Live Insurance News

Google is making a move into the auto insurance sector

June 11, 2015June 10, 2015 Nordstrom

Driverless self-driving car Google auto insurance

Driverless cars could have a major impact on the auto insurance market Self-driving cars are coming and that may change Google’s position in the auto insurance space. Recently, Google launched its insurance rate comparison service in the U.S. Called Google Compare, this service has been operating in the United Kingdom for some time, representing quotes from 124 insurers in the country. The UK government has already approved the testing of driverless vehicles on public roads, but U.S. regulations are still somewhat restrictive. These vehicles could have a significant impact on…

Cyber insurance is becoming more common

May 11, 2015May 9, 2015 S.Vagus

Cyber Insurance policies commissioners industry

ABI predicts that the cyber insurance market will become more common in the coming decade Cyber insurance coverage may become the new normal in 10 years’ time. The Association of British Insurers (ABI) has claimed that cyber insurance products will become significantly more common in the United Kingdom and elsewhere by 2025. In early March, a report from Marsh and the UK government showed that only 2% of large businesses in the UK have cyber coverage. This may be a costly problem for these businesses as they face significant risks…

Auto insurance fraud could lead to a spike in premiums in the UK

April 23, 2015April 22, 2015 Logan B.

Insurance premiums may rise due to insurance fraud Auto insurance prices in the United Kingdom may be in danger of spiraling out of control, according to AA Insurance. Over the past few years, insurance premiums have been falling for drivers throughout the country, but this may soon change if action is not taken against the growing problem of insurance fraud. AA Insurance suggests that fraud is becoming a very problematic issue in the auto insurance sector, with insurers facing significant financial losses from fraudulent claims. Fraudulent claims are having an…

Life insurance controversy sparked in the United Kingdom

April 1, 2015March 30, 2015 S.Vagus

Financial Conduct Authority criticized for breaking its own rules The Financial Conduct Authority, a financial regulatory body in the United Kingdom, may have mishandled its review of the life insurance industry last year, according to a report from a committee of members of the British Parliament. The report is the latest development in ongoing controversy regarding the Financial Conduct Authority’s plans to review the life insurance sector. This review has had a significant impact on the sector, with the regulatory body wiping some $4 billion off the value of insurance…

Cyber insurance is gaining attention in the UK

March 27, 2015March 25, 2015 S.Vagus

UK cyber Insurance industry News united kingdom

UK government to launch initiatives to promote cyber insurance coverage Cyber insurance is kicking off in the United Kingdom. The government has announced several join initiatives that are designed to improve the stability and availability of cyber insurance in the country. The UK Cabinet Office and Marsh, a prominent insurance company, have partnered to launch these initiatives in order to protect companies from cyber attacks. Recently, the two organizations published a report that shows that the majority of British firms lack the appropriate level of cyber protection. Report shows that…

Cyber insurance is lacking in the UK

March 26, 2015March 24, 2015 Logan B.

Large UK firms may not see value in cyber insurance protection Cyber insurance may be lacking among large businesses in the United Kingdom. The British government has released a report that suggests only 2% of large British firms have insurance coverage that will protect against cyber attacks. The report was jointly released with Marsh, a prominent insurance company, and recommends that businesses begin taking the risks that exist in the digital world more seriously. Following several high-profile cyber attacks, businesses and consumers could be at risk of exploitation if they…

Google launches auto insurance comparison service

March 11, 2015March 9, 2015 S.Vagus

tablet ipad mobile wallet google insurance news

New service aims to help users compare auto insurance quotes Google has launched a new service that may help it break into the auto insurance sector. The service is called Google Compare for Auto Insurance and will allow users to compare insurance quotes offered by 14 different coverage providers. Google’s new service is restricted to California currently, but the company may expand the service if it proves successful and popular enough among consumers. If successful, the Google Compare for Auto Insurance service could be a disruptor for the auto insurance…