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Insurance News 04/2013



Genworth Wins Approval to Distance Mortgage-Insurance Business
Genworth Financial Inc., the mortgage guarantor and life insurer, said it won approval for a plan to distance its unit that backs home loans from the rest of the company. The insurer still has the option to implement a “NewCo” type structure for its ...

7 Ways You're Being Foolish With Insurance
You can easily do something ridiculous when you buy car insurance. One way is to purchase only the minimum liability coverage required by law and think that that would offer enough financial protection if you cause injuries in an accident, says Ron ...

Pulse on Health: Mind-boggling insurance issues should disappear
Let me suggest to legislators and insurance wonks that it's time to raise insurance premiums — just a little — and completely, forever, and without any guilt get rid of the copayment, formulary, in-network/out-of-network, deductible and doughnut-hole ...

State's health insurance exchange OKs role for independent brokers
The decision to allow insurance agents to earn commissions for bringing customers to the exchange was left to individual states. Connecticut insurance brokers have been on edge, wondering if the state's 14-member exchange board would allow them to ...

Car Insurance Quotes Website AutoInsuranceRatesHQ.com is Launched by ...
Car Insurance Quotes Website AutoInsuranceRatesHQ.com is Launched by ...

New Montana law targets life insurance companies
The law was a response to a series of national settlement agreements in which life insurance companies were charged with making little to no effort to find beneficiaries, instead keeping death benefits for years before turning them over to states as ...

The simple, boring reason why disability insurance has exploded
Last week, we spent some time discussing a recent “This American Life” segment on the extraordinary growth of federal disability insurance, which now costs $260 billion per year. There are now roughly 8.8 million Americans receiving disability benefits ...

Will Obamacare Increase Insurance Costs in New York State?
But, now there is new speculation: Will the ACA dramatically increase the price the average American pays for health insurance coverage? Insurance companies are saying yes, big time! The Obama Administration and analytical organizations like the CBO ...

Arrival of insurance exchanges raise questions about health coverage in 2014
After the exchanges go live in 2014, will consumers still be able to buy individual health insurance directly from carriers, without going through those state-based marketplaces? I fear the rules of the plans operating within the exchange will make the ...

Vt. Is First State to Post Health Insurance Rates
Vermont has become the first state to let people without health insurance see how much they would pay to get coverage through the federal health overhaul beginning next year. The state released proposed rates Monday. Examples show that a family of four ...

Ark. legislative leaders back insurance expansion
LITTLE ROCK, Ark. (AP) — The Republican leaders of the Arkansas House and Senate on Monday endorsed a proposal to purchase private insurance for thousands of low-income workers using federal funds, an idea lawmakers are considering as an ...

Small-Business Insurance-Shopping Feature Is Delayed
The Small Business Health Options Program, or SHOP, is supposed to provide small employers with an insurance marketplace, or exchange, that offers multiple plan options starting in 2014. But the Department of Health and Human Services has proposed ...

Key lawmaker: Abortion-insurance bill won't get a vote in the Senate
Key lawmaker: Abortion-insurance bill won't get a vote in the Senate. Posted by Brian M. Rosenthal. OLYMPIA — One of the most contentious social issues of the 2013 legislative session won't get a vote in the state Senate Health Care Committee, the ...

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Mortgage modifications, auto repair problems, and health and home insurance issues were among top consumer complaints in 2012, two state agencies said Monday. The Massachusetts Office of Consumer Affairs and Business Regulation issued a list of top ...

Cheapcarinsurancenets.com Now Offers Car Insurance Quotes for New Jersey
CheapCarInsurance Nets.com, and online insurance broker company, has announced today that they are now offering drivers in the state of New Jersey the opportunity to get cheap car insurance in New Jersey. New Jersey is notorious for being difficult ...

Timbaland Scamming Insurance Company With Suspicious 'Stolen Watch' Story?!
And the shady saga of Timba's stolen watch continues… The producer, who filed a lawsuit against American Home Assurance Company back in January, clearly wants the money “owed” to him for his missing watch after having claimed that his two-year old ...

Obamacare's Small Business Health Insurance - Is Delay Another Tactic To ...
Obamacare's Small Business Health Insurance - Is Delay Another Tactic To ...

The confused debate over Obamacare and insurance premiums
On Monday, we got a first look at insurance premiums under Obamacare when Vermont's insurers became the first in the nation to set their bids. The answer? Insurance premiums in Vermont will be pretty much the same after Obamacare as they were before ...

Tax credits will help 57000 Central New Yorkers buy health insurance, study ...
Tax credits will help 57000 Central New Yorkers buy health insurance, study ...

Democrats push bill in Congress to require gun insurance under penalty of fine
In Illinois, the House rejected a measure 34-74 that would require people carrying concealed weapons to also carry $1 million in liability insurance. Chicago Democrat Kenneth Dunkin was behind the defeated bill. He said an insurance policy would cost ...

Autism Bankrupts Families, Emotionally...
Autism Bankrupts Families, Emotionally...

Jack-booted Insurance-bringing Thugs
Three generations into the modern welfare state, and western democracies look less Stalinist than ever. Of course, you can still say that social insurance destroys freedom if you define freedom as the absence of social insurance — which isn't quite ...

Travel insurance: Calculating the risk of buying or not
Marcelo Almeida doesn't typically buy travel insurance, though he practically lives on the road. But the thought of his daughter being stranded in Chicago on Christmas Eve while flying home to Coppell, Texas, last year, led him to change his mind. The ...

Six Shadiest Auto Insurance Fraud Schemes
Law enforcement officials say fraud factors into as many as 1 out of every 3 auto insurance claims in New York City. The problem may be even worse in Los Angeles, the city that generates the most questionable claims potentially linked to organized ...

Insurance by almost every school covers injuries like Ware's
Nearly all Division I schools provide insurance covering the type of athletic-related injury Louisville guard Kevin Ware suffered Sunday in an NCAA tournament regional final. INTERACTIVE: What's next for Kevin Ware? "Student-athletes must have ...

California insurance commissioner hits Anthem's rate hike on small businesses
California's insurance commissioner Tuesday criticized another rate increase by Anthem Blue Cross, even while acknowledging he's powerless to stop it. Commissioner Dave Jones ripped Anthem for raising rates 5.2 percent, effective Monday, on small ...

Most individual health insurance isn't good enough for Obamacare - CNN
Starting this fall, they'll be able to shop for and enroll in health insurance through state-based exchanges, with coverage taking effect in January. By 2016, some 24 million people will get insurance through the exchanges, while another 12 million ...

Fix Your Credit -- and Your Car Insurance
Studies by federal and state regulators, universities, independent auditors and insurance companies show that your credit score not only predicts your likelihood of making a claim but also the potential cost of that claim, according to the Property ...

SeeChange Health Ushers In A New Model For Health Insurance
When former California Insurance Commissioner Steve Poizner was reviewing health plan options in 2011 for his online education start-up Empowered, he picked a little-known company called SeeChange Health. “We're being a pioneer, but we're really ...

Democrat behind mandatory insurance for gun owners bill claims she's getting ...
Democrat behind mandatory insurance for gun owners bill claims she's getting ...

A huge win for the insurance lobby
America's Health Insurance Plans (AHIP), the industry's lobby, bought television advertisements and rallied allies in Congress. This trumped calculations by health officials, who said the lower rate reflected a broader slowdown in costs. Second, the ...

Unemployment Insurance in South Africa: A Descriptive Overview of Claimants ...
Unemployment Insurance in South Africa: A Descriptive Overview of Claimants ...

Insurance commissioner takes controversial stands ahead of confirmation
Insurance Commissioner Eleanor Kitzman, who was appointed by Gov. Rick Perry in the interim between legislative sessions, must receive the blessing of two-thirds of the Texas Senate within the next two months. But the commissioner, known for being ...

Ezra Klein: Debate over Obamacare and insurance premiums can be confusing
WASHINGTON — On Monday, we got a first look at insurance premiums under the Affordable Care Act when Vermont's insurers became the first in the nation to set their bids. The answer? Insurance premiums in Vermont will be pretty much the same after ...

Why Long-Term-Care Insurance Premiums Are Soaring
Private insurance companies are seeing many of the same issues, with CNA Financial (CNA) and Manulife Financial (MFC) both having sought or gotten approval from the California Insurance Department to raise their long-term-care premiums by 40 percent ...

Health Insurance Subsidy Could Bring Tax Sting
Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don't accurately project their income. President Barack Obama's new health care law will offer subsidies ...

India to Set Up Insurance Fund for Refiners of Iranian Crude
India will set up an insurance fund worth 20 billion rupees ($364 million) to cover refiners buying crude from Iran, a move that may help them continue purchasing from the Persian Gulf state. The fund, to be managed by India's General Insurance Co ...

Woman Files Insurance Claim For Stolen Items Using Receipts From Store That ...
Woman Files Insurance Claim For Stolen Items Using Receipts From Store That ...

Maine-Based Agencies Turner Barker, Clark Insurance to Merge
With the addition of Turner Barker, Clark Insurance will remain an employee-owned firm, with Maine-based Gorham Savings Bank becoming a minority owner. Clark Insurance established an employee stock ownership plan (ESOP) in 1993 to assure it ...

When Injured Athlete Leaves Campus, College's Responsibility Ends
The broken leg felt round the country — during college basketball's showcase event — left teammates and coaches in tears and television networks turning away from video of the gruesome injury. It also inflamed the debate about the treatment and care ...

Climate Cast: The not so hidden insurance costs of climate change
Every Thursday MPR meteorologist Paul Huttner joins Kerri Miller on The Daily Circuit for "Climate Cast" on MPR News Stations to talk about the latest research on our changing climate and the consequences that we're seeing here in Minnesota and ...

Fitch: China's Insurance Sub-Debt Rules May Weaken Capital Base
(The following statement was released by the rating agency) HONG KONG/LONDON, April 04 (Fitch) The capitalisation of Chinese insurance groups could weaken following the relaxation of subordinated debt issuance rules for holding companies, ...

Bills would adjust how NC regulates homeowners insurance rates
The specter of catastrophic damage from hurricanes has figured into recent rate hikes sought by the insurance industry for homeowners in coastal communities, with coastal critics complaining long and loud about the computer models used. Generating data ...

Regulators probing alleged mortgage insurance kickback scheme
The Consumer Financial Protection Bureau, in disclosing its first action Thursday, said the investigation revolves around a scheme in which banks and other lenders required private mortgage insurers to seek backup insurance from lender-owned ...

Disability insurance, out of control
For millions of American workers, things are looking up. Employers are starting to hire again, new jobless claims are down by a quarter from a year ago and the unemployment rate has dropped from a peak of 10 percent in 2009 to 7.7 percent. It's all a ...

Bills look to rollback Republican insurance reform
Supporters of PL 90 say it's driving down insurance rates, especially small-group and individual market rates in younger and more urban parts of Maine. They argue that will create bigger pools of healthier people that will eventually lead to lower ...

Nationwide Insurance Teams With 'Mad Men'
Nationwide Insurance has made a deal with AMC, the cable channel that is home to “Mad Men,” to become a season-long sponsor of the series, making this the first time the company has advertised on AMC. The agreement, which includes sponsorship of ...

Some Lincoln Co. residents paying more for insurance
(KSDK) - Homes in parts of Lincoln County don't have the same kind of fire protection they used to, and it's costing them in their insurance rates. At least that's what one agency says. ISO, or Insurance Services Offices, is giving rural homeowners ...

Texas Senate approves use of cellphones to prove insurance coverage
AUSTIN — Texas drivers would be allowed to reach for their cellphone rather than root through the glove box to show proof of insurance under a bill the Senate approved Thursday. The measure by Sen. Glenn Hegar, R-Katy, would bring Texas in line with ...

Five Groups That Really do Need Life Insurance
If you have ever said "I do" or welcomed a bundle of joy into the world, chances are you have considered purchasing a life insurance policy. Married couples and parents are among the best candidates for coverage. But if you are single or childless, don ...