Live Insurance News

Travel insurance policies may become necessary under new US government policies

March 7, 2017March 6, 2017 Julie Campbell

People planning to take a vacation or business trip in the United States may need additional coverage. With the changing restrictions for travelers, travel insurance policies that allow policyholders to “cancel for any reason” may become much more important. While these more expensive forms of standard travel insurance have always protected people against losses from having to make last minute changes – or cancellations – to their travel plans, travelers may now need it in case they are turned away from the United States. The standard insurance policy for travelers…

Professional liability insurance is becoming more popular among American police

April 1, 2016March 30, 2016 Julie Campbell

A growing number of U.S. law enforcement officers are protecting themselves against lawsuits. The largest police union in the United States, the Fraternal Order of Police, has recently reported that law enforcement officers are buying professional liability insurance on an increasing basis as a result of concerns over being sued for their actions while on duty. In the span of one year, running from July 2014 through July 2015, there was a double-digit increase in coverage. Within that span of time, the union reported that members buying professional liability insurance…

Greek insurance market is taking a dive

March 31, 2016March 30, 2016 H. Cutner

The situation in the industry in Greece looks as though the trend is to continue slipping. Last year, the insurance market in Greece took a significant hit as the number of people in the country who cashed in savings based policies broke all previous records of that nature. That trend revealed a solid decline of the state of the insurance industry within the country. This appears to be yet another casualty of the economic crisis in Greece. The reason is that as people have watched their disposable incomes withering, they…

Millennials are unsatisfied with interaction with homeowners insurance companies

June 8, 2015June 6, 2015 S.Vagus

Insurers are having trouble interacting with Millennials Homeowners insurance companies may be failing to meet consumer expectations when it comes to interaction, according to a new study released by J.D. Power, a global marketing research and information services firm. The study highlights “Gen Y” consumers, typically referred to a Millennials, as having the lowest satisfaction with insurers and their ability to interact with consumers. This demographic typically represents those born in the early 1980s and early 2000s and these people are becoming first-time homeowners and have high expectations of the…

India’s government approved major insurance industry overhaul

March 16, 2015March 14, 2015 S.Vagus

Economic measure receives approval from the Indian Parliament India’s insurance industry is in for an overhaul, as Prime Minister Narendra Modi has passed his first major economic reform a year after coming to power. The Indian Parliament has voted to pass a measure that would have a major impact on the domestic insurance industry, allowing foreign investors to participate in the sector. The measure will increase the investments that foreign parties can make into local companies, which may be a boon for smaller companies that offer certain kinds of coverage.…

Top 2014 cases of insurance fraud identified

January 9, 2015January 7, 2015 Julie Campbell

The MPI has now released its list of the largest errors and attempted fraudulent claims from January through December. A new list called the “top five frauds” has now been released by Manitoba Public Insurance (MPI), which shows the leading instances of insurance fraud that occurred within this Canadian province. While interesting and amusing to some, it also places the spotlight on an ongoing problem in the insurance industry. According to the MPI’s data, its own special investigations unit was able to discover approximately $7.5 million in insurance fraud in…

Texas insurance alternative offered by health sharing ministries

October 30, 2014October 28, 2014 H. Cutner

Open enrollment for next year’s coverage is less than a month away and now new options are arising. The Texas insurance market is now seeing a new and more active participant, now that the 2015 open enrollment is rapidly approaching, as the so-called health sharing ministries are seeking to bring in new members who would like to have coverage but either want an alternative to the traditional plan or cannot afford one. This is a critical time in which to market health insurance, as consumers prepare to make their 2015…