Feeds:
Posts
Comments

Archive for the ‘Insurance’ Category

Almost Two in Three Renters Lack Renter’s Insurance

SAN FRANCISCO, March 11, 2013, Only 34% of Americans who rent their homes or apartments have renter’s insurance, according to a new survey released today by InsuranceQuotes.com, a Bankrate (NYSE: RATE) company.

InsuranceQuotes.com also found that 60% of Americans incorrectly pegged the annual cost of renter’s insurance at $250 per year or more. Twenty-one percent thought renter’s insurance cost a whopping $1,000 per year or more. The correct answer (according to the National Association of Insurance Commissioners) is $185 per year.

“Renter’s insurance is a lot more affordable than most people think,” said Laura Adams , senior insurance analyst, InsuranceQuotes.com. “Most renters don’t realize that their landlord’s insurance usually only covers the structure and not the renter’s belongings. And even in a safe area, renters can fall victim to theft, fire, water damage or another calamity. Fifteen dollars a month is a small price to pay in order to protect your possessions and liability in a lawsuit.”

The InsuranceQuotes.com survey found that the most common reasons for lacking renter’s insurance are “my apartment or rental home has good security” (cited as an important reason by 57% of those who lack renter’s insurance), “renter’s insurance is too expensive” (52%) and “my landlord has insurance” (48%).

InsuranceQuotes.com also found that only 28% of those who have renter’s insurance received the recommended three or more policy quotes before purchasing.

Consumers can compare quotes for renter’s insurance and other types of insurance policies at www.InsuranceQuotes.com.

The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:

http://www.insurancequotes.com/insurance-for-renters

PSRAI obtained telephone interviews with a nationally representative sample of 1,004 adults living in the continental United States. Telephone interviews were conducted by landline (500) and cell phone (504, including 254 without a landline phone). Interviews were done in English by Princeton Data Source from February 7-10, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.5 percentage points.

About InsuranceQuotes.com:

InsuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.

For more information, visit InsuranceQuotes.com.

InsuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance companies include NetQuote.com and InsureMe.com.

For More Information:

Ted Rossman
Public Relations Manager, Bankrate, Inc.
ted.rossman@bankrate.com
917-368-8635

SOURCE:

InsuranceQuotes.com

 

Advertisements

Read Full Post »

Moving Forward: Payers Weigh in on Priorities for 2013 and Beyond

The Managed Care Executive Group and HTMS survey demonstrates that health plans are optimistic and believe opportunities exist in post-reform era

NASHVILLE, Tenn., Feb. 15, 2013, The Managed Care Executive Group (MCEG) and HTMS, an Emdeon company, today jointly issued their fourth annual report examining critical issues, priorities and challenges for regional health plans in the post-reform era. The report, titled “Moving Forward: Payers Weigh in on Priorities for 2013 and Beyond,” is based on a survey of 75 health plans.

A highlight of this year’s findings was the health plans’ general optimism despite recent industry challenges. According to the survey, 82 percent of payers saw opportunities for their companies related to the Affordable Care Act (ACA).

“A common public perception is that health plans oppose reform,” said Ferris Taylor, strategy and planning director for MCEG and president of Armored Online. “Our findings show that sentiment is not the case. Only 13 percent of the health plans surveyed believe the ACA to be wholly negative for their business. Rather, organizations see opportunity for growth as the market changes.”

Full survey results will be shared during a webinar to be held at 3 pm ET on February 19, 2013. MCEG and HTMS executives will present results regarding how payers are handling operational issues, such as the Medical Loss Ratio (MLR), and challenges presented by the ACA, including participation in state health insurance exchanges (HIX). To register for the online event, visit http://www.htms.com/industrypulse.php.

Overwhelmingly, health plan respondents listed cost containment as their number one priority for 2013. Other continuing trends, such as participation in HIXs, accountable care and health information exchanges, appear to be stronger industry forces. In contrast to the 2012 report, administrative mandates were not a key focus for health plan respondents in the 2013 survey, likely due to the recent ICD-10 implementation deadline extension to October 1, 2014, and the transition to HIPAA 5010 that occurred last year.

Not surprisingly, growth also remained a key payer focus. “Health plans responding to the 2013 survey unanimously listed member retention and growth as their top operational objectives,” said Nancy Wise , vice president of strategic consulting for HTMS. “We believe that current industry drivers, including accountable care and the state HIXs, present opportunities for payers to expand their member base.”

To download a copy of “Moving Forward: Payers Weigh in on Priorities for 2013 and Beyond,” or to view previous research reports, visit http://www.htms.com/industrypulse.php.

About The Managed Care Executive Group

The Managed Care Executive Group (MCEG) is a national organization that provides a forum for the open exchange of information, innovative ideas and experience among senior health plan leaders. MCEG was formed in 1988 to create a comfortable forum for the exchange of ideas, the development of valuable peer relationships and the opportunity to explore the innovation that will transform organizations and the industry. Its 24th Annual Forum begins March 10, 2013. Register at www.mceg.net.

About Emdeon

Emdeon is a leading provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers and patients in the U.S. healthcare system. Emdeon’s product and service offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter. Through the use of Emdeon’s comprehensive suite of products and services, which are designed to easily integrate with existing technology infrastructures, customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle and clinical information exchange processes. For more information, visit www.emdeon.com.

SOURCE: Emdeon Inc.

 

 

Read Full Post »

Allstate offers cold weather tips to protect your home

A few simple tips to help protect your home from the frigid temperatures

NORTHBROOK, Ill., Feb. 8, 2013, Arctic air is bringing blizzard conditions and hard freezes across parts of the Northeast and Northwest this weekend. But there are things you can do to protect your home and property during cold weather.

Freezing and bursting pipes can cause significant damage to homes and Allstate Insurance Company recommends homeowners prepare their homes for cold weather using a few tips.

Allstate and the Insurance Information Institute encourage residents to take a few simple steps to help prevent frozen pipes:

  • Keep the house heated to a minimum of 65 degrees. The temperature inside the walls where the pipes are located is substantially colder than the walls themselves. A temperature lower than 65 degrees will not keep the inside walls from freezing.
  • Identify the location for the main water shutoff in your home. Find out how it works in case you have to use it.
  • Open hot and cold faucets enough to let them drip slowly. Keeping water moving within the pipes will prevent freezing.
  • If you haven’t already, make sure all hoses are disconnected from outside spigots.
  • If you discover that pipes are frozen, don’t wait for them to burst. Take measures to safely thaw them immediately, or call a plumber for assistance.
  • If your pipes burst, first turn off the water and then mop up spills. You don’t want the water to do more damage than it already has.
  • Make temporary repairs and take other steps to protect your property from further damage. Remove any carpet or furniture that can be further damaged from seepage. Save receipts for temporary repairs and take photos of any items that were unsafe to retain to share with your insurance company if you make a claim.

Most homeowners’ policies cover damage resulting from a freeze, but by protecting your home with these cold weather tips, you can avoid a lot of potential damage.

If homeowners encounter damage resulting from cold weather, Allstate encourages you to contact your agent and contact your insurance company.

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan “You’re In Good Hands With Allstate®.” As part of Allstate’s commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.

SOURCE:

Allstate

http://www.allstate.com

 

Read Full Post »

MIB Life Index Reports U.S. Life Insurance Activity up 1.4% in 2012

Index cautiously turns the corner

BRAINTREE, Mass., Jan. 25, 2013, Strength in the first half of the year was sustained in the closing quarters of 2012 driving the MIB Life Index up +1.4% YTD as compared to last year, all ages combined. After bottoming out in 2008, this year’s annual gain in U.S. individual life insurance application activity represents the culmination of a slow, but steady recovery. Year-to-date growth was shared by all age groups, but waning end-of-year activity, particularly in December, could be cause for concern heading into 2013.

“We are very encouraged by the overall positive growth, however we remain cautiously optimistic as growth early in 2012 predominated this year’s results,” said Lee Oliphant , MIB Group’s Chief Executive Officer. Flat December activity for the composite Index, up only +0.3% year-over-year, was further evidenced by sluggish activity in ages 60+ (a key Index driver) up only +1.5% in what is normally a high-performing, double-digit month. Superstorm Sandy wreaked havoc with many insurers’ operations and agent activity in the Mid-Atlantic and Northeastern U.S. late October, which may account for the tame fourth quarter.

Life insurance application activity grew across all three age groups in 2012 with ages 0-44, up +1.0%; ages 45-59, up +0.5%; and ages 60+, up +4.8% YTD as compared with last year. December’s activity was mixed and diminished overall with ages 0-44 up +0.5%; ages 45-59 off -0.6%; and ages 60+,up +1.5%, year-over-year. A retrospective six-quarter analysis (Q4, 2012 – Q3, 2011) shows application activity climbing in Q3 2011 to a peak at the end of Q1 2012 and then waning over the remaining quarters. The most notable trend shifts for 2012: modest growth in ages 0-44 (positive 7 of 12 month) after literally years of decline; nascent strength in ages 45-59 (positive 5 of 12 months); and slowing momentum ages 60+ (evidenced by 2-3% YTD declines in growth from 2009 to 2012). Modest Q4 performance in 2012 for ages 60+ may be related to uncertainty in the estate tax exemption which was settled in the closing days of December.

“This is the first time we’ve seen positive numbers in the ages 44 and below market, but it’s far too early to understand if these trends will endure. This 1% gain on the year may signal ground gained on the industry’s marketing challenges, but again we remain cautious,” says Oliphant.

Review all the 2012 industry trends in detail by registering for MIB’s 2012 Life Index Annual Report (free) at www.mibsolutions.com/regLI or login at www.mibsolutions.com/loginLI.

Monthly Percent Change
(2012/2011)

Dec. 2012

+0.3%

Nov. 2012

-0.8%

Q4 – 2012

+0.8%

YTD 2012

+1.4%

Monthly Percent Change by Age

(2012/2011)

Dec. ’12

Nov. ’12

Oct. ’12

2012 YTD

0 – 44

+0.5%

-0.2%

+2.1%

+1.0%

45- 59

-0.6%

-2.2%

+2.2%

+0.5%

60 +

1.5%

-0.2%

+6.6%

+4.8%

 

U.S. Monthly Percent Change
vs. Prior Month

Dec. 2012

+0.1%

About the MIB Life Index
The MIB Life Index is the life insurance industry’s timeliest measure of application activity in the United States. Released to the media each month, the Index is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service database. Since the vast majority of individually underwritten life premium dollars in North America include an MIB search as a routine underwriting requirement, the MIB Life Index provides a reasonable means to estimate new business activity. For past releases, methodology or to subscribe visit www.mib.com/lifeindex.

About MIB
MIB is the life and health insurance industry’s most trusted resource for risk information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to aggregate industry insights in order to develop products and services for our members that improve their risk assessment. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. (www.mib.com and www.mibsolutions.com).

Contact:
David O. Aronson
MIB Group, Inc.
781-751-6330
daronson@mib.com

SOURCE: MIB Group, Inc.

Read Full Post »

Manulife Financial, John Hancock Investor Sentiment Surveys: Affluent North American Investors Believe They Are Financially On Track

  • Affluent Canadian and American investors optimistic about the future
  • Seventy per cent of affluent North American investors on track to meet financial goals
  • US investor sentiment holds steady while Canadian sentiment rises
  • Canadians and Americans aligned in financial New Year’s resolutions and priorities

TORONTO, Jan. 21, 2013, Affluent North American investors are feeling very optimistic about their personal finances heading into 2013. Seventy per cent of affluent investors in both Canada and the United States agree that they are either ahead of plan, or on track, to meet their personal financial goals and about 50 per cent anticipate that their financial position will improve over the next two years.

Six out of ten affluent Canadian and American investors say that they are on track to meet their current financial goals while roughly 10 per cent say that they are ahead of plan on their goals. Just one in five investors surveyed in both countries indicate that they are behind on their financial goals but they are likely to catch up.

“It’s positive to see that, despite ongoing news about the fiscal cliff, global debt and U.S. debt ceiling, economic uncertainty and other challenges, our surveys indicate that affluent North American investors are feeling very confident about their financial future,” said Paul Lorentz , Executive Vice-President, Investment and Insurance Solutions for Manulife Financial.

The findings are derived from a comparison of the results of the latest Manulife Financial and John Hancock Investor Sentiment Index surveys. The surveys – conducted in Canada and the U.S in December 2012 – measure affluent investors’ feelings about whether or not this is a good time to invest in a variety of savings and investment vehicles and the likelihood of purchasing specific financial products and services.

Investor sentiment differs in North America
In Canada, overall affluent investor sentiment index strengthened in the second half of the year, rising to +31, from +26 in January 2012. In the U.S., investors’ confidence held steady in the fourth quarter of 2012, with the John Hancock Investor Sentiment Index® ticking upward slightly to +18 from a score of +17 in the third quarter of last year.

New Year’s resolutions, financial priorities aligned
Other findings from the surveys show that Canadians and Americans are aligned in their financial New Year’s resolutions and how they plan to achieve their top financial goals.

  • In Canada (31 per cent) and the United States (29 per cent), the top financial-planning related New Year’s Resolution is to trim household budgets.
  • Rebalancing portfolios is the second top resolution for 19 per cent of Canadians and also for 19 per cent of Americans.

Top financial priorities for 2013 among affluent Canadians and Americans differ slightly.

  • Canadians’ top three priorities are to manage/maintain current lifestyle (32 per cent), pay down debt (18 per cent) and save for retirement (15 per cent).
  • American respondents say their top financial priorities are the same: however, they differ in order with maintain/manage their current lifestyle (35 per cent) topping the list followed by, saving for retirement (29 per cent) and paying down debt (11 per cent).

Similar steps to achieving financial goals
When asked what steps, if any, affluent investors are taking to achieve their financial goals, Canadians and Americans identified the same top four steps. However, these steps varied in terms of priority.

Percentage of Affluent investors that indicated what steps they have taken to achieve their financial goals:

Step taken

Affluent Canadians

Affluent Americans

Talked to a   financial
professional for advice

45%

40%

Saved a certain   amount on
a regular basis

41%

59%

Reduced spending

40%

45%

Calculated how much
money needed to achieve
goal

27%

41%

Seven in ten affluent Canadians work with a financial advisor to achieve their financial goals while in the U.S., five in ten affluent investors choose to seek professional financial advice. However, affluent investors in both countries indicated that they work with advisors for a similar reason. Seeking advice on how to get better returns is the main reason for Canadians (24 per cent) and Americans (56 per cent) to work with a professional financial advisor.

“We encourage people to work closely with an advisor and stick to a financial plan,” Mr. Lorentz added. “People with integrated financial plans, working with strong, reliable and trustworthy companies, generally feel better prepared for the future, are more confident about reaching their goals and are better equipped deal with the ups and downs in the economy.”

In both countries, those who do not work with a financial advisor say it is because they feel knowledgeable enough to manage their investments on their own (Canada, 26 per cent, U.S., 43 per cent).

About the Investor Sentiment Index Surveys
Both Investor Sentiment Index surveys are conducted in a similar fashion. The survey measures affluent investors’ feelings about the current economic climate and their evaluations of what represents a good or bad investment given the current environment. The poll also asks consumers about their confidence in reaching key financial goals and the likelihood of purchasing financial products and services.

An online survey of 1,127 investors was conducted in the U.S. between November 26th to December 7th. In Canada, a sample of 1,003 investors were surveyed between November 30th to December 8th. Both surveys included household decision-makers at least 25 years of age, with a household income of $75,000 or greater and investable assets of $100,000 or more.

The Canadian research was conducted by Research House, an Environics Company. The U.S. survey was conducted by independent research firm Mathew Greenwald & Associates.

In a similarly-sized random sample survey, the margin of error would be plus or minus +/- 3.10 percentage points at the 95% confidence level.

About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions.

Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$515 billion (US$523 billion) as at September 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

About John Hancock
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.

SOURCE: Manulife Financial Corporation

Read Full Post »

Only 7% of Americans Spent Less on Insurance Over Past Year

NEW YORK, Jan. 14, 2013, Thirty-seven percent of Americans spent more on insurance over the past year while only 7% spent less, according to new research published today by Bankrate.com (NYSE: RATE). The remaining respondents either spent about the same (52%) or didn’t know/refused to answer (4%).

Of those who spent more, 62% said their spending went up because of rising premiums. The next most popular response was because they bought a new home, car, boat or recreational vehicle (12%). The results reflect Americans’ total spending on all types of insurance (auto, homeowners, renters, health, life, etc.).

“We continue to view rising expenses and stagnant wages as a key financial hurdle for American households,” said Doug Whiteman , insurance analyst, Bankrate.com. “But consumers shouldn’t accept rising insurance premiums without a fight. Compare quotes from at least three other companies, investigate all possible discounts and don’t be afraid to ask your current insurer for a discount. You may be able to get a better deal.”

The new survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:

http://www.bankrate.com/finance/insurance/missing-out-on-insurance-savings.aspx

PSRAI obtained telephone interviews with a nationally representative sample of 1,003 adults living in the continental United States. Telephone interviews were conducted by landline (501) and cell phone (502, including 241 without a landline phone). Interviews were done in English by Princeton Data Source from January 3-6, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca, NetQuote.com, and CD.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information:

Ted Rossman
Public Relations Manager
Bankrate, Inc.
ted.rossman@bankrate.com
(917) 368-8635

www.bankrate.com

SOURCE: Bankrate, Inc.

RELATED LINKS:
http://www.bankrate.com

Read Full Post »