Live Insurance News

Driverless cars could be a risk for the auto insurance sector

March 6, 2015March 7, 2015 S.Vagus

Insurers suggest that self-driving cars could disrupt the insurance market in the future Driverless vehicles have reached a major milestone. Three auto insurance suppliers and an auto parts manufacturer have included driverless cars in their annual reports concerning securities. In these reports, the companies noted that self-driving vehicles are a risk, which could eventually disrupt their business. The reports highlighted the technology behind these vehicles, which could become a major force in the auto insurance space. Companies are noting that driverless vehicles represent a significant risk in the future, but…

Berkshire insurance exec could one day replace Warren Buffett

March 5, 2015March 4, 2015 Julie Campbell

The billionaire CEO and chairman of the company said that he would support Ajit Jain if he should ever want the top spot. Back in 2011, at a Bengaluru news conference, Warren Buffet had said that he would be willing to support Berkshire insurance exec Ajit Jain, if he should ever wish to step up into the position of CEO and chairman. Speculation has recently been rising among the company’s investors, with regards to who will succeed Buffett. Warren Buffett, who is currently 84 years old, has yet to give…

Senators target National Flood Insurance Program

March 5, 2015March 4, 2015 Logan B.

Flood insurance generates more controversy in the US Two Senators from New Jersey have taken issue with the National Flood Insurance Program. The program is typically the only place for homeowners to find flood protection in the United States, but the program has been beleaguered by financial problems for years. These financial issues hit a height in the wake of 2011’s Hurricane Sandy, which caused an estimated $68 billion in damage in several states along the eastern coast of the country. Senators believes that federal insurance program may be avoiding…

Lawmakers want to do away with Rhode Island’s health insurance exchange

March 5, 2015March 4, 2015 Nordstrom

Lawmakers want the federal government to control the state’s health insurance exchange Some lawmakers in Rhode Island want to see control of the state’s health insurance exchange ceded to the federal government. The new director of the exchange, however, wants the state to remain in control of the exchange, called HealthSource RI. Director Anya Rader Wallack believes that the state has managed its own exchange successfully, and should continue to do so for the sake of the health insurance market. The Rhode Island exchange has managed to perform well while…

Health insurance exchange in Tennessee could be blocked

March 4, 2015March 3, 2015 Julie Campbell

Senator Brian Kelsey has proposed a bill that would stop the state from being able to launch its own marketplace. Tennessee Senator Brian Kelsey (R-Germantown), who played a central role in ending Governor Bill Haslam’s (R) Medicaid extension plan for 280,000 residents of the state within low incomes, is now setting his sights on 230,000 people who already have coverage under the federal health insurance exchange. The bill that Sen. Kelsey has proposed would block the state from forming its own online insurance marketplace. The state of Tennessee would not…