A weekly round-up of the insurance industry in the news on the insurance blog. Learn more about what's happening in the insurance industry and submit news online now.
A weekly round-up of the insurance industry in the news:
Property and Casualty Industry Continues to Decline
Although Property and Casualty insurance companies reported profits through 2007, insurance companies expect profits to decline this year. Reports indicate that while price wars have continued to offer ways for people to save money on insurance they have also decreased the money going into insurance company coffers. Insurance companies’ positions are further weakened by the economic downturn.
Aetna, Cigna, Liberty Mutual, Travelers and Bupa Plan to Expand in India
Aetna, Cigna, Travelers and UK-based insurance company Bupa all have plans to expand in India, say reports. Aetna, Cigna and Bupa are rumored to be planning new health insurance companies as part of joint ventures with Indian companies. Liberty Mutual and Travelers are also exploring Property and Casualty partnerships in India, with Travelers rumored to announce a partnership with Indian-based L&T this year.
USAA Insurance Once Again Tops BusinessWeek’s Customer Service “Champs”
USAA insurance, well known for their excellent service, has once again been named the best of BusinessWeek’s “Customer Service Champs.” The magazine reviews customer service standards and how companies use of technology to determine rankings. USAA provides insurance to military members and their families.
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