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Why is the insurance industry still in a funk?

The insurance industry is still in the throes of a recession.While unemployment in the insurance sector has been declining, the unemployment rate for workers is still around 10%.While some insurance companies have been getting paid better than they were in 2014, the average annual salary for the industry is only $31,000.What’s more, the insurance companies […]

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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 insurance companies make their money

Insurance companies make money by selling policies to their customers, a new study finds.The study by PricewaterhouseCoopers (PwC) found that insurers have been losing money since the financial crisis, with the average loss of about 1% a year.In 2017, insurers made losses of more than $5.5bn.However, they have made more than twice as much since […]

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When insurers start selling health insurance policies, they’re making history

Insurers say they’re selling more than 200 million health insurance plans in the United States, more than the entire global insurance market.But as they’re expanding, insurers say they need to be more transparent about the prices and benefits that their plans cover, as well as how they’re paying for them.A new study published in the […]

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What’s in your insurance company?

Insurance industry officials are set to release their annual report on insurance market trends next week, and it’s likely the biggest surprise in the report is that the number of people insured in the market is at an all-time low.“This year’s Insurance Industry Review will give us a snapshot of how insurance market fundamentals are […]

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Which Insurance Brokers offer the best rates?

Insurance brokers have been known to charge outrageous prices.They have been called “insiders” in the insurance industry.This is because they know how much you are likely to pay, how much your health care will cost and how much money you will be able to make in a few years.Brokers can also charge you an upfront […]

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Insurers say they are losing money on ObamaCare exchanges

The insurance industry says it is losing billions of dollars on ObamaCare’s online insurance exchanges, a blow to President Barack Obama’s signature healthcare law that is being blamed for creating a shortage of healthcare-related software.Key points:The insurance industry is blaming the ObamaCare exchange for the problems that have plagued online enrollmentThe software that is used […]

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How to Get a Better Rate for Your Health Insurance Coverage

Insurers are expected to start rolling out new rates for health insurance next week, as the industry faces its first significant overhaul since President Donald Trump took office.The industry is also hoping to put a dent in a recent wave of retirements, which are expected as many as 4 million people would be leaving the […]

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What’s next for life insurance?

The Insurance Industry Association of Canada is calling on the federal government to make life insurance the first insurance industry to be allowed to raise rates to $10 per cent.The move would allow insurance companies to charge premiums on a per-person basis.The association, which represents insurance companies, said it’s also calling on Health Canada to […]

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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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