Live Insurance News

Insurance industry in Ohio will add thousands of new jobs

March 27, 2013April 30, 2013

A tremendous number of new positions are opening up among the companies in the state. The Ohio insurance industry is promoting itself as an excellent place to start or accelerate a career with a large number of new job opportunities opening up among insurers within the state. The looming talent gap in Ohio could inhibit growth unless positions are filled and people are trained. The state has identified the financial services and insurance industry as a central sector for employment in Ohio. In fact, it is the seventh biggest state…

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…

Auto insurance minimum coverage in Ohio to rise

February 5, 2013April 30, 2013

Drivers must now carry a larger amount of coverage in order to comply with the state’s law. For the first time since 1969, Ohio has increased the minimum required coverage that drivers must carry in order to be able to legally drive. This new law will come into effect as of December 2013, and will considerably increase the current minimum. In fact, it is estimated that the minimum coverage for drivers will be at least double what it currently is. This will mean that drivers will have to carry auto…

Insurance news brings Permanent General into the American Family fold

January 5, 2013April 30, 2013

The large insurer has now completed the acquisition that it had previously announced. American Family has made insurance news by completing the acquisition of Permanent General Companies, as well as other PGC Holdings Corp. subsidiaries. The purchase of the Tennessee based company had been previously announced and have now been completed. The transaction was for a reported $239 million, which was paid to Capital Z Partners, the previous majority owner. It had been awaiting its final step in order to close the insurance news deal, which was the approval from…

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…