Live Insurance News

Senator Rubio outlines plan to address health insurance system in the US

August 21, 2015August 19, 2015 S.Vagus

Rubio provides insight into his plan to reform health care The political wheel in the United States has begun to turn once again as presidential campaigns begin to kick off throughout the country. Many have announced their campaign for the presidency, including Senator Marco Rubio, who believes he may be able to change the way the country’s health care system works. Senator Rubio recently outlined his plan to change the health care system and how health insurance works, seeking to make the most significant changes the country has seen since…

Millions of people have found health insurance coverage in the US

August 19, 2015August 17, 2015 S.Vagus

Survey shows that 7 million people have found coverage through exchanges in the US The National Center for Health Statistics has released the results from a new survey, showing that more than 7 million people have managed to find health insurance coverage due to the provisions of the Affordable Care Act. The federal law had generated a great deal of controversy as it made its way through the legislative process, with many lawmakers suggesting that it would do more harm to the country’s health care system than good. In most…

New hack could mean trouble for the auto insurance industry

August 17, 2015August 15, 2015 S.Vagus

Hackers have managed to take remote control of a vehicle Hackers may be presenting the auto industry with a serious new challenge. Recently, hackers were able to take control of a Jeep Cherokee through the vehicle’s entertainment system. The hackers in question are Charlie Miller and Chris Valasek, two security specialists that have begun to focus on the hackability of vehicles. The Jeep was hacked in order to showcase the risks that the auto industry, and by extent insurers, now face as digital threats become more prevalent. Hack allows Miller…

Auto insurance fraud is coming back to the UK

August 14, 2015August 13, 2015 S.Vagus

Insurers are seeing a growing number of fraudulent whiplash claims coming from drivers and other parties Drivers in the United Kingdom can expect to pay more for their auto insurance coverage, as the plague of fraudulent whiplash claims has returned and may be worse than ever. Fraud has placed many insurers under greater financial pressure, and falling profits typically mean higher insurance premiums. As fraud becomes more prevalent, drivers may see an increase in their auto insurance premiums of an average of 15% next year. Fraud is becoming more common…

Insurance industry needs to evolve to handle greater risks

August 12, 2015August 11, 2015 S.Vagus

Canada’s insurers, and other parties, will have to adapt to the growing frequency of natural disasters Severe weather is beginning to have a major impact on Canada’s insurance industry. As powerful storms hit populated areas, claims are beginning to apply significant financial pressure on insurance companies offer coverage for property and vehicles. The Insurance Bureau of Canada believes that the time has come to address the rising costs associated with severe weather. Doing so may help mitigate the costs that consumers see and help the insurance industry become more resilient…

Munich Re enters into the private flood insurance market of the US

August 10, 2015August 8, 2015 S.Vagus

Insurer offers new product for homeowners in the United States Munich Reinsurance America has introduced a new insurance product in the United States that may be a benefit for some homeowners. It is a new flood insurance product designed for those living in low-to-moderate hazard flood zones in inland parts of the country. The new product will provide these homeowners with new options when it comes to flood protection, as this coverage had, for years, only been available through the National Flood Insurance Program (NFIP). NFIP will have competition when…

Arizona health insurance co-op is finally finding some traction

August 7, 2015August 5, 2015 S.Vagus

Insurance co-op reports skyrocketing enrollment numbers this year Arizona’s non-profit health insurance co-op has seen a major increase in enrollment following poor enrollment predictions in 2014. Last year, the co-op was audited by the Department of Health and Human Services, which found that enrollment numbers were abysmal, with the co-op only providing coverage for some 869 people. This is only 4% of the co-op’s enrollment target of 24,000, making it one of the worst performing health insurance co-ops in the country. Meritus is finding traction among consumers in Arizona Despite…