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The auto insurance industry is ‘in a mess’ after Trump’s auto insurance mandate

Insurance companies are in “a mess,” and some are warning President Donald Trump’s new rule will hurt consumers, according to industry publications.The Wall Street Journal said insurers are “muted in their warnings,” and in a letter to the president Friday, AARP said consumers are getting less coverage than they could have, and insurers have “made […]

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How much will insurance companies charge for car insurance?

Insurance companies are already paying more for car coverage than they were five years ago, with average annual premium increases of 25% in 2017, according to a new report from the Insurance Institute for Highway Safety (IIHS).The IIHS said premium increases for 2017 have been the highest since the program started in 2010.The IIS estimates […]

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Why is auto insurance not covering this?

Insurers and the industry are struggling to keep pace with demand for car insurance.Photo: Rob Homer Insurers are also struggling to provide a robust data platform for their customers to access data and monitor their coverage.They also are not keeping up with rising costs.Insurance industry consultant John Macdonald said it was a “major problem” that […]

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How to write a better insurance contract

In this installment of Insuring the Future, I’m taking a look at the different ways in which the insurance industry is trying to improve the business of insurance.Insuringthefuture.com, our new premium subscription service, provides the world with a unique view into the ins and outs of the insurance business.Insuring the future: How insurers are trying […]

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New York State’s insurers: Where are they today

New York state’s insurers are on track to break a four-year streak of having the most expensive auto insurance in the nation, according to a new analysis.The study by the state’s Department of Insurance found that the average rate for a car insurance policy sold in the state is $1,072, a 25% increase from 2014.The […]

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Insurance industry market grows to a record level in 2016

Insurers have grown their market share by almost 30% to almost $1 trillion, according to new data released on Wednesday.The number of insurance companies in the US grew by 27% to 2.5 million, up from 1.7 million in 2016, the Federal Trade Commission said in a release.Insurers have been working to make up for the […]

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What you need to know about car insurance coverage

The average car insurance premium is about $1,400 per year, according to data from the Insurance Information Institute.If you are in a car accident, it could be up to $6,000.It could also be more, depending on how serious your injuries are and the amount of damage.That’s according to the Insurance Institute for Highway Safety, which […]

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Why are auto insurance companies so keen on a Rs 3,000 crore project to build India’s first 3D printed life insurance?

IANS By Anupam BehariaAIMS India-based insurance company AIMS has announced a Rs3,000-crore investment to develop a 3D-printed life insurance product in India.The company, which has already been investing in 3D printing of life insurance, has also approached the central government for financial assistance for the project.It is aiming to start a production of life insurers […]

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How to get a premium increase, with no extra costs

Insurance companies are using a technique called “insurance industry job” to get consumers more bang for their buck.The idea is that if you have an insurance company, you are a better value than a competitor because they have been trained in the insurances business, which allows them to lower premiums and offer better insurance.The trick, […]

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When will Irish car insurance go off the market?

The Irish insurance industry is struggling to find an answer to what will happen to Irish car insurers after the introduction of new car insurance policies.In September, the European Commission proposed that car insurance providers across the continent must be able to offer more flexible policies, which would allow them to offer the same coverage […]

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