Drama washes over insurance industry as companies continue legal battles

Insurance Industry Legal Battles

Insurance industry still in turmoil after economic recession The controversies surrounding the U.S. insurance industry and its relation to the 2008 economic recession continue to prove to be an active battlefield. This week, AIG, one of the country’s largest insurance companies, has announced that it may pursue a lawsuit against Bank of America’s Countrywide insurance unit. The lawsuit accuses Countrywide of playing a role in the financial disaster. AIG was cleared to pursue this lawsuit after U.S. District Judge Mariana Pfaelzer approved of such action this week in Los Angeles,…

Read More

Study suggests recovery for independent insurance agents and brokers

A new study from the Independent Insurance Agents & Brokers of America (IIABA), the largest insurance agent and broker association in the U.S., brings some good news regarding the state of the nation’s independent agencies. The 2011 Best Practices Study outlines the organic growth that is currently moving throughout the industry. The study notes that 2010 was a year of promising growth and that the trend has continued throughout this year as well. The IIABA says that independent agencies are showing real signs of recovery for the first time since…

Read More

New U.S. Census data highlights the alarming rise of poverty and the falling numbers of insured people

The U.S. Census Bureau has released their latest findings on national poverty, income and insurance coverage. The Census of 2010 has highlighted some of the little known and often ignored issues that face a great many U.S. citizens. Many federal legislators have been waiting for the results of the Census to determine which issues need the most attention. The problems, however, may be far worse than anyone had imagined. According to the agency, poverty and insurance are the two most glaring issues facing the nation. The Census Bureau found that…

Read More