High health care costs still “catastrophic” to millions despite insurance coverage

High health care costs - hospital - money - calculator

High price tags for services and drugs remain a problem, despite widening ACA cover, says study. High health care costs can be detrimentally high for millions of Americans, even when they are already covered by insurance plans, says a new study. The price of medical necessities such as an insulin kit, for example, often make them cost-prohibitive. The study was recently published in JAMA and showed that even with insurance coverage, worries about high health care costs remain in place. Even as the Affordable Care Act (ACA) continues to gain…

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Is vaccine insurance ready to take on upcoming pandemic shipments?

Vaccine insurance - vaccination

Airlines will represent the first step toward ensuring inoculations make their way around the world. As research continues to vaccinate the world against COVID-19, companies are getting closer to finding a potential candidate and vaccine insurance will need to cover various stages of transportation, often starting with the aviation industry. The insurance industry is gearing up for the time when the aviation industry will require coverage. That said, vaccine insurance will require the industry to identify and understand the unique risks that may be created as a result of what…

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Could Tesla car insurance become the largest auto insurer in the US?

Tesla car insurance - Tesla vehicle on road

According to a recent valuation by CEO Elon Musk, the company is headed in that direction. If a recent valuation of the Tesla car insurance offshoot of the electric vehicle company is to be believed, it could eventually become one of the largest auto insurers in the United States. Musk dropped several hints of this nature during a recent quarterly earnings call. Musk discussed the Tesla car insurance unit in terms of comprising a substantial portion of the company’s auto business. “Obviously, insurance is substantial. So, insurance could very well…

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Allstate joins the CDP Supply Chain to advance its sustainability commitments

CDP Supply Chain - Hand holding tree

The insurer joined a select few property and casualty providers in asking more of suppliers. The Allstate Corporation has announced that it has joined the CDP Supply Chain, which means it will be requesting that its key suppliers report their emissions data. This will be one of several steps the insurer is making to boost its supply chain transparency. The emissions data is reported to CDP Supply Chain, which is a global non-profit disclosure system that makes it possible for businesses to manage and measure the impact they have on…

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Governor Kemp’s Georgia health insurance changes get the federal nod

Georgia health insurance - White House

The state will become the first in the country to offer federally subsidized plans only through private brokers. The Georgia health insurance system will make the state the first one in the country to offer its residents fully subsidized plans exclusively through private brokers. This will occur as a result of a new plan under approval by the Trump administration. Another portion of this plan will offer Medicaid to certain adults in the lowest income bracket. This new Georgia health insurance rule will mean that able-bodied adults will have access…

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Pandemic forces Lloyd’s of London insurance contracts into review

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The massive marketplace is re-examining the way coverage products are designed due to COVID-19. Lloyd’s of London has launched a new review of its insurance contracts, taking a new look at the way products are created and sold. The purpose is to develop simpler products in response to the COVID-19 pandemic. Insurers have suffered considerable reputational damage due to the complexity of their products. This complexity in insurance contracts has made it difficult for businesses to understand. The result has been a wave of court cases meant to decide whether…

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Progressive Insurance company ads demonstrates shift from pandemic

Insurance company ads - Mask - Question mark

Companies across many industries have seen their advertising transformed due to the crisis. Advertisers are keeping a close watch on the mood of the country and Progressive insurance company ads are a direct reflection of the shift caused by the pandemic crisis. The insurer, like the other biggest brands across the nation, is seeking the right tone. A number of weeks ago, Progressive Corp’s advertising team got together to develop insurance company ads showing the company’s pitchwoman, Flo, running from a bowling alley to assist someone whose car was damaged…

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