Live Insurance News

US regulator task force to target cyber insurance

February 3, 2015January 31, 2015 Logan B.

Cyber insurance will be the focus of a new task force launched by the National Association of Insurance Commissioners The National Association of Insurance Commissioners has created a new task force that will be focused on cyber security. The task force is meant to increase consumer protection, introducing new regulations that target the insurance industry. Insurers collect valuable information from their customers, but new risks are emerging in the digital world that put this information in danger of theft and exploitation. The new task force could help foster further innovation…

Auto insurance data shows NFL games cause accidents

February 2, 2015January 31, 2015 Julie Campbell

The rate of drunk driving crashes increased on Super Bowl Sunday, as is the case with other football game days. The auto insurance industry has released data that has revealed that when NFL home games are played, as well as during the Super Bowl, car crashes rise, particularly when it comes to those that are associated with drunk driving. The data also revealed that when a home NFL team loses, the car crash rate increases more than when there is a win. Auto insurance statistics have shown that big NFL…

Berkshire Hathaway seeks to enter the insurance industry in Canada

February 2, 2015January 31, 2015 G. Turner

The company has recently announced its intentions for “expanding into the Canadian marketplace.” Berkshire Hathaway Specialty Insurance has now announced that it will be making its way into the “Canadian marketplace,” and that it already has the necessary licenses for conducting business in that insurance industry. Within that country, the company said it, “underwrites on the paper of National Liability & Fire Insurance Company.” National Liability is one of the members of the National Indemnity group of insurers which is owned by Berkshire Hathaway. This move will bring the insurer’s…

Insurance industry now equipped to deal with celebrities

February 2, 2015January 31, 2015 S.Vagus

Celebrity behavior could cause endorsement deals to collapse, but the insurance industry is prepared Celebrities can be a costly investment. The behavior of celebrities is often headline-worthy news, as these people can often be very eccentric and unbridled. This can cause trouble for brands that endorse these celebrities, however, and the behavior of celebrities can cause unexpected damage to a company that supports them. Such was the case with Michael Phelps, the most decorated Olympian of all time, when his antics caused his endorsement deals with several companies to collapse.…

Ohio homeowners insurance premiums vary widely based on ZIP code

January 30, 2015January 28, 2015 Julie Campbell

Consumers throughout the state are paying widely different rates depending on where they live. A new calculation of the homeowners insurance rates being paid across Ohio has revealed that the prices vary quite broadly from one part of the state to the next, depending on where the consumer actually lives. Xenia was found to be the place in which residents were paying the highest home insurance premiums. Overall, Ohio is considered to be a state in which the homeowners insurance rates are considered to be quite low. The reason is…