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Insurance News 06/2013



Connecting to the Health Connector is lots of work for insurance companies
Only the state's two biggest players in the health-care insurance industry — Hawaii Medical Service Association and Kaiser Permanente — have committed to being listed on the Hawaii Health Connector, part of the federal Affordable Care Act. At first ...

Analysis: As hurricanes loom, Florida insurance lives on borrowed time
As a result, when the new six-month hurricane season gets underway on Saturday, state insurance officials say the industry is ready to withstand a major storm. "We are better positioned today than I have seen in 10 years," Kevin McCarty, who heads the ...

Case highlights staged car accidents, PIP insurance fraud in Florida
Although Junel Basile's job title was "driver," what he really did for Metro Chiropractic & Wellness Center, federal authorities say, was recruit people to participate in staged car accidents and meticulously plan the crashes. At the same time, the ...

Scott squandered chance to avert insurance hikes
Republicans in the state Capitol are still waging war on Obamacare, more than three years after the Affordable Care Act became law and almost a year after the U.S. Supreme Court declared it constitutional. The war isn't just pointless. It hurts ...

Young people looking for health insurance have new options
Gray and millions of young men and women like him are a principal focus this year of the insurance industry, as well as state and federal health officials, as they prepare for the bulk of the federal Affordable Care Act to take effect in 2014. Next ...

Insurance firm sues to avoid Miramonte abuse-case settlement
An insurance company has sued the Los Angeles Unified School District seeking to avoid paying settlement costs related to alleged child abuse at Miramonte Elementary School. The action, if successful, could leave the nation's second-largest school ...

Do hurricanes make travel insurance worth it?
The 38-year-old project manager from Toronto has visited 41 countries and in 2006 a travel insurance policy he bought through bulk retailer Costco reimbursed him and a traveling companion for plane tickets and cruise days missed due to a family health ...

Insurance exchanges details still unknown
Across America, an Oct. 1 deadline is approaching for states and the federal government to get web-based health insurance exchanges running and ready to enroll millions of people. The online marketplaces will serve as the main way for individuals and ...

Alex Tolbert: Why do employers offer group health insurance?
It's rare that employers have the opportunity to make decisions that are immediately beneficial for the employer and employees. Health care reform, however, will present many employers with exactly that opportunity in 2014. The opportunity: small ...

Apocalypse Soon: Florida to Partially Privatize Disaster Insurance Program
If hundreds of thousands of people could not afford property insurance, that means that hundreds of thousands of pieces of property could possibly be destroyed in a hurricane and then never rebuilt. Florida could become a wasteland of wrecked homes and ...

Hurricane Season and Florida's Insurance System: Living on Borrowed Time?
As a result, before the new six-month hurricane season got underway on Saturday, state insurance officials said the industry is ready to withstand a major storm. “We are better positioned today than I have seen in 10 years,” Kevin McCarty, who heads ...

Vt. Law Pushes Life Insurance Firms to Pay
Montpelier — Retired bus driver Rodger Brassard says he didn't know he had more than $5,000 coming from his late mother's life insurance policy, but found plenty of uses for the money — including a visit to his daughter in Alaska. Brassard, 67, of ...

Hollywood Docket: US v. Apple; Richard Linklater's Insurance; Kim Dotcom's ...
Hollywood Docket: US v. Apple; Richard Linklater's Insurance; Kim Dotcom's ...

Flood Insurance Premium Bill Must Be Amended, Township Council Says
Toms River officials want changes to U.S. legislation that will increase premium rates for the National Flood Insurance Program and remove grandfathering protection for older homes now placed in more stringent flood zones. Council members last week ...

The six ways Obamacare changes insurance premiums
Perhaps it's worth simplifying this discussion about premiums under Obamacare a bit. This whole conversation is about the individual insurance exchanges, which effectively replace today's individual market (and have nothing to do with the insurance ...

Truven: Obamacare To Add 6M To Medicaid, 21M To Insurance Exchanges
The study — titled “Coverage Expansion Under the ACA: Challenges for Government, Health Plans, and Providers” — draws its conclusions from the Truven Health Insurance Coverage Estimates database, which contains current Medicare, Medicaid and ...

Investors Buying Insurance Against Stocks
Investors Buying Insurance Against Stocks. By STEVEN M. SEARS | MORE ARTICLES BY AUTHOR. The options market turns suddenly bearish as investors load up on puts to hedge their portfolios. Here's how to play defense. Article; Comments. Email; Print ...

How to Calculate Eligibility for Health Insurance Subsidies
Subsidies are expected to be available for the purchase of insurance on the federal and state-run insurance marketplaces scheduled to open Oct. 1 for coverage beginning Jan. 1, 2014. Individuals making up to about $45,000 and families of four making up ...

Senate Insurance Deregulation Bill From Jon Tester, Mike Johanns Would ...
Senate Insurance Deregulation Bill From Jon Tester, Mike Johanns Would ...

Supreme Court Favors Ex-Wife Over Widow In Battle For Life Insurance Proceeds
When Warren Hillman died in 2008 at the age of 66, his assets included a life insurance policy worth $124,558.03. For the past five years his ex-wife and his widow have been fighting over that money. Today the U.S. Supreme Court found that Judy Maretta ...

Flood insurance: Changes in the federal program taking effect
As part of its efforts to keep afloat the Federal Emergency Management Agency — which administers the flood insurance program — Washington passed legislation last year to increase flood premiums. The Biggert-Waters Flood Insurance Reform Act of 2012 ...

Herhold: Examine that water pipe insurance pitch carefully
A few weeks ago, a blue card with the San Jose Water Co.'s logo arrived at my house, addressed to a daughter who hasn't lived at home for six years. The card was hyping the services of a company called Home Emergency Insurance Solutions, which was ...

DC officials, CareFirst at odds over health insurance exchange
Top District officials, including its insurance commissioner, have sharply criticized the region's largest health insurer in recent days, accusing it of “gaming the system” and undermining the city's closely watched efforts to establish a health ...

Home Insurance Bill Protects Against Dropped Coverage After Loss From ...
Home Insurance Bill Protects Against Dropped Coverage After Loss From ...

New Jersey Woman Admits To Defrauding Insurance Company Out Of Six ...
New Jersey Woman Admits To Defrauding Insurance Company Out Of Six ...

Dear Young People, Your Insurance Premiums Are Going Up, Because ...
Dear Young People, Your Insurance Premiums Are Going Up, Because ...

Coastal Homeowners Upset with Insurers, Regulators Over Surge in Insurance ...
Coastal Homeowners Upset with Insurers, Regulators Over Surge in Insurance ...

CEO, Bookkeeper Of Insurance Group Admit Theft
LANSING (WWJ/AP) - The chief executive and bookkeeper of a nonprofit agency that coordinates workers compensation insurance have pleaded guilty to roles in a scheme to embezzle $2.6 million over 11 years. Attorney General Bill Schuette said ...

Will ObamaCare double your health insurance premiums?
hen California unveiled the bid prices for its health care exchanges — the part of the Affordable Care Act where people without employer-sponsored insurance will shop for plans — on May 23, ObamaCare supporters were jubilant that the bids came in ...

List: The 5 largest insurance brokers in Mass.
The first, on page 27 of this week's print edition (subscribers, read it digitally), ranks insurance brokers by Massachusetts premium-dollar volume in 2012. It includes a breakdown by type of insurance, a list of brands carried, the number of ...

Directors Have Bought Big at National Grid, RSA Insurance Group, and Petrofac
LONDON -- The FTSE 100 index is up 12% since the start of the year and up 30% (over 1,250 points) on its 52-week low. Nevertheless, directors at National Grid , RSA Insurance Group and Petrofac Limited have been buying shares in their own companies in ...

Your Health Insurance Company May Owe You Money
Last year health insurance companies sent small businesses $321 million in rebates. In California, tens of millions more are on the way, according to the Los Angeles Times. The money comes from a little-known piece of Obamacare meant to keep premiums ...

Louisiana lawmakers try to block big increases in flood insurance rates
Bill Cassidy, R-Baton Rouge, who is challenging Landrieu in Louisiana's 2014 Senate race, is also offering a delaying amendment for the flood insurance law. He's hoping to add his amendment to a pending House appropriations bill for homeland security, ...

Dear ABC News Fixer: Battling 'Non-Standard Insurance'
Dear ABC News Fixer: Last August, my son, Chad, was in a car accident with a driver who was insured with American Freedom Insurance. The police were called and the other driver received two tickets – for no valid driver's license and failure to stop or ...

Need 'Collectibles Insurance' for Your Treasures?
Many of us have stuff we've collected and consider treasures, from Lionel train sets and salt and pepper shakers to rare photos and books. Your collection may even be quite valuable. Home insurance may not protect your trove in the same way a special ...

Obituary: Robert S. Marcotte, insurance executive
Robert S. Marcotte, 80, who served as president of two life insurance companies, died May 23 of congestive heart failure at Shady Grove Adventist Hospital in Rockville. Mr. Marcotte joined Washington's Equitable Life Insurance Co. as vice president of ...

Showdown In South Carolina Senate Could Rob Thousands Of Their Health ...
Showdown In South Carolina Senate Could Rob Thousands Of Their Health ...

Senate rejects changes to bill banning abortion coverage in health insurance ...
Senate rejects changes to bill banning abortion coverage in health insurance ...

12 horrible pieces of insurance advice
Do not keep your life insurance policy in a safe deposit box. If yours is the only name on the safe deposit box, no one but the executor of your will can get into it without Power of Attorney. If your life insurance policy is locked in there, your ...

Gansler seeks cap on health insurance rate increases
Maryland Attorney General Douglas Gansler urged state regulators Tuesday to cap the amount that insurers can raise premiums under the new health care law to no more than 5 percent until more is known about how the sweeping federal legislation will ...

District 135 eyes 18 percent health insurance hike
Taxpayers and teachers likely will be asked to shell out $1.6 million more next school year to cover health insurance in Orland School District 135. A plan to raise premiums by 18 percent — triple the average increase of the past seven years — is ...

My Turn: Health insurance co-op flops
During the 2010 debate in Congress, the Senate put into the ObamaCare bill an authorization for the federal government to underwrite nonprofit consumer-owned health insurance cooperatives. Soon after the bill's enactment the Federal Center for Medicare ...

China ready to start deposit insurance system: cenbank report
BEIJING (Reuters) - Conditions are ripe for China to launch a long-awaited deposit insurance system after a consensus was reached within the government, according to the central bank's 2013 financial stability report, sources with knowledge of the ...

Hurricane Sandy-struck businesses sue insurance brokers over uncovered losses - Hunterdon County Democrat
The cases highlight some of the legal pressures facing insurance brokers after the storm. Attorneys for policyholders have said that New Jersey courts have found brokers to have a heightened duty to their clients, particularly if they have presented ...

LIST: The top 5 insurance companies in Mass.
The ranking, part of a two-part List that also included Massachusetts' largest insurance brokers, includes premiums written in dollars, in-state and globally; total assets and liabilities; and the name of the chief executive. More: The 5 largest ...

Should our college kid have life insurance?
Insurance makes sense only if her death would create financial woes -- say, if you had to pay debts incurred for her schooling. The sort-of-good news: Federal Stafford loans, the chief type of college debt, are forgiven when a student dies, explains ...

Rep. Mike Thompson wants crop insurance to require conservation
One of the big drawbacks of federally subsidized crop insurance — the new mode for subsidizing farmers — is that it has detached conservation compliance from crop subsidies. The older programs all required that in exchange for heaps of your hard ...

The 'Undead' and Other Life Insurance Fraud
There's the honest way of collecting life insurance money -- when a person dies and names you as the beneficiary -- and then there's the dishonest way -- when you deceive insurers, family members or business partners. That's life insurance fraud, a ...

Insurance commissioner Kreidler touts upcoming changes to health care
State Office of Insurance Commissioner Mike Kreidler delivered a mythbusting speech about the Affordable Care Act on Wednesday, telling a lunchtime audience that changes set to take place in health care in 2014 are much better than what the current ...

House ...amendment to block huge hikes in flood insurance premiums
WASHINGTON - The House Tuesday night approved an amendment that bars FEMA from using its budget to implement a 2012 law that ends subsidized flood insurance rates for policyholders who, through no fault of their own, are remapped into a "below ...