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Insurance News 10/2014



Freelancers Union ends low-cost insurance due to ObamaCare
The Freelancers Union is ending its popular program that provides health insurance to thousands of its members — because the increase in rates resulting from ObamaCare is too expensive, according to a report. The union for independent workers, which ...

Obamacare quirk makes childless people buy pediatric dental insurance
The law's confusing treatment of pediatric dental benefits forces childless people to buy separate pediatric dental insurance policies they will never use. And states' varying interpretations of the law require parents to take extra care to make sure ...

Flood insurance refunds checks begin to go out Wednesday in Louisiana
The National Flood Insurance Program has made many changes while advancing the substitute amendment to the Homeowner Flood Insurance Affordability Act of 2014. FEMA officials say these reforms slow some flood insurance rate increases and offers ...

HCC Insurance Eyes Crop Insurance with Acquisition of Producers Ag
HCC Insurance Holdings Inc. said has agreed to acquire Producers Ag Insurance Group Inc. (ProAg) from CUNA Mutual Group in an all-cash purchase of ProAg's capital stock for $110 million. The transaction, which is subject to regulatory approvals, ...

Obamacare's Illegal Insurance Company Bailout
Americans hate insurance companies. They also hate bailouts. And they especially hate it when insurance companies get bailouts. But that is exactly what is going to happen next summer unless Republicans in Congress stand up and fight against President ...

Judge: No Obamacare subsidies through federal insurance marketplace
The Affordable Care Act suffered a fresh legal setback on Wednesday, when a federal judge in Oklahoma ruled that the federal government could not provide insurance subsidies to customers in states that declined to set up their own marketplaces under ...

Safe Drivers From Bad Neighborhoods Pay More for Insurance
A new report by the Consumer Federation of America found that safe drivers in more than one-third of the country's lowest-income ZIP codes—places where a majority of drivers earn less than $21,000 a year—can't obtain state-mandated insurance for less ...

Missouri consumer group sues feds over health insurance rate information
A Missouri consumer advocacy group is suing the federal government in an attempt to force the public disclosure of health insurance rate information ahead of the upcoming enrollment period. The Consumers Council of Missouri said it filed the lawsuit ...

​ CUNA Mutual selling crop insurance unit for $110M
CUNA assumed full ownership of the business known as ProAg in 2009 when the crop insurance marketplace provided for diversification during a tough time for the financial service industry. CUNA Mutual said the sale of the unit allows it to focus on ...

Texas governor candidates target homeowner insurance companies over high ...
Texas governor candidates target homeowner insurance companies over high ...

Sandy Improvement District providing sewer insurance
Water is processed Monday, May 5, 2014 at the Central Davis Sewer District in Kaysville. The Sandy Suburban Improvement District has launched a new insurance program to help homeowners with the cost of repairing a leaky or damaged lateral sewer line ...

Expect higher health insurance premiums, speaker says
Stevens, who has been in the health insurance business for about 30 years, spoke about the rising cost of health insurance Wednesday at a Leadership Columbus event at the Columbus Area Chamber of Commerce. He was speaking as part of the nonprofit ...

Another Obamacare Success Story: NY Freelancers Union Drops Insurance ...
Another Obamacare Success Story: NY Freelancers Union Drops Insurance ...

New car technology may not lower insurance rates
(AP) — More cars and trucks are being equipped with cameras, radar, automatic braking and other safety technology that help avoid accidents, but drivers may not see their insurance bills go down anytime soon, experts in the auto and insurance ...

Kuykendall Gardner Risk & Insurance acquired by Hub International
Global insurance brokerage Hub International Ltd. announced Thursday it has acquired the shares of Kuykendall Gardner Risk & Insurance, a Central Florida-based insurance brokerage. The terms of the acquisition were not disclosed. Winter Park-based ...

Cop charged as crooked insurance schemer
A luxury car-loving East Harlem cop was in handcuffs Thursday, charged in an elaborate sequence of auto insurance frauds — for repeatedly faking claims of damage or theft as he switched rides over the course of two years. Disgraced Officer Jose Urena ...

CUNA Mutual Group to sell off crop insurance side business for $110M
Madison-based CUNA Mutual Group has made a deal to sell a crop insurance side business to HCC Insurance Holdings, Inc., a specialty insurer headquartered in Texas, for an estimated $110 million in cash, as the company increases its focus on its core ...

Health insurance offers few assurances on bills
If we buy too little insurance, or can only afford the cheapest plan, we're set up for trouble. As individuals or as employers, we don't like paying premiums and we're sick of seeing them rising every year. That's why insurance companies generate ...

NYPD Officer Accused Of Staging Accident, Filing Multiple False Insurance Claims
NEW YORK (CBSNewYork) — An NYPD officer appeared before a judge Thursday on fraud charges, with investigators alleging that he repeatedly filed false insurance claims and even staged an accident. As CBS 2's Tony Aiello reported, Jose Urena sat with ...

Insurance software company expands in downtown Colorado Springs
Colorado Springs-based Insurance Technologies is expanding its downtown office in response to customer demand. The company, which creates and provides software for insurance and financial service firms, announced this week that it has experienced a ...

Bedbugs, Lava And Bowling Balls: Inside My Homeowners Insurance Policy
My homeowners insurance policy reads as though somebody took all of the bad things that can happen in the world and divided them into two buckets: stuff that is covered and stuff that is not covered. I'm covered for damage from fire, lightning and ...

Confie Seguros buys another WNY insurance co.
AA Insurance Services, a 19-year-old company based in Lockport, is among the latest bunch of insurance brokerages scooped up by the California-based industry consolidator, according to a release. AA Insurance offers automobile and homeowners ...

Lawsuit Filed Over HHS' Failure To Publicize Insurance Rate Increases
On Tuesday, a former HHS official filed a lawsuit in federal court alleging that HHS has not publicized health insurance rate increase requests as required under the Affordable Care Act, the Washington Post's "Wonkblog" reports (Millman, "Wonkblog," ...

Allstate Agrees To Record-Setting Settlement In Insurance Bad-Faith Case
PHILADELPHIA (CBS) – A landmark settlement was reached in Philadelphia Monday in a bad-faith case involving a major insurance company that refused payment to a young man who was badly injured in a 2009 car accident. The multi-million dollar payout ...

Insurance fight over cost of 37-acre sinkhole in Bayou Corne
The claims are reasonable, Texas Brine said in a letter released Thursday, a day after it was sent to Insurance Commissioner Jim Donelon. It also alleges that Liberty breached confidentiality by basing its allegations on privileged material provided by ...

How iPhone apps could impact your insurance
NEW YORK (CNNMoney) — The life insurance industry may have a new tool to help determine rates for customers: the iPhone. As part of Apple's new mobile operating system, developers can build apps that measure things like heart rate, sleep, weight and ...

The best insurance for your iPhone 6
The expense from that can add up: damaged iPhones have cost Americans $10.7 billion since 2007, according to SquareTrade, a provider of insurance for personal tech. In the last two years alone, consumers have spent $4.8 billion on iPhone repairs and ...

Following evangelicals, traditional Catholics create a health insurance ...
Following evangelicals, traditional Catholics create a health insurance ...

Estify Raises $1.5 Million To Roll Out Insurance Software For Auto Repair
After spending two years developing a product to automate the integration of car insurance damage estimate data for repairs between insurance companies and body shops, Estify has raised $1.5 million to bring its technology to market. There's a rift ...

Insurance fight over cost of 37-acre sinkhole
The claims are reasonable, Texas Brine said in a letter released Thursday, a day after it was sent to Insurance Commissioner Jim Donelon. It also alleges that Liberty breached confidentiality by basing its allegations on privileged material provided by ...

2014 crop insurance payments likely in Minnesota
With Federal Crop Insurance, every year is different, and with the multiple options available to producers, there are many variable results from crop insurance coverage at harvest time. 2014 will be no different, with some producers choosing Yield ...

Insurance officials release proposed marketplace rates for 2015
LITTLE ROCK — Insurance plans offered through the Health Insurance Marketplace for 2015 are expected to carry premiums about 2 percent lower, on average, than 2014 rates, the state Insurance Department said Friday. The Insurance Department first said ...

Car Insurance Not Affordable for Low-Income Drivers, Study Finds
Car insurance is hard to afford, especially for low-income drivers, the Consumer Federation of America says. The five biggest auto insurance companies – State Farm, Allstate, Farmers, Progressive and Geico – don't offer basic policies for less than ...

High fines for driving without insurance angers some residents
A new Louisiana law that recently took effect was originally meant to deter people from driving without car insurance, but now it is being called unfair by some residents. In July, Slidell resident Chelle Ducree got pulled over for having an expired ...

Psilos Group Aims For 'Consumer-Centric' Health Insurance Technology
Health-care investor Psilos Group has been closely monitoring the health-insurance business for the past 16 years, and he says the industry is moving toward a new paradigm. The passage of health-care reform, which brought millions of new consumers into ...

Proposition 45 seeks health insurance rate review
SACRAMENTO, Calif. Proposition 45 offers a simple choice for voters: Do they want the state insurance commissioner to regulate health care rates for small businesses and individual health plans? The campaign fight over whether that would be beneficial ...

Patterson: An insurance guide for small business owners
Business owners have various types of insurance to consider. With so much at stake, it makes sense to implement a comprehensive risk management program. In insurance terms, risk is the chance that you will lose money because of things you or your ...

Retiree health care: Is long-term care insurance an answer?
“For baby boomers, long-term care insurance is a must,” says Manhattan attorney Ann-Margaret Carrozza. “We can no longer rely upon Medicaid to cover custodial type care. We see over the course of the past few years that eligibility for Medicaid has ...

Health Insurance May Get Rate Review
Health insurance has faced some major changes over the last two years. The most major of which was the change in law, known as Obamacare, which requires that everyone carry major medical insurance, whether through work or individually. Though many ...

Insurance brokers can help find right plan
A year ago, health insurance brokers and agents were looking like an endangered species. Not only had the law created and was underwriting personal assistors, navigators, and certified application counselors, technology was going to make it easy for ...

State hiring consultant to study self-insurance, other benefit reforms
The state Department of Employee Trust Funds plans to hire an Atlanta-based consultant to study possible reforms to the $1.5 billion state worker benefits program, including replacing a competitive HMO model with self-insurance. ETF intends to award ...

How much life insurance do you really need?
Life insurance is rarely a topic that consumers like to think about, talk about—or even do anything about for that matter. Recent statistics show ownership of life insurance policies is at the lowest level in decades: One in four consumers have no ...

Cyber liability insurance evolving with data breaches
Oct. 04 -- YOUNGSTOWN -- JPMorgan Chase's data breach that could affect 76 million households continues to raise awareness about insurance. "The risk is growing," said Stephenie Marconi , the operations manager at James and Sons . The insurance ...

Bruchet brings growth to GHB Insurance
GHB sells several kinds of insurance as an independent insurance brokerage. Coverage includes auto, home, personal and business insurance. But the company specializes in group and individual medical insurance, which accounts for 80 percent of GHB's ...

Blizzard look-back: After blizzard, insurance battle begins
The Eiesland family of Rapid City has learned a lot about insurance since last October's blizzard. “You get zero for trees,” Elizabeth Eiesland said. “The only time they pay for a tree is when it hits the house.” That happened last October. A number of ...

Insurance commissioner race pits two starkly different candidates
SACRAMENTO — Few jobs at the state Capitol have more effect on citizen pocketbook issues than California's elected insurance commissioner. The commissioner oversees a $123-billion-a-year industry that includes automobile, homeowner and dozens of ...

Wal-Mart adds in-store program to help customers compare insurance offerings
Wal-Mart announced Monday that it will dive deeper into the health-care market, unveiling an initiative to allow customers to compare and enroll in health insurance plans in thousands of its stores. Wal-Mart is teaming with DirectHealth.com, an online ...

Insurance helps South Dakota event organizers
ABERDEEN, S.D. (AP) - Event organizers often do more than hold their breath and hope for success. Sometimes, they hedge their bets when they plan an entertainment venture. Insurance seems like such a dull subject that it would have no place in the ...

Supplemental health insurance: Do math carefully to gauge its worth
With four children, Barbara Ellis and her husband have their hands full and their wallets less so, but about eight years ago, they decided to spend $800 a year on supplemental health insurance. The family already was covered by a primary health care ...

A Review of Insurance Broker Duties Under California Law
Recently the California Court of Appeals provided an excellent summary of the duties of insurance agents and brokers under California law. See Mark Tanner Const., Inc. v. HUB Int'l. Ins. Services, Inc., 224 Cal.App.4th, 574, 169 Cal.Rptr.3d 39 (3rd ...