Live Insurance News

Life insurance industry growth in Singapore flattens

May 12, 2015May 9, 2015 H. Cutner

The results from the first quarter of this year have shown that the total weighted premiums stumbled by 1 percent. Life Insurance Association Singapore has released its data from the first quarter of 2015 and what it has shown is that the industry has experienced a flattened growth rate at the same time that its total weighted premiums fell by a small 1 percent when compared to the same quarter in 2014. When all was said and done, the total weighted life premiums in Q1 arrived at about US$488.68 million…

Self-driving cars could lead to the end of the auto insurance industry

May 12, 2015May 9, 2015 Logan B.

Automated vehicles could be a significant risk for insurers, but not in the traditional sense Automated driving could place the auto insurance industry at risk, at least to some degree. Self-driving cars are already a reality, but such vehicles are currently only available for testing purposes. These vehicles are praised as being safer than their conventional counterparts, largely because they are not operated by humans. Human error is the leading cause of most car accidents, and removing people from the driving equation could have a major impact on the auto…

Predictions for the 2015 tornado season for the insurance industry and its customers

May 11, 2015May 9, 2015 Julie Campbell

The forecast has shown that it is likely that Oklahoma, Kansas, and Texas will be hardest hit. As the 2015 tornado season has already started to arrive with a frightening start, many policyholders and the insurance industry, alike, are now looking to forecasts to see what the rest of the year will be like based on the latest weather analyses. Some of the most recent predictions have said that Tornado Alley will need to be on the watch, this year. The predictions from various sources about the 2015 tornado season…

Auto insurance premiums at GEICO and Allstate are going up

May 11, 2015May 11, 2015 G. Turner

Certain large national insurers will be increasing their rates following a decline in underwriting results. It looks as though even the auto insurance companies that are known for providing affordable premiums are not immune to the need to increase rates every now and then, as GEICO has joined the national insurers that have been increasing their rates. The first quarter’s decline in underwriting profits were down and will be increasing rates to compensate for it. During the first quarter, GEICO saw underwriting profits of $160 million. When compared to the…

Cyber insurance is becoming more common

May 11, 2015May 9, 2015 S.Vagus

Cyber Insurance policies commissioners industry

ABI predicts that the cyber insurance market will become more common in the coming decade Cyber insurance coverage may become the new normal in 10 years’ time. The Association of British Insurers (ABI) has claimed that cyber insurance products will become significantly more common in the United Kingdom and elsewhere by 2025. In early March, a report from Marsh and the UK government showed that only 2% of large businesses in the UK have cyber coverage. This may be a costly problem for these businesses as they face significant risks…