The Insurance Information Institute (III) has released a new report drawing upon data from the U.S. Department of Labor. The report touches upon the volatility seen in the property/casualty insurance business in October of this year. According to the report, the property/casualty sector performed poorly in terms of employment while other sectors saw promising growth. Overall, the report highlights the turbulent year the insurance industry has faced as a whole and suggests that the trend can continue throughout next year depending on the economic climate. The III notes that 900…
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Progressive to bring in 120 new hires in Austin
Progressive Car Insurance has announced that it will be hiring approximately 120 new people in their claims, sales, and service positions at its contact center in Austin, before the end of the year. These positions come with many attractive qualities, such as flexibility – for example, compressed work weeks and work from home opportunities – a casual dress code, performance bonuses, fitness centers, and on-site medical facilities for both the employees and their families. Recruiting director Katie Koch, from Progressive, said that the insurance company’s employees remain with that business…
Read MoreInsurance Information Institute reports on job loss and gain in the insurance industry
Despite record profits this year, the insurance industry continues to shed jobs. The Insurance Information Institute has released a new report highlighting the losses in the property/casualty insurance sector. Signs of an improving economy may not be enough to help the industry keep its workforce employed, especially when confronted with costly losses due to this year’s natural disasters. The Institute’s report relied on data collected by the U.S. Labor Department’s Bureau of Labor Statistics. Apart from a still turbulent economic climate, the industry has been downsizing as a result of…
Read MoreIndependent insurance agents in Ohio flock to new insurance plan that may be a major hit with homeowners
Last month, Ohio’s Home Value Insurance Company launched a new insurance product dubbed Home Value Protection Insurance. The insurance plan is the first in the nation to provide protection against falling home prices due to a volatile market. Since announcing the plan, more than 75 independent insurance agents have applied to sell it, making Home Value Protection Insurance one of the most popular policies amongst agents in the nation. Given that the plan has no equal, there is an unprecedented opportunity for agents able to sell the product. The coverage…
Read MoreProgressive will employ 150 more people in Colorado Springs in 2011
Progressive auto insurance will be holding job fairs in Colorado Springs, in order to hire 150 more people before the end of the year and are looking for individuals seeking a rewarding career within the industry. The insurer has been named the 2011 Best Company to Work For in Colorado by Colorado Business Magazine, and has also recently been recognized on the Military Times EDGE Best for Vets 2011: Employers list. It is the fourth largest auto insurer in the United States. Progressive will be hosting a number of career…
Read MoreInsurance brokers’ role in new health care system is still unclear
With health care reform on the horizon, the role of the insurance broker is likely to change along with the shifting environment of the health system. Federally mandated health insurance exchanges are going to play a bigger part in people’s search for coverage. The exchanges will, essentially, give consumers the ability to find their own health care policies and purchase these policies electronically. While this will be a popular trend amongst the average consumer, it may also be one that health care professional’s follow, which puts brokers and agents on…
Read MoreMercury experiences growth in homeowner business leading to new hiring
Mercury Insurance has announced that as a result of a significantly increasing customer base, it will be hiring 63 new employees for full-time property claims in its New York, New Jersey, Texas, and California offices. Since the start of 2011, the homeowners business at Mercury has jumped by over 10 percent. According to the human resources director at Mercury, Clarisa Eng, the company is doing their part to put people in the United States back to work. She explained that the new hires will be assisting the company to “provide…
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