Live Insurance News

Insurance industry reform call by Hillary Clinton at COP28 climate panel

December 6, 2023December 5, 2023 Julie Campbell

The former US Secretary of State said that it’s time for countries to “rethink” the coverage sector. Former US Secretary of State Hillary Clinton spoke at a COP28 climate panel at the start of this month, calling for insurance industry reforms. The purpose is to address the sector’s issues as insurers increasingly withdraw protection against climate perils. Among the countries and people most impacted by climate change are those in lower-income nations. They also face the greatest struggle to access coverage to protect themselves against economic effects. “We need to…

The Insurance Industry is Struggling to Recruit New Talent—How New Solutions Are Helping

December 4, 2023December 5, 2023 Archie Walsh

Recruitment has been a struggle across many industries, including insurance. Though insurance industry employment rose 1.83% in 2022, there were still 386,000 open jobs by the end of that year and a 14.7% turnover rate, with most of that turnover being voluntary. Economic challenges and a shift in working culture have become significant challenges for many insurance carriers to adapt to, impacting the hiring process. The industry is also aged, with many organizations struggling to appeal to a younger talent pool. As such, the need for more strategic recruitment practices and…

Crop insurance claims provide little help to some Maine apple growers

December 1, 2023November 30, 2023 Logan B.

Crop insurance - Person Collecting Apples from Tree

As the harvest season comes to a close, growers have been hit by a massive 50 percent loss. Right after the end of the harvest season, Maine apple growers started filing their crop insurance claims to help cover the losses they experienced during this difficult growing year. Adjusters from their insurers have been visiting the orchards to verify that the facts are as reported. The issue leading to the crop insurance claims occurred back in late May when a snap freeze annihilated the apple blossoms on trees that were just…

Texas auto insurance rates are climbing because of lousy drivers and expensive repairs

November 30, 2023November 29, 2023 Nordstrom

The Insurance Council of Texas released a statement about climbing premiums for Texan motorists. The Insurance Council of Texas recently released a statement to explain the rapidly rising auto insurance rates in the state that have been occurring since 2021. There have been several issues that have contributed to climbing premiums, but crashes top them. According to the community director of communications and public affairs for the council Rich Johnson, insurers have been slowly increasing their auto insurance rates since 2021. That year saw a substantial 20 percent increase following…

Employees want pet insurance from the benefits offered by their employers

November 22, 2023November 21, 2023 G. Turner

Pet insurance - woman on computer with dog

Medical coverage for animals has become super trendy, particularly since the pandemic. Employers seeking to be competitive when seeking the best employees to join their teams are increasingly turning to pet insurance as an additional part of worker benefits, due to the massive draw it has developed. Employees want more options from their benefits, and caring for their furry family members has weight. For even greater value to many employees, pet insurance coverage extends not only to cats and dogs, but also other types of animals, such as birds (even…