Millenials are most active generation to buy homes in 2017

(Washington, DC – Insurance 360) – Although inventory constraints and costs kept potential millennial-aged home buyers from  leaving their parents’ homes, that age group accounted for about 36 percent of home purchases in 2017, according to the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends Study. The study revealed that proximity to […]

Home sales increased three percent in February

(Washington, DC – Insurance News 360) – Low inventory and fast price growth did not hamper existing home sales in February, according to the National Association of Realtors (NAR). Instead, existing home sales increased three percent to 5.54 million (a seasonally adjusted annual rate), up from 5.38 million in January. This brings sales up 1.1 […]

Geico, Liberty Mutual and Allstate announce Agreement to Eliminate Use of Occupation, Education as Insurance Rate Considerations

(New York, NY – Insurance News 360) – To comply with New York’s regulation that prohibits use of occupational status and educational level in considering an individual’s automobile insurance rates, three of the larger automobile insurance companies in the state have pledged not to use those factors. Geico, Allstate, and Liberty Mutual provide almost half […]

QBE Insurance fined $750,000 for issuing impermissible insurance coverage for college students

(New York, NY – Insurance News 360) – New York Financial Services Superintendent Maria T. Vullo announced punishment of QBE Insurance Corp., for issuing accident-only coverage to colleges and universities in New York. As of March 15, the company had ceased selling these policies, which did not comply with the Affordable Care Act or New […]

In an opinion column, North Carolina Insurance Commissioner Calls for Congress to Keep SHIIP Funding

(Raleigh, NC – Insurance News 360) – Commissioner Mike Caumey encouraged Congressional leaders to preserve the funding that goes to programs like North Carolina’s Seniors Health Insurance Information Program (SHIIP).  The North Carolina program gets $1.4 million each year, or 65 percent of their budget, from  federal funds. It saved the state’s seniors $60 million […]

Verisk prefill SmartSource Makes Property Insurance Quoting Easier

(Jersey City, N.J. – Insurance News 360) – Data analytics provider Verisk released SmartSource, a new property characteristics prefill program to speed up property insurance quoting processes, and to address questions of data reliability. It inputs property information into the Verisk replacement cost calculator, 360Value. “Consumer expectations are rapidly changing, and insurers are constantly being […]

In an opinion column, North Carolina Insurance Commissioner Calls for Congress to Keep SHIIP Funding

(Raleigh, NC – Insurance News 360) – Commissioner Mike Caumey encouraged Congressional leaders to preserve the funding that goes to programs like North Carolina’s Seniors Health Insurance Information Program (SHIIP).  The North Carolina program gets $1.4 million each year, or 65 percent of their budget, from  federal funds. It saved the state’s seniors $60 million […]

Verisk prefill SmartSource Makes Property Insurance Quoting Easier

(Jersey City, N.J. – Insurance News 360) – Data analytics provider Verisk released SmartSource, a new property characteristics prefill program to speed up property insurance quoting processes, and to address questions of data reliability. It inputs property information into the Verisk replacement cost calculator, 360Value. “Consumer expectations are rapidly changing, and insurers are constantly being […]

Oregon recovers more than $3.4 million for consumers in 2017

(Salem, OR – Insurance News 360) – On March 8, the Oregon Division of Financial Regulation announced that in the previous year, their investigations of insurance complaints had resulted in recovery of more than $3.4 million for individuals in more than 4,000 cases. The biggest reason consumers filed complaints against their insurance companies were claim […]

National Association of Realtors Calls on Congress to Pass Provision Extending Flood Insurance Program

(Washington, DC – Insurance News 360) – The National Association of Realtors urged congress on March 22 to pass the omnibus appropriations bill, which included funding provisions that relate to housing matters. Realtors have been fighting for provisions that stop the weakening of the Low-Income Housing Tax Credit (LIHTC) from the new tax law, and […]