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Insurance News 02/2014



Insurance updates in Raleigh, Washington hit home in Eastern NC
The U.S. Senate on Thursday approved the Homeowner Flood Insurance Affordability Act of 2014, legislation that would give homeowners in flood-prone areas a reprieve from steep premium increases soon to be phased in. If adopted, the legislation would ...

Insurance questions drive Seattle's rideshare debate
There are still gray areas clouding insurance coverage for ridesharing services like Lyft and Uber. But there's also interest on the part of insurers and the services in clearing up those issues. That became clear Thursday during a City Council ...

Senate votes to delay flood insurance hikes
WASHINGTON — Setting aside objections from the White House and fiscal watchdogs, a bipartisan Senate majority voted Thursday to delay rate increases in federal flood insurance for coastal property owners from Maine to California. The 67 to 32 vote ...

In rural Georgia, federal health insurance marketplace proves unaffordable to ...
In rural Georgia, federal health insurance marketplace proves unaffordable to ...

Money Matters: What you need to know about disability insurance
I have selected my health insurance; I chose a large deductible and low premium plan since I'm young and very healthy. I receive short-term disability and three times my income in life insurance at no cost. I don't have a spouse or children, so I don't ...

Health insurance and small businesses: Choices, savings for some but others ...
Health insurance and small businesses: Choices, savings for some but others ...

Health insurance and small businesses: Savings for some but for others only ...
Health insurance and small businesses: Savings for some but for others only ...

LePage admin touts Maine's low insurance rates
The Maine Bureau of Insurance is pointing to recently released reports from the National Association of Insurance Commissioners that show Maine's average premium is among the most affordable. The group ranks Maine as 3rd in national rankings of lowest ...

Older workers may still need life insurance
No matter the reason, experts say older workers should re-evaluate whether they have enough life insurance while they are employed and plug any gaps in their risk-management plan. "If seniors are planning to continue working because they need the ...

Watching gas prices? Insurance rates are even wilder
While most vehicle owners are used to seeing fluctuating gas prices—and trying to find ways to offset them—they may need to pay closer attention to ever-changing insurance prices. According to a report by insuranceQuotes.com, which compared monthly ...

Insurance department seeks authority to raise fees
The Kansas Insurance Department is asking the Legislature for the authority to raise fees on the insurance companies it regulates because repeated fee sweeps by lawmakers have left the department's regulatory fund depleted. Zachary Anshutz, assistant ...

Hold strong on flood insurance
Home buyers in designated flood-prone areas must buy this insurance to qualify for government-backed mortgages, and as of the end of fiscal 2012, the NFIP sponsored 5.5 million policies with a total insured value of $1.3 trillion. Alas, storms such as ...

House should delay flood insurance rate hikes as Senate did: Editorial
The U.S. Senate's overwhelming vote Thursday to suspend exorbitant flood insurance rate increases sent an encouraging message to millions of Americans who depend on the federal program. The 67-32 bipartisan vote in favor of a four-year delay also ...

Study: Patients need training on new health insurance
WASHINGTON — New Medicaid patients in Oregon failed to use their benefits effectively because they did not understand how to use insurance or health care, according to a study released Monday in the journal Health Affairs. As a result, researchers ...

RPT-Fitch: Ukrainian non-life insurance recovery in progress
Fitch Ratings says in a new comment that profitability in the Ukrainian non-life insurance sector has recovered strongly in recent years and has considerable potential for long-term growth. However, standards of regulation and financial reporting ...

The 10 Most Expensive Insurance Markets In The U.S.
These are the 10 regions of the country with the highest premiums for people buying insurance on the health law's new marketplaces. The ranking is based on the lowest price “silver” plan, which is the mid-level plan that the majority of consumers are ...

Surprise! Your long-term care insurance won't cover it
There are over 2.6 million group long-term care, or LTC, certificate holders in the U.S. Many of those insured believe that they have comprehensive LTC coverage that covers many types of long-term health care costs. There are significant limitations ...

Detroit has highest car insurance rates in the country, Grand Rapids is third ...
Detroit has highest car insurance rates in the country, Grand Rapids is third ...

Reversing the damage of tickets on auto insurance
Other tickets, like running a red light or speeding, won't hit your insurance as hard and will most likely depend on your previous driving record. "But if you've had maybe a ticket or two in the past, and maybe an accident, that's when we see that ...

10 Places Where Health Insurance Costs The Most
If you are buying health coverage in the Colorado ski resort towns, the Connecticut suburbs of New York City or a bunch of otherwise low-cost rural regions of Georgia, Mississippi and Nevada, you have the misfortune of living in the most expensive ...

Florida to launch discount health insurance exchange
TALLAHASSEE -- Since 2008, Florida has been promising its residents a state-run health insurance exchange. Republican lawmakers continued to champion the much-delayed program even as they opposed Obamacare and refused to expand Medicaid to ...

Cory Booker dedicates first Senate floor speech to unemployment
J.) urged his colleagues on Capitol Hill to pass an extension of unemployment insurance or risk forcing millions of Americans out of their homes, onto the public dole or into catastrophic debt. "All of us, despite our political differences, share a ...

Health insurance navigator program at UGA made progress after bumpy start
A University of Georgia program to educate people about the nation's new health care law got off to a rocky start, like the Affordable Care Act itself. But as the grant-funded program enters its sixth month, the UGA Healthcare Navigators program is ...

MAP: The Republican Crusade to End Insurance Coverage of Abortion
Last week, the GOP-led House of Representatives passed the No Taxpayer Funding for Abortion Act, a bill that would radically limit Americans' ability to buy private-sector health insurance that covers abortion. With the Senate under Democratic control ...

Conn. Insurance Commissioner To Testify In DC
Thomas B. Leonardi was expected to appear Tuesday before the U.S. House Subcommittee on Housing and Insurance in Washington, D.C. He will discuss a recent report by the Federal Insurance Office about modernizing and improving the system of ...

7 ways to cut your home insurance bill
With real estate values recovering and even reaching new highs in some areas, now may be a good time for people to take a fresh look at their home insurance and the amount of dwelling coverage in their policy. When you do this, keep in mind that the ...

Family health: Know insurance benefits
A common question regarding insurance is, “How much will I owe?” There are literally thousands of different policies in existence, so the amounts will vary according to the terms of your policy. However there are concepts and terminology common to all ...

Blue Cross Blue Shield, Blue in the Face Over Health Insurance
Dear ABC News Fixer: I purchased insurance through my state health insurance marketplace with Blue Cross Blue Shield of Illinois. At first, I was going to apply $250 of my subsidy credit and have a premium of $345 – but I later called back to change it ...

Officials: 22 Charged in Fla. Insurance Fraud Ring
A major fraud ring that staged fires and floods at South Florida homes to collect millions of dollars in claims from insurance companies has been broken up with charges against 22 people, authorities said Tuesday. The alleged ringleader, Jorge Fausto ...

Canceled, out-of-state health insurance plans would be allowed under Senate bill
Not all Washington residents may have been able to keep their health insurance plans from 2013, but one state lawmaker wants to let people get their canceled plans back -- or at least, go shopping for insurance elsewhere. A bill in the state Senate ...

Insurance fraud operation nets 22 arrests
Twenty-two people from across Miami-Dade County were charged in a fraud scheme that bilked insurance companies out of $7.6 million by intentionally setting fires or causing floods in homes, Miami-Dade State Attorney Katherine Fernandez Rundle ...

Freeing Workers From the Insurance Trap
The report estimated that — thanks to an increase in insurance coverage under the act and the availability of subsidies to help pay the premiums — many workers who felt obliged to stay in a job that provided health benefits would now be able to leave ...

Sorrento remains without insurance for police
SORRENTO — Approaching the third month without liability insurance for the town's Police Department, Sorrento officials are no closer to finding an insurance provider and seem to be at a standstill on how to solve the problem. A motion by Councilman ...

Bill aims at insurance policies relating to gun owners
In Tallahassee, a proposal is being considered in the House, by the The House Insurance and Banking Subcommittee, that would prevent a property or auto insurer from refusing to issue or renew a policy based on a person's legal use, possession or ...

Texas to execute woman convicted of killing man for insurance money
Basso, with five others, later beat him and killed him for his money and to cash in on an insurance policy where she was named the beneficiary, according to court documents. The victim was beaten so severely with baseball bats, belts and steel-toed ...

The 10 most expensive areas to buy health insurance in the US
Kaiser Health News has published a list of the 10 areas where health insurance is most expensive in the U.S. now that Obamacare is in effect. Collecting data from the Kaiser Family Foundation, the government's HealthCare.gov website and state exchanges ...

California regulator warns about gaps in ride-sharing insurance
As part of the new rules, companies must carry $1 million worth of liability insurance when a privately owned car is being used to carry passengers for a fee. The liability coverage kicks in when damages exceed the limits of a driver's personal ...

5 things to know about umbrella insurance
"More than 80% of umbrella losses are auto-related," says Ed Charlebois of Travelers Insurance. Even if you're the safest driver, your teen probably isn't. Redoing your kitchen? Your general contractor may not adequately vet subcontractors for workers ...

Insurance executive Robert Dubofsky of Great Neck dies
Dubofsky was managing director of BWD Group LLC of Plainview, which says it is one of the nation's largest privately held brokerage firms and a worldwide leader in sports and entertainment insurance, serving commercial and personal customers. Company ...

UPDATE 3-Allstate eyes bigger share of insurance markets in 2014
Feb 5 (Reuters) - Allstate Corp aims to grow its share of the U.S. home and auto insurance markets without the need for "abnormally large" rate increases, its CEO said, after the company's profit more than doubled in the fourth quarter. Shares of ...

Insurance executive to help fix Connector site
An executive from the largest Massachusetts health insurer has been chosen to oversee fixes to the state's failed health insurance website, the Patrick administration is expected to announce soon, in a move that one health policy specialist said ...

Health insurance industry touts supplemental policies to cover medical costs
As out-of-pocket medical costs grow for many Americans, the insurance industry is offering a way to help and, at the same time, expand its business: by selling supplemental policies that may fill the gaps for consumers. Insurers are increasingly ...

Citi to pay $110 million in a lawsuit over force-placed insurance
(Reuters) - Citigroup Inc (C.N) has agreed to pay $110 million to thousands of homeowners who were forcibly charged expensive property insurance premiums, a court filing showed, as several U.S. banks and insurers were criticized by regulators over such ...

Texas executes woman convicted of killing man for insurance money
AUSTIN, Texas (Reuters) - Texas executed a woman on Wednesday convicted of leading a plot to kidnap, torture and then beat to death a mentally disabled man to rob him of his cash and collect insurance money. Suzanne Basso, 59, died at 6:26 p.m. CST ...

Why Your Insurance Company Will Pay You to Take Your Medicine
Imagine your insurance company paying you for healthier behavior, such as taking your vitamins or medications as directed, going for daily walks, or not eating that second dessert. That day may not be very far away. The healthcare industry is moving ...

San Diego Man Goes on Crusade Against Insurance Companies
Shea says the evidence in the case clearly showed that the other driver was 100 percent at fault and admitted liability in the case, but the insurance companies for that driver refused to pay what he says was a very reasonable settlement. That terse ...

Skyrocketing flood insurance rates have Congress' attention
"I would never have been able, in my way of thinking, to afford this if I would have known the flood insurance would be $2,500. It's really put me in a dilemma," Yancheski, 65, said of the premium spike for flood insurance on his Baltimore County home ...

Administration Said to Ponder Insurance Extension
The Obama administration is considering an extension of the president's decision to let people keep their individual insurance policies even if they are not compliant with the health care overhaul, industry and government officials said Thursday ...

Ask Matt: Using insurance policies as investments
USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at [email protected] Q: Can life insurance policies be a good way to invest? A: Insurance is typically used to protect ...

Private flood insurance plan being reviewed in Tallahassee
As thousands of coastal residents worry about higher flood-insurance rates, an effort to attract more private insurers to offer flood coverage in Florida may go back to the start of the Senate review process. After concerns were expressed by several ...