Live Insurance News

Hacks are causing cyber insurance rates to skyrocket

October 21, 2015October 20, 2015 S.Vagus

Insurers are raising premiums for the cyber insurance coverage that they provide Over the past two years, companies in the United States have been targeted by aggressive cyber attacks. This has prompted insurers to increase premiums on cyber insurance coverage by a massive margin. Some companies are perceived as being a high risk, which means that they are seeing higher costs when it comes to protecting themselves from digital attacks. Insurers are not just raising premiums on cyber insurance coverage, however, and many companies are looking for a solution to…

Insurance co-op in Oregon shutting down

October 19, 2015October 18, 2015 G. Turner

The state is losing a cooperative from its 2016 marketplace, as it has started a “wind down of business”. An Oregon insurance co-op is now stepping out of the state’s health plan market for next year as it has entered into a “wind down of business”, claiming that the recent announcement from the government that it will honor only 12.6 percent of the risk corridor payment of insurers is to blame. This withdrawal of the co-op will mean that there will be 15,000 members in the state without coverage. The…

Allstate announces good insurance news by meeting important goals

October 2, 2015September 30, 2015 Julie Campbell

The insurer has reached some of its long-term sustainability and social impact goals. Allstate has released some positive insurance news through its 2014 Corporate Responsibility Report, in which it underscored some of its central milestones that the insurer has achieved based on some of the key commitments that it has made. These milestones have been a part of the insurance company’s ongoing efforts to address some serious societal issues. Among the issues being addressed are safe driving among teens, domestic violence, and environmental sustainability. At the core of Allstate’s insurance…

Allstate insurance company named among 100 best companies for working mothers

September 30, 2015September 29, 2015 Julie Campbell

Working Mother magazine has rated the insurer as among the best place in 2015 to be employed. Working Mother magazine has released the list of businesses that make up the 2015 Working Mother 100 best Companies and it has named the Allstate insurance company as being among those that are the most committed to implementing policies and programs that make it possible for working moms to be both the best employees and the best parents they can. Allstate Insurance has made a concerted effort through a range of strategies that…

Consumers in Gen Y least likely to be loyal to one insurance company for all policies

September 21, 2015September 19, 2015 G. Turner

generation y insurance company Laughing Young Woman Socializing in a Party Setting.

A recent J.D. Power study showed this generation is most inclined to split their coverage across multiple insurers. Generation Y has now become the largest home buyer consumer segment in the country, and it is also the most likely to unbundle (also known as splitting) their coverage needs instead of choosing only one insurance company for all of their policies. They are splitting their insurance policies at a greater rate than any other generational group. For an insurance company, this actually provides quite the opportunity. The J.D. Power 2015 U.S.…