insurance industry regulation Archives

Auto insurance rates are strikingly higher in some states than others

August 24, 2016August 22, 2016 Logan B.

A new study has revealed a major difference in premiums and Alabama drivers continue to pay more. Quadrant Information Services and insuranceQuotes.com have jointly released an auto insurance rates study. Within it, they named Alabama as the fourth most expensive state for drivers to be insured. The research examined some of the factors that play a role in making this coverage more expensive. What was found was that Alabama drivers pay more in auto insurance rates because of state regulations. Insurance companies in the state are permitted to use driving…

Insurance industry could soon see greater federal flexibility

July 30, 2013July 27, 2013 H. Cutner

Senators have now proposed a bill that could give the Federal Reserve more wiggle room. A bipartisan group made up of U.S. senators has now proposed a new bill that would provide the Federal Reserve a larger amount of flexibility for the regulation of companies that are systemically important to the insurance industry, such as American International Group Inc. (AIG). This new bill is meant to put new “capital standards” into place that are customized to the “unique characteristics”. This, according to the bill, which had senators sponsoring it who…

Insurance news in the E.U. shows consumers preparing for G-Day

November 21, 2012November 20, 2012 Julie Campbell

Starting in December, the massive upheaval in premiums will kick in as gender is no longer a coverage factor. The insurance news that will rock the European Union next month will explode as policyholders open their bills and discover that the premiums that they had previously been quoted will experience a notable difference. A European Court of Justice ruling has said that gender cannot be used to calculate premiums. This means that insurers will no longer be able to take into account whether a customer is a man or woman…