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Insurance heavy hitters Jackson National Life and New York Life have had a pretty good year for sales so far, according to their semi-annual sales figures. And it has not been an easy market. Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends. While neither firm was able to break out sales through advisory channels at press time, Jackson said total sales and deposits were up 54% to $9.4 billion as of June, driven primarily by an 81% boost in variable annuity sales to $6.8 billion. Over the same period, the company sold $915 million in fixed annuities, up 7% over the same period in 2009. Jackson says its success is primarily down to “maintaining discipline in our product pricing and operational expenses,” according to Clark Manning, Jackson’s president and CEO.Roughly translated, this means Jackson’s prices have remained stable at a time when other firms have had to jack theirs up to cover liabilities caused by underpriced riders (see “Annuities After the Deluge,” in BIC’s June issue). “It’s sounds like Jackson is saying that it priced wisely in the past and now its products look more attractive [than competitors’],” says Michael White, president of Michael White Associates in Radnor, Pa., which aggregates insurance sales data in the bank channel from bank holding company reports. “If that’s the case, my hat’s off to them.”Meanwhile, New York Life reported “record” sales of $870 million in immediate income annuities in the first half of this year, up 2% from last year.The firm says its success in these products, in which it says it is the top seller, is due to a combination of its perceived strength in the market combined with investor fears over whether their nest eggs will support their retirement. White is inclined to agree. “It doesn’t surprise me that New York Life would see growth in immediate annuities,” he says. “People need streams of income and they’re so panicked over the state of their retirement savings that preserving assets is the most meaningful factor for them.”

Recent figures released by the Association of British Insurers (ABI) have revealed that insurance companies uncovered 122,000 fraudulent insurance claims in 2009, up 14% on the figure for 2008. Stats suggest that 4% of all claims by value in 2009 were fraudulent, a figure that is nearly double that of five years ago.

As well as this, the ABI reported that the value of bogus claims has also risen by 14% on 2008 figures. The result of these claims is that insurance companies have seen motor and home insurance policies push the value of detected insurance fraud to a record £840m in 2009.

Although not the highest by value, the ABI have reported that the highest number of bogus claims was detected in home insurance, with 62,000 false or exaggerated claims picked up in 2009 alone.

Reacting to these worrying statistics, the ABI’s director of general insurance and health, Nick Starling, has warned potential fraudsters that they are “more likely than ever to get caught, leading to more expensive and harder to obtain insurance and credit, and the possibility of a criminal record.” This stark warning should help remind people thinking of placing a bogus claim of the foolishness of their decision and the likely outcome of it.

A potential implication of the rise in bogus claims is that honest consumers will see their premiums rise through no fault of their own. However, with consumers already hard pressed to afford a reported 11.5% increase in car insurance alone, insurers would risk seeing people take their chances without insurance should they choose to increase their premium rates.

Cheap homeowner’s insurance quotes aren’t hard to come by. You just need to make sure your home is already as safe as you can make it, and that you buy from an insurance company that will adequately fill in the gaps when unexpected disasters strike.

Cheap homeowner’s insurance quotes are generally given to those homeowners who have gone the extra mile when it comes to protecting both the structure and the contents of their homes, as well as anyone who comes onto their properties. Protecting the structure of your home means taking the necessary steps to safeguard it against water and fire damage, severe weather conditions normal to your location, and theft. Of course, these steps also help protect the contents of your home, but it’s wise to store your most precious items (for example, expensive jewelry) somewhere even safer, such as in a bank safety deposit box. You can help protect visitors on your property by making sure safety hazards such as loose steps, wobbly banisters, and broken concrete are repaired.

Cheap homeowner’s insurance quotes are most often offered by reliable and reputable homeowner’s insurance companies. You must be careful when choosing an insurance company from which to purchase your homeowner’s insurance policy. Not only do you want to choose an insurance company with a great financial rating, but you also want a company that is licensed to sell homeowner’s insurance in your state.

While it’s not common for an insurance company to file bankruptcy, given the heavy regulation of the insurance business, it’s still wise to purchase a policy from a company with a strong financial background. This way, you won’t have to worry about obtaining the money to repair or rebuild your home if disaster strikes. Too, doing business with an insurance company licensed in your state means that your state’s insurance department can help you if there are ever any problems with claims or receiving payment. These factors fit into the equation of getting a cheap homeowner’s insurance quote. For free quotes and a lot of information about insurance please visit the following recommended sites.

Does home insurance cover when I rent out the house and the tenant causes a house fire (assuming the house completely burnt down)? If not, do I need to buy landlord’s insurance or ask the tenant to buy renter’s insurance? Where can i compare home insures? Thanks

With so many consumers now using smartphones, insurers are seeing an increase in “gadget” claims. U.K.-based gadget insurer, Protect Your Bubble, says one in five iPhone users have made an insurance claim during the past 12 months. And the company has heard a variety of iPhone insurance claims during that time. Their favorites include “I dropped it from a hot air balloon” and “my dog mistook it for his favourite toy and chewed it to bits.” Other unusual claims include “I lost it while skydiving,” “I dropped it in a blender” and “It fell into the kettle.” Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends. Most common claims include cracked screens, lost or stolen iPhones and iPhones dropped in the toilet or bath. Other common iPhone claims, according to the insurer:• Couldn’t hear the other person when making a call• Leaving phone on the car roof and it fell off while driving• Pet knocked the phone off a surface• Internet connection completely broken• iPhone doesn’t charge• Screen freezesThe study found that 45% of claims have been for accidental damage to iPhones. According to Protect Your Bubble, one unlucky customer lost his iPhone after leaning over the side of a boat in Cyprus, to see it fall out of the rucksack and plop into the sea. And one owner reckons he was happily sitting in the local pub, when a friend spilled his pint of beer all over his phone.Other iPhone insurance claims include losing the phone under the wheels of a bus after it flew out of a pocket, and a teenager being forced to hand over his phone to thugs after they threatened him with a machete.Other more usual claims include losing internet connection, screen freeze, pets knocking the phone off a work surface and the fact the phone doesn’t charge.The insurer’s top 10 most bizarre iPhone Claims:1. I dropped it from a hot air balloon2. I lost it while skydiving3. It broke when my son used it as a table tennis racket4. I lost it while building a sand castle for the kids5. I accidentally buried it in the garden6. It fell into the kettle7. I dropped it in a food blender8. My dog chewed it to pieces9. Juice from a defrosting piece of meat leaked into it  10. It flew out of the car window

One of the UK’s top car insurance providers, Admiral, is looking to expand its business by providing home insurance cover as of next year.

Admiral currently insures 6% of the cars on UK roads and, as an established name in the insurance industry, it expects that its transition into home insurance will not be one that leaves current customers with increased premium costs. This confidence is based on the fact that Admiral owns price comparison websites confused.com and elephant.co.uk, which means that it will be able to avoid expensive advertising and marketing campaigns, as it will be able to advertise its new service on these websites.

Despite rivals Moneysupermarket.com and Go Compare making up 69% of the market along with Admiral, the insurance provider is still confident that the success of its own price comparison websites will provide enough advertising exposure to avoid having to run a costly marketing campaign.

Admiral’s confidence is shared by at least one insurance analyst, who is certain that Admiral can make a success of its move into household cover. The expert believes that if Admiral is able to offer competitive premium rates by identifying and targeting a number of key areas of home insurance which are currently overpriced, it will be able to attract customers looking for better deals.

Despite its success over recent years, Admiral believes that in order to continue to grow as a company it needs to diversify into new areas. By gaining a foothold in the home insurance business, the company will put itself in the best position to expand further.