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Insurance News 08/2017



Automobile Insurance Coverage
We often hear people say that they have full coverage insurance believing that that means that they are absolutely fully covered. That is not usually the case. Legally, you are supposed to have coverage for the other person's medical bills and injuries ...

The Americans Who Saved Health Insurance
There, she asked her House representative, Diane Black, to fix Obamacare's problems instead of taking away insurance. “As a Christian, my whole philosophy in life is pull up the unfortunate,” Bohon told Black. “We are effectively punishing our sickest ...

California to release 2018 insurance rates amid uncertainty
California officials plan to release next year's monthly premiums Tuesday for people who buy individual insurance plans under former President Barack Obama's health care overhaul. The announcement comes at a time of extreme uncertainty about the future ...

Trump's Tweets Threaten To Destabilize Insurance Markets
Rather, they reimburse insurance companies for discounts the law requires them to give to low-income people who buy insurance through the Affordable Care Act exchanges. The federal money that goes to insurers in these payments, known as cost-sharing ...

Trump must decide course on insurance rates
In Pennsylvania, for instance, Insurance Commissioner Teresa Miller said she fears insurers will raise rates by 25 percent or more if the administration doesn't sustain Obamacare's subsidies and coverage mandates. There's reason to doubt Trump will do ...

Minnesota's insurance rates set to stabilize for 2018
Proposed rates by insurance companies could be good news for people who buy their own polices in southeast Minnesota as well as the rest of the state. All insurers that currently offer health plans in Minnesota's individual market have filed rate ...

Commercial Insurance Sales Agent
AAA Insurance is one of the fastest growing companies in the nation. We are committed to building a team of the right people eager to develop within our organization as we expand. Our company culture is one that rewards innovation, creativity and hard ...

Young Entrepreneur and Pilot Faces Decades in Prison for Insurance Fraud
Federal prosecutors allege that Wright, who was involved in a highly publicized ditching of his Beech Baron in the Gulf of Mexico in 2012, set the plane down in deep water intentionally so he could collect $85,000 in insurance money, almost double what ...

Michigan delays posting proposed health insurance rates
The state Department of Insurance and Financial Services was supposed to publish the proposed 2018 rate hikes Tuesday. But it secured a 30-day extension from the federal government, citing "uncertainty" over whether insurance companies will be ...

The Latest: Senators seek ways to fortify insurance markets
There are signs of a modest bipartisan effort to buttress health insurance markets, four days after the GOP effort to uproot and reshape the Obama health care law crumpled in the Senate. The Republican chairman of the Senate health committee, Tennessee ...

Kanye West's touring company sues over concert insurance
A lawsuit filed Tuesday by representatives of Kanye West claims insurers have failed to pay nearly $10 million for West's canceled Saint Pablo Tour last year. The suit filed by Very Good Touring against several Lloyd's of London syndicates alleges ...

NY insurance company dragged into Wells Fargo scandal
The New York insurance company that wrote policies for 800,000 questionable Wells Fargo auto loans has been dragged into the bank's latest scandal. National General Insurance was named in a class-action lawsuit filed against the bank — for allegedly ...

Alaska health insurance exchange premiums are going down. Seriously.
The news might be a sign of stability in Alaska's health insurance market, which has the highest priced insurance premiums in the nation. But Premera cautions against reading too much into it. Alaska's market is small and remains volatile, the company ...

Lawmakers reject plan to stabilize NH health insurance market
A panel of lawmakers has rejected a key part of the plan put forward by the state's insurance department to keep New Hampshire's individual health insurance market from collapsing next year. With uncertainty in Washington surrounding the Affordable ...

Compare.com Is Proof Insurance Disruption Won't Happen Overnight: CEO Rose
Disrupting an industry that has been doing things the same way for a generation takes time. Take it from one major insurance disruptor – compare.com. The online insurance comparison marketplace launched in the U.S. in 2013 and now operates in all ...

Self-Driving Cars Are Confusing Drivers—And Spooking Insurers
British auto insurance companies call this "autonomous ambiguity," and it is not an abstract issue. Automakers like Audi, Cadillac, Mercedes-Benz, Tesla, and Volvo already or will very soon offer vehicles that do some of the driving for you. In a new ...

Blue-collar Michiganders are paying more for auto insurance, study finds
LANSING, MI - Michiganders who don't have fancy job titles, college degrees and a home they own pay more for car insurance, according to a study released recently by the Coalition to Protect Auto No-Fault. The study looked at auto insurance costs in ...

Senator Announces Bipartisan Hearing to Help Prevent Collapse of Health Insurance Market
Several Republican and Democrat lawmakers agree that Congress needs to prevent a collapse of the health insurance market, which could hurt millions of consumers — and that concern has opened up some bipartisan dialogue. Senate Health, Education ...

Kanye West Sues Insurance Company for Saint Pablo Tour Cancellation
Recently, the folks at The Hollywood Reporter revealed the rap legend filed a $10 million lawsuit against syndicates of insurer Lloyd's of London, claiming the group is stalling as they find out ways they can avoid paying him the insurance money they ...

How hospitals could kill the health insurance industry
Hospitals are offering their own insurance plans and could easily destroy the private insurance industry as we know it. With hospitals consolidating and still setting prices, the need for an insurance middleman is shrinking. The recent health bill ...

Lawmakers unmoved by Trump threat to ax money for their insurance
who has criticized the payments and even gone to the Supreme Court to try to stop them, said eliminating them would expose lawmakers to the true cost of Obamacare health insurance and spur renewed action on repeal. “Until members of Congress are in ...

Kanye West slaps insurance company with $10-million lawsuit over canceled tour dates
The rapper and producer Kanye West has sued insurance company Lloyd's of London and its affiliated syndicates for $10 million, alleging it is delaying a claim stemming from 21 canceled dates on last year's Saint Pablo Tour. Filed by West's touring ...

Exclusive: NY regulator subpoenas Wells Fargo over unwanted auto insurance
NEW YORK (Reuters) - New York state's banking and insurance regulator has issued subpoenas to two Wells Fargo & Co units after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing ...

Meet the 95-Year-Old Math Geek Who Is Now America's Oldest Billionaire
If you ever wondered why your auto insurance rate is tied to your driving record, ask George Joseph. Joseph's story can also explain why you get a discount when buying home and auto insurance from the same company. When auto insurance was first rolled ...

US governors urge Trump to make insurance payments
WASHINGTON (Reuters) - Democratic and Republican U.S. governors on Wednesday urged the Trump administration, as well as Congress, to continue funding payments to health insurance companies that make Obamacare plans affordable, calling it critical ...

State approves 50000 insurance policies for takeout from Citizens
Two private-market insurance companies have been approved to “take out” up to 50,000 residential policies from state-run Citizens Property Insurance Corp. Safepoint Insurance Co. and Southern Oak Insurance Co. were approved by the state Office of ...

Molina pulls out of Utah health insurance marketplace - The Salt ...
Molina pulls out of Utah health insurance marketplace - The Salt ...

Lawmakers Reject NH Insurance Plan
Concord — A legislative committee on Tuesday rejected a key part of a plan designed to prevent the collapse of New Hampshire's individual health insurance market. With continuing uncertainty in Washington, some premiums under the federal Affordable ...

Health insurance fraud rings might try to recruit you, expert warns
That person might be part of an organized fraud ring, looking for people to seek unneeded medical treatment as part of a scheme to get payments from insurance companies or government health programs. “In Nebraska, Omaha is really where most of it ...

Did you commit fraud when you bought car insurance?
Americans might agree that auto insurance companies aren't perfect when it comes to deciding how much policyholders should pay in premiums. Most of us think our rates should be lower. Yet a study by insurance industry data collector Verisk Analytics ...

Kanye West's $10 million insurance battle with Lloyd's is really ugly
Lloyd's, the London-based insurance underwriter, is proud of its reputation as the company that “specializes in unusual risks.” They include: the legs of Betty Grable, Rudolf Nureyev, Michael Flatley and David Beckham; the breasts of Dolly Parton; the ...

The 10 most-stolen cars and the cost of theft insurance
Driving an older vehicle is often a smart financial decision, as they're typically more affordable to buy and insure. But an older vehicle could also make you a target for car thieves. The National Insurance Crime Bureau recently released its annual ...

Records: Insurance Company Employees In Nathan Carman Case Concerned About Safety
The insurance company seeking a court ruling to avoid paying Nathan Carman for the loss of his boat, which sank with him and his mother aboard last September, are seeking to bring the disappearance of his mother and the unsolved killing of his ...

Loebsack calls for stabilizing health insurance markets
In Iowa, for example, Minnesota-based Medica — the last remaining insurer selling individual insurance plans in a majority of Iowa counties — has said it will continue to sell plans for the 2018 coverage year. However, Medica told the Iowa insurance ...

Bipartisan moves to steady insurance market face same old conflicts over regulation
He has proposed expanding state innovation waivers to allow states to waive ACA insurance requirements such as minimum essential health benefits. A bipartisan group of 40 House lawmakers, calling themselves the Bipartisan Problem Solvers Caucus, has ...

Will Your Health Insurance Cover You Overseas?
But experts say 15 percent of travelers encounter some kind of medical problem on their journey, and depending on your destination, your U.S. health insurance may not be much use. The good news is that if you have to look beyond your own health plan, ...

FCC proposes $82M fine for health insurance telemarketer over illegal robocalls
The FCC has proposed today a fine of more than $82 million against a North Carolina man and his insurance company that, it says, made more than 21 million illegal robocalls nationwide in an effort to sell health insurance. The U.S. Federal ...

Insurance agents: Soaring car insurance rates could trigger crisis
NEW ORLEANS -- According to a new report, Louisiana has the second highest car insurance rates in the country. And some insurance agents worry it could lead to a coverage crisis. "No more handle, it's a sensor," Oscar Enamorado pointed to a repair he ...

Cancun's coral reef receives a health insurance policy
You likely use life, health and auto insurance — but what about reef insurance? A 40-mile stretch of the Mesoamerican coral reef off the coast of Cancun, Mexico, soon will be the first in the world with its own insurance policy, piloted by the Nature ...

Nearly half of counties have no providers or one for health insurance on the Obamacare exchanges?
The Affordable Care Act did not meet all its promises, including a big one -- that you could keep your insurance plan if you liked it. But health care costs have risen more slowly since the law took effect and the law has met its major goal of getting ...

Doctors, residents plead for better insurance
SUNBURY — What began as a quiet Pennsylvania Department of Insurance symposium on health care escalated into a series of passionate pleas by health care providers in the audience, who talked about faults in the system, and suggestions by area ...

Big Data Is Coming to Take Your Health Insurance
For all its absurdity, the debate over Obamacare has accomplished something positive: It has educated people that insurance is really about risk pooling -- as in you need both healthy and sick people to participate if it's going to be affordable for ...

Trump has a plan to make health insurance more expensive for you and the government
President Trump is trying to decide whether he wants to make health insurance more expensive for people purely out of spite. This is apparently a hard choice for him. Trump has equivocated for months now about whether he will keep making Obamacare's ...

Employer-Based Health Insurance Likely to Stay Despite Obamacare Turmoil
Get your insurance through your employer? The ongoing political turmoil around "Obamacare" all but guarantees you'll still be able to do that. Ask Walt Rowen, whose business is etching glass but whose experience managing century-old, family-owned ...

Insurance Agent's License Revoked | Local News | kpvi.com
BOISE ID – Effective August 1, 2017, the Idaho Department of Insurance revoked the insurance producer license of Jordan Tait, Rexburg, for unfair trade ...

AAMC, CareFirst reach agreement in insurance dispute
Anne Arundel Medical Center and CareFirst have made up after the hospital threatened to end its contract with the insurance provider. In a joint statement Friday afternoon, hospital and insurance officials said they've reached an agreement that will ...

Maybe it's time to pull the plug on health insurance
With the Obamacare repeal effort dead, Senate Republicans & Democrats are scrambling to save subsidies for health-insurance companies. But the insurers are flush with massive profits and renewed arrogance thanks to Obamacare. Instead of keeping the ...

Check your insurance before heading to Sturgis Motorcycle Rally
"The state minimum for insurance is $25,000. I can tell you in a motorcycle collision, that is gone before the first day of care is gone, especially in a traumatic case. Where it's not unusual to see a $100,000 or even close to $1,000,000 in medical ...

Wells Fargo Clients Want Credit Repair for Insurance Debacle
Wells Fargo & Co. customers suing the bank for forcing them to pay for unnecessary auto insurance that drove some of them into default on their car loans asked a court to order the bank to immediately take steps to repair their credit reports. The ...

Can Congress Bring the National Flood Insurance Program Above Water?
And while this time of year is always meteorologically suspenseful, now it's even more so. That's because among the many, many things Congress is struggling to cross off its to-do list is the reform and reauthorization of the National Flood Insurance ...