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3+ hour, 3+ min ago (483+ words) Have you noticed how an insurance agent or call-centre executive never lets go when they want to sell you a policy or renewal? That may sound harsh, but the frustration is widespread " and growing. Recently, a senior retired insurance executive wrote on LinkedIn about his experience as a motor insurance customer. His two cars were insured through a broker belonging to the same conglomerate that manufactures and sells that brand of vehicle. Everything should have been seamless, smooth and professional. Instead, it unfolded like an existential satire. He emailed them regarding a requirement related to the issuance of the policy as there was no direct line to speak to anyone. He did receive a response " but before he could even read the email, another message arrived declaring that his service request had been "resolved" and closed. In his words, dripping…...

3+ hour, 56+ min ago (491+ words) Have you noticed how an insurance agent or call-centre executive never lets go when they want to sell you a policy or renewal? That may sound harsh, but the frustration is widespread " and growing. Recently, a senior retired insurance executive wrote on LinkedIn about his experience as a motor insurance customer. His two cars were insured through a broker belonging to the same conglomerate that manufactures and sells that brand of vehicle. Everything should have been seamless, smooth and professional. Instead, it unfolded like an existential satire. He emailed them regarding a requirement related to the issuance of the policy as there was no direct line to speak to anyone. He did receive a response " but before he could even read the email, another message arrived declaring that his service request had been "resolved" and closed. In his words, dripping…...

4+ hour, 13+ min ago (451+ words) A new study shows Americans are willing to let AI make their insurance choices, revealing how far trust in algorithms has gone In just a few short years, artificial intelligence has shifted from an obscure technology that most people had barely heard of, let alone used, to a presence integrated into daily life, whether we like it or not. Now, according to a new study, a growing number of Americans are apparently turning to AI to help them find the best car insurance deals. Read: The Hidden Feature In Your Car That's Quietly Raising Your Insurance Bill As part of a survey of 3,002 drivers across the United States, Insurify found that 42 percent have used AI assistants to help them find car insurance. The same study revealed that 86 percent of Americans trust AI to guide them through the process of buying…...

4+ hour, 33+ min ago (308+ words) A new survey reveals consumer frustration with auto insurance pricing models and growing support for more transparency in how policies are priced and for telematics. The new research from mobility data and analytics company Arity suggests that drivers who feel that their auto insurance premium doesn't reflect how they actually drive have plenty of company. In a survey of 1,000 U.S. drivers with characteristics that may impact insurance access'such as lapsed coverage, traffic violations, or low credit scores'Arity uncovered a recurring theme: Many feel penalized by traditional proxies of risk. A majority of respondents said they believe their current policy doesn't reflect their real-world driving behavior and 70% said they've felt unfairly judged or stereotyped when shopping for auto insurance. "Drivers are telling us loud and clear: They want accuracy, transparency, and control," commented Gary Hallgren, president of Arity. "This survey sheds light…...

4+ hour, 33+ min ago (593+ words) GEICO insurance companies can't dismiss a South Carolina lawsuit that demands they pay almost $70 million in back taxes and penalties, a federal judge ruled in a case that could ultimately affect how insurance taxes are collected by cities in that state and others. "Municipalities clearly have the authority to enact ordinances authorizing MASC (the Municipal Association of South Carolina) to act as their administrator for the purpose of administrating and collecting business license taxes from insurance companies," U.S. District Judge Joseph Anderson wrote in his Nov. 12 order. MASC contends that GEICO companies failed to pay the full amount of taxes for 2021, 2022, 2023 and 2024, and now owe more than $30 million in taxes and $39 million in penalties. The association concluded that GEICO has underpaid its taxes because most other carriers that write similar numbers of policies in the state remit a larger amount of…...

1+ day, 11+ hour ago (601+ words) An insured driver learns his long-standing motor policy won't be renewed despite a minor claim. Experts reveal how insurers rely on broad risk decisions, poor data use, and arbitrary practices, leaving customers helpless....

1+ day, 20+ hour ago (575+ words) Successful reforms targeting medical malpractice in 1975 and workers' compensation in 1991 solved Louisiana's insurance crises of those times. Putting the current auto liability crisis into that historical context may help provide a path for the present. In 1975, Louisiana enacted medical malpractice reform legislation aimed at addressing the escalating costs and diminishing availability of medical malpractice insurance. The legislation introduced a cap on noneconomic damage and limited awards for pain and suffering to $500,000, while allowing unlimited economic damages. This reform was designed to stabilize the medical malpractice insurance market, reduce the burden on health care providers and ensure that patients still had access to necessary medical services. At the same time, legislators created an underwriting entity, the Patients' Compensation Fund (PCF), to spur the market. Today, this insurance market is stable, competitive and healthy. In 1991, Louisiana passed comprehensive workers' compensation reform legislation…...

1+ day, 21+ hour ago (749+ words) Canadian drivers are experiencing significant car insurance renewal increases, with some facing premium jumps of over $750 annually. Understanding why your insurance premium rises at renewal time and implementing proactive strategies can help you avoid these costly surprises and maintain affordable coverage. Common reasons your car insurance premium increases at renewal Driving record changes that impact your rates Your driving history remains the most significant factor affecting insurance rates. Even a single at-fault accident can increase your premium, while traffic violations eliminate valuable accident-free driving discounts. Insurance companies continuously monitor your driving record, and any new incidents since your last renewal will likely be reflected in your updated premium. Recent data from the Insurance Bureau of Canada shows that insurers are seeing auto insurance claims costs rise faster than general inflation rates. This trend directly impacts renewal pricing, as companies adjust…...

2+ day, 5+ hour ago (383+ words) The majority of young drivers use some form of telematics policy in the UK as premium prices forces their hands. Oops, something went wrong Younger drivers forced into telematics by vast difference in premiums Premium prices for the youngest drivers in the UK continue to be priced aggressively and are forcing younger people into telematics policies. Over half of UK consumers between 18 and 25 years old who have a motor insurance policy have some form of telematics policy. Market research firm Consumer Intelligence found that the youngest group (1719-year-olds) pay 83% more for traditional cover than telematics (2,712 [$3,589] on average), according to the Insurance Times. GlobalData's 2024 UK Insurance Consumer Survey data backs up this vast difference in premiums as it shows that the youngest age group are more likely to have a telematics policy than a traditional one. It found that 68.0% of 1825-year-olds…...

2+ day, 12+ hour ago (521+ words) These days, buying car insurance is quicker and easier than ever. You no longer need to stop by an insurance office or wait on agents to complete your policy. A few clicks let you check out different options, purchase car insurance online, and get the policy papers delivered straight to your email. Still even with the ease of online insurance, keeping the correct documents handy makes the process smoother. This guide explains what papers you will need to buy or renew your car insurance online in India. Insurers need documents to verify your identity, car ownership, and vehicle condition. This helps prevent fraud, maintain accurate records, and decide the right premium. Proper documentation also supports smooth claim processing. When buying car insurance online, you simply upload the required files digitally through the insurer's app or website. When you purchase car…...