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Insurance News 07/2013



Denver Health's losses are buoyed by its own insurance profits
... far this year and concerns that other hospitals are not caring for their share of the poorest patients. But a separate insurance plan that the hospital authority owns generated $12.1 million in profits for 2012 and distributed $4 million of that ...

Flood insurance rates will soar for many
In the aftermath of Hurricane Katrina and several other major storms, the National Flood Insurance Program (www.floodsmart.gov) ran up a mounting deficit. When Congress reauthorized the program a provision in the Biggert-Waters Flood Insurance Reform ...

Egypt debt insurance costs hit record high after anti-Mursi protests
LONDON (Reuters) - The cost of insuring Egypt's debt against default rose sharply on Monday after millions of Egyptians rallied against President Mohamed Mursi. Egypt's five-year credit default swaps rose 34 basis points to record highs of 900 bps, ...

RV Insurance Covers Your Home on the Road
If the open road is calling you and a recreational vehicle, or RV, is the way you want to go, it may be smart to hitch on some RV insurance. While some owners opt to cover their RV with an endorsement on their auto insurance policy, insurance companies ...

San Diego Gearing Up for Health Insurance Exchange Enrollment
The Latino population is also comparatively young, and that's a good thing for insurance pools. Young, healthy consumers help offset insurance costs for individuals who require more frequent, costly trips to see a doctor. Nearly half are under the age ...

WSJ: Health Insurance Rates Could 'Double Or Even Triple' For Healthy ...
WSJ: Health Insurance Rates Could 'Double Or Even Triple' For Healthy ...

Libraries Enlisted to Publicize Health-Insurance Options
The federal government is enlisting the help of 17,000 public libraries across the U.S. to help provide information to their patrons about new health insurance options under the Affordable Care Act. Starting Oct. 1, people who lack health insurance or ...

Don't Blame Unemployment Insurance for Our Jobs Crisis
Indeed, a new paper by Rand Ghayad, a visiting scholar at the Boston Fed and a Ph.D. candidate at Northeastern University, shows that unemployment insurance hasn't otherwise made the unemployed less likely to take a job. If anything, it's made them ...

Erie Insurance to build training center, add offices (Updated: 1 p.m.)
Erie Insurance Group announced at a news conference July 1 at their Erie headquarters on French Street that they plan to launch a large-scale development project in downtown Erie that will lead to the construction of a new 52,000-square-foot training ...

Teen drivers add 90% to mom and dad's insurance in Ill., study finds
InsuranceQuotes.com hired Quadrant Information Services to study the effect of adding a driver age 16 to 19 to a couple's car insurance policy. Quadrant calculated rates using data from the biggest carriers in each state and considered the following ...

Bargain insurance policies may end up costing you
Related. View Larger · underinsured lawsuit photo. A former insurance attorney said he is seeing it more often: insurance companies coming after big money from accident victims who don't have big money to pay. Letter from insurance lawyer ...

Long-Term-Care Insurance Leaves Customers Groping
The Deanes say they got hit last year with rate increases on both of their long-term-care policies, insurance plans that pay for nursing homes or in-home care. Manulife Financial Corp.'s John Hancock unit told Mrs. Deane that the premium on her 10-year ...

Health Insurance Rates to Soar Under ObamaCare?
Those unfortunate folks could see their insurance rates double or even triple with more on this Doug Holtz -- President of American action forum -- welcome back to the show always good to see -- -- So how disconcerting is this that will get Obama care ...

Big Changes Ahead For Those Who Buy Their Own Insurance
Gail Harriman's health insurance costs rose four times in just over two years, from $550 a month to $1,171, an amount “more than my mortgage.” But when the self-employed San Francisco resident tried to switch insurers, she was rejected because of a ...

UnitedHealth to exit individual insurance market in California
The moves illustrate how different companies are responding to a major overhaul of the health insurance market for millions of consumers. Starting Jan. 1, the federal healthcare law forces insurers to accept all individual applicants regardless of ...

Polish bank PKO to sell stake in new insurance arm
The search for an insurance partner follows PKO's first ever takeover deal last month when the bank purchased Poland's tenth-largest lender Nordea Bank Polska NDAP.WA and its insurance business from Sweden's Nordea (NDA.ST) for 2.83 billion zlotys ...

9 Auto Insurance Discounts Not Miss
Prices for auto insurance can differ by hundreds of dollars, according to the New York-based trade group the Insurance Information Institute. Companies offer loads of opportunities for you to cut your premiums through discounts that can be based on a ...

Which Old Insurance Policies can be Tossed?
For individual life, health, disability and long-term care insurance and other policies that are continuous until they're canceled, you should keep the policy papers and any amendments until the coverage ends or is canceled. Since these policies often ...

Insurance adjuster catches 200-year-old rockfish off Alaska
Catch of the century? An insurance adjuster from Seattle was stunned to find a fish he caught in Alaska could be more than 200-years-old. Henry Liebman reeled in the beastly 39.08-pound rockfish June 21. RELATED: KAYAKER SURVIVES GREAT WHITE ...

FEMA posts revision to preliminary flood insurance map for Jefferson Parish
The latest revision to FEMA's preliminary flood insurance rate maps for Jefferson Parish has been posted online for public comment. Changes to the draft that was posted in November affect northeast Kenner and northwest Metairie and revise an error due ...

Lankford eyes unemployment insurance for rich
With tax reform negotiations set to begin in the Senate, Rep. James Lankford (R-Okla.) has his sights set on ending a long-criticized policy oversight: unemployment insurance eligibility for millionaires, a “common sense” policy issue that has had ...

Administration delays key ObamaCare insurance mandate
The Obama administration announced Tuesday that it is delaying a major provision in the health care overhaul, putting off until 2015 a requirement that many employers offer health insurance. The announcement was made late Tuesday by the Treasury ...

Flood insurance changes run into resistance
WASHINGTON (AP) — Just a year after Congress imposed significant changes in the government's oft-criticized flood insurance program, howls of protest from homeowners facing higher premiums have coastal lawmakers pressing for delays that would ...

UK watchdog fines mobile phone insurance broker $4.3 million
London (Reuters) - The UK's financial regulator has slapped a 2.8 million pound ($4.3 million) fine on the company which administers mobile phone insurance sold by Phones 4u for poor handling of complaints. The Financial Conduct Authority said in a ...

If You Like Your Insurance, You Can Keep It? Not If It's UnitedHealth in ...
If You Like Your Insurance, You Can Keep It? Not If It's UnitedHealth in ...

Delay For Insurance Mandate Pleases Businesses
It's a reference to the part of the law that requires employers with 50 or more workers to pay fines if they fail to provide adequate insurance and some of their workers end up claiming federally subsidized coverage in the health exchanges. The ...

Bill would require $25000 in car insurance liability coverage
Heather Anderson was 3 years old in 1989, the last time that Illinois set minimum mandatory insurance levels for motorists. Three weeks before her 27th birthday in February and less than two blocks from her home, the Oak Lawn resident experienced ...

Woman, 85, charged with insurance fraud in son's fatal DUI accident
An 85-year-old Chester County woman has been charged with insurance fraud after her son allegedly caused a fatal accident while driving her pickup truck, police said Wednesday. The mother, Louise Landis, registered and insured a full-size Dodge Ram in ...

Lawsuit accuses Dollar Thrifty of charging customers for extra insurance coverage
INDIANAPOLIS - When you rent a car, do you pay for the extra insurance coverage? Some say they weren't given a choice and were overcharged. Customers filed a lawsuit against Dollar Thrifty Automotive Group, claiming the rental company charged ...

Will Manny Ramirez be insurance for Rangers' Nelson Cruz and Lance Berkman?
A flyer doesn't get much more altitude than this: Manny Ramirez, at 41, is back in the U.S., back in professional ball, and part of the Texas Rangers organization. Ramirez – of 555 major-league home runs, of two drug suspensions, of semi-retirement, of ...

Health mandate reprieve probable
Massachusetts employers, which are required to pay a penalty if they fail to provide health insurance for their workers, are likely to get an 18-month reprieve from the mandate, a central piece of the state's first-in-the nation health care law. The ...

Egypt debt insurance costs fall sharply-Markit
Sponsored Links. Egypt debt insurance costs fall sharply-Markit. Tweet · Share this · Email · Print. Related News. Egypt army topples president, announces transition. Wed, Jul 3 2013. U.S. declines to criticize Egypt's military as Mursi ousted. Wed ...

Four Life Insurance Policies Designed to Waste Your Money
I love life insurance. Because my father bought a term life policy shortly before he was in a fatal airplane crash, my siblings and I were able to go to college and build lives for ourselves. And I love life insurance because of the protection it ...

Teen Drivers Nearly Doubles Car Insurance Premiums
Adding a teenage driver to the family car insurance policy can double annual premiums, according to a new study—a costly fact of life that reflects the higher risk for younger drivers. Studies show that drivers under the age of 20 are three times more ...

State insurance chief, health exchange differ on kids' dental care
Backed by children's health advocates, California Insurance Commissioner Dave Jones is challenging the state's health insurance exchange over the way it wants to provide children's dental benefits. At issue is whether pediatric dental care should be ...

National insurance plans slow to emerge under new health law
National health insurance plans aimed at giving consumers more choice might be unavailable in some states next year, leaving residents with fewer options and potentially higher premiums. Such “multi-state” plans were included in the federal health law ...

Umbrella Insurance Policies: Why You Might Want That Extra Protection
Car accident umbrella insurance Getty Images Dan Ramsey, an independent insurance agent with Brandt, Ramsey and Associates in Alexandria, Va., says the most memorable claim on an umbrella insurance policy he was involved in was made by a small ...

PSEG sues insurance companies over Sandy damage
In a lawsuit with big implications for state utility customers, Public Service Enterprise Group and three of its subsidiaries accused 10 insurance companies of shortchanging them $456 million for damage to their power grid. Insurers say they will cover ...

Obamacare's challenge: Persuading young and healthy to buy insurance
Persuading young, healthy adults such as Lopez to buy insurance under the Affordable Care Act is becoming a major concern for insurance companies as they scramble to comply with the law, which prohibits them from denying coverage because of ...

Employer Health Insurance Mandate Delayed Until 2015
The Obama administration will delay a crucial provision of its signature health care law, giving businesses an extra year to comply with a requirement that they provide their workers with insurance. The government will postpone enforcement of the so ...

Bayonne mayor: Hotline open for National Flood Insurance Program
"I urge Bayonne property owners with an interest in flood insurance to call the helpline,” said Mayor Mark Smith. “Regular homeowners' insurance plans do not cover flood damage. One of the lessons of Hurricane Sandy is to be prepared by having the ...

Insurance company offers $2500 reward after 240 Vizio TV sets were stolen in ...
Insurance company offers $2500 reward after 240 Vizio TV sets were stolen in ...

Former insurance agent falsified applications, authorities say
Reached Friday, he said he submitted information showing the applicants worked for his former business, Guidance Insurance Company, to help them get policies – occasionally for lower rates. Many of the applicants were former policy holders who opened ...

Health insurance marketplaces will not be required to verify consumer claims
The Obama administration announced Friday that it would significantly scale back the health law's requirements that new insurance marketplaces verify consumers' income and health insurance status. Instead, the federal government will rely more heavily ...

Minnesota insurance pool for hard-to-cover patients set to close in 2015
Minnesota officials have proposed closing a health insurance safety net in 2015 for people with costly pre-existing health conditions because it shouldn't be needed under the federal overhaul of the nation's health care system. Some patients who use ...

Foxborough, Krafts still at odds on insurance
A pro soccer match planned for Saturday at Gillette Stadium will go forward without a license, the latest in a clash between The Kraft Group and the town of Foxborough. Lawyers were unable to iron out a liability insurance disagreement before a Friday ...

Largest Electric Utility In NJ Suing Insurance Companies In Wake Of Sandy ...
Largest Electric Utility In NJ Suing Insurance Companies In Wake Of Sandy ...

Insurance dispute won't stop soccer match at Gillette
Tonight's New England Revolution home soccer match will proceed, despite ongoing differences between Gillette Stadium owner the Kraft Group and the town of Foxboro over event liability insurance. Foxboro town counsel Dick Gelerman said the town ...

1 million North Carolinians will move to subsidized health insurance
North Carolinians who already get insurance through their employers may see changes in price and coverage options in the future. The new law includes subsidies, called premium tax credits, averaging $5,000 a year, for those who fall within certain ...

Tips for finding the life insurance policy that is right for you
Q: Our son and daughter-in-law recently had a baby, and we want to buy them life insurance as a new baby gift. We think they should buy term insurance, but they met with their agent from whom they buy their homeowners insurance, and he is suggesting ...