Live Insurance News

Insurance industry in Northern Ireland gets a shot in the arm from US company

May 16, 2013May 25, 2013 Julie Campbell

The American insurer is pumping 650 new jobs into that sector of the economy. Allstate Corporation, the American insurer, is creating 650 new insurance industry jobs at its Northern Ireland technology division, which is bringing a boost in employment to the region which is sorely needed as it continues to struggle through a deep recession. The insurer has already announced the hiring of 200 staff members in Northern Ireland. Allstate has also projected that it will be adding an additional 450 new hires to the insurance industry in Northern Ireland…

Crop insurance gets bigger as the latest farm bill’s costs rise

May 16, 2013May 25, 2013 H. Cutner

The federally subsidized program will now offer a minimum of three new forms of protection. The most costly part of the safety net for American farmers, the federally subsidized crop insurance program, will now have at least three new forms of coverage available to growers across the country. The farm bill draft is currently pending in both the Senate and the House of Representatives. It has been suggested that the new form of crop insurance could generate a cost that is 10 percent higher than the expense it currently generates.…

Health insurance for employees is on the rise in Massachusetts

May 16, 2013May 14, 2013 G. Turner

Employer sponsored coverage is becoming more common among workers within the state. According to the data in a recent report, the percentage of employees in Massachusetts who are opting to take part in their employer’s sponsored health insurance coverage instead of taking home a larger amount of pay has increased since 2006, when the state overhauled its medical coverage system. The report also suggested that the federal Affordable Care Act may replicate this same result. The share of employees who have health insurance through their employment increased from having been…

Homeowners insurance confusion is common in California

May 15, 2013May 25, 2013 Nordstrom

Confusion concerning homeowners insurance protection is a major problem in California Confusion is a common problem among a large portion of Californians when it comes to the basics of homeowners insurance. A new poll from InsuranceQuotes.com, an insurance aggregator, shows that many people do not accurately know what their homeowners insurance policies cover. This confusion is not only common in California, of course, and has been documented elsewhere in the U.S. Homeowners insurance confusion was recently highlighted as a major issue that exacerbated the impact of 2012’s Hurricane Sandy. Homeonwers…

Bank heist may have lasting impact on insurance industry

May 15, 2013May 25, 2013 Logan B.

Insurance industry may feel the impact on recent heist The insurance industry may be set for a shock in the wake of one of the world’s largest bank heists. Late last week, a global cyber crime syndicate successfully stole $45 million from two banks in the Middle East. This was accomplished by hacking into the credit card processing firms that were used by the banks. The funds were withdrawn from numerous ATMs in 27 countries, including the U.S. While this money is typically insured by the governments associated with banks…