Live Insurance News

Loan insurance compensation deadline on the way in the UK

October 5, 2015October 4, 2015 G. Turner

British regulators are currently working on setting the date by which consumers must be paid. At the end of last week, British regulators announced that they would likely be starting to work on setting a deadline by which insurers would be required to compensate consumers who were improperly sold loan insurance products. It is expected that the refunds from this process will be costing the banking industry billions of dollars. The Financial Conduct Authority, which is the agency responsible for the oversight of the financial industry in Great Britain, has…

Florida’s Citizens aims to shed more homeowners insurance policies

October 5, 2015October 4, 2015 S.Vagus

Insurer aims to become more consumer friendly by getting rid of additional policies Florida’s Citizens Property Insurance is looking to become more consumer friendly by shedding additional policies in order to become more financially sustainable. Over the past four years, Citizens, which is the last resort provider of homeowners insurance policies for consumers in the state, has shed approximately 1 million policies. These policies have been transferred to private insurers that are honoring the policies that were initially sold by Citizens. The insurer has been shedding these policies in order…

Allstate announces good insurance news by meeting important goals

October 2, 2015September 30, 2015 Julie Campbell

The insurer has reached some of its long-term sustainability and social impact goals. Allstate has released some positive insurance news through its 2014 Corporate Responsibility Report, in which it underscored some of its central milestones that the insurer has achieved based on some of the key commitments that it has made. These milestones have been a part of the insurance company’s ongoing efforts to address some serious societal issues. Among the issues being addressed are safe driving among teens, domestic violence, and environmental sustainability. At the core of Allstate’s insurance…

Pennsylvania consumers report surprise costs not covered by their health insurance

October 2, 2015September 30, 2015 Marc

Consumers are receiving unexpected bills from medical professionals that are not covered by their insurance policies Unexpected medical bills are proving to be a surprise to many consumers in Pennsylvania. Many consumers have reported surprise charges for their medical care, though they believed that their health insurance policies would cover these costs. The issue is placing some consumers under greater financial strain, as they were unprepared to cover the costs associated with medical care. The problem may be out-of-network care providers, which consumers are unaware of at the time that…

Direct care allows consumers to bypass their health insurance

October 2, 2015September 30, 2015 S.Vagus

More consumers are taking advantage of direct care medical services A growing number of consumers are beginning to bypass their health insurance coverage in order to take advantage of direct care from medical professionals. For many, the high deductibles associated with their insurance coverage is simply too high, which is encouraging them to receive care directly from medical care providers rather than make use of their insurance policies. Some consumers are finding it less expensive to take advantage of direct care rather than use their costly insurance coverage. High deductible…