Live Insurance News

Ohio insurance costs deemed affordable, for the most part

March 20, 2014March 23, 2014 H. Cutner

An industry trade association has stated that auto and homeowners coverage can be afforded by most people. According to the latest data that has been released from an Ohio insurance industry trade association, auto and homeowners premiums are low enough that they can be afforded by the majority of the people living within the state. In fact, the rates within this state are notably lower than the average in the rest of the country. A report was issued by the Ohio Insurance Institute (OII) which has said that this state…

Ohio Insurance Department manages to save $23.5 million

February 13, 2014February 10, 2014 S.Vagus

State agency saves funds while also reclaiming money for consumers The Ohio Insurance Department has announced that it has saved significant money in the wake of 2013 while also successfully recovering funds on behalf of consumers. According to the agency, it has saved some $23.5 million last year with the help of various community outreach initiatives. Consumer complaints also pointed the agency in the right direction, allowing state regulators to recover funds that had been taken from consumers either through fraudulent activity or other crimes involving insurance. Consumers complaints help…

Ohio homeowners insurance customers are paying less

February 4, 2014February 1, 2014 H. Cutner

The coverage is the sixth lowest in the United States, meaning that residents are saving compared to other locations. According to a recent announcement made by Mary Taylor, the Lieutenant Governor and Department of Insurance Director, the average Ohio homeowners insurance policy is costing residents of the state notably less than the average resident of the majority of other locations across the country. In fact, she revealed that premiums there are the sixth lowest among all of the states in the nation. The most recent data available from the National…

Auto insurance requirements raised in Ohio

January 28, 2014January 25, 2014 Logan B.

Ohio drivers will have to up their insurance coverage in order to comply with state’s new standards Drivers in Ohio are set to see an increase in their auto insurance premiums as the state increases its minimum insurance requirements. The last time Ohio’s minimum insurance requirements were changed was in the 1960s and state officials suggest that the old requirements are no longer able to cover the costs associated with accidents. This belief is supported by many of the state’s insurers, most of who have been pushing for updated standards…

Health insurance exchange sparks drama in Ohio

May 1, 2013April 30, 2013 Logan B.

Mystery surrounds state’s health insurance exchange In roughly five months, the health insurance exchange in Ohio will begin enrolling residents throughout the states. Approximately 540,000 people are expected to receive coverage through the program, which will be run by the federal government. The problem is that the health insurance exchange is something of a mystery, even to state officials. This is partly due to the fact that the federal government will be in charge of the exchange and the government has not been forthcoming with the particulars of how the…