The economic recovery and the increases in prices have helped to boost the largest publicly traded insurance brokers as a whole throughout 2011 when compared to the year before. According to the director at Stifel, Nicolaus & Co. Inc., Meyer Shields, these two factors were very helpful to the collective fortune of these insurance brokers. He stated that “It’s not the strongest recovery we’ve ever seen. It’s not the strongest rate cycle we’ve ever seen. But it’s helping.” The industry has discovered that as there is not as much income…
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Liberty Mutual Insurance rereleases webinar about worker compensation cost management through predictive modeling
Liberty Mutual Insurance has announced that they will be rereleasing a webinar for commercial insurance agents, brokers, and buyers, so that they can better comprehend the vital role played by predictive modeling in being able to best manage the total cost that stems from workers’ compensation claims. The insurer made the decision to rerelease the webinar following a large amount of demand and interest. Liberty Mutual has now placed the webinar on its website so that those who missed the December’s event when it was originally hosted, will be able…
Read MoreAllstate to launch new homeowner’s insurance products throughout the U.S.
In October of last year, Allstate launched a new line of homeowner’s insurance products in Oklahoma called House & Home. The company’s initiative was met with success and now the insurer is gearing up to launch these products in various states through 2014. The products became popular amongst consumers because it provided them with a sleuth of discounts and new deductible and coverage options. The insurer has also introduced a more simplified quoting process that uses external information to fill out applications more quickly. As Allstate introduces these new insurance…
Read MoreAllstate net income tumbles for third quarter after payouts for natural disasters
Following the $1.08 billion payout by Allstate Corp. for natural disaster claims, the net income for the company’s third quarter fell by 55 percent. Equally, the insurer also said that its investment results were better, and that its auto insurance segment profits assisted in offsetting some of the losses resulting from this year’s storms. Overall, it saw a $165 million net income, which translates to 32 cents per share, when compared with the figures in 2010 which were 68 cents per share and a net income of $367 million. Allstate…
Read MoreAmericans have a lack of trust for insurance agents, leading them to purchase less coverage
Insurance plays a vital part in protecting people against accidents, catastrophes, and illnesses to make sure that they and their families do not suffer tremendous financial hardships should any of those circumstances occur. However, many are hesitant to obtain policies because they feel that they cannot trust an agent or insurer. In the United States, the number of individual life policies that are purchased every year has fallen by 45 percent over the last quarter century, even though the number of households that include children has risen by more than…
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