insurance premiums News

Consumers Under 35 OK With Insurer Digital Scrutiny to Save Money

The majority of people between 18 and 34 would be willing to let insurance companies dig through their digital data from social media to health devices if it meant lowering their premiums, a survey shows. In the younger group, 62 …

A Refresher on the Named Storm Deductible

Hurricanes Harvey and Irma caused massive devastation to Texas and Florida and now frustration for policyholders, their attorneys and public adjusters due to the named storm deductible on some policies. This week Cozen O’Connor hosted a webinar to provide a …

Arizona Law Cuts Taxes for Insurers

Arizona is set to reduce taxes for insurance companies under a new bill Gov. Doug Ducey signed into law Monday. The tax cut is expected to mean the loss of more than $44 million to state’s general fund over the …

U.K. Floods Could Cost Insurers 1 Billion Pounds: Deloitte

Floods and storms pounding the U.K. may cost the insurance industry at least 500 million pounds ($822 million), a figure that may double if the weather conditions persist, according to a partner at Deloitte LLP. The storms may also drive …

Mississippi House Panel Passes Insurance Disclosure Bill

Mississippi lawmakers could require insurers to disclose how much they collect in premiums and how much they pay in claims in each ZIP code. House Bill 753 could spark more debate over how much coastal homeowners are charged to cover …

Mississippi City to Pay More for Liability Insurance

What the Mississippi city of Columbus pays for liability insurance will increase 15 percent in 2014. WCBI-TV in Columbus reports that insurance consultant Eddie Mauck told officials this week that three or four major police claims combined with some others …

Illinois Workers’ Comp Insurance Rate Down 4.5%

The rate used to calculate workers’ compensation insurance premiums in Illinois has dropped again, a direct result of reforms Gov. Pat Quinn signed into law in 2011, his aides said Monday. The National Council on Compensation Insurance, a rating agency, …

Five Percent of Consumers Had Credit Report Errors: FTC

One in twenty American consumers had mistakes on their credit reports that would have increased their interest rates on loans or caused them to pay more for insurance, the Federal Trade Commission said in a report released on Monday. Experian, …

Understanding Experience Modifiers: Can Subrogation Really Affect Premiums?

For many corporate personnel, the concepts of underwriting and experience ratings remain a clouded mystery, yet they directly affect the amount of insurance premiums a company will pay. Even more mysterious though is what effect, if any, subrogation efforts have …

Report: Downward Trend in UK Large Motor Claims Continues

UK motor insurance premiums have continued to rise in 2011, with some drivers facing price increases of up to 50 percent. At the same time, the fall in the number of deaths and serious injuries on British roads has resulted …