Live Insurance News

New mortgage insurance unit spin-off is added to AIG’s current goals

January 26, 2016January 24, 2016 H. Cutner

AIG Insurance company CEO - Building in Manhattan

American International Group has made the decision to look into a spin-off of that branch of its business. American International Group (AIG) is now in the midst of the pursuit of a spin-off of its existing mortgage insurance business, according to several reports based on sources who are familiar with the matter. This new strategy from the insurance company could come at precisely the time that goes up against Carl Icahn. Despite the attempts that the company is seeking to make to spin-off its mortgage insurance business – which made…

California approves new auto insurance products for TNC industry

January 26, 2016January 24, 2016 Marc

New insurance products will be available for TNC drivers California officials have approved new auto insurance products that will affect the Transportation Network Company (TNC) space. Companies like Uber and Lyft have had a major impact on the insurance space, largely due to concerns that these companies are not providing adequate coverage for their drivers. Insurers are beginning to take note of the rising popularity of TNC and, in order to mitigate risks, have begun offering new insurance policies. State Farm is among these companies. State Farm is among several…

Insurance industry offers advice for coping with winter storms

January 25, 2016January 24, 2016 Julie Campbell

The mega-storm that occurred this weekend came as a hard reminder to be prepared for the weather. The winter storm that walloped the East Coast, last weekend, came as a brutal reminder of the importance of being prepared for dramatic weather at this time of year and the insurance industry is continuing to remind people of the importance of following the right safety tips. There are ways to give yourself and your family the best possible chance of safely riding out a winter storm. Aside from stocking up on food,…

Insurance Information Institute reveals winter-related payouts from 2015

January 25, 2016January 24, 2016 G. Turner

homeowners insurance information institute winter snow ice

American insurers paid policyholders $2.9 billion for damage related to winter weather. The Insurance Information Institute (I.I.I.) has released its data with regards to the payments made by insurers in the United States for claims relating to winter weather, and what they’ve said is that those payouts reached a total of about $2.9 billion, last year. That said, despite those winter-related payments, the I.I.I. says insurance companies are still financially strong. Despite the payments the insurers faced in the U.S., the Insurance Information Institute explained that those companies will still…

Millions of employees find health insurance through exchanges

January 25, 2016January 24, 2016 S.Vagus

Accenture report shows that 8 million employees have acquired coverage for 2016 A new report from Accenture shows that health insurance coverage has become more available for many employees in the United States. The report has found that the number of employees using health insurance exchanges to find coverage reached 8 million for 2016 coverage. This is an increase from the 6 million employees that sought health insurance policies through exchanges for 2015 coverage. Many employers are finding it easier to provide their workers with benefits through insurance exchanges. Mid-sized…