Crop insurance rates drop for American rice and soybeans

Corn Belt - GMO Crop Insurance program

The government of the United States has ordered insurers to decrease premiums for those growers. The U.S. government has just released a crop insurance order to insurers which requires them to decrease the premiums that they are charging to growers of soybeans for the second consecutive year. This move has been made despite the massive drought that has been experienced across the farmlands. This crop insurance premiums drop was only one element of a greater revision of the rates for six of the country’s major crops. This, even as many…

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Life insurance regulations overhaul isn’t ready for California commissioner’s vote

California life Insurance Commissioner Dave Jones

The top official of the state’s industry regulator says the rules need more polish. The commissioner in California has cautioned the regulators of other states that he will not be voting in favor of a life insurance regulations overhaul until a better understanding of the necessary resources is established. The overhaul would change the way that insurers establish their claims reserves. Commissioner Dave Jones said that he was not ready to vote for the life insurance regulations overhaul because the industry did not yet have a firm enough grasp on…

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Auto insurance consumers are warned against underinsuring

Online Auto Insurance

Policyholders are being warned to take action to protect themselves. The National Association of Insurance Commissioners has recently released information that is designed to help auto insurance customers to protect themselves against buying coverage that is inadequate for their personal needs when shopping for coverage. This type of problem is especially strong among consumers with credit struggles. Many auto insurance shoppers can find that they struggle to obtain affordable coverage because credit scores are often used as a factor in the calculation of monthly premiums. However, the National Association of…

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Report highlights problems in employer health insurance plans

Health Insurance time decision

As health insurance gets expensive, productivity drops amongst employees A new report from Truven Healthcare, Harvard University, and the University of Michigan suggests that as health insurance costs grow, productivity amongst employees declines. This is due to a trend amongst U.S. employers who are looking to reduce the amount of money they pay in providing health insurance benefits for workers by having employees pay a larger share of monthly premiums. Many employers claim that this tactic is necessary to continue providing employees with benefits, but as prices grow, employees are…

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Kansas residents go without health insurance coverage

people without health insurance - 2011

Census report shows many Kansas residents lack health insurance coverage The U.S. Census Bureau has released estimates concerning health insurance coverage for every state in the country and its 3,200 counties. The report containing these estimates was released this week and shows that Kansas is among the states with the lowest level of health insurance coverage. The report shows that the number of people below the age of 65 without health insurance coverage has increased since 2010. A poor economic climate and the rising costs of medical care are cited…

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New health insurance benefits for women go into effect

women insurance

Insurers now required to provide preventative benefits to women at no additional cost This week, all active health insurance plans in the U.S. are required to provide preventative benefits at no additional cost for women. This comes courtesy of the Affordable Care Act, which has made several significant changes to the country’s health insurance industry. The provision instituted by the health care law requires insurance companies to provide coverage for comprehensive preventative services as defined by the Department of Health and Human Services (HHS). These health insurance benefits went into…

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Pet insurance company releases strangest summertime claims info

pet insurance

Pets Best identifies weirdest filings of the season. Every few months, the oddest pet insurance claims are identified by Pets Best, by its president and founder, Dr. Jack Stephens, who is as also a practicing veterinarian. The most recent summertime examples have now been released by the insurer. According to Dr. Stephens, “The accidents and dangers pets encounter never cease to amaze me.” He added that “We want pet owners to remember that as the weather warms and they’re spending more time outside, they should be extra cautious.” The pet…

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Mobile commerce in the insurance industry is about to take off

Mobile Commerce

Ensquared is prepared for an explosion of smartphone adoption and online shopping. Leading smartphone and iPhone insurance authority, Ensquared, has announced the results of its latest customer and industry data analysis and has announced that American mobile commerce will truly be taking off within the upcoming two to five years. As a result, they also say that tablet and cell phone insurance will also skyrocket. Though the United States is never a world leader in terms of mobile commerce and devices, it is about to take on a leadership role…

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Oregon shows insurance agents are vital to state exchange

Auto Insurance survey

Health insurance agents in Oregon needed The state’s Health Insurance Exchange intends to train and utilize insurance agents to assist residents and small businesses that are uninsured to find the right plans by 2014 when the new health care mandate goes into effect. What has still not yet been entirely defined is specifically what role the agents will play and how that will influence consumers who could depend on them for their advice and suggestions. The Oregon Health Insurance Exchange board met last Thursday and, according to Kim Wirtz, an exchange…

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FHA mortgage insurance increases but likely won’t affect the housing market

Mortgage insurance on the rise but will it effect the market? Beginning on April 10, 2012, insurance rates for the federal housing administration (FHA) mortgages have increased from 1 percent to 1.75 percent, which will lead to a slight increase in the amount that home buyers will be paying. This is the fourth FHA borrowers’ increase in the last three years. The change was created to bring in more than a billion dollars to the federal government by September of this year. This will cause some impact on the actual…

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