Category: Latest Insurance News Articles

The latest headlines, on all lines of insurance, will be updated and listed here.

Health insurance plan in Florida may be set aside, for now

S.Vagus
health insurance exchange

State may not be able to support the expansion of its Medicaid program at this time Plans to expand Florida’s Medicaid program may be stalling as the state’s governor, Rick Scott, withdraws his support for such an initiative. Governor Scott had been a supporter of the concept of expanding Medicaid for some time, suggesting changes to the state budget in order to accommodate the initiative. Expanding Medicaid would have brought federal funds to the state, which would have helped cover the cost of the expansion and make health insurance coverage…

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California Insurance rates from Allstate cause Commissioner and consumer advocate divide

Julie Campbell
allstate homeowners home insurance rates

Though Dave Jones and Harvey Rosenfield have traditionally collaborated, a recent issue has led to a split. The California Insurance Commissioner, Dave Jones, and advocate from Consumer Watchdog, Harvey Rosenfield, have traditionally held very similar beliefs when it came to the industry and its insurance rates. That said, this trend appears to have changed when it comes to the rates being charged by Allstate. Rosenfield, who hails from Santa Monica, was the author of Proposition 103, a ballot measure from 1988, which converted the position of insurance commissioner in the…

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Driverless cars may be a problem for the auto insurance industry

Marc
auto insurance car transportation hybrid

Self-driving vehicles need legislative attention Driverless vehicles could be a disruptor for the auto insurance market, but they will have to overcome several legislative hurdles before they can do so. When it comes to the law, self-driving cars become a very complicated matter. For instance, when such a car is involved in a collision, where the blame can be placed for the incident can be difficult to determine. This is something that auto insurance companies and lawmakers are grappling with. Insurers are forming a better understanding of self-driving cars and…

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Cyber insurance is lacking

S.Vagus
cyber insurance theft biometrics

AIG CEO expresses concern that cyber insurance capacity is falling short Cyber insurance capacity may be seriously lacking, according to American International Group CEO Peter Hancock. Digital threats are becoming more prominent with every passing year. Hackers and malicious groups are beginning to target large companies that have access to valuable consumer information. This information can be stolen and exploited for various types of benefits, leaving consumers to deal with the financial fallout associated with data breach and identity theft. Cyber protection remains somewhat rare, but the market is growing…

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AIG CEO says that cyber insurance has a “very small” capacity

Julie Campbell
cyber insurance agent

Peter D. Hancock recently spoke, saying that this coverage is lagging behind what other forms of protection offer. The chief executive officer of American International Group, Peter D. Hancock, has stated that when it comes to cyber insurance, the coverage has fallen behind the type of protection that is available through other types of policy. Hancock expressed his opinions about this coverage against cyberattacks while speaking at a recent event. While talking at New York University, Hancock expressed that “The largest coverage I’m aware of is for a bank that…

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