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Insurance News Beat: Cyber insurance, Long-term Care Future, Social Media Trends & More

Cyber Liability - The Wall Street Journal reports that a survey of risk management professionals across multiple business sectors  by Experian shows a growing interest in cyber insurance. Of those surveyed, 31% report that they have cyber security insurance policies, while 39% said they plan to purchase a policy in the future. Related: Top 5 Questions Clients Ask About Cyber Liability - Protect both your clients and your agency’s E&O by explaining this critical coverage. Read about the most important questions your clients will ask.

 

Obamacare developments - State Premium Watch: Pricing In The New Insurance Marketplaces - Kaiser Health News is tracking rates approved 2014 premiums and other details about individual and small group insurance plans that will available on the marketplaces, also called exchanges. Those rates do not take into account the federal tax credits that many people will be eligible for. In addition, the federal government must give final approval to the plans in September.

 

Long-term Care Insurance - A new study by the American Association for Long Term Care Insurance (AALTCI) predicts that Long-term Care Insurance Claim Payments to Quadruple: "The nation's long term care insurance companies are expected to pay $15 Billion annually to policyholders a decade from now and more than twice that amount in 2032 when today's 60 year olds reach their 80s."

 

Mobile transformation - In a short video clip, Jeffrey Junkas, PCI’s regional manager of state government relations, provides an update on mobile technologies and how they are transforming customer service as well as legislation affecting the use of mobile devices in the P&C industry. He also discusses the varied ways carriers are looking to deploy mobile technologies to service customers, today and in the future.

 

News Briefs

  • 6 Social Media Trends You Need to Know Now
  • What's Really Important to Agents
  • Small Business in IRS Sights
  • Poll: Majority Favors Charging Smokers Higher Insurance Rates, But Not Overweight People
  • Social Media Use By Older Americans Has Nearly Tripled Since 2009 [Study]
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    State News Notes

    • New Hampshire - NCCI Filing Seeks Decrease in N.H. Workers’ Comp Loss Costs, Assigned Risk Rates
    • Massachusetts - Spike in Hurricane Sandy Title Scams
    • Connecticut - Regulator Advises Consumers: Don’t Be Fooled by Misleading Ads
    • Massachusetts - New Flood Zone Maps Raise fears on Cape - See also: Learn about Flood Map Updates schedule
    • Connecticut - Gov. Malloy: State’s Sandy Relief Plan Earns Federal Approval
    • Massachusetts - repeals portions of state health care reform law
    • Rhode Island - Laws Extend Paid Benefits To Caregivers
    • Connecticut  - launches long-term care site to complement state’s health insurance marketplace
    • Connecticut - State Releases Rates For Health Exchange Plans
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