National Preparedness Month underway amidst hurricanes, wildfires and earthquakes

National Preparedness Month - Emergency Response

Community leaders, scientists and the insurance industry are hoping people will inform themselves about being prepared. National Preparedness Month is more than halfway through and it feels as though Mother Nature is reminding us of its importance. Traditionally, the insurance industry, scientists and community leaders try to convince people of the importance of being prepared. This year, the news headlines of regularly occurring natural disasters seems to be doing the job. The entire point to National Preparedness Month is to learn about the types of emergencies that could happen within…

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Hurricane Irma may force Florida’s private flood insurance market to prove its mettle

hurricane irma - florida private flood insurance market

Residents of the state are preparing to protect their properties and loved ones against the approaching storm. As Hurricane Irma makes its way through the Caribbean and ever closer to Florida, the insurance industry is bracing itself. This is particularly true of the private flood insurance market in the state. Advocates say Florida’s market is a solid model for making federal flood insurance coverage more affordable. Should Hurricane Irma make landfall in Florida, as the hopes and prayers go out to residents for their safety and to avoid damage to…

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HIV status of thousands of Aetna insurance customers exposed through mail

aetna insurance customers envelope window

The use of clear windows on envelopes allowed private medical information to be revealed. Thousands of Aetna insurance customers suffered an accidental disclosure of their HIV status. What was essentially a stationary error caused the private medical data of 12,000 policyholders to be openly visible in the mail. The insurance company issued letters to certain clients, in envelopes with clear plastic windows. The envelopes with plastic windows are commonly used by many companies to allow the recipient’s name and address to show through. That way, the mailing information printed on…

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Can a pharmacy drug benefits company play a role in beating the opioid crisis?

Zemanta prescription opioid drug benefits insurance

A major U.S. pharmacy benefit manager placed a limit on pain pills in the hopes of reducing the risk of their abuse. Express Scripts, the largest pharmacy drug benefits manager in the United States, created a new program to limit prescriptions for new opioid patients. This program will launch across the entire country as of September 1, 2017. The opioid drug limitations will target new patients and will not apply to cancer patients or those in hospice care. According to Express Scripts, the time has come to take a bold…

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Life insurance medical exam may soon be a thing of the past

Life Insurance medical exam

Technology and data services may soon provide an accurate and cost-effective replacement to health tests. A life insurance medical exam is often one of the most dreaded parts of applying for that type of coverage. That said, as systems and data continue to improve, this requirement may not be needed for much longer. This could mean that the added need for blood and urine samples, weigh-ins and blood pressure checks may stop. The reason is that the information obtained through a life insurance medical exam may be replaced by technology…

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Kanye West insurance lawsuit worth $10 million following tour cancellation

kanye west insurance

The performer filed the suit against a number of Lloyd’s of London syndicates, alleging lack of payment. The Kanye West insurance lawsuit has hit the news headlines as the celebrity claims his insurers aren’t paying his due amount following the cancellation of his performance tour. The entertainer suddenly halted a number of performance dates on his Saint Pablo Tour. Officially, the Kanye West insurance claims were filed through the performer’s Very Good Touring, Inc. company. He now alleges that the insurance companies have failed to pay out on the claims…

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Minnesota auto insurance company to refund $315,000 to over 1,600 drivers

Minnesota auto insurance company rates

Farmers Insurance Exchange has been accused of unfair pricing practices and is reimbursing affected policyholders. Minnesota auto insurance company, Farmers Insurance Exchange, is responding to accusations of unfair pricing practices with a refund to more than 1,600 drivers in the state. The policyholders affected by the pricing practices in question will be receiving a portion of a $315,000 total amount. The insurer is providing the refunds in response to an investigation into the way it was setting its rates. The Minnesota auto insurance provider underwent a pricing practice examination. The…

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Insurance survey shows Americans receiving more opioid prescriptions than ever

opioid addiction insurance survey

The research shows 1 in 5 people received an opioid painkiller prescription at least once in 2015 alone. A new insurance survey conducted by Blue Cross and Blue Shield revealed that over one in five Americans were prescribed opioid painkillers at least one time in 2015. This was based on claims data from policyholders covered by that insurer. Moreover, opioid addiction and dependence claims have skyrocketed by 500 percent from 2010 to 2016. The report on the insurance survey involved data based on coverage for 30 million people across the…

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London tower block fire wasn’t without warning from the insurance industry

Grenfell London tower block fire

The Grenfell Tower building was completely destroyed in a massive blaze, killing at least 79 people. The London tower block fire that led to the death of at least 79 people and injured many others did not occur without warning. The insurance industry in the United Kingdom had previously warned the British government that the external surfaces like the one on Grenfell Tower and several other buildings are flammable and dangerous. The insurance industry’s warning was issued a month before the killer blaze that shook the city and shocked the…

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Tropical Storm Cindy provides this year’s flood insurance reality check to homeowners

Tropical Storm Cindy flood insurance

Property owners who didn’t heed warnings at the start of the hurricane season are thinking again. From the point that Tropical Storm Cindy received its name, it was already too late for homeowners to buy flood insurance for coverage against any damage it may cause. This was the warning government officials issued at the start of the hurricane season, but the message always reaches too few. The severe weather is expected to bring a foot of water, along with high winds, to Louisiana and Texas. Tropical Storm Cindy brought several…

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