Category: Insurance Industry News

Health care vote likely today after delay from Trump’s failure to find support

Despite extensive efforts to encourage members to see his side, the president has yet to gain enough votes. House leaders postponed the health care vote that had been expected to occur on Thursday. The GOP’s intention had been to repeal the Affordable Care Act. Trump and his supporters worked diligently to address demands made from…

Will the California insurance commissioner be state Sen. Ricardo Lara in 2018?

Lara announced that he will be running for the position next year on the heels of a state health care system proposal. Senator Ricardo Lara (D-Bell Gardens) announced his intention to run for California insurance commissioner in 2018. This, only one month after submitting a proposal for a single-payer state health care system. This makes…

Will California flood insurance be better without federal involvement?

The state is considering dropping out of the nationwide program in favor of establishing its own. California flood insurance found itself in the spotlight last month when the Oroville Dam threatened to fail. Erosion at the base of the dam’s emergency spillway forced the evacuation of 180,000 people until the area could be deemed safe…

New life insurance rules could make rates noticeably cheaper

People who have hesitated to purchase a policy may find that they have new motivation on its way. Changes to life insurance rules in all states except three are more than likely to bring rates down by a considerable amount. There have already been at least two insurance companies that have decreased their term life…

AIG insurance company CEO steps down following huge loss

Peter Hancock has opted to leave his current position with the insurer following a tremendous loss. It has been only three weeks since the report of massive losses from AIG and the insurance company CEO, Peter Hancock, has chosen to step down from his position. Hancock has been the AIG CEO for less than three…

Allstate auto insurance rates are going up for Illinois drivers

The insurer has increased premiums in the state by an average of 6 percent, following a statewide trend. Allstate auto insurance customers are about to face an increase in the rates they’re paying for their policies. This announcement was made only 6 months after a similar one was made State Farm, the largest car insurance…

Cyber insurance market growth is fast and healthy, says Swiss Re

As worries over the impact of a hack, data breach or other similar risks, firms are insuring themselves. Swiss Re released a statement describing considerable growth trends in the cyber insurance market. The reinsurance firm pointed out that businesses are starting to see the importance of coverage in an environment where risks are skyrocketing. The…

Will Trump health care system lower your premiums?

Despite the intention to sell health insurance across state lines, many don’t forecast dropping rates. President Donald Trump spoke before Congress for the first time and reaffirmed his intention for a new Trump health care system. Among the primary changes to the Affordable Care Act (Obamacare) would be the ability for health insurance companies to…

Warren Buffet says the auto insurance industry will suffer from self-driving cars

The Berkshire Hathaway CEO’s predictions are in direct opposition to previous thoughts on the subject. While most of the auto insurance industry predictions about self-driving cars have had to do with reduced rates, Warren Buffett has taken a different perspective. Instead, the Berkshire Hathaway CEO believes it should be considered a significant threat. The billionaire…

Millennial insurance jobs are constantly underestimated despite vocation probable

This technology is only just commencing to faucet into an industry that is open up for commencing and increasing options. Millennial insurance jobs are proving to be amongst the employment options that have the finest probable for that technology. They are taking positions from claims adjusters to facts experts and underwriters in which there are…