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Insurance News 01/2015



View from the trenches: Insurance broker assesses status of ACA and Nevada ...
View from the trenches: Insurance broker assesses status of ACA and Nevada ...

CoOportunity Health snagged by shifting insurance landscape
When Iowa's insurance commissioner announced last week it would take control of the management of the not-for-profit insurance company CoOportunity Health due to financial challenges, it was another step in a series of events that created a perfect ...

FEMA wastes millions on hurricane damage claims, lets insurance companies ...
FEMA wastes millions on hurricane damage claims, lets insurance companies ...

More insurance companies offering discounts for safe driving
PROVIDENCE, R.I. (WPRI) — A large number of car insurance companies are offering incentives for good driving, but privacy advocates believe it could cost you elsewhere. Many companies have programs now in which they send you a device to install in ...

Florida needs new approach on insurance
In late 2013, Gov. Rick Scott and members of the Florida Legislature got upset about rising homeowner insurance rates and urged action to protect consumers. Note that the state's political leaders didn't rise up against the cost of hurricane insurance ...

selectmen revisit decision on snowplowers' insurance
1, the town would adopt language in a management letter from a recent audit that required snowplowers to sign a contract and have insurance information on file with the town. The town must be named as “an additional insured” on the subcontractor's ...

Health Care Penalties In 2015: How To Avoid Obamacare Fee And Report ...
Health Care Penalties In 2015: How To Avoid Obamacare Fee And Report ...

Obamacare Penalty 2015: Health Insurance Fines to Increase Varying on ...
Obamacare Penalty 2015: Health Insurance Fines to Increase Varying on ...

3 On Your Side: 4 Million Sign Up For Health Insurance, Penalty Rise In 2015
PHILADELPHIA (CBS) — More than 4 million people have signed up so far for health insurance as part of open enrollment under the Affordable Care Act for 2015. According to a report released today about half of those enrolling are returning customers, ...

Insurance mixup fixed, says Memorial Sloan Kettering
"We encourage our patients who see something unexpected or puzzling from their insurance company to contact us in the billing department, and we'll help them unravel it. The phone number is 646-227-3228," says D'Agostino. "Our billing system is the ...

Inside the Insurance Industry's Secret Database About You
It's called the "CLUE" report, which stands for "Comprehensive Loss Underwriting Exchange," and essentially, it's a database keeping track of every insurance move you make. When you call your insurer to report damage to your home or auto, that goes ...

Insurance Competition Lacking In Miami-Dade, Monroe
MIAMI (CBSMiami/NSF) – A new report shows there is a lack of competition among insurers for certain types of residential policies Miami-Dade and Monroe counties. The report comes as the state looks to shrink Citizens Property Insurance Corp. The report ...

Insurance industry should stay steady in 2015
Financial strength of the insurance industry is important to both the overall economy and the individual policy holder. Most insurers are subject in varying degrees to the same influences, such as prevailing interest rates, values and returns on ...

Licenses for migrant drivers means more will be insured — in theory
As thousands of immigrants who are in the country illegally queued up Friday to apply for a California driver's license, supporters of the controversial new law that made the licenses possible predicted a flood of new motorists in the automobile ...

Homeowners see drop in hurricane insurance cost
Clearwater, Florida -- Residents are starting the new year with a small break on their homeowners insurance with the early termination of an emergency assessment. But, one Bay area man says it's still not enough. "There hasn't been one in this area in ...

Your insurance premiums may go down
After the 2005 hurricanes, the FHCF – a state program that reimburses insurance companies for a portion of their losses – issued bonds and then assessed insurance premiums. Because no hurricanes have appeared in 10 years, most assessments were ...

Long-term-care insurance helps relieve stress
Vetter is an insurance broker specializing in long-term-care insurance who also has a policy for her parents. Unlike traditional insurance, long-term-care insurance is designed to help families with the financial burdens of aging by providing funds on ...

Health insurance carriers keep an eye on Supreme Court
The U.S. Supreme Court will hear a case challenging the legality of those subsidies for customers purchasing health insurance through the federal marketplace. Those challenging the law claim the Affordable Care Act, colloquially known as Obamacare ...

Insurance pros unhappy about CoOportunity's 'rehab'
The complicated set of events that drove CoOportunity into Iowa insurance rehabilitation follows from the Affordable Care Act, federal loans to the company, enrollment that exceeded expectations, then higher claims and less federal financial support ...

Federal tax filers must show health insurance status for first time
Tax season is here, and the federal Affordable Care Act mandating minimum health insurance coverage nationwide brings with it what's labeled as the biggest group of changes to the U.S. tax code in 20 years. Massachusetts filers used to dealing with the ...

Barb Gabri of Lewiston: 'Rolling the dice' without insurance
Barb Gabri isn't a fan of the Affordable Care Act. At least she hasn't seen it help many people — particularly families that earn too much for government assistance but not enough to pay for their own health insurance. “My heart breaks right down the ...

How the Affordable Care Act changed your insurance
All new plans must cover certain preventive health services, such as mammograms and colonoscopies, without charging a deductible, co-pay or co-insurance. — Insurers must spend at least 80 cents out of every premium dollar on your benefits and ...

Personal finance Q&A: Eliminating private mortgage insurance
Dear Liz: I bought my first home about a year ago. Because I had very little money for the down payment, I have to pay private mortgage insurance, which is a whopping $385 each month. My burning question about this is: How can I get rid of it? There ...

OnStar Can Now Assess Your Driving For Cheaper Insurance Rates
Starting this summer, OnStar will become the electronic version of nervous parents in the back seat of a teenager's car, providing drivers with an opt-in program that will evaluate their driving over a 90-day period. Once complete, it will not only ...

No health insurance? Penalties to rise in 2015
It's the first year all taxpayers have to report to the Internal Revenue Service whether they had health insurance for the previous year, as required under President Barack Obama's law. Those who were uninsured face fines, unless they qualify for one ...

Groups battle over access to insurance fund records
The MCCA, created by the Legislature in 1978, controls a fund that contains more than $17 billion and is used to reimburse insurance companies for auto injury claims that exceed $530,000. The MCCA, whose board is dominated by insurance company ...

Secret Sandy engineering reports set to be released
Soon, thanks to the fallout from a shocking courtroom revelation, Sperber will learn if that initial engineering report was subverted to deflect the blame away from Sandy and toward a cause not covered by their insurance. "I've been beating this drum ...

Jobless insurance sticker shock looms
Sticker shock is one way to describe the reaction of Catherine Martin-McKenzie of Land of Enchantment Inc., a real-estate brokerage and property management firm in Albuquerque, to a 10-fold increase in the company's first-quarter unemployment insurance ...

Insurance Brokers Find Opportunity in ACA
Insurance brokers Aon and Marsh & McLennan play a vital role in helping clients assess, manage, and transfer risks. Typically acting as an intermediary, and increasingly as a partner in risk management, an insurance broker advises clients on designing, ...

Reshop Your Car Insurance in 2015
If you've changed insurers or even complained to your insurer about your rate in the past, companies (including your own) may charge you less than a nonshopper, says Robert Hunter, director of insurance for the Consumer Federation of America. The CFA ...

Brown & Brown acquires Texas insurance agency
Hall-Wright reported annual revenue of $1.6 million. The agency offers its insurance products in both Texas and Louisiana. As part of the transaction, the Hall-Wright team will join Brown & Brown subsidiary Texas Security General Agency's existing San ...

Is smartphone insurance necessary?
Of course you need health insurance, vehicle insurance and crop insurance, but do you need phone insurance? Phone insurance, or equipment protection, generally consists of a monthly fee of around $5 to $10 to cover the cost if your device is lost ...

House sets up vote on terrorism insurance
The House will likely vote as soon as Wednesday to reauthorize the federal terrorism insurance program. The program expired on Dec. 31 after lawmakers failed to reach a deal on keeping it in place. Republican leaders have put reauthorizing the ...

Insurance man retires, business under new management
Now, he's retired from his longtime career as an insurance broker and agent. Knisely also was once a major player in the local real estate market. "I always had my license to sell insurance but focused on the real estate side of the business because ...

Survey: Fewer Vermonters Lack Health Insurance
Peter Shumlin said Monday at a news conference to trumpet the results of the Vermont Household Health Insurance Survey. He attributed much of the reduction to provisions of the federal Affordable Care Act, which Vermont implemented using its online ...

Keystone Mutual Insurance Announces New Captive Agency Alliance
“A successful medical practice today has to have an insurance partner that they can trust and who understands the changeable environment for physicians,” says Dr. Robert McMahon, a medical doctor, attorney and former president of the St. Louis ...

Harvard professors are angry that their amazing health insurance is getting ...
Harvard professors are angry that their amazing health insurance is getting ...

CoOportunity Health snagged by shifting insurance landscape
DES MOINES | When Iowa's insurance commissioner announced last week it would take control of the management of the not-for-profit insurance company CoOportunity Health due to financial challenges, it was another step in a series of events that created ...

You'll pay more for homeowner's insurance this year. Here's why
That means the base rate offered by insurers will be capped at an 18 percent increase, according to Kerry Hall, a North Carolina Department of Insurance spokeswoman. Insurers will be free to offer discounts to homeowners in specific areas within the ...

GOP Congress' First Priority: Yanking Health Insurance From 1.5 Million Americans
One of the first things House Republicans plan to do after Congress reconvenes Tuesday is vote on a bill that would gut Obamacare—and could deprive up to 1.5 million Americans of their employer-sponsored health insurance. After the GOP-controlled ...

Aspen Insurance Transitions US Business Lines Processing to Accenture Duck ...
Aspen Insurance Transitions US Business Lines Processing to Accenture Duck ...

Is it cheaper to provide health insurance or pay the fines? Affordable Care ...
Is it cheaper to provide health insurance or pay the fines? Affordable Care ...

What to consider in deciding whether these types of insurance are needed
Some types of insurance are must-haves, not just to cover the expenses of unforeseen circumstances but also to comply with the law. Most states require motorists to have liability coverage, and Americans have been alerted the past two years via the ...

New regs for Wednesday: Chemical manufacturers, sunscreen, health insurance
Currently, federal employees who do not renew their plans within a certain period of time, lose their health insurance coverage. But under the proposed rules they would be automatically enrolled in the cheapest plan possible. The public has 60 days to ...

Harvard Professors Complain About Changes To Their Very Generous Health ...
Harvard Professors Complain About Changes To Their Very Generous Health ...

2015 F-150 insurance costs still unclear
When news broke that the 2015 truck would have an aluminum body, there was speculation that the cost of collision insurance would go up because repairs would be more costly and require special body tools. But the Dearborn automaker has subsidized ...

Form 1095-A for Health Insurance Marketplace now part of tax prep
Luis Garcia, spokesman for the IRS, said because a third party provides Form 1095-A, you'd need to go to the health insurance marketplace to get a copy if the form is lost or there are mistakes. The IRS is not going to be able to answer questions about ...

Appleton insurance firm under new ownership
Wendy Diedrich is the new owner of the company, which has provided families and small businesses with comprehensive insurance solutions for more than 40 years. The company's new name is Diedrich Family Insurance Agency, Inc. The company was ...

AirAsia Prepares Insurance Payments One Family at a Time
AirAsia has confirmed it is offering family members of passengers on Flight QZ8501 monetary compensation following the Dec. 28 crash and said it was conferring with families individually to show its “good intention.” The airline offered family members ...

Emanuel Medical Center, Chamber talk insurance options for small businesses
Finding the best insurance coverage is often confusing for employees and business owners alike, so in an effort to assuage concerns the Turlock Chamber of Commerce and Emanuel Medical Center partnered to host a breakfast for small business owners ...