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Insurance News 05/2015



You're in your 60s and nearing retirement? Here's why you still need life ...
You're in your 60s and nearing retirement? Here's why you still need life ...

Riot-damaged businesses must pursue insurance claims 'really quickly,' experts ...
Riot-damaged businesses must pursue insurance claims 'really quickly,' experts ...

Health Insurance Deadline Passes for Most, but There Are Exceptions
It is possible that a few insurers may sell individual plans outside the exchange and without a special eligibility requirement, said Nate Purpura, a spokesman for web-based insurance broker eHealth. One example is Meritus, he said, a cooperative ...

Long-Term-Care Insurance: Is It Worth It?
People used to buy long-term-care insurance because they were scared. Now it is the policies themselves that are keeping buyers awake at night. The coverage—which pays for some or all of the costs of nursing homes, assisted-living facilities and home ...

In Your 30s with Kids? You Need Life Insurance
It's important to find a way to replace your income, which is exactly the purpose of carrying life insurance. Still, fewer than half of Americans actually have private life insurance coverage not from an employer, according to the insurance research ...

6 ways to fix flood insurance: Louisiana business leaders offer ideas to curb ...
6 ways to fix flood insurance: Louisiana business leaders offer ideas to curb ...

Erie Insurance buys land for $700000
Erie Insurance's purchase of the Konzel property is one of the single largest, in terms of acreage, that the company has made since early 2011. Erie Insurance has used the additional property to expand its footprint to the east of its headquarters on ...

Report criticizes Tennessee's insurance companies, claims women's health ...
Report criticizes Tennessee's insurance companies, claims women's health ...

Texas Hailstorm Claims
Multiple hailstorms in Texas over the second half of April are expected to result in at least 60,000 auto insurance claims, the Insurance Council of Texas reported. “Hail and windstorm claims are still coming in from almost every corner of the state ...

As CVS And Walgreen Play Doctor, Insurance Picks Up The Tab
Commercial coverage and reimbursement from the Medicare health insurance program for the elderly and Medicaid programs for low income Americans are becoming more common. It's good for patients looking for more choices and it's also fattening bottom ...

Ifo Ekpre-Olomu triggers draft insurance policy by going unpicked on first two ...
Ifo Ekpre-Olomu triggers draft insurance policy by going unpicked on first two ...

Wolf opens door to running insurance marketplace
The Democrat wrote to U.S. Health and Human Services Secretary Sylvia Burwell to declare his administration's intent to take over operation of the insurance marketplace in 2016. The federal government currently operates the marketplace, which is a ...

Ifo Ekpre-Olomu set to collect on $3 million insurance policy
241 overall) by the Cleveland Browns, but a $3 million insurance policy protecting him from slipping in the draft triggered when the last compensatory pick of the third round -- the Cincinnati Bengals choice of TCU linebacker Paul Dawson -- was made ...

Shopping for Insurance Online May be Boring, but it's Rewarding
Americans are always on a quest to save money and "shop to you drop" is an appropriate moniker for far too many of us. The average family spends $8-12K per year on insurance: but "honey I just got a smoking deal on car insurance" is typically not ...

Duggan faces uphill fight for cheaper car insurance
Detroit Mayor Mike Duggan has spent more than a year working with actuaries and experts from the state's insurance industry, trying to fulfill a major campaign promise: find a way to offer lower-priced auto insurance to residents who now pay the nation ...

Report: Philly sports chain offering Tebow, Bradford jersey insurance
The insurance costs $10. If you buy an NFL jersey and that player is then traded or gone from the team within 18 months, you bring back your receipt, and you'll still keep your jersey, but you can then buy another one for half price. "It's just a ...

Traffic Q&A: OK to use cellphone to show proof of insurance, registration
Washington is among a growing number of states that allow drivers to use cellphones and other portable electronic devices to establish proof of insurance and registration. Our law went into effect in July 2013, after passing unanimously in the Senate ...

Philadelphia store offering jersey insurance
OAKLAND, Calif. -- Golden State Warriors guard Stephen Curry has been voted the NBA's 2014-15 Most Valuable Player, according to league sources. Editor's Picks. Curry the best of the best. Check out ESPN Stats & Information's infographic summarizing ...

Guo's Fosun to Buy Ironshore in $1.84 Billion Insurance Deal
Fosun's unit Mettlesome Investment 2 will combine with Ironshore to boost its presence in the insurance business, the Shanghai-based company said in a statement to the Hong Kong stock exchange on Sunday. The company completed the acquisition of a 20 ...

Mounting insurance claims are remnants of a savage winter
Remember winter? Insurance companies would like to forget it, too, but the bills for all those ice dams, roof leaks, and waterlogged plaster continue to come in. Nationwide, claims for winter storm damage have totaled $2.3 billion in the first quarter ...

Midsize businesses face loss of lower-cost health insurance
Health insurance companies will descend on the state capital today for two days of lobbying—and might need both of them to explain the bill at the top of their agenda. The measure would allow businesses with 51 to 100 employees to continue purchasing ...

How to Cushion the Costs of Long-Term-Care Insurance
A lengthy stay in a nursing home could wipe out your savings—the national average for a shared room in a nursing home is $77,380 a year. Long-term-care insurance can protect you and your family, but the policies are increasingly expensive and not ...

Two face fraud charges stemming from insurance claims
Under Florida's No-Fault Law, insurance providers are required to pay personal injury protection benefits up to $10,000 per “accidental bodily injury” from a crash. The two men, along with other co-conspirators, have submitted fraudulent claims since ...

Download: Would you buy insurance with a sports jersey?
NEWTON, Pa. — A store in Pennsylvania has come up with a way to protect your investments — in sports jerseys. MyFoxPhilly reports that Schuylkill Valley Sports is offering insurance to customers when they buy jerseys, which can cost upward of $100 to ...

3 Best Life Insurance Companies to Add to Your Portfolio
A) holding its highly attended annual shareholders meeting this past weekend, we decided to check TheStreet Ratings to see what mid-cap insurance companies would be a good investments. After all, much of Berkshire's portfolio is concentrated in the ...

Why Warren Buffett Is Growing More Cautious About the Insurance Industry
From an insurance investor perspective, the biggest takeaway by Janney was that Buffett put an end to the popular parlor game of which large commercial underwriter that he would like to acquire by asserting they are unlikely to ever buy one and will ...

State insurance official to hold hearing on Highmark plan
Acting state Insurance Commissioner Teresa Miller is scheduled to hold the hearing on Highmark's request Monday in Harrisburg. The health insurer proposes to transfer $175 million in grants to its seven-hospital Allegheny Health Network to make capital ...

Colorado health insurance exchange fixing system without CTO on board
State health insurance exchange officials say the overhaul of their online enrollment system is proceeding on track, despite the recent departure of the chief technology officer. Former technology chief Proteus Duxbury departed recently for another job ...

Pasadena Police Officer Charged With Insurance Fraud After 'Ice Bucket ...
Pasadena Police Officer Charged With Insurance Fraud After 'Ice Bucket ...

The Hanover Offers Comprehensive, Customizable Insurance Solutions for ...
The Hanover Offers Comprehensive, Customizable Insurance Solutions for ...

Ex-state worker falsified insurance cards, stole food stamp benefits, cops say
TRENTON — A former clerk for the state Department of Human Services was indicted Monday for using her work computer to create fake insurance cards for her and three other people, and also stole more than $4,000 in food stamp and housing assistance, ...

'Midnight Rider' Producer Claims Insurance Company "Sabotaged" Film
According to the amended complaint, "In a classic 'Catch 22,' Film Allman could not proceed with the Film without obtaining its insurance proceeds, and it could not obtain its insurance proceeds until it continued filming. In sum, New York Marine ...

Wolf opens door to running insurance marketplace
The Democrat wrote to U.S. Health and Human Services Secretary Sylvia Burwell to declare his administration's intent to take over operation of the insurance marketplace in 2016. The federal government currently operates the marketplace, which is a ...

Flood Insurance Hikes Arriving At A Waterfront Near You
Those low rates, combined with big insurance payouts after hurricanes Andrew in 1992 and Katrina in 2005, left the flood insurance program in deep debt — now estimated in the wake of Irene and Sandy at about $24 billion. The 2012 law, known as ...

Insurance Types Make a Difference to Survival, For Brian Tumors at Least
We all know that having health insurance can make it easier for people to a see a doctor, and with access to care, people can stay healthier. But socioeconomic inequalities in the United States affect access to health care, and thus treatment and ...

RIMS Report: Uber Touts Ridesharing Insurance Solution
In the rapid rollout of mobile app-based ridesharing services that compete with traditional taxicabs and other urban transportation, taxi businesses have bristled over the higher insurance costs they must bear compared to what drivers for Uber, Lyft ...

Long-Term-Care Insurance: Readers Weigh In
The decision of whether to buy long-term-care insurance is a difficult one, as an article in Saturday's Weekend Investor section explored. These policies—which typically cover qualifying care in nursing homes, assisted-living facilities and at home ...

Survey: 96 percent of Mass. residents have health insurance
Years after passage of universal health care access and price control laws, about 3.7 percent of Massachusetts residents still lack insurance and health care costs continue to serve as an impediment to those needing treatment and care. The Center for ...

A new study finds many insurance plans are ignoring Obamacare requirements ...
A new study finds many insurance plans are ignoring Obamacare requirements ...

Tips for Helping Clients with Life Insurance Needs
Life insurance often receives a bad rap from consumers. Frankly, the way it's sometimes sold I can understand why. Nonetheless, life insurance is an important financial planning tool and financial advisors can play an important in helping clients ...

Vehicle insurance tax dropped from road maintenance bill
Raleigh, N.C. — A proposed vehicle insurance tax has been removed from legislation designed to reduce North Carolina's dependence on gas tax revenue to build and maintain highways. House Bill 927 called for a 6.5 percent tax on automobile insurance ...

Uber no longer operating in Kansas after state ups mandatory insurance rates
If you want to call a cab in Kansas, it will no longer be an Uber. The company ceased its operations there today after local legislators approved a new law that requires ride-sharing drivers to up their insurance coverage, and undergo a background ...

GEICO to Raise Auto Insurance Premiums
GEICO, which “everybody knows” saves drivers 15 percent on auto insurance, said it will raise its auto premiums after underwriting results declined in the first quarter. The giant direct writer said its underwriting profit for the first quarter was ...

Chicago Ridge votes to ditch future trustee insurance
Tonight, that board of trustees cried uncle and in front of an unfriendly crowd, voted to change the perk. The part-time elected officials only had to serve two terms and taxpayers would pay most of their insurance freight for the rest of their lives ...

7 Kinds of Insurance You May Have Overlooked
There are certain kinds of insurance we know we are supposed to buy (or at least consider) — like auto or health insurance. But when it comes to other insurance types like life insurance, there are a wide variety of options. You may not think ...

How Wearable Devices Could Disrupt the Insurance Industry
While there are many benefits to utilizing wearable technology in the insurance industry, along with the innovation comes risks, according to experts. Wearable technology refers to miniature electronic devices that are worn under or on top of clothing ...

Allegedly abusive mortgage insurance deals lead to class action settlement
Anyone who has taken out a home mortgage knows that one of the borrower's key responsibilities is to pay hazard insurance premiums on the property and not let the policy lapse. But are you aware that if you fail to keep the insurance current, or if the ...

IIABNY: Study Shows NY Insurance Agents Are Growing
With deep roots in their communities, New York independent insurance agencies are healthy and growing, Independent Insurance Agents & Brokers of New York Inc. (IIABNY ) said. IIABNY said a recent analysis of New York agents in the 2014 Agency ...

7 Types of 'Insurance' That Are a Waste of Money
Some types of insurance and financial protection are not only smart, but legally required: Most states demand some sort of vehicle insurance. Now, with the Affordable Care Act, you can add health insurance to the required list. Other coverage just ...

Do You Really Need Long Term Care Insurance?
Long term care insurance is designed to help you cover the costs of a nursing home or other skilled care as you age. As with most insurance policies, you must consider purchasing it before you need it, as policies become either unavailable or ...