NFL reaches concussion settlement with its insurance company

concussion settlement - NFL players - Football

Many of the league’s insurers have been battling the requirement to pay players with such injuries. The N.F.L. has reached a concussion settlement following a lengthy battle regarding payments to players who have been injured. Insurers have been resisting payments to concussed players because they say the league had not adequately disclosed the game’s dangers to its players. The battle over the concussion insurance payments has stretched out for seven years. The concussion settlement brings this fight to an end. Insurance companies had been refusing to pay their portion of…

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Percentage of Americans Covered by Health Insurance Plans Fell in 2018

Americans Covered by Health Insurance Plans Percentage Decline

This represents the first time coverage levels have fallen since the Affordable Care Act went into effect. For the first time since 2009 – the year before the Affordable Care Act was implemented – the percentage of Americans with health insurance plans fell last year. Until 2018, the share of U.S. residents with health insurance had risen each year since 2010. The drop in the share of Americans covered by health insurance plans has occurred regardless of the strength of the economy. Therefore, it was speculated in a New York…

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US Health insurance rebates may reach record levels in 2019

Health insurance rebates - us dollar - pills

A new report has indicated that the Affordable Care Act refunds could hit $1.4 billion this year. The provision of the Affordable Care Act (Obamacare) which provides millions of Americans with health insurance rebates is expected to reach a record high level this year. Health insurance customers may be receiving more in refunds this year than ever before. In 2012, a component of the Affordable Care Act went into effect which required insurers to pay their customers a medical loss ratio (MLR) payment every fall under certain circumstances. If those…

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Allstate and Kirk Herbstreit announce partnership for the college football season

Kirk Herbstreit Patnership - Image of College Football

Together, they will predict weekly moments of mayhem throughout the entire season. Allstate recently announced that it will once again join forces with Kirk Herbstreit, ESPN college football analyst. Together they will celebrate the sport’s mayhem through weekly moment predictions of how the season will play out. Fans are encouraged to share their thoughts on Twitter about their teams’ game chances. Kirk Herbstreit will lead the experience in choosing his Allstate Mayhem Moment each week. Those will be the moment he believes will alter a game’s trajectory. He’ll make his…

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Distributed ledger technology apps and blockchain could offer insurance industry savings

Distributed ledger technology - Blockchain technology

A recent study showed that this approach could save the industry millions of dollars per year. New research examined the way a consortium-based blockchain approach using distributed ledger technology (D.L.T.) applications could save the insurance industry millions every year. The analysis was conducted by the Institutes RiskStream Collaborative. The Institutes RiskStream Collaborative analysis examined the way taking a consortium-based approach to blockchain and distributed ledger technology could help two events in common within the property and casualty insurance sector. Those events are: first notice of loss following an incident and…

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NRA under investigation in New York for illegal gun insurance kickbacks

Illegal gun insurance - gun

The state regulator is looking into the National Rifle Association’s role in selling banned coverage products. The New York Department of Financial Services is currently investigating the NRA for allegedly taking illegal gun insurance kickbacks in the state. The investigation is examining the National Rifle Association’s role in the sale of banned coverage products to firearm owners. The NRA allegedly took in at least $14 million in illegal kickbacks in the state. The state regulator’s investigation is one component of a broader effort that launched in 2018. It is the…

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Traditional long term care insurance policy sales maintain downward slope

Traditional long term care insurance - Hand over senior citizens

Data shows that Americans are buying fewer LTC policies year over year. Americans are no longer purchasing traditional long term care insurance at the same rate they used to. In 2018, they bought only about 60,000 stand-alone policies in that category. That represents a drop of 13 percent year over year. Falling sales mean fewer insurance companies are participating in this coverage sector. Only about 15 carriers actively sold traditional long term care insurance policies last year. Moreover, among them, five took in over three quarters of the entire market,…

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