Live Insurance News

Siegel+Gale releases new insurance industry survey

October 25, 2012October 25, 2012 Nordstrom

Complexity of insurance industry noted in new Siegel+Gale survey Insurance can be a complicated matter. While many insurers offer coverage that is somewhat straightforward in concept, the language used in policies can be profoundly confusing, even for those well versed in insurance legalese. Insurance policies are often worded in a particular manner so as to limit legal liability. While this protects the insurance industry from rampant and excessive lawsuits, it also ensures that many policies can only be deciphered by a lawyer. This is a real problem for consumers, according to…

Auto insurance takes many non-driving factors into account when calculating premiums

October 7, 2012October 6, 2012 Julie Campbell

Rates are determined by many things, not all of which occur behind the wheel. Auto insurance companies take many different factors into account when they calculate the premiums that will be paid every month by their policyholders, but not all of them have to do with driving. There are many additional elements such as occupation, education, and ZIP codes that can also be included. A consumer group is now taking action against some of these behaviors by asking New York insurance commissioners to limit the ability of insures to apply…

Auto insurance pricing draws ire of consumer advocacy group

October 1, 2012October 1, 2012 Marc

Survey shows consumers believe auto insurance pricing is unfair The Consumer Federation of America, a consumer advocacy group, has released the results of a survey it conducted last week concerning how people feel about their auto insurance coverage. The group suggests that, according to the survey, many consumers feel that they are facing unfair pricing practices concerning their auto insurance coverage. These consumers claim that their policies are being prices based on information concerning their occupation, education level, and marital status. Group finds that certain factors hold significant influence over…

Health insurance industry survey highlights the opinions of executives

June 25, 2012 Nordstrom

Health insurance care reform confusion debate

Survey shows that executives are torn on the issue of the Affordable Care Act Connecture, a provider of sales automation technology for the health insurance industry, has released the results of a new survey that was conducted during the America’s Health Insurance Plans Institute 2012 conference held late last week. The results provide some insight on the opinions held by executives in the health insurance industry concerning the Affordable Care Act. The health care law has, since 2010, been a point of contention in the industry, causing a degree of…

Insurance executives concerned for the future of the insurance sector, says KPGM report

November 10, 2011November 10, 2011 Nordstrom

Optimism for the business conditions for the insurance industry in the U.S. is beginning to expire, according to a new report from KPGM, an audit, tax and advisory firm. The report shows that many of the nation’s highest ranking insurance executives are growing pessimistic of the conditions governing the insurance sector. These executives claim that conditions are worse now than they were a year ago and may gradually grow worse as the global economy shows signs of ailing. One of the major challenges facing the industry, notes KPGM, is the…