Category: Latest Insurance News Articles

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

Illinois health insurance companies seek to circumvent federal law

Nordstrom
health insurance companies profits

Acts of health insurance providers create drama with state regulators Drama has erupted in the insurance industry in Illinois. The state’s Department of Insurance has taken issue with an action that many of the state’s largest health insurance providers plan to take in order to avoid federal reforms for an entire year. Per the Affordable Care Act, insurers will not be able to charge higher rates for women, those with pre-existing conditions, and other demographics beginning January 1, 2014. In an attempt to sidestep these new regulations, many of the…

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Insurance news made when a settlement was paid entirely in quarters

Julie Campbell
Insurance News payment in quarters

A prominent businessman in Illinois disagreed with the payout from his son’s auto policy and retaliated in a unique way. In retaliation for what an Illinois businessman felt was not a fair outcome in an auto payout following the death of his son, he is making insurance news by paying a portion of the final settlement using thousands upon thousands of pounds of quarters. This, according to one of the attorneys who was involved in the auto payout case. The attorney, Douglas Dorris, provided confirmation that when Roger Herrin came…

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Insurance fraud charges laid against ex-NFLer

H. Cutner
homeowners insurance fraud

Byron Frisch is now one of a group of four people who have been charged with this multimillion dollar scam. When four people were charged with having orchestrated a massive, $50 million insurance scam, it wasn’t long before it was revealed that former NFLer Byron Frisch was among them. The charges allege that the ex defensive lineman and his colleagues had been involved in an extensive wire and mail scam. Byron Frisch was a defensive lineman and he and his alleged partners in this scam have been charged with conspiracy…

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Health insurance exchange in Maryland loses Aetna plans

G. Turner
Maryland Insurance

The giant insurer has announced that it is withdrawing its policies from the state marketplace. Aetna has revealed that it feels that the approved rates in Maryland are not feasible, as it scrutinizes the offerings it has across the rest of the United States, and has now canceled its intentions to sell health insurance within that state’s exchange. The marketplace is slated to open on October 1, 2013 in order to comply with the federal healthcare reforms. The intention to sell health insurance plans as a part of the new…

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Homeowners insurance funds set aside by TD to overcome struggles

Julie Campbell
homeowners insurance

The insurer has put $290 million aside in after tax reserves to help to support its unit following the sudden storm events. Toronto Dominion Bank (TD) has announced that it has decided to put aside $292 million in after tax reserves in order to help to support its struggling business and homeowners insurance business. This underscores the trouble that the unit has seen following a growing number issues regarding litigation and claims. The announcement for supporting its business and homeowners insurance arm comes at a time during which the government…

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