Biden limits Trump era “junk” short-term health insurance plans

Short-term Health insurance - Reducing health costs - American Flag

The goal is to reduce the sale and use of the plans that can leave policyholders footing huge bills. The Biden administration is working on rolling back the short-term health insurance plans that rolled out during the Trump administration.  The purpose is to shrink the use of these “junk” plans that leave patients at risk of paying large medical bills out of their own pockets. The new rule was first proposed in the summer of 2023 This new strategy is a part of a broader effort to reduce the cost…

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AI is changing the insurance industry, right down to policies

Insurance industry Policies - AI

Insurers are using artificial intelligence in a number of ways to improve offerings Artificial intelligence (AI) has taken steps into many different kinds of business, and the insurance industry is no exception. Technology is helping insurers to better understand consumers The insurance industry is able to glean information about consumers from many different sources. After all, the average American relies on tech in a host of different ways, ranging from social media posts and fitness trackers to smart home devices and telematics dongles installed in vehicles to track driving behaviors.…

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Allstate Insurance Faces Defeat in Court Over Telemarketing Calls

Allstate Insurance - Telemarketers - Law - Defeat

In a consequential ruling that will undoubtedly reverberate through insurance and telemarketing industries, Allstate Insurance has been found in violation of the Telephone Consumer Protection Act (TCPA) in a complex network of agencies and subagencies that ultimately led to unsolicited marketing calls being made to consumers. The case, titled Hossfield v. Allstate, 2024 WL 1328651, was decided on March 28, 2024, by the Northern District of Illinois court. Overview of the Judgment With an intricate chain of lead generation and marketing agencies involved, Allstate faced accusations stemming from actions unwittingly…

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New National Association of Insurance Commissioners CEO is Gary Anderson

National Association of Insurance Commissioners - New CEO

NAIC has announced that its new chief executive officer has now been named The National Association of Insurance Commissioners recently announced that they have appointed a new CEO.  The appointment went to Gary Anderson, the current Massachusetts Insurance Commissioner and veteran of the industry. Anderson will start at his new position on May 1, 2024 The start date for Anderson as CEO of the National Association of Insurance Commissioners will be May 1, giving him enough time to finish his service as the Massachusetts Insurance Commissioner. This will have him…

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Mercury Insurance company awarded top spot as inclusive employer

Insurance company - Inclusivity at the workplace

Newsweek has named the insurer on its 2024 America’s Greatest Workplaces for Diversity list Newsweek has named the Mercury Insurance company as one of America’s Greatest Workplaces for Diversity for 2024.  Newsweek and partner Plant-A Insights, a market data research firm used their own selection methodology to choose the top businesses. Several criteria were considered for the awarding of the title Before the title was awarded to Mercury Insurance company, the employers being considered were judged based on their growth opportunities, competitive salaries and other factors, when compared with other…

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