Home > Insurance News

Insurance News 03/2016



The Short Answer What is Anbang Insurance?
The Chinese firm Anbang Insurance Group Co. has gone from one-time sleepy provincial car insurer to an aggressive buyer of insurance companies and property assets across Europe and the U.S.–including the legendary Waldorf Astoria in New York. Now it ...

Insurance Industry Is Hiring But Millennials Don't Seem To Be Interested
Insurance Industry Is Hiring But Millennials Don't Seem To Be Interested. March 15, 20166:12 AM ET. Yu Sun Chin. Audio for this story from Morning Edition will be available at approximately 9:00 a.m. ET. The insurance industry has a lot of open ...

Ping An Insurance profit leaps, banking arm a concern
(Reuters) — Ping An Insurance Group Co. of China, Asia's second-largest insurer by market value, reported a 38% rise in full-year profit on Tuesday, though soured debt at Ping An Bank could cast a shadow over the current year. Strong life insurance ...

Insurance is next target for Check founder Guy Goldstein and his ...
Insurance is next target for Check founder Guy Goldstein and his ...

Insurance companies invest in coverage for ride sharing
Transportation network companies like Uber and Lyft are growing so rapidly that their services are outpacing regulation and support. Insurance companies, however are finally starting to catch up. "The cool thing about the millennials is they're ...

Third party insurance adjusters becoming more prevalent in Colorado
AURORA, Colo. - With record-breaking hail storms and catastrophic wildfires, Colorado is now the number two state in the nation in insurance claims – second ...

Insurance boss declares that new Solvency II safety rules were a waste of £5bn
Billions spent by the insurance industry to comply with new EU-wide capital rules have been a waste of money, the chief executive of Legal & General has said. Nigel Wilson said most of the sums spent complying with the Solvency II regime would have ...

Janesville School Board votes to raise insurance deductibles
Active employees will pay a $250 deductible, up from $100, for single insurance and a $500 deductible, up from $250, for family insurance in the district's health maintenance organization, or HMO, plan. Employees also will pay 10 percent of coinsurance ...

Insurance company goes global
BEIJING — Young, privately owned, and ambitious, Anbang Insurance Group stands out in China's staid, state-dominated insurance industry. Founded 12 years ago, Anbang made a splash in the United States in 2014 with its $2 billion purchase of New York ...

XL Catlin Restructures South Europe Insurance Operations; Managers Appointed
XL Catlin's insurance segment announced that it has restructured its Southern Europe operations to include France alongside Italy and Iberia. Southern Europe is led by Regional Manager Bruno Laval, who takes on an additional role as country manager, ...

Here's how Ohio ranks nationally for car insurance rates
For those driving in Ohio, life is pretty sweet. That's because statewide insurance rates are among the cheapest in America, according to a new state-by-state comparison of auto insurance premiums by Insure.com. Ohioans pay an average of $900 annually ...

Almost half of private psychiatrists don't accept insurance. People ...
Almost half of private psychiatrists don't accept insurance. People ...

Without soil data, crop insurance pricing is a bust - Phys.org
Farmers depend on insurance to cope with the enormous risk and cost it takes to coax crops from the ground. Unpredictable weather and rampaging pests all ...

Haven Life Takes Life Insurance Online
Haven Life, grew out of the poor experience that an expecting couple had when they went shopping for term life insurance. Founder Yaron Ben-Zvi, who has started companies in social media and an early robo advisor, was less than impressed by the state ...

Budget 2016: Insurance Premium Tax - what is it and what's changing?
First introduced in 1994, Insurance Premium Tax (IPT) is a tax on general insurance premiums, including home insurance, car insurance and travel insurance. There are two rate bands, the standard rate of 9.5pc, and a higher rate of 20pc which applies to ...

4 questions to ask your flood insurance agent about new FEMA maps
As property owners in Jefferson Parish start looking at their designated flood zones on new FEMA flood elevation maps, they should plan to talk with their insurance carrier as well. The preliminary Digital Flood Insurance Rate Maps assign flood risks ...

Maryland's discriminatory car insurance scheme
Car insurance should be priced to reflect the risk of the driver getting into an accident. But in Maryland, insurance companies use non-driving related factors — including education, occupation, marital status, homeownership and credit — to set the ...

Citizens: Let's ask governor to investigate water claims, insurance rate hikes
A member of Citizens Property Insurance Corp.'s governing board suggested asking Gov. Rick Scott to convene a "blue ribbon panel" to identify possible solutions to rising water damage costs and litigation that are spurring rate increases in South ...

Online Comparison Launched by California Department of Insurance
Insurance Commissioner Dave Jones wants California drivers know about the department's online tool that helps consumers shop for different insurers based on price. The tool is now being launched by the California Department of Insurance is designed to ...

Town had no liability insurance on Hadlock Dam since 2008
FORT ANN | When the Hadlock Pond Dam breached in 2005, the town had liability insurance on it but did not have insurance for physical damage to the dam. The dam was repaired and the pond refilled in 2008. But if the dam had collapsed again between ...

Pet Insurance: Is it worth it?
Her 12-year-old dog Baxter doesn't have insurance, but she did have it when he was a puppy. "It kind of seemed like something that wasn't necessary, so I just stopped it." A few years later, she learned Baxter had hip dysplasia, a skeletal disease that ...

How to Buy Car Insurance
We've come a long way from the days when shopping for car insurance meant you had to meet with your neighborhood agent. While that's still an option, drivers curious about how to buy car insurance today have a variety of options at their disposal ...

Budget: fuel duty frozen, but insurance tax rises again
FUEL duty has been frozen for the sixth Budget in a row, despite predictions the Chancellor would seize on falling forecourt prices to increase the income for the Treasury. Motoring bodies welcomed the move, though there was disappointment that there ...

Call for regulation of insurance investigators after claims of bullying ...
Call for regulation of insurance investigators after claims of bullying ...

Health insurance deductibles going up
It's one facing thousands of Californians who are required to purchase health insurance through Affordable Care Act exchanges. As if rising premiums – which increased across California this year – weren't already hard enough, skyrocketing deductibles ...

Budget targets insurance premiums to raise £700m for flood-hit regions
The UK regions hit by the winter floods are set to benefit from an extra £700m to boost flood defences, after the chancellor announced another rise in insurance premium tax and earmarked the cash raised to flood-damaged towns. George Osborne said he ...

'Treated like a criminal': Insurance industry's fraud investigations hurting innocent claimants
When her car was stolen and she lodged a claim on her insurance policy, Nina*, a Sydney mother-of-two, thought it would be a smooth process. Insurance, after all, is supposed to give you a peace of mind. She was shocked her insurer launched a fraud ...

Israeli Next Insurance pulls $13M seed to challenge U.S. small business insurance market
In a surprise announcement on Tuesday, Next Insurance declared that they had succeeded in raising an impressive $13 million seed round to take on the small business insurance market in the United States. Backing them are TLV Partners led by Rona ...

Entrepreneurs Funding Businesses With Their Insurance Policies & Avoiding Taxes
Capital is usually the single greatest barrier to any entrepreneur starting a business. Even service-based companies still require a significant amount of capital to cover major expenses such as rent and labor. A solution that's available to help ...

Long-Term Care Insurance: Less Bang, More Buc...
Long-Term Care Insurance: Less Bang, More Buc...

Helping parents apply for insurance may get more kids covered
Roughly four million uninsured kids are eligible for free or low-cost coverage through two U.S. health programs: Medicaid for the poor and the Children's Health Insurance Program (CHIP). Often, they're uninsured because parents don't know they qualify ...

Company wants Lindsey insurance policy voided
An insurance company is asking a federal judge to officially relieve it from paying out a $1.1 million life insurance policy to the estate of Melinda Lindsey, whose husband shot and killed her in January 2015. A Porter County jury found Lindsey's ...

Money Matters: Shopping for auto insurance
Gather Information. This is the first step to obtaining coverage. Compile your personal information as well as information about each vehicle you want to insurance. Knowing the make, model and year of an auto is important. The Vehicle Identification ...

How Will Paris Agreement Change The Insurance Industry?
The sweeping agreement to reduce carbon emissions and battle climate change hammered out by world leaders last year could be greatly transformative for the insurance and reinsurance industry, if you listen to industry experts who have read and ...

Insurance rates could return to normal for some Corn Hill homeowners
Rochester, N.Y. - Some Corn Hill homeowners may have their insurance rates go back to normal soon. In 2008, some homes in the neighborhood were put on a list of flood hazard areas by the Federal Emergency Management Agency (FEMA). This then ...

Long-Term Care Insurance: Less Bang, More Buck
Mary Julia Klimenko, 69, in her office in Benicia, Calif., on Mary Julia Klimenko, 69, in her office in Benicia, California in January 2016. The therapist invested in a long-term care insurance policy, but her monthly premiums have nearly quadrupled ...

County delays health insurance change for spouses
Spouses who are eligible for health insurance through their own employers won't be kicked off of Forsyth County's employee health plan this summer, administrators say. County leaders now plan to delay a spouse eligibility change for a year, giving the ...

China regulator tightens rules on life insurance products
The China Insurance Regulatory Commission (CIRC) is reducing the industry total premiums from such products to between 500 billion yuan ($77.3 billion) and 550 billion yuan a year, from 650 billion yuan in 2015, said Yuan Xucheng, director of its life ...

California Insurance Marketplace Aims To Kick Out Poor-Performing Hospitals
California's insurance exchange is threatening to cut hospitals from its networks for poor performance or high costs, a novel proposal that is drawing heavy fire from medical providers and insurers. The goal is to boost the overall quality of patient ...

Will a Fast Car Cost You More in Insurance?
Yes, auto insurance companies look at your credit score and a lot of other factors when determining what your insurance premiums will be. It's all about risk, and insurance companies rely on some pretty sound statistical data to determine just how ...

Insurance change sparks controversy in Jeff
After more than 35 years with Aflac, Jeffersonville city officials decided to stop offering that company's supplemental insurance through payroll deduction and go with someone else -- raising questions about a lack of paperwork and oversight connected ...

Do you really need rental car insurance? 8 things to know
With every car rental transaction comes the slightly uncomfortable moment when the agent behind the counter tries to foist the company's insurance on you. When this happened to me at Hertz at the Hilo International Airport in Hawaii a few weeks ago, I ...

Real-life money: my flood insurance nightmare
Getting adequate home insurance to cover the risk of your home flooding is a big issue for many around the UK. For teacher Gemma Fitzsimons and her family it's turned into something of a nightmare. Their home in Cheshunt is classed as a flood risk and ...

Insurance Rates for Architects, Engineers Not Going Anywhere
After three straight years of moderate increases, insurance premiums for architects and engineers professional liability leveled off in 2015. A new survey by insurance broker Ames & Gough also found that insurers plan to keep rates stable this year in ...

As anti-police rhetoric has grown in some communities, more and more cops are purchasing liability insurance to ...
As anti-police rhetoric has grown in some communities, more and more cops are purchasing liability insurance to ...

Insurance for Critical Illness May Add Security, but at a Cost
The product, known as critical illness insurance, promises to pay a lump sum, anywhere from $5,000 to $100,000, after someone receives some sort of dreaded diagnosis, like cancer, a heart attack or a stroke. And the coverage is not terribly expensive ...

Why term insurance may not be a bargain
From time to time, I need to explain the ill effects of the siren song of term insurance. This coverage, as opposed to whole life or universal life, that has no cash value and is only written today with a premium that sooner or later becomes unworkable ...

Don't just rely on life insurance illustrations
What's more, the widespread use of such misleading, inappropriate and unreliable information from such policy reviews has contributed to life insurance's ranking as among the worst performing asset types, relative to client expectations, for the past ...

Mutual of Omaha jumps into hot indexed universal life insurance market
Mutual of Omaha is expanding its reach in the universal life insurance market with the debut of its first indexed product, coming at a time when such policies are surging in popularity and more insurers are pushing to get in on the action. Indexed ...

With a Rs 330-crore insurance cover, Rajinikanth sets another record with Robot 2
MUMBAI:Forthcoming Rajinikanth star vehicle 2.0 or Enthiran 2 (Robot 2) has been tipped as India's most expensive film ever. Set for release next year, it's already set a record in insurance cover for an Indian movie— Rs 330 crore, surpassing Rs 300 ...