Insurance Industry News

A collection of Insurance latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

ibtimes.com - Panos Mourdoukoutas Ph.D. - Why Insurance Prices Have Skyrocketed
Why Insurance Prices Have Skyrocketed
International Business Times

Insurance premiums for autos, homes, and health have increased significantly in the United States, contributing to inflation and the high cost of living for consumers nationwide. Consumer price data released by the U.S. Bureau of Labor Statistics…

telegraph.co.uk - Noah Eastwood - Why is car insurance suddenly so expensive?
Why is car insurance suddenly so expensive?
The Telegraph

Britain is set for another year of skyrocketing car insurance premiums after the cost of insuring a vehicle rose to record levels last year – and drivers are demanding answers. Many motorists have found rises in their insurance mystifying.

cnn.com - Best student travel insurance in April 2024
Best student travel insurance in April 2024
CNN

Studying abroad can open you to a new world of experiences — and potential mishaps. From accidents and illnesses to lost or stolen items, you'll want to invest in student travel insurance to protect yourself and have a safety net away from…

reuters.com - Global property insurers see 'alarming' losses as risk models lag, report says
Global property insurers see 'alarming' losses as risk models lag, report says
Reuters

Work crews clean up a beach front road after ocean waves caused by a winter storm pushed up beach rocks in Oceanside, California, U.S., February 20, 2024. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab LONDON, April 17…

thecourier.co.uk - Press Association - No 10 denies plan to scrap national insurance is 'unfunded' but cannot name cost
No 10 denies plan to scrap national insurance is 'unfunded' but cannot name cost
The Courier

Downing Street rejected Labour's characterisation of plans to scrap national insurance contributions as unfunded, but could not say how much the pledge would cost. In the spring Budget, Chancellor Jeremy Hunt announced a 2p cut in national…

telegraph.co.uk - Szu Ping Chan - Hunt risks missing debt target after National Insurance cuts, warns IMF
Hunt risks missing debt target after National Insurance cuts, warns IMF
The Telegraph

Jeremy Hunt's pre-election tax cuts will keep Britain's debt rising until the end of the decade, according to the International Monetary Fund (IMF), jeopardising the Chancellor's goal of getting it down within five years. The IMF said it was…

bloomberg.com - Matthew Griffin - Premiums Are Rising, and Insurers Say Lawsuits Are to Blame
Premiums Are Rising, and Insurers Say Lawsuits Are to Blame
Bloomberg

“Social inflation” is the term they use to describe what they see as abuse of the legal system. Advocates say there's little evidence of a connection. Insurance companies invoke a litany of reasons for raising premiums. Inflation has…

mirror.co.uk - Lawrence Matheson, Vicky Shaw, PA Personal Finance Correspondent - Some insurers charging monthly cover rates similar to credit cards, says Which?
Some insurers charging monthly cover rates similar to credit cards, says Which?
The Mirror

Motorists opting for monthly insurance payments could be hit with interest rates as steep as those on credit cards, with some facing nearly 40% APR, consumer watchdog Which? has warned. The investigation by Which? also revealed that home insurance…

globenewswire.com - Capgemini SE - Insurance leaders optimistic about AI's impact on underwriting quality and fraud reduction but underwriter confidence lags
Insurance leaders optimistic about AI's impact on underwriting quality and fraud reduction but underwriter confidence lags
GlobeNewswire

Insurance leaders optimistic about AI's impact on underwriting quality and fraud reduction but underwriter confidence lags 62% of insurance executives recognize artificial intelligence/machine learning technology (AI/ML) as elevating underwriting…

telegraph.co.uk - Noah Eastwood - Ageing population blamed for surge in pensioners' car insurance bills
Ageing population blamed for surge in pensioners' car insurance bills
The Telegraph

Britain's ageing population has been blamed for spiralling car insurance premiums for pensioners. Elderly motorists face being taken off the road by rapidly rising bills, with renewal quotes jumping by hundreds of pounds. Some have been denied…

standard.co.uk - Vicky Shaw - Insurers charging rates similar to credit cards for monthly cover - Which?
Insurers charging rates similar to credit cards for monthly cover - Which?
Evening Standard

The rates being charged by some insurers to pay for monthly cover resemble the interest applicable for credit card borrowing (Tim Goode/PA) Some motorists could be charged nearly 40% APR (annual percentage rate) when paying for their insurance…

independent.co.uk - Sophie Wingate - No 10 denies plan to scrap national insurance is 'unfunded' but cannot name cost
No 10 denies plan to scrap national insurance is 'unfunded' but cannot name cost
The Independent

Please enter a valid email address Please enter a valid email address I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Downing Street rejected Labour's characterisation of plans to scrap…

cbsnews.com - Joshua Rodriguez - What is a long-term care insurance cash policy?
What is a long-term care insurance cash policy?
CBS News

Have you thought about purchasing long-term care insurance ? With most American retirees needing long-term care at some point in their retirement, it's important to plan for the cost of that care. And that care isn't cheap. Though long-term care…

fortune.com - Jessica Ullrich - What is bond insurance, and how can it protect your business?
What is bond insurance, and how can it protect your business?
Fortune

The right types of insurance and protections can keep your small business safe and provide prospective clients with peace of mind. Surety bonds are one protection that small businesses might consider, and in many cases, the businesses may be…

thescottishsun.co.uk - James Flanders - Warning over easy insurance mistake that adds £100s to bills - how to avoid it
Warning over easy insurance mistake that adds £100s to bills - how to avoid it
The Scottish Sun

HOUSEHOLDS are being warned about an easy insurance mistake which could add £100s to their bills. Motorists are being throttled by huge 40% interest charges when paying for their insurance monthly, according to new research by Which?. Home…

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