner

Thomas Sullivan, the former Commissioner in Connecticut, has now taken on the position. The Federal Reserve has just announced that it will be hiring the former Insurance Commissioner from Connecticut, Thomas Sullivan, in order to take the lead of the oversight of the industry, particularly in terms of the largest firms. The goal is to add his experience to help to address the claims that the central bank does not have knowledge of that business. Thomas Sullivan held the position as Commissioner in Connecticut throughout the financial crisis and was…

Telematics begins to have a major impact on auto insurance sector

May 23, 2014May 20, 2014 S.Vagus

Reed prepares to close deal on Wunelli Reed Elsevier, a leading information technology company, is preparing to finalize the acquisition of Wunelli, a developer of telematics solutions for the auto insurance sector. Telematics is becoming very popular in the insurance industry because of how it can be used by insurers to price policies more accurately. Demand for this technology has been growing steadily over the past few years and has reached an all-time high as insurance companies continue to look for ways to mitigate losses while also providing high-quality services…

Insurance regulations generate shortage of breast pumps

May 22, 2014May 22, 2014 Julie Campbell

Changes to the rules have made it nearly impossible for mothers in the Mid-South to find the devices. New mothers throughout the Mid-South of the United States are struggling to be able to obtain the equipment that they require in order to be able to feed their babies, as breast pumps have become very hard to find as a result of new insurance rules. These devices are selling out just as quickly as the latest mobile and electronic gadgets. Breast pumps are machines that help mothers to be able to…