Live Insurance News

Insurance fraud becoming more prolific in Ohio

March 4, 2013March 3, 2013 S.Vagus

Ohio continues to grapple with insurance fraud Insurance fraud hit a high in Ohio last year, according to the state’s Department of Insurance. The state agency has released data concerning the reports of insurance fraud and agent misconduct it had received throughout 2012. Regulators have been working to rein in on fraud throughout the state more aggressively. Fraud is often one of the major contributory factors to rising insurance prices, and regulators are keen to keep insurance rates manageable for consumers throughout Ohio. Agency received 7,274 allegations of insurance fraud…

Ohio lawmakers approve changes to minimum auto insurance requirements

December 19, 2012December 19, 2012 Dan

Ohio auto insurance expected to become more expensive for some drivers Ohio drivers are expected to see the costs of auto insurance climb, but not because insurance companies are raising rates for coverage. A new law has been approved by the Ohio Legislature that will increase the minimum level of auto insurance drivers are required to carry in the state. Though the law has been approved by both the Ohio House and Senate, it must still be signed by Governor John Kasich. If the law receives the Governor’s approval, Ohio…

Insurance news from Ohio shows fraud is on the rise

December 11, 2012April 30, 2013

The state has received a record breaking number of allegations of fraudulent claims this year. Officials in Ohio have reported the insurance news that there has been a notable increase to the amount of fraud that is occurring in the industry. The scams are being blamed on the hard economic times and criminal activities in the state. According to the most recent Ohio Department of Insurance news, the combined efforts of insurers, agents, customers, police, and other parties have already generated 4,022 fraud allegations in the state as of last…

Auto insurance minimum coverage required in Ohio may rise

December 10, 2012April 30, 2013

Drivers in the state may see a number of changes to their vehicle coverage over the next while. Ohio auto insurance customers have just discovered that there may be a number of different coverage changes that they will be seeing over the next year and beyond. This is due to the fact that House Bill 278 was passed by the Ohio House of Representatives. Should the bill be approved, it will mean that the minimum auto insurance amounts that are required for valid proof of financial responsibility in the state,…

Ohio Insurance Institute reports on June/July storms

August 15, 2012August 14, 2012 S.Vagus

Storms do more than $433 million in damage Powerful storms that hit Ohio between June 29 and July 2 this year have produced at least $433 million in damages, according to the Ohio Insurance Institute, a state insurance industry trade group. The financial losses make the storms some of most costly natural disasters the state has experienced in its history. The storms are expected to have a significant impact on the state’s insurance industry, though insurers are poised to mitigate the financial aspects of the disasters and provide support to…