Live Insurance News

Discounted auto insurance will extend well beyond Detroit

June 8, 2015June 6, 2015 Julie Campbell

The Senate Insurance Committee has passed an amended version of the plan put forward by Mayor Mike Duggan. Senators in Michigan have now passed an amended version of the reduced rate auto insurance plan that had been put forward by Detroit Mayor Mike Duggan, which would provide discounted coverage to cities that have a minimum population of 500,000 and in which at least half of all of the drivers are insured. The amendments to the D-Insurance plan have broadened the reach of the program to smaller cities. The senators voted…

Insurance companies scramble to find out if Chinese hack reached them

June 8, 2015June 6, 2015 G. Turner

cyber insurance companies security mobile

The industry is attempting to determine if the hackers that breached government employee files also affected them. Cybersecurity experts are cautioning insurance companies that the same Chinese hackers that were behind the data breach of a minimum of four million government employee files may also have been responsible for similar data thefts at two health care giants: Premera and Anthem. The tremendous hack to the Office of Personnel Management was likely not the first large scale American hack for the group. There have been a series of different attacks that…

Millennials are unsatisfied with interaction with homeowners insurance companies

June 8, 2015June 6, 2015 S.Vagus

Insurers are having trouble interacting with Millennials Homeowners insurance companies may be failing to meet consumer expectations when it comes to interaction, according to a new study released by J.D. Power, a global marketing research and information services firm. The study highlights “Gen Y” consumers, typically referred to a Millennials, as having the lowest satisfaction with insurers and their ability to interact with consumers. This demographic typically represents those born in the early 1980s and early 2000s and these people are becoming first-time homeowners and have high expectations of the…

New motorcycle insurance options launched by SGI

June 5, 2015June 4, 2015 Julie Campbell

The changes to the available coverage have been sparking controversy among riders since they were first proposed in 2013. The Government of Saskatchewan, a province of Canada, has now announced that it will be adding more motorcycle insurance options for riders throughout the region, in a move that had first been proposed two years ago. Back when the idea was first suggested, in 2013, many riders expressed anger about the changes. The Saskatchewan Government Insurance (SGI) made this announcement, saying that a new third option will be opening up for…

Health insurance rates to go up in Kentucky

June 5, 2015June 4, 2015 Logan B.

Kentucky insurance exchange health insurers

Insurers seek rate increases for policies sold through the state’s health insurance exchange The majority of the companies participating in Kentucky’s health insurance exchange are looking to raise premiums next year. These companies are citing the provisions of the Affordable Care Act as the reason for rate increases. The Kentucky Department of Insurance has receive rate increase proposals from most of the companies selling policies through the exchange. If approved, coverage through the exchange would become more expensive at the beginning of next year. Kentucky Health Cooperative seeks a 25.1%…