Vienna Insurance Group, one of the largest insurers in Europe, is showing concern over the regions international insurance markets. According to the company’s forecasts, the markets are becoming stagnant and, in the best case scenario, would remain as such for the remainder of this year. This stagnation is likely a product of how consumers are responding to the ongoing economic crisis that is spreading throughout Europe. Because of this growing trend, the insurer has announced steps that it will be taking to ensure its place as one of Europe’s most influential companies.…
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IIHS names 2013 Mazda CX-5 compact crossover SUV its “Top Safety Pick”
The Insurance Institute for Highway Safety (IIHS) has given the highest safety rating to the new compact crossover SUV, the 2013 Mazda CX-5, and has named the vehicle its “Top Safety Pick”. After undergoing the four IIHS tests, the Mazda CX-5 received a “Good” rating each time, which is the highest possible crash safety rating. According to the Mazda North American Operations president and CEO, Jim O’Sullivan, this vehicle is the first from the manufacturer “to receive the full suite of SKYACTIV technologies, which focuses not only on fuel efficiency…
Read MoreErie Insurance survey shows customers distracted from coverage by amusing advertising
Erie insurance has released the results of its latest survey that has shown that insurers have released so many humorous ads that are focused on the price of their products that consumers have been distracted from the actual coverage. Among the participants in the survey, 68 percent said that the majority of the funny auto insurance ads were focused on the money savings they provide. Though these same respondents said that the coverage that a policy provides is the most important thing to consider when buying insurance, 74 percent said…
Read MoreAmerican housing market shows first signs of rebounding benefiting insurers
To the benefit of many insurance companies, the housing market in the United States is beginning to show some signs of recovery as mortgage companies begin their reappearance. New home loan guarantor, NMI Holdings, has just announced its hiring of the FBR & Co. investment bank in order to help in the raising of $550 million following the collapse of three of its competitors that were taken down by record homeowner defaults. Only one out of those three competitors remains anywhere above credits at a junk grade. Equally, Essent Guaranty…
Read MoreDepartment of Health and Human Services says that health insurance rates are too high in nine states
The Department of Health and Human Services (HHS) has announced that health insurance rates in nine states are far too high to be reasonable. HHS Secretary Kathleen Sebelius has determined that these rates are excessive under the authority granted to the agency by the Affordable Care Act. The law gives federal and state insurance regulators the authority to review health insurance rate increases of 10% or higher and determine whether they are necessary. The insurance companies in these nine states will be requires to justify their rates or make changes…
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