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Insurance News 03/2015



Auto Insurance Quotes Help Clients Compare Online Policies!
Autoinsurancequotesave.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different ...

Know when crop insurance pays
Jordan Shockman, who farms near LaMoure, ND, created a spreadsheet to calculate expected profit at various price and yield scenarios. Shockman figures both income from crop sales and income from Revenue Protection crop insurance, when applicable, ...

Health insurance uncertainty ahead for those with ACA plans
The U.S. Supreme Court will hear oral arguments Wednesday in a case questioning whether tax credits that reduce premiums for health insurance are available on both federal- and state-run exchanges. If the Supreme Court rules that credits are available ...

Max Scherzer reveals details of injury insurance policy
We first learned of Scherzer's insurance plan last June, though at that time no details were provided. However, on Saturday, Scherzer finally shed some light on the security the policy gave him before he signed a monstrous seven-year, $210 million deal ...

New rating should lower insurance rates in Boardman, officials say
The township has improved a rating of its fire protection services that affects insurance rates for homeowners and businesses. After an evaluation by the Insurance Services Office last month, the township now has a protection classification of four ...

Gwinnett couple says nurse practitioner swindled insurance company for $200K
According to a federal indictment, Patterson billed about $2.2 million to health insurance companies for various allergy tests and treatment that she never performed. Agents said she received about $1 million. She is accused of fraudulently billing ...

Preparing for the next national crisis — by digging through insurance claims
As a lead researcher with the firm's national security and emergency preparedness practice, the new hire is to delve into insurance-claims data to help federal agencies learn more about the nation's health-care system. Because Lewin is owned by ...

Berkshire insurance 'superstar' could fill Buffett's shoes
In Berkshire's 2014 shareholder letter posted online on Saturday, Munger said Jain's reinsurance operation combines capacity, speed, decisiveness and, most important, “brains in a manner unique in the insurance business.” Munger stressed Jain “never ...

Health insurance tax credit trimming refunds
The tax preparation giant said 52 percent of consumers who bought health insurance through a federally or state-operated insurance exchange are having to repay an average $530 of the premium tax credit they received from the government to help pay ...

Insurance broker to run for state representative
Comeaux is a risk management consultant and senior vice president for Regions Insurance and has been in the commercial insurance business for the last 14 years, his biography says. He said he has worked with school boards, state and parish ...

State-run flood insurance proposed
Courtesy of Phil Goldfeder State Assemblyman Phil Goldfeder wants to create a state-run insurance program for homeowners in flood-prone areas. The state should create its own insurance for New Yorkers living in flood-prone areas, an assemblyman said ...

Chinese Investors End Bid for New China Life Insurance Stake
HONG KONG—A consortium of Chinese investors including Yunfeng Capital ended talks to acquire a $5.7 billion stake in New China Life Insurance Co. from China's sovereign-wealth fund due to difficulty in agreeing on a price and other terms after a sharp ...

'FTR' Producer's Notebook: How changing the way you use insurance could ...
'FTR' Producer's Notebook: How changing the way you use insurance could ...

FEMA Exec Says He Has Seen Evidence Of Insurance Fraud After Sandy
NEW YORK (CBSNewYork) – The executive in charge of the Federal Emergency Management Agency's insurance program has admitted that homeowners may have been cheated out of millions in insurance money. Brad Kieserman, FEMA Deputy Associate ...

Health Insurance and Your Taxes: What to Know
According to tax preparation giant TurboTax, about half of the 40 million Americans who went without insurance in 2014 will qualify for an exemption from the penalty. Whether they claim that exemption, however, is another story. Here's what to know ...

Insurance case to address mortgage clauses
Interests representing the insurance and banking industries are preparing to make arguments to the Minnesota Supreme court in a case which could have an important effect on the security of property used to collateralize commercial real estate mortgages ...

If you don't have health insurance, you may have to pay a penalty
A “teachable moment” is one way to describe the consternation that people may feel when they file their taxes this spring and realize they may owe a penalty for not having health insurance. According to a new survey, the number of people who may need ...

EXCLUSIVE: Leader of one of Cincinnati's largest insurance firms retiring
The company talked to several candidates before settling on Todd Belden, former president of the Cincinnati office of Hylant Group, another of Cincinnati's largest insurance agencies. Belden joined Wells Fargo on Feb. 20 to take the role once Schaefer ...

Credit score dropped? Your insurance rates may rise
If you think your rates have gone up because of your credit, contact your agent or insurance company directly, if you don't have a local agent. Then explain the mitigating factors, such as the fact you took out a home improvement loan, or were hit with ...

More than 100000 in SC could lose health insurance if Supreme Court rules ...
More than 100000 in SC could lose health insurance if Supreme Court rules ...

$6.2 Million in Attorney Fees, Costs Awarded in Hurricane Katrina Insurance ...
$6.2 Million in Attorney Fees, Costs Awarded in Hurricane Katrina Insurance ...

New Rule Would Encourage Crop Insurance for Specialty, Fruit, Vegetable ...
New Rule Would Encourage Crop Insurance for Specialty, Fruit, Vegetable ...

One-Quarter of British SMEs Fail to Read Their Full Insurance Policy: Research
Research conducted for the British Insurance Brokers' Association (BIBA) found that leaders of British small and medium-sized enterprises (SMEs) do not always read their insurance documents, with over one quarter (29 percent) admitting that they never ...

Courting Disaster: Going Without Health Insurance Could 'Bankrupt Me ...
Courting Disaster: Going Without Health Insurance Could 'Bankrupt Me ...

Insurance Journal, Channel Harvest Launch Survey on Agent-Carrier ...
Insurance Journal, Channel Harvest Launch Survey on Agent-Carrier ...

Avoiding travel insurance gotchas
If you're planning a big summer trip, chances are you're at least considering travel insurance. Travel insurance can either be a great idea -- or a waste of money if you encounter a gotcha or two. Fortunately, you can avoid most gotchas if you buy and ...

Georgia's State Bank & Trust Acquires Boyett Agency, Creates Insurance Division
State Bank and Trust Co., a wholly-owned subsidiary of State Bank Financial Corp., has launched an insurance division to offer State Bank customers a range of personal and commercial insurance products. State Bank enters the insurance business through ...

Powerlytics Delivers Highest Quality Data to Insurance Industry
DOYLESTOWN, Pa. --(BUSINESS WIRE)-- Insurance companies can now greatly enrich their datasets to discover previously unseen relationships and perform detailed analysis that can improve their decision making and marketing processes. Following a ...

Share “A look at your federal tax subsidy for...”
With the U.S. Supreme Court set to hear arguments on Wednesday in the case involving federal subsidies for health insurance, it might be a good time to look at the subsidies most people get for health insurance. Many people probably aren't aware that ...

House votes to require greater insurance for Uber drivers
Uber and other ride-sharing services would be required to maintain $1 million insurance coverage for all drivers from the moment the driver accepts a ride request to the time the ride ends under legislation adopted in the state House on Tuesday. House ...

Brain tumor patients fare better with private insurance, new study finds
Brain tumor patients who are uninsured or use Medicaid stay hospitalized longer and develop more medical complications than those with private insurance, University of Florida Health researchers have found. The uninsured and Medicaid patients were also ...

The 4 Words That Could Cause 8 Million to Lose Their Insurance
Nearly eight million Americans could lose their health insurance depending on how the Supreme Court interprets four words in the Affordable Care Act. At the nation's highest court on Wednesday, justices will hear arguments in the case of King v ...

Officials taking proactive step to protect Oklahomans who buy earthquake ...
Officials taking proactive step to protect Oklahomans who buy earthquake ...

The Driverless Car, Officially, Is a Risk
Self-driving cars have crossed an important milestone on the road to reality: The securities filing. Three insurance suppliers and an auto parts maker have warned in their most recent annual reports that driverless cars and the technology behind them ...

Henniker in insurance limbo ahead of town meeting
Blomback said the $1.2 million figure represents an unlikely worst-case scenario in which insurance covers nothing. The town will have to cover the difference. "We're going to try our hardest to keep that amount down to a relative bare minimum that we ...

Crop Insurance Guarantees to Drop: Analysts
Crop insurance price guarantees for U.S. corn, soybeans and spring wheat in 2015 will fall 10 percent or more based on futures settlement prices for February, grain analysts said on Friday. The U.S. Department of Agriculture's (USDA) Risk Management ...

Why are my health insurance premiums going up and up?
Medicare rules and private insurance plans can affect people differently depending on where they live. To make sure the answers here are as accurate as possible, Phil is working with the State Health Insurance Assistance Program (SHIP). It is funded by ...

Opposition support bolsters prospects for insurance reforms
Modi needs both houses of parliament to pass the bill in the current session which ends in early May to prevent an executive order he issued in December to implement the insurance measure from lapsing. A political row over religious conversions ...

Five Ohioans accused of fabricating car wrecks to collect insurance money
The five Cincinnati-area residents were investigated by the Ohio Department of Insurance after they allegedly filed "a significant number of false insurance claims" last year that totaled $85,000. The vehicle wrecks they claimed to be involved in never ...

Mapped: The 7.6 million people whose health insurance goes on trial today
The US government, along with hospitals and insurance providers, say that is too narrow a reading of the law, which is designed to function only when almost all Americans, including those who who can't afford it, have access to insurance. (For all the ...

SCOTUS Obamacare Case May Make Insurance Pricier For Millions
Not only could millions of people lose their federally funded health insurance subsidies if the Supreme Court rules that they are illegal, but an entire population of Americans who are not currently benefitting from the Obamacare subsidy program could ...

Obamacare in context for the Supreme Court: Affordable insurance for 75000 ...
Obamacare in context for the Supreme Court: Affordable insurance for 75000 ...

Appeals Court: Insurance Doesn't Have To Pay For 2008 Burrito Recall
You might remember the Foster Farms Salmonella outbreak last year, which made hundreds of people sick. The company's insurer, Lloyd's of London refused to pay for their losses from the outbreak and following recall because the company waited a very ...

How Will Insurance Companies Handle Driverless Cars?
So you have a shift from personal liability insurance to product liability insurance,” Mui told KCBS. “There's no reason why insurance companies can't prepare for that. The longer term problem is when you have no accidents, you don't need accident ...

Insurance commission on earthquake insurance: Know what you're buying
Okla. — A warning to Oklahoma residents from the state's insurance commissioner: Make sure you know what you are getting before you buy earthquake insurance. Bill Medlin, owner of Rooster's Cafe in Jones, doesn't buy earthquake insurance, even though ...

Couple Sues Insurance Company over Hail Storm Claim
At the time, Amaro reached out to his insurance provider, National Lloyds Company, requesting coverage for the repairs. He asked for $17,000. Instead, he was sent two checks totaling a little over $3,100. It was not enough, so he sued. "I got a quote ...

Tufts, hospitals go into insurance
CONCORD — The Tufts Health Plan, in partnership with five New Hampshire hospitals, is launching a new health insurance company in the state, with plans to build the broadest possible provider network and eventually offer coverage on the Obamacare ...

Ga. eyes insurance overhaul
ATLANTA -- Georgia lawmakers are considering insurance bills that would create major changes in health plan networks in the state. The Senate Insurance and Labor Committee first heard testimony on Senate Bill 143, which would require the state ...

Man accused of buying auto insurance from scene of car wreck
ALTOONA, Pa. (AP) — Authorities say a Pennsylvania man called an insurance company from a crash scene to buy auto coverage and later claimed his wreck happened after he got the policy. The Altoona Mirror (http://bit.ly/1GYSn18 ) reports that the ...

Why Insurance Companies Are So Worried About Driverless Cars
Mercury General Corp. , an auto insurer issuing most of its coverage in California, said in its annual report that “the advent of driverless cars and usage-based insurance could materially alter the way that automobile insurance is marketed, priced ...