Live Insurance News

Everything You Wanted to Know About Car Insurance but were Afraid to Ask

December 8, 2013April 19, 2014 Guest Author

You may not think too much about your car insurance until you wind up in an accident. Paying your bills each month may remind you how expensive insuring your car can be, but in the event of an accident, you want to know you’re covered so you don’t have to pay out of pocket. Car insurance options can be daunting, but be sure to do your due diligence and research, and you’ll know everything you need to know. Investigate the Possibilities Car insurance companies compete for your business online, on…

Insurance law to cause RBC to incur a $160 million hit

November 18, 2013November 16, 2013 Julie Campbell

In Canada, the federal government’s efforts to close tax “loopholes” is bringing on a massive hit for one insurer. According to the Royal Bank of Canada (RBC), the latest insurance law change from Finance Minister Jim Flaherty that is designed to close the tax “loopholes” in this industry will bring with it a charge of an estimated $160 million for the insurer when it makes its fourth quarter earnings report. The insurer said that after tax, the charge will fall to $118 million, but is a direct result of the…

Insurance industry report finally delivered by the Federal Insurance Office

June 15, 2013June 12, 2013 Logan B.

Federal Insurance Office released long-awaited insurance industry report The U.S. Department of the Treasury‘s Federal Insurance Office has released a highly anticipated report concerning the insurance industry. The report was initially scheduled for release in January of 2012, but this release was delayed in order for the Federal Insurance Office to take better account of emerging trends in the insurance industry and provide better insight on how the industry has evolved over a relatively short period of time. The agency is tasked with providing these types of reports on an…

Insurance industry watchdog prepares European insurers for new risk rules

March 29, 2013March 28, 2013 H. Cutner

The group has taken action to get companies and regulators ready for broad scale changes. This week, the European Union’s insurance industry watchdog took considerable action to begin the preparations of insurers as well as national regulators, for the implementation of new regulations that will lead to widespread changes to their risk and capital management. The EIOPA issued a draft of the guidelines that it is recommending for a number of insurer functions. The European Insurance and Occupational Pensions Authority (EIOPA) released its guidelines draft for the insurance industry, which…

Public insurance adjusters in Colorado face new regulations

January 2, 2013January 2, 2013 S.Vagus

State lawmakers devise new regulations for public insurance adjusters Public insurance adjusters in Colorado are likely to face tougher regulations in the coming year. State lawmakers are currently debating a new bill that will institute strict regulations concerning the operations of public insurance adjusters throughout the state. The bill would provide the state’s Division of Insurance. with the authority to suspend or otherwise revoke the license of a public insurance adjuster, power that the state agency currently lacks, while also tasking the agency with the enforcement of several new regulations.…