Live Insurance News

Price optimization being used by auto insurance companies in Oklahoma is coming under fire

January 7, 2016January 5, 2016 Nordstrom

State senator aims to put price optimization to rest Oklahoma drivers have been seeing their auto insurance premiums steadily grow over the past few years, and one of the state’s legislators want to put an end to a practice that has contributed to this problem. In Oklahoma, many insurers use price optimization as a way to price coverage, which leverages a consumer’s credit score as a factor in determining premiums. Senator Rob Standridge intends to introduce new legislation that will prevent insurers from using price optimization. Senator to introduce new…

Insurance industry would prefer data security to tech innovation

January 6, 2016January 5, 2016 Julie Campbell

home security cybersecurity insurance industry

Cybersecurity is already among the top trends in many markets but especially among insurers. As the year is launched with the announcement of all new forms of technology, such as those being demoed at the Consumer Electronics Show (CES), the insurance industry is hoping that a larger focus will be placed on cybersecurity and data security. A number of high profile data breaches occurred throughout 2015, including among large insurance companies. Following the data breaches of health insurers Anthem and Premera, the insurance industry was given the evidence it needed…

Minnesota extends health insurance to some 64,000 people

January 6, 2016January 5, 2016 Marc

Minnesota Health Insurance Trump Administration Lawsuit

Many had been set to lose their insurance coverage in 2016, but state officials ensure they will have the policies they need An estimated 64,000 people in with public health insurance coverage in Minnesota were set to lose their coverage in 2016, but the state has decided to extend this coverage into the future. This will ensure that these people have the insurance coverage that they need, allowing them to avoid a federal fine that will be issued to those without active health insurance policies. The 64,000 people that were…

Texas sees an increase in those enrolling in health insurance exchange

January 6, 2016January 5, 2016 S.Vagus

HHS finds that 56,000 people have enrolled in federal insurance exchange last week The number of Texas residents enrolling for health insurance coverage through the state’s exchange has grown last week. The Department of Health and Human Services recently released a report showing that some 56,000 people have enrolled for coverage in Texas through HealthCare.gov as of last week, bringing the total number of Texans signing up with the exchange to approximately 1.1 million. Despite the growth, enrollment in Texas has lagged behind that being seen in other states. Many…

Insurance companies face strain from series of large U.K. storms

January 5, 2016January 3, 2016 Julie Campbell

UK Flood homeowners Insurance companies Flood Re Plan

The costs associated with Storms Desmond, Eva and Frank has insurers starting to feel some pressure. Britain has faced one damaging storm after the next, as Storms Desmond, Eva and Frank brought flooding and winds that left catastrophes behind and that now have insurance companies feeling the pinch from the associated costs. In fact, many of the insurers that are now counting up the total cost are some of the largest in the country. Victims of the flooding have now started to submit their claims to their insurance companies and…