Live Insurance News

Insurance costs force the cancellation of Battle of Britain fly-past

September 11, 2015September 10, 2015 G. Turner

The Shoreham crash has caused the premiums for these performances to spike, making this one cost prohibitive. The prohibitive insurance costs associated with covering a fly-past of 20 spitfires for a commemorative ceremony of the Battle of Britain have cancelled this portion of the event. The reason is that the premiums have spiked dramatically following the crash at the Shoreham Airshow. That disaster occurred in August and killed 11 people. Now, it has led the insurance costs associated with air shows to increase to the point that they may no…

Insurance costs are driven skyward by some ailments more than others

July 28, 2015July 24, 2015 H. Cutner

New research has revealed the catastrophic ailments are the most expensive for insurers to cover. The results from a recent study that looked into health insurance costs has now revealed the 10 types of catastrophic ailments that are the priciest for insurers to have to cover as a part of their plans. Among the leading types of condition is going into labor early and having a preterm baby. Preterm births occur about 450,000 times every year and have been found to be among the highest insurance costs, says the new…

Software is making the insurance industry more efficient

September 2, 2014August 31, 2014 Marc

Insurance news technology internet of things

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

Long term care insurance coverage costs continue their climb

May 16, 2014May 14, 2014 G. Turner

The price tag for these often vital policies are ever on the rise and show no sign of slowing down. For many people, the type of coverage that is provided by long term care insurance is an absolute necessity, because if they reach the point that they are no longer able to perform their own daily living activities – such as dressing, bathing, grooming, and preparing their own meals – they would not have the financial ability to pay for the assistance that they would require. Among those without coverage,…

Homeowners insurance costs eclipse mortgages in Florida

March 28, 2013April 30, 2013

Florida homeowners now paying more for insurance than for their homes One of the highest expenses facing Florida families has long been the mortgage on their homes. Mortgages in the state, just as elsewhere throughout the U.S., put a large amount of financial pressure on families. While mortgages have been the highest expense for many families in the state, these families are beginning to pay more for their homeowners insurance coverage, according to the Insurance Information Institute. The non-profit organization suggests that consumers are paying more for their homeowners, auto,…

Thinking of Buying a Car? Don’t Forget about the Costs of Insurance and Gas

March 24, 2013April 21, 2014 Guest Author

New car buyer insurance information Many people are prepared to haggle over the price of a new car in order to get the best deal possible. However, they often forget about the extra expenses that can add up over the years, which are affected by the type of car they choose. If you are planning on buying a new car, don’t rush into any decisions. Instead, have a sit down about some of the other factors that can affect the running costs of the car over the years, and take…

Insurance industry costs weren’t kind to Lloyds Banking

March 5, 2013March 5, 2013 G. Turner

The expenses from that sector have led the company to experience a loss in 2012. Lloyds Banking Group has been able to essentially slash its losses in half in 2012, despite the fact that it had to come up with a tremendous amount of money to set aside in order to make payments for the insurance industry scandal in which it mis-sold coverage products. Its full year loss has now been revealed to be £1.34 billion ($2 billion) which is much lower than its 2011 deficit. The bank has now…