Live Insurance News

Property and casualty insurance rates increased by 5 percent last month

May 11, 2013May 25, 2013 G. Turner

Property insurance News commercial P&C insurance

According to MarketScout data, the prices rose in April for policyholders of commercial products. According to a report from MarketScout, the rates for commercial property and casualty insurance rose by an average of 5 percent in April 2013, when compared to the rates that were being charged a year before. It was workers compensation and commercial property that saw the largest increases over a year. The commercial property and casualty insurance and workers compensation saw a combined average rate increase of 6 percent. Surety and employment liability coverage each increased…

Airline insurance becomes more affordable with reduced crashes

May 10, 2013May 25, 2013 H. Cutner

These companies will benefit from lower rates that are possible because the claims have become less expensive. For the third year in a row, the premiums for airline insurance are on their way down as the direct result of increased insurer competition and reduced incidences of crashes so that claims stay low. In fact, claims have fallen by a considerable 20 percent within the last year, making coverage less costly. According to a report from Aon Risk Solutions, the claims for airline insurance fell last year by 20 percent, to…

Berkshire Hathaway to expand commercial insurance lines

May 9, 2013May 25, 2013 Logan B.

Commercial insurance proves attractive for Berkshire Hathaway Berkshire Hathaway, a multinational conglomerate with strong ties to the insurance industry, has somewhat ambitious plans to expand its commercial insurance business in the coming years. The company has remained somewhat stagnant with its commercial lines for some time, biding its time and hoping to ride out some of the turbulence that has been common throughout the insurance industry recently. The company recently acquired four new executives from the American International Group (AIG), and now plans to put more focus on its commercial…

eQuoteMD Hits Sales Milestone in Number of Physicians Served

April 9, 2013April 21, 2014 Guest Author

A unique, dedicated broker service helps physicians find medical malpractice insurance. St. Louis, MO April 09, 2013: As an online service providing quotes for medical malpractice insurance to physicians, eQuoteMD has achieved a milestone in both the number of physicians served and total premium volume sold. The website, launched only two years ago, has helped thousands of physicians with quotes, policy comparisons, and insurance coverage for malpractice risks. Company executives credit the success to the combination of the ease of use for the customer, collaboration with industry experts, and the…

5 Reasons to Review your Medical Malpractice Insurance

March 24, 2013April 21, 2014 Guest Author

Medical Malpractice Insurance – Remember to Review Before You Renew! Few physicians, if any, would argue that it’s important to ensure no lapse in your medical malpractice insurance coverage. Too many, though, fail to put as much attention where it’s desperately needed – when it’s time to renew their policy. A thorough review of the proposed coverage is essential, whenever your policy is due for renewal. Premiums and levels of coverage can change, sometimes in your favor, sometimes not. There are many factors that can affect the level of protection…

Homeowners insurance depopulation continues for Citizens

February 23, 2013February 21, 2013 Marc

Florida-run insurer continues to let go of homeowners insurance policies Florida’s Citizens Property Insurance continues to face significant challenges. The state-run organization has been one of the best, if not the only, places to find affordable homeowners insurance coverage for many Florida residents, especially those living near the coast. Over the past few years, the insurer has been grappling with dubious financial issues that have threatened to make it insolvent. Ordered to address this issue aggressively, the insurer has been actively depopulating itself of policies. 31,000 policies to be taken…

Five Tips for Keeping Errors and Omissions Insurance Costs Down

January 30, 2013April 13, 2014 Guest Author

In our lawsuit-happy society, in which even the spillage of hot coffee can lead to a multi-million dollar settlement, virtually every business needs some form of errors and omissions (E&O) insurance. Also referred to as professional liability insurance, professional indemnity insurance and, in the medical field, malpractice insurance, E&O insurance covers various types of businesses against the costs associated with civil lawsuits. The economy remains strained, however, and business executives want to know how they can minimize the cost of E&O insurance. In this article, we’ll look at five ways…