Annual workers’ compensation insurance filing gets the green light in Kentucky

Workers Compensation Insurance - Green Light - traffic light

The state DOI has announced its approval of the 2021 rate filing used for developing coverage rates. The Kentucky Department of Insurance (DOI) recently announced that it has given the nod to the 2021 rate filing applied to developing state workers compensation insurance coverage rates. The decision became effective with the start of this month. Tis represents the 16th consecutive year that there has been a drop in overall loss costs in Kentucky. For 16 years in a row, the Kentucky workers’ compensation insurance filing has revealed a reduction in…

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Health insurance benefits are keeping a third of workers from quitting

Health insurance benefits

The Policygenius annual survey found a third of employees stay put because of their coverage. In a trend being dubbed the “Great Resignation”, health insurance benefits are holding about one in three workers in their current positions. The coverage is important enough to workers that they stay where they are instead of changing workplaces. The survey showed that 33 percent of full-time and part-time workers would be very or somewhat likely to quit their current jobs soon if it wasn’t for their health insurance benefits. Furthermore, over one quarter (26…

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Kentucky health insurance marketplace brings back individual plans

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State residents seeking plan options will new be able to use the state-based exchange. The Kentucky health insurance exchange has returned to allow residents of the state to be able to purchase individual plans from the state-based marketplace. Governor Andy Beshear returned the exchange to the control of the state itself. The kynect.ky.gov website is currently undergoing a review period meant to allow residents to better understand the coverage options and find the ones best suited to their needs. This way, they will have the opportunity to be ready for…

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Forbes releases its list of the Best Insurance Companies in America for 2022

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Mercury proudly announced that it is among the insurers to be recognized on the list. Forbes has released its list of the Best Insurance Companies in America for 2022, which examined over 4,200 insurers but named only 90 on its list. The list was created based on a partnership between Forbes and Statista. Mercury issued a news release announcing that it had been recognized as one of the Best Insurance Companies for 2022 as named by Forbes. The partnership with Statista examined customer survey results for over 4,200 American insurers…

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Insurance job starting salaries rise as many insurers struggle to fill positions

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Companies are finding it difficult to find enough applicants as they seek to hire in numbers. Insurance job starting salaries are on the way up at a number of insurers, particularly in locations that are proving especially difficult for filling positions. Even as the federal pandemic unemployment benefits have come to an end, insurers are still struggling. To boost appeal to applicants, many insurers have been advertising higher insurance job starting salaries. While some people are viewing this as an opportunity to start a new and rewarding career, others still…

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Michigan Senate adopts Life Insurance Awareness Month resolution

Life Insurance Awareness Month - Michigan Flag

Sponsored by Senator Lana Theis, it recognizes September as a time to learn about the benefits. The Michigan state senate has adopted a Life Insurance Awareness Month resolution sponsored by Senator Lana Theis. The resolution recognizes September as the time for state residents to learn about policies. Michigan’s Senate recognized September as Life Insurance Awareness Month, a time in which residents are encouraged to learn about these policies, their premiums, and the way in which their families may benefit in case the worst should happen. The goal is to help…

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New York state pushes insurance companies to provide faster storm claim response

Insurance companies - Home Insurance Claim

The remnants of Hurricane Ida brought record-breaking rain, flooding large parts of NYC. Insurance companies are braced for a massive wave of claims in New York following record-breaking rains left behind by the remnants of Hurricane Ida. State officials are calling for insurers to step up their processing, to help flood victims to recover more quickly from the damage they suffered. Large areas of New York City were submerged by the massive rainfall that came on fast. The New York State Department of Financial Services, which regulates insurance companies in…

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