Live Insurance News

Insurance fraud is a costly problem

October 26, 2013October 25, 2013 S.Vagus

Insurance fraud makes coverage a complex matter Insurance can be a very tricky subject to navigate. Every sector of the insurance industry is awash with regulations, standards, and complex business practices that can make understanding coverage a chore at best. The complexities of insurance can cause a great deal of confusion, even among those that should not be confused. In the U.S., state and federal lawmakers often pass legislation in an attempt to mitigate the dangers that exist within the insurance sector. Much of this legislation institutes regulations that govern…

Insurance news shows the mis-selling complaints in the U.K. continue

October 25, 2013October 22, 2013 G. Turner

UK cyber Insurance industry News united kingdom

A recent report issued by the watchdog organization has revealed that banks will need to provide more in payouts. The Financial Ombudsman Service in the United Kingdom has now stated that the number of complaints that it has received with regards to the insurance news of the mis-selling scandal in the country have skyrocketed within the six months that ended in September. This has increased the odds that banks will be required to pay a higher amount for compensations. The Financial Ombudsman Service is the official watchdog that steps in…

Insurance news study shows artists twice as unlikely to have health coverage

October 23, 2013October 21, 2013 Julie Campbell

The research determined that the primary cause of the uninsured status is the cost of a plan. According to the results of a study that are making insurance news headlines after having been released by the Future of Music Coalition and the Artists’ Health Insurance Resource Center, twice as many artists such as actors, musicians, dancers, and others are likely to be uninsured as the general population. These creative individuals are among the demographics least likely to have health plans. The research making this insurance news involved a survey of…

Insurance industry worldwide standards are increasing uncertainty

October 21, 2013October 19, 2013 G. Turner

Insurance industry standards and technology

Fitch Ratings has warned that new plans by the IAIS could make issues of certainty worse. According to a statement from Fitch Ratings, the intentions of the International Association of Insurance Supervisors (IAIS) to come up with a global coverage capital standard based on risk will only bring about another layer of uncertainty for the insurance industry. The goal of the IAIS is to have the standard created and fully in place by the year 2019. This was pointed out by Fitch Ratings in the statement that they recently issued,…

Health insurance co-ops offer an alternative to exchanges

October 21, 2013October 21, 2013 S.Vagus

Health insurance co-ops are receiving little attention despite the benefits they offer Health insurance exchanges are receiving a great deal of attention throughout the U.S., but these marketplaces are not the only way for consumers to obtain coverage. Health insurance co-ops are another option that could offer coverage to consumers looking for affordable policies. These co-ops are generally non-profit organizations that are managed by their members, offering more consumer-oriented insurance plans than their counterparts in the private market. These co-ops have received relatively little attention when compared to exchanges. Co-ops…