Home > Insurance News

Insurance News 06/2015



Dave Says: Child's illness prompts life insurance denial
It's generally pretty hard, for obvious reasons, for hemophiliacs to get life insurance. I hope you understand that's a statistical statement, not a spiritual statement. You can always cover him as a child by building an emergency fund over and above ...

Florida insurance industry in better shape to face hurricane season
The state-run Citizens Property Insurance Company, which became the largest insurance carrier in Florida after 2005, has reduced its number of policies to 592,000, about 1 million less than its peak in 2012. It says it now has $7.4 billion in reserves ...

House Democrat Backed By Insurance Companies Pushes Mandatory Gun ...
House Democrat Backed By Insurance Companies Pushes Mandatory Gun ...

Why Some Insurance Experts Say Deductibles Should Be So High It Hurts
NEW YORK (MainStreet) — You can save up to 41% in home insurance premiums if you raise your policy's deductible — but there is risk. Insurers will charge you less in premiums if you hike your deductible, although the amount you save depends on what ...

Insurance for newlyweds
When two individuals get married the law allows for either person to be added to their spouse's health insurance policy without having to wait for the employer's open enrollment period. Block said couples should consider the benefits and costs for the ...

Health system's data breach insurance claims get challenged
What happens when a health system with liability insurance fails to secure protected health information of its patients and is hit with a $4.13 million class action settlement for it? The civil actions of one insurance company are suggesting the claims ...

Syracuse among NY colleges which might have to take on added insurance ...
Syracuse among NY colleges which might have to take on added insurance ...

This vacation disruptor could really cost you
"That could lull people into a false sense of security," said Robert Hartwig, president of the Insurance Information Institute. After all, it only takes one to derail your wedding, disrupt your vacation or damage your home. Hartwig and the NOAA point ...

Renters Insurance: Why You Need It and How to Get It
For many people renting apartments in New York City, renters insurance is in the back of their mind as something they should have but haven't gotten around to yet. There's no blanket rule or law requiring that you purchase a policy for your apartment ...

Health insurance rates could rise substantially in Alabama
Big rate increases could be coming for Alabamians who buy insurance on the federal exchange. Blue Cross Blue Shield of Alabama is requesting an average increase of 28 percent for individual plans. Rates for its Blue Choice Platinum - Individual plan ...

Will these big Obamacare rates get approved?
The Centers for Medicare and Medicaid Services released the proposed hikes of 10 percent or more in 37 states using the federal HealthCare.gov insurance platform, as well as several other states using their own Obamacare insurance exchanges. Two of ...

Baltimore County businessman claims 'no victims' in federal insurance fraud case
While admitting to fabricating assets and having "misrepresented financials" for his Sparks-based Indemnity Insurance Corp., Cohen vehemently denied related allegations that he intended to do "physical harm" to two Delaware officials who investigated ...

Billerica selectmen vote to eliminate health insurance for board members
BILLERICA -- Two selectmen will have to shop for new health insurance if they're re-elected next year. After many years of debate, Billerica selectmen voted 2-1 on Monday to strip selectmen from having the option to receive town health insurance ...

Health insurers seek big premium hikes for ObamaCare plans in 2016
In Pennsylvania, Highmark Health Insurance Co. is asking for a 30 percent increase. The preliminary requests were announced as the Supreme Court prepares to rule on the validity of ObamaCare's tax credits to offset the cost of premiums for lower-income ...

Can You Afford to Live Without Flood Insurance?
You can look up the risk of flooding for your address and get price quotes at FloodSmart.gov. Your mortgage company may require you to get flood insurance if you live in a high-risk area, but the coverage can be valuable even if your lender doesn't ...

Drone Industry Development Backed by Plentiful Insurance Capacity: Marsh ...
Drone Industry Development Backed by Plentiful Insurance Capacity: Marsh ...

Wolf seeks state authority over health insurance marketplace
Tom Wolf's administration said Tuesday it has formally applied to take over the operation of Pennsylvania's health insurance marketplace as the Democrat seeks a bulwark against the potential loss of health insurance subsidies for hundreds of thousands ...

Head of federal flood insurance program out after just 3+ months
When he was appointed by FEMA Administrator Craig Fugate to take over the job, the program was under attack from officials in New York and New Jersey, accusing it of shortchanging victims of Super Storm Sunday by allowing insurance companies to ...

Pit bulls put bite on disabled Oregonians' chances for homeowners insurance ...
Pit bulls put bite on disabled Oregonians' chances for homeowners insurance ...

Insurance Broker Stole $10M From Aetna
Federal prosecutors said Bonney J. Hebert, 59, former owner of the agency Academic Risk Resources and Insurance appeared in U.S. District Court in Hartford. Hebert, who lives in Killington, Vt., admitted the theft to Aetna three years ago, but has ...

California Senate votes to let undocumented immigrants buy health insurance
But the measure would not provide a subsidy for undocumented immigrants to buy health insurance, unlike U.S. citizens and legal residents who can qualify for such assistance based on their incomes, Melgar said. It would, however, expand medical ...

Oklahoma Insurance Department hoping to protect seniors from scammers
Many times crooks target senior citizens and that's why the Oklahoma Insurance Department is holding senior fraud conferences all over the state of Oklahoma through July to address topics like Medicare, insurance, investment and banking fraud. Seniors ...

What Is an Insurance Premium?
An insurance premium is simply the amount of money you must pay to maintain insurance coverage. Premiums are typically billed monthly, quarterly, or annually. And in every case, the premium is paid before your coverage begins. Thus, a monthly car ...

Health insurance premiums expected to rise
(WBIR) Health insurance premiums are expected to increase by double digits in 2016 for people who have insurance through the federal health exchanges. Blue Cross Blue Shield of Tennessee proposed a 36.3% hike, Humana proposed a 15.8% hike, and ...

State insurance head: Requested rate hikes no surprise
The new head of Michigan's insurance regulatory department — an office considering requests for some double-digit rate hikes in the individual market next year — said costs of coverage are likely to increase as medical costs rise. The best advice for ...

Federal flood insurance program hopes to do better in Texas
The catastrophic floods in Texas and Oklahoma have receded, but now comes the hard part: How people there with federal flood insurance can rebuild their lives and homes. The Federal Emergency Management Agency (FEMA) wants to assure that folks ...

Proposal would slash South Bend sewer insurance premiums
SOUTH BEND — City sewer customers may soon pay less for repairs under the city's sewer insurance program. A measure before the Common Council would lower the deductible for covered repairs from $500 to $250. In addition, the city would cover in-kind ...

Despite Obamacare, gap health insurance market explodes
NEW YORK Despite the promise of coverage through the U.S. Affordable Care Act (ACA), the number of people applying for non-compliant, short-term health insurance policies was up more than 100 percent in 2014, according to new data available from ...

Georgians face health insurance spike
Insurers' requests in Georgia range as high as a 64.2 percent increase for a Time Insurance Co. plan for individual coverage starting in January. But most of the double-digit increases being requested in the state are in the range of 10 percent to 20 ...

Rich towns pay less for flood coverage, study finds
In Edgartown on Martha's Vineyard, where stately homes and oceanfront retreats have lured sea captains, celebrities and even vacationing presidents, homeowners pay an average of about $1,400 annually in flood insurance premiums, less than many other ...

The Journal Record: Legislation Could Affect Insurance Policies - NewsOn6.com ...
The Journal Record: Legislation Could Affect Insurance Policies - NewsOn6.com ...

Crop insurance helps farmers survive...
Crop insurance helps farmers survive...

How Do Justices Weigh Loss of Health Insurance for Millions?
The Supreme Court could wipe away health insurance for millions of Americans when it resolves the latest fight over President Barack Obama's health overhaul. But would the court take away a benefit from so many people? Should the justices even consider ...

Allstate offers insurance for Uber drivers
Allstate will offer Ride for Hire coverage in Illinois, Colorado, Texas and Virginia in 2015 and said it plans to start offering the coverage in other major markets in 2016. Companies including Farmers, Geico, and USAA started offering ride-sharing ...

How to Fix the Broken Disability Insurance System
In the years following the Great Recession, social scientists observed a steady increase in the percentage of the working population claiming federal disability insurance benefits. This led to concern that the program was being used as an alternative ...

New cut-rate auto insurance plan not just for Detroit
LANSING – The Senate Insurance Committee today passed an amended version of Detroit Mayor Mike Duggan's cut-rate D-Insurance auto insurance plan that would extend the plan to other Michigan cities beyond Detroit. As proposed earlier, the ...

Most health insurance companies ask for higher rates in 2016
Most health insurance companies want to raise prices on Kentucky's health exchange next year, and some companies are blaming the Affordable Care Act for the higher costs. The Kentucky Department of Insurance posted rate requests from the state's major ...

Flood insurance costs going up by at least 10 percent
Get ready to pay more for flood insurance. Houston flood victims are still trying to get their lives back to normal, and now they are finding out that flood insurance policy that they are so grateful for will soon cost more. You do not have to convince ...

Senate passes health insurance plan but opposition remains
The Florida Senate capped one of the most politically divisive debates in decades Wednesday and gave bi-partisan approval to a plan that draws federal Medicaid money into a privately run program to provide subsidized health insurance to low-income, ...

Florida Senate passes health insurance plan but opposition persists
TALLAHASSEE — The Florida Senate capped one of the most politically divisive debates in decades Wednesday and gave bipartisan approval to a plan that draws federal Medicaid money into a privately run program to provide subsidized health insurance ...

Most Alabamians on Obamacare exchange who liked their insurance plans, kept ...
Most Alabamians on Obamacare exchange who liked their insurance plans, kept ...

Do you need travel insurance? Use this checklist
For some trips, travel insurance is a virtual necessity; for others, it's worthless. The question boils down to a matter of risk. A basic purpose of any insurance is to mitigate financial risk. So when you have a travel risk, travel insurance can help ...

Lloyds Bank Is Said to Face Potential Fine Over Handling of Insurance Complaints
LONDON — British regulators are preparing to impose a substantial fine on the Lloyds Banking Group for its handling of customer complaints related to a contentious insurance product that has cost the industry billions of dollars, a person familiar ...

Stocks to Watch in Insurance
Insurance stocks aren't the kind of investment that will make you rich overnight, but they can certainly make you wealthy. Smart operators in this sleepy industry can generate double-digit returns on equity over years, delivering stellar returns ...

4 charged in insurance scheme, Passaic prosecutor says
Gross paid James Hill, 50, of Hasbrouck Heights, to illegally refer patients to his practice where the chiropractor could treat them and file insurance claims in a scam known as "running," Valdes said. Hill also failed to pay state income taxes on the ...

Car Insurance Myth 101: You car's color has nothing to do with how much you pay
That little red Corvette might have higher insurance rates, but it has nothing to do with the car's flashy paintjob. Believe it or not, it's a common belief that a car's paintjob can affect how much the owner will pay to insure his or her pride and joy ...

Baltimore officials back off plan to charge smokers more for health insurance
The city planned to save $700,000 annually by denying coverage for erectile dysfunction drugs for retirees, and $2.3 million requiring tobacco users covered by city employee or retiree health plans to pay 50 percent more for their insurance. The ...

Transgender people face maze of difficulties with health insurance, doctors
An estimated 700,000 transgender people live in the U.S. As public awareness of this population grows, spurred by such high-profile stories as that of Bruce Jenner's transition to Caitlyn, it's become clear that health insurance coverage for ...

Washington health insurance prices going down for some
SEATTLE (AP) — While some states are expecting double-digit increases in individual health care insurance premiums next year, some Washington insurers on the state exchange plan to lower their rates for 2016. Most Washington residents who buy health ...

8 Minnesota Insurance Companies Proposing Big Rate Hikes
MINNEAPOLIS (WCCO) – Eight Minnesota companies are asking for big rate hikes for health insurance premiums in 2016. Many of the proposed increase are in excess of 50 percent. The eight insurance companies who are requesting premium increases of ...