Illinois insurance rates on the rise According to the March state filings by a number of insurance companies, some residents of Illinois will soon be receiving the unwelcome news that the coverage that they require for their homes and vehicles will soon be rising. For example, Hanover Insurance has filed a proposal to increase their rates for homeowners’ insurance by an average of 4.9 percent. This rise will go into effect for the renewals on July 11, 2012. Similarly, the filing from Unitrin Preferred Insurance Co., has shown that they…
Read MoreTag: Liberty Mutual Insurance
Liberty Mutual announces new disability insurance benefits to assist mid-sized businesses
Liberty Mutual Insurance has unveiled its new Benefits Select product line in an effort to better serve mid-sized businesses and the employee benefits consultants and brokers who work with them. The Benefits Select group disability product suite is designed to be a cost-effective way for these employers to be able to offer more attractive passengers to current and potential employees so that they will experience better retention while still keeping an eye on the bottom line. According to the chief operating officer at the group benefits unit of Liberty Mutual…
Read MoreLiberty International Underwriters launches three new cyber liability insurance products to protect consumers and companies from attack
Liberty International Underwriters, a specialty lines division of Liberty Mutual Insurance, has announced that it will be providing three new cyber liability products. Insurers are beginning to take the risk of cybercrime seriously, especially as more hackers become more brazen in their attacks on companies and government institutions. While companies face the potential for major losses as the result of cybercrime, consumers are the ones that are affected most by attacks. Identity theft is rampant in the world of technology, and many have found their sensitive financial information compromised due…
Read MoreLiberty Mutual Insurance rereleases webinar about worker compensation cost management through predictive modeling
Liberty Mutual Insurance has announced that they will be rereleasing a webinar for commercial insurance agents, brokers, and buyers, so that they can better comprehend the vital role played by predictive modeling in being able to best manage the total cost that stems from workers’ compensation claims. The insurer made the decision to rerelease the webinar following a large amount of demand and interest. Liberty Mutual has now placed the webinar on its website so that those who missed the December’s event when it was originally hosted, will be able…
Read MoreLiberty Mutual Insurance expands new commercial lead umbrella policy form for mid-sized companies
Liberty Mutual Insurance has announced that it has now broadened its new commercial lead umbrella policy form in order to include an endorsement for crisis management in the hopes to provide increased protection for mid-sized organizations against the significant harm that can come from a business crisis. This new endorsement element provides customers with up to 72 hours in which to discover that a crisis has occurred, and then to make their claim, which includes coverage of up to $50,000 for Weber Shandwick support for crisis management. Weber Shandwick, a…
Read MoreNew study shows New Year’s Eve is worst holiday for teen drinking and driving
A new study performed by Liberty Mutual Insurance and SADD (Students Against Destructive Decisions) has shown that New Year’s Eve is the holiday on which teens are most likely to drive while under the influence of alcohol or drugs, despite the fact that they believe that it is the most dangerous driving night of the year. The survey included the participation of almost 2,300 students in the eleventh and twelfth grades. When those who were drivers were asked about the degree of danger they believe is associated with certain events…
Read MoreLiberty Mutual posts Q3 losses due to natural catastrophe and asbestos charges
The Liberty Mutual Group, one of the largest property casualty insurers in the U.S., has posted their third quarter financial report. The report shows that the company has lost millions as the result of natural disasters and a high-profile asbestos lawsuit that was levied against the insurer earlier in the year. Last year, the insurer reported a net profit of $567 million during the third quarter, but 2011 has produced several major natural disasters that have shaken the insurance industry to its core. Liberty Mutual’s losses from catastrophic events for…
Read More