Live Insurance News

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…

Insurance companies are seeing rising claims following a rough winter

May 8, 2015May 7, 2015 Julie Campbell

Winter Home Care insurance companies external battery charger

Insurers throughout the northeast are stating that they have a greater loss-report volume. From start to finish, this past winter was a treacherous and highly damaging one in the northeastern United States, and now that it has finally come to a close, insurance companies are starting to see another increase in claims from homeowners who are experiencing a new wave of discovered damages. As the snow and ice melt away, they are revealing the true extent of the destruction that they’ve left behind. So far, claims to insurance companies have…

Fewer people are switching auto insurance carriers

May 8, 2015May 7, 2015 S.Vagus

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More consumers are shopping around for coverage, but not purchasing it More people are shopping around for auto insurance coverage, but fewer are actually changing their carriers, according to the latest J.D. Power 2015 U.S. Insurance Shopping Study. Shopping for insurance coverage has become quite easy, with many consumers choosing to do so from their mobile devices. With shopping becoming easier, consumers are beginning to look for alternatives to their existing auto insurance policies, but they may not be buying new policies even if the policies they find are better…