Tag: insurance trends

Insurance companies may pay out over $2 billion from U.S. weather damages

Julie Campbell
federal flood insurance program stop

The United States has been facing some extreme weather and the last 10 days of December led to significant losses. The extreme weather seen throughout many parts of the United States last month, particularly during the last ten days, has led to some significant losses for insurance companies, with estimates suggesting that payouts could top $2 billion. This estimate was made by Aon Benfield, the reinsurance broker, which recently announced its predictions. The flooding, tornadoes, hail, snow and winds throughout the last ten days of December led to the deaths…

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Consumers are favoring shopping online for auto insurance coverage

S.Vagus
auto insurance ride share car

Report highlights the trends directing consumer purchasing behavior More consumers are beginning to shop online for auto insurance coverage, according to a new report from comScore. The report highlights the trends that are beginning to emerge in the overall auto insurance industry, with these trends likely to play a major role in directing the shopping behavior of consumers in the future. The report is comprised of information gathered from more than 3,000 drivers throughout the United States, with this information being gathered between August and September of this year. Majority…

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Growth is coming to the gulf insurance industry, but it won’t be easy

Julie Campbell
insurance industry data report survey

A new survey has shown that the region will see steady increases in product penetration but with challenges. Spending from Middle Eastern governments on non-oil projects and a strong increase in coverage products will provide considerable support for Gulf insurance industry growth across all six of the Gulf Cooperation Council countries, said a new survey. The non-life sector was predicted to see a stronger growth performance than life insurance. The reason is that there have been some new regulations in the Gulf insurance industry such as the mandatory purchase of…

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Health insurance premiums are a main issue for consumers

H. Cutner
cash money subsidy health insurance deductibles

A recent study has shown that Americans pay most attention to price when they shop for plans. Americans have made bargain shopping into an art form, and this habit has crossed over into the effort to purchase health insurance, as the cost of premiums are among the top factors that consumers consider when they buy, according to a new survey. Two thirds of consumers who switched plans on the insurance exchange said price was the deciding factor. Over half of all consumers who shopped around on the exchanges but didn’t…

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Pet insurance is extremely unpopular in India

Julie Campbell
pet insurance

According to recent figures, there are very few animal owners in the country who have purchased coverage. Pet insurance is a very unique type of coverage in that there are parts of the world where it has become exceptionally commonplace, and there are others where it has remained virtually nonexistent. India has fallen into that second category, as few owners have chosen to buy health insurance for their pets. This type of coverage helps to cover bills such as those for veterinary visits, medical treatments, surgeries, and even certain medications,…

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