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Insurance News 09/2015



Medicaid drives big increase in Colorado health insurance coverage
Medical bill bankruptcies have declined by more than half in two years, but 82 percent of Coloradans who lack coverage still say insurance premiums are too high. Those are some findings of the Colorado Health Access Survey issued by the Colorado Health ...

2300 temporary UI employees to get health insurance starting in January
URBANA — About 2,300 temporary employees at the University of Illinois' three campuses will get health insurance as of Jan. 1 under a provision of the Affordable Care Act. Starting in 2016, the federal health law requires employers to provide ...

Make your insurance business more profitable with PEO relationships
Independent insurance agents typically sell insurance policies—and they may not even know about the benefits and commission structure of a PEO. We've found that when independent insurance agents understand the value of a PEO for themselves and ...

P/C Insurance Industry's Low Unemployment Rate Likely to Go Lower
“The survey results show revenue growth predictions dropping to their lowest rate in three years,” says Gregory P. Jacobson, co-chief executive officer of Jacobson, the insurance recruiting firm. “Despite this drop, staffing predictions are at their ...

Liability insurance offered for Florida educators
David Clark, director of labor relations for Leon County Schools, reported that the district was expected to receive information from the Department of Education about the new insurance coverage by today and relay details to teachers and instructional ...

Insurance rates in children's health program to rise
Thousands of children in the Florida Healthy Kids health-insurance program will see their rates jump as of Oct. 1 -- and state officials are blaming the federal Affordable Care Act. The increases don't affect all children covered by the Florida Healthy ...

9 Factors to Consider Before Buying Long-Term Care Insurance
About 13 percent of Americans try to answer this question by buying long-term care insurance, which is a fraction of those who will need help. Yet issues with long-term care insurance, including rising costs and exclusions, make it less popular than it ...

Are These 5 Trendy Insurance Policies Really Worth The Money?
By Jessica Downey. This story originally appeared on LearnVest. Hackers stealing your identity. A freak storm on your wedding day. Fido swallowing his squeaky toy. These unexpected events can wreak havoc on your life—and your money. And while they ...

Insurance Megamergers Won't Help Patients or MDs
“A Healthy Side of Insurance Mega-Mergers” by Victor R. Fuchs and Peter V. Lee (Aug. 27) wrongly states that the insurance megadeals will be good for consumers because it will force hospitals to lower prices. Despite fears that hospital mergers would ...

Business Owners: Do You Have Proper Insurance Coverage?
As a business owner, I have always been concerned about making sure that I have the insurance coverage my family needs to remain protected. Without a traditional employer to offer access to discounted health, disability and life insurance, you might ...

Proposed autism insurance bill raises concerns for local parents
GREENSBORO, N.C. -- North Carolina parents and organizations have fought for years to require insurance companies to cover autism treatments, which can costs families tens of thousands of dollars a year. Forty-two states plus the District of Columbia ...

Insurance consumer advocate challenging Citizens rate increase request
It's an age-old thing: Advertisements tell us we're “saving” if we buy now. But it all depends on whether we really need or want the product. Otherwise, it's not saving. It's just spending. Now turn to property insurance. Take a careful look at the 3.2 ...

Now Is the Time to Buy Renters Insurance
Renters insurance works like a regular homeowners insurance policy but does not cover the structure. The policy can cover damage to personal property from fire, theft and other problems, not including floods or earthquakes that require an additional ...

NC car insurance rates could rise if driver ed funding cut
Insurance Commissioner Wayne Goodwin on Tuesday urged the North Carolina Senate and House of Representatives to preserve funding for driver's education as part of the budget. The North Carolina General Assembly has not reached a final budget and ...

Even with health insurance, many Michiganders struggle to afford care
Many Michigan residents are going without medical care – despite having health insurance – because of rising deductibles and co-pays. Out-of-pocket health care costs have risen much faster than wages, as employers have shifted more costs to workers and ...

Limited Benefit Insurance: An Alternative To ObamaCare
This piece was co-authored by Dr. Linda Gorman. Dr. Gorman is the Director of Heath Care Policy at the Independence Institute. One of the strangest things about Obamacare is that it is trying to force millions of families to obtain the wrong kind of ...

Censio, Led by Ex-Zipcar CEO, Brings Mobile Tech to Car Insurance
In the business of connected cars, at least one clear market has emerged: insurance. Today a Boston startup is taking a big step in that market. Censio, which has been growing quietly next to the Harvard Innovation Lab, said Wednesday it has formed a ...

If Crop Insurance Subsidy Disappears, Will Premiums Rise For All?
Congress continues to discuss reducing or eliminating the subsidies for crop insurance premiums for those producers whose adjusted gross income exceeds a certain level ($750,000 is a current number discussed). If these subsidies are eliminated for ...

Long Term Disability Insurance -- Is This The Most Important Insurance You Don ...
Long Term Disability Insurance -- Is This The Most Important Insurance You Don ...

US industry group balks at higher capital standards for insurance companies
A U.S. financial services trade group has urged industry regulators to reject additional capital requirements for big insurance firms, as proposed by the International Association of Insurance Supervisors. The Financial Services Roundtable ...

Managing the Costs of Long-Term Care Insurance
New York consumers are among the latest to receive word of double-digit increases in the premiums they must pay to keep their insurance coverage for long-term care. Insurance regulators in many states have been approving large increases in long-term ...

Nevadans to see premium increases in 2016 health insurance rates
The Nevada Division of Insurance said Wednesday that it has approved 2016 health insurance rates for individual and small-group coverage. For small businesses and their employees, premiums will rise an average of 5 percent, the division said. Consumers ...

$600K in grants fund Del. health insurance help
Two local health care agencies are getting extra help in their efforts to aid community members in getting health insurance through the national marketplace. Chatman LLC, located in Wilmington and Georgetown, and Westside Family Healthcare, located in ...

Insurance agents rescue 4 parakeets left by a dumpster
Allstate Insurance agents and four orphan parakeets have proven that they're birds of a feather that flock together. It was the morning of Aug. 6 when Jeannie Peter, a senior insurance producer at Allstate, stopped at Chipotle Mexican Grill, on Hudson ...

Secrets To Your Car Insurance Rates Revealed
NORTH TEXAS (CBS 11 NEWS) – You probably know your age, where you live, and how you drive impacts your car insurance rates… but did you know where you shop, what credit cards you use, and your level of education could also be a factor? Consumer ...

Pennsylvania warns insurance companies on 'unfair' tactics
Pennsylvania has become the eighth state in the nation to officially warn insurance companies against using so-called “price optimization” techniques that raise rates for policyholders who are considered unlikely to search for a better deal. “It is ...

Narrow Insurance Networks -- Popular in NJ -- Extend to Relatively Few Providers
New Jersey was among the states with the largest share of health insurance plans that offered relatively little choice of doctors to individual consumers, , according to a new research brief. Two of three New Jersey insurance networks that were studied ...

Crashes causing auto-insurance rates to climb
In Ohio, the number of vehicle crashes rose 7 percent in 2014, according to data collected by the Ohio Department of Public Safety from the state's police departments. The Ohio Insurance Institute said insurers paid out $3.8 billion in personal and ...

Are Small Captive Insurance Companies Tax Scams?
Increasingly, small and mid-sized businesses are setting up small or microcaptives. With a small captive insurance company, the insured can deduct up to US$1.2 million in premiums and choose to be taxed on net investment income instead of premium ...

Car KARE Tip: Finding the best auto insurance
"Some things that can play in for better rates would be a little bit better credit score, insurance uses an insurance rating score not a true credit score so it's going to pick a few pieces off of that, so with that strong that can lead to better rates ...

AIG Launches Insurance for Couture, Designer Wardrobe Collections
AIG Private Client Group, a division of American International Group, Inc. that serves high net worth policyholders, has introduced wearable collections coverage, a specialized insurance product for couture and designer wearable collections. The new ...

UCare seeks to break state's grip on insurance
The court battle between the state of Minnesota and UCare shows exactly why consumers — not government — should be the driving force in insurance markets. UCare sued the state recently over a statewide decision to eliminate its participation in the ...

Companies That Offer High-Risk Car Insurance Quotes
Many major carriers will insure nonstandard drivers. In fact, Progressive started out as a high-risk insurer. Large insurance companies often operate a subsidiary intended for drivers with less-than-optimal characteristics. For example, Geico places ...

Auto-Owners Insurance acquires North Carolina-based agency
LANSING – Auto-Owners Insurance has acquired North Carolina-based Atlantic Casualty Insurance Company. Atlantic Casualty is an excess and surplus lines insurer, which provides coverage for risks that are too high for regular insurance carriers to take ...

Should You Buy Dorm Insurance?
The accoutrements of your student's extracurricular life, including bicycles, sports equipment, musical instruments, and digital cameras, cost a pretty penny to replace, too. But before you plunk down your money for dorm insurance, you should assess ...

Insurance agents accused of taking $250000 from clients
According to the news release, the criminal complaint states that the Krugers, who operated the Kruger Insurance Agency in Paynesville, convinced insurance and tax clients to invest in a product purportedly tied to a “custodial account” administered by ...

North Carolina Man Accused of Defrauding Insurance Companies
Department of Insurance criminal investigators accuse Barnhardt of receiving payment from Scottsdale Insurance Co. and the Hartford Accident and Indemnity Co. by means of false pretense. Investigators allege Barnhardt presented false and altered ...

Zurich Names Terryn General Insurance CEO, as Kerner Steps Down
Zurich Insurance Group announced that Kristof Terryn, currently CEO of Global Life, will take over as CEO of General Insurance, effective October 1, 2015. He replaces Mike Kerner, who is stepping down for personal reasons and will be leaving the ...

UPDATE 1-CIMB seeks bids for Southeast Asia insurance distribution - sources
SINGAPORE/KUALA LUMPUR, Sept 4 (Reuters) - Malaysian lender CIMB Group Holdings has invited bids from insurers for an agreement to distribute their general insurance products in four Southeast Asian markets, a deal that could fetch it about $400 ...

Cyber insurance market will be worth $10bn by 2020, but still vastly untapped
According to ABI Research, the market for cyber insurance is set to hit $10 billion by the year 2020. That's just a fraction of the total global insurance market, but the growth rate is striking, driven largely by the increase in costs associated with ...

Wisconsin legislative Democrats target health insurance rate increases with ...
Wisconsin legislative Democrats target health insurance rate increases with ...

Have insurance through healthcare.gov? Prepare for changes
Highmark Health, which has dominated the Affordable Care Act online health insurance marketplace in Pennsylvania, is changing course. The Pittsburgh-based nonprofit announced this week that after losing $318 million in the first half of this year on ...

Price to jump for most popular health plan on Maryland insurance exchange
The price of the most popular health plans sold through Maryland's insurance exchange will jump, on average, by about one quarter next year, fueling questions about whether coverage under the Affordable Care Act will remain affordable in the state and ...

McCormick Joins Centauri Insurance as Sales Manager in Texas
McCormick comes to Centauri after a 26 year career with Allstate Insurance, and brings extensive experience to the position, including leading agency communications, public relations and agency engagement. Most recently he was corporate relations ...

How an insurance company is trying to craft eyewear of the future
Instead, I was in the West Coast home of The Shop, a think tank innovation lab run by VSP, the nation's largest provider of vision care insurance. It's a little odd to think about an institution as stodgy as your insurance company having its own ...

2 Miami women accused of insurance fraud, identity theft
Two women from Miami were arrested this week for allegedly using licensed insurance representatives' licenses to conduct more than $200,000 in fraudulent insurance transactions. The Florida Department of Financial Services' Division of Insurance Fraud ...

County counts $2 million insurance savings
Board of Commissioners President John Evans, R-North, noted the savings at a recent commissioners meeting. According to documents provided by Evans and prepared by Anton Insurance Agency, the county's servicing agent, claims through the end of ...

Amid drought, thousands of Californians cancel their flood insurance
Regular homeowner's insurance usually doesn't cover floods. Tens of thousands of Californians are required to purchase flood insurance because they live in areas at high risk of flooding during heavy rain years. Others are at risk but not mandated by ...

Wisconsin Democrats introduce bill to tighten regulations on health insurance ...
Wisconsin Democrats introduce bill to tighten regulations on health insurance ...

Make an educated decision on flood insurance
As many in Texas and Oklahoma have discovered, flood damage is normally not covered on a standard home or business insurance policy and must be purchased separately or in addition to regular property insurance. Simply put, many go uncovered without ...