Live Insurance News

Crop insurance news shows debate rages on over subsidy

May 14, 2012May 22, 2012 Marc

Farmers want to continue to cover themselves against falling prices and losses with the help of the government. Corn and soybean farmers, especially, have been enjoying this type of arrangement for their crops for many years, and the latest insurance news is showing that this might improve. Congress currently has a farm bill before it, which includes a provision that will likely come with an annual cost of approximately $3 billion, that would help farmers to cover the losses they incur ahead of the coverage of their own policy coverage.…

Federal regulators warn that nanotechnology could present dangers to consumers

April 24, 2012May 26, 2012 S.Vagus

FDA calls for proof of safety for nanotechnology Nanotechnology is gaining traction in the world of medicine. The technology has a myriad of uses from prosthetics to cancer treatment, but the federal Food and Drug Administration (FDA) believes that nanotechnology could present serious dangers to consumers. Health regulators have released a study concerning nanotechnology and have warned that products that use this technology cold have harmful effects on the human body. The health insurance industry is also wary of the technology because these possible effects could be somewhat costly. Nanoparticles…

U.S. RE Analytics releases new tool to help insurers manage their risk exposure

April 20, 2012April 20, 2012 Nordstrom

Insurance technology with new risk managment tool for industry use U.S. RE Analytics, a consulting firm that provides services to the insurance and reinsurance industries, has developed a new tool that could help some insurance companies manage the cost of reinsurance more efficiently. The tool, called U.S. RE Risk Optimizer, is designed specifically to assist companies that are exposed to catastrophic natural disasters. These disasters have proven to be a serious financial risk over the past two years. Two consecutive years of severe natural catastrophes have caused the price of…

Marsh & McLennan herald turning of property insurance market

April 12, 2012April 12, 2012 Nordstrom

Property insurance rates on the rise. Marsh & McLennan Companies, a global risk and insurance services firm, has begun claiming that property insurance rates all over the world are on the rise. The increase in these rates suggests a solidifying of the global market and could be an implication of an improving economy. Marsh notes that consumers are paying more for their insurance coverage due to the high frequency of natural disasters in the past two years. Another factor that is contributing to higher rates the way insurance companies are…