Live Insurance News

Consumers are favoring shopping online for auto insurance coverage

November 25, 2015November 24, 2015 S.Vagus

Report highlights the trends directing consumer purchasing behavior More consumers are beginning to shop online for auto insurance coverage, according to a new report from comScore. The report highlights the trends that are beginning to emerge in the overall auto insurance industry, with these trends likely to play a major role in directing the shopping behavior of consumers in the future. The report is comprised of information gathered from more than 3,000 drivers throughout the United States, with this information being gathered between August and September of this year. Majority…

Health insurance premiums for HealthCare.gov policies are set to rise

November 23, 2015November 22, 2015 S.Vagus

Insurance premiums for HealthCare.gov policies to rise by an average of 15% next year Those with health insurance coverage through HealthCare.gov are likely to see higher premiums next year unless they switch policies, according to a report from Kaiser Family Foundation. Consumers with insurance coverage through the federal exchange marketplace have been encouraged to shop around for new policies, as this would allow them to save some money. On average, Kaiser predicts that those not shopping around for different policies will see an increase in their premiums of approximately 15%.…

Health insurance scam uncovered in Kansas

November 20, 2015November 18, 2015 S.Vagus

Insurance enrollment scam has been discovered operating in the state A health insurance enrollment scam has been uncovered in Kansas. After receiving several complaints from consumers, the Kansas Association for the Medically Underserved has discovered the scam. Consumers have been reporting that an “aggressive marketer” claiming to represent the National Health Enrollment Center has been calling, attempting to encourage people to enroll through a system not affiliated with the state’s health insurance exchange. The culprit also claims to sell insurance coverage directly, allowing consumers to avoid the exchange marketplace. Complaints…

New coalition takes aims at health insurance mergers in the US

November 18, 2015November 17, 2015 S.Vagus

Consumer groups form coalition to target mergers of health insurance providers Two consumer advocacy groups in the United States have formed a new coalition in order to create pressure of antitrust regulators concerning the merger of large insurance providers. These mergers would cut the number of for-profit health insurance companies from five to three, which may have a dramatic impact on consumers in terms of insurance options and costs. The coalition may be able to shed more light on the potential impact that mergers will have, encouraging state regulators to…

Vermont businesses continue to face challenges when it comes to health insurance

November 16, 2015November 15, 2015 S.Vagus

Small businesses continue to experience frustration with state’s insurance system Businesses in Vermont have been having some issues with health insurance for the past few years. Vermont is the only state where businesses with 50 or fewer employees must purchase health insurance plans through a specially designed exchange marketplace. The marketplace is meant to serve as an effective and efficient way businesses can provide their employees with insurance coverage, but it has been quite dysfunctional for small companies. A new insurance exchange system could be a costly issue for the…

California residents are being encouraged to purchase flood insurance

November 13, 2015November 12, 2015 S.Vagus

FEMA urges homeowners to obtain flood protection ahead of El Nino Homeowners in California are being urged by the Federal Emergency Management Agency (FEMA) to purchase flood insurance ahead of the arrival of the El Nino storm system this winter. The National Oceanic and Atmospheric Administration predicts that El Nino will be particularly powerful this year and may strike the Bay Area in as little as two weeks from now. Notably, the majority of homeowners in the state do not have flood insurance coverage, largely due to a lack of…

Cyber insurance is become more important for the world’s businesses

November 11, 2015November 10, 2015 S.Vagus

Businesses are facing major threats in the digital world The global insurance industry is becoming more involved in cyber protection, especially as digital attacks become more common. Last year, Sony was hit by a data breach from hackers suspected of hailing from North Korea. The data breach would have caused Sony more than $100 million in losses, but the company had purchased cyber insurance protection, which meant that Sony was only liable for one-third of that amount. Now, more companies are acquiring cyber insurance and insurers are beginning to view…