Connecticut liability insurance makes coverage more expensive for drivers

Connecticut liability insurance

Auto policy premiums rose by an average of 4.1 percent for drivers in the state last year. Connecticut liability insurance is making coverage more expensive for drivers throughout the state, according to data from the Insurance Department. In fact, it is also sending homeowners insurance rates higher, though not by as much. Last year, homeowners insurance rates increased by an average of 2.4 percent in Connecticut. Drivers saw a 4.1 percent rise in their premiums because of the Connecticut liability insurance regulations. The Connecticut Insurance Department is responsible for an…

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Insurance market in Nigeria will see solid growth this year

africa insurance market life industry growth

Experts are predicting that, regardless of the challenges in the country, the industry will be growing faster. A recent analysis has been published by KPMG and has predicted that the insurance market in Nigeria will see its growth picking up speed despite some of the challenges it has been facing over the last while. The forecast was made based on its expanding use of ICT and telecom facilities for sales, as well as the population density. The analysis results were published in “The African Insurance Market at a Glance” report…

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Insurance commissioners across the U.S. seek to combat the cyber attack threat

Cyber Insurance policies commissioners industry

They are now working with American federal legislators to help to combat the evolving nature of data breaches. State insurance commissioners have announced that they will be working in partnership with federal legislators in order to try to improve defenses against the damage being caused by the rapid evolution of cyber threats. At the same time, these industry regulators aren’t seeking to adopt new national regulations or legislation over their own authority. The insurance commissioners do want to try to combat the increasing threat from cyber attacks and data breaches,…

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Cybersecurity insurance news buzzes with new NAIC industry guidance

cybersecurity insurance

The National Association of Insurance Commissioners has now taken on twelve new regulatory guidance principles. The National Association of Insurance Commissioners (NAIC), has recently announced its adoption of twelve Principles for Effective Cybersecurity Insurance Regulatory Guidance. This is an important move from this standards setting organization which is made up of regulators from across the country. These twelve cybersecurity insurance principles have come at a time in which the threats to the industry have been receiving a tremendous amount of time in the spotlight, particularly following the Anthem data breach.…

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Texas homeowners insurance rates no longer highest

Texas Homeowners Insurance

The state may no longer be at the top of this costly list but this is great news for residents. According to recent statistics regarding Texas homeowners insurance rates – when compared with those in the other states across the country – are no longer the most expensive. This is a list that Texans are glad to hear that they are no longer leading. In fact, Texas homeowners insurance rates have dropped down to third place on the national list. This, according to the annual state rankings that have been…

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Homeowners insurance rates grow nationwide

homeowners insurance rates grow

Homeowners insurance rates are increasing throughout the US Homeowners insurance has become a tricky subject in the U.S. Costs for this type of coverage are typically high in regions that are prone to natural disasters, such as those along the coastline of the Gulf of Mexico. States like Florida and Louisiana typically see high home insurance rates due to the fact that they have been victims of major hurricanes in the past. Homeowners insurance rates are growing, however, and this is not being restricted to just a few states. Rates…

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Health insurance policies throughout US could face cancelation

Health Insurance policies

Affordable Care Act may cause mass cancellation of health insurance policies In the U.S., the Affordable Care Act is meant to make health insurance coverage more available to a wider range of consumers. The federal health care law initially received strong praise for its provisions that would allow consumers to find the health insurance coverage they needed without being met with staunch rejection from private insurance companies. The problem, however, is that the law’s provisions may actually lead to many people losing their health insurance coverage as the law takes effect in…

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Insurance news being made by Amy Grant and her father

Insurance News Amy Grant NAIC

The Grammy award winning singer has announced her support for the NAIC in light of her dad’s health. The National Association of Insurance Commissioners has placed itself in the insurance news spotlight, as it makes headlines through the support that it has received through Amy Grant. The musician has been speaking about the importance of coverage to protect consumers against the unexpected. Grant has been making insurance news headlines as she highlights the benefits of purchasing policies to guard against damaging events. She explained that “Planning ahead and getting smart…

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Auto insurance consumers are warned against underinsuring

Online Auto Insurance

Policyholders are being warned to take action to protect themselves. The National Association of Insurance Commissioners has recently released information that is designed to help auto insurance customers to protect themselves against buying coverage that is inadequate for their personal needs when shopping for coverage. This type of problem is especially strong among consumers with credit struggles. Many auto insurance shoppers can find that they struggle to obtain affordable coverage because credit scores are often used as a factor in the calculation of monthly premiums. However, the National Association of…

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Insurance regulators pass controversial resolution to amend the Affordable Care

The National Association of Insurance Commissioners (NAIC) gathered this week to vote on a controversial resolution that would have drastic effects on a consumer protection clause of the Affordable Care Act. The provision would have saved consumers nationwide approximately $1 billion in premiums while offering them protections from future rate hikes. The provision is also part of the controversial medical loss ratio provision of the health care law – which requires insurers to pay no less than 80% of their premium money on medical care. Regulators have been divided on…

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