Four health insurance companies violated mental health coverage law

mental health insurance companies

The state of Oregon has accused four insurers in failing to cover certain treatments including one for autism. The state of Oregon is currently calculating potential fines for four health insurance companies that failed to comply with the law for covering certain mental health treatments, including one for autism. State law requires insurance companies to provide mental and physical coverage in a similar way. The regulation in Oregon states that health insurance companies “cannot categorically deny coverage,” for mental health care and therapies, such as for Applied Behavior Analysis (ABA),…

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Millennial insurance jobs are consistently underestimated despite career potential

millennial insurance jobs

This generation is only just starting to tap into an industry that is open for starting and growing opportunities. Millennial insurance jobs are proving to be among the employment opportunities that have the greatest potential for that generation. They are taking positions from claims adjusters to data scientists and underwriters in which there are massive skill sets to be built. Even more important is that the insurance employment positions are available right now. As a huge wave of baby boomers rapidly retires and as the industry evolves, millennial insurance jobs…

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Allstate Insurance Company recognizes Isaac White for Black History Month campaign

Allstate Insurance Company - White's Barber College Black History Month

The Mobile, Alabama barber will be featured in the insurer’s national African American empowerment campaign. Allstate Insurance Company is holding a national campaign to help empower the African American community throughout February, Black History Month. As a part of this campaign, it is placing the spotlight on a barber from Mobile, Alabama named Isaac White. White is an icon within his community and the insurer is proud to draw attention to his achievements. White is currently 97 years old and he continues to go to work every day. He is…

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Will insurance industry giants continue to be “too big to fail”?

Insurance Industry Giants - Metlife Building New York

A new memo is currently circulating to propose legislation removing that status from massive insurers. Representative Jeb Hensarling (R-Texas) is circulating a memo to remove insurance industry giants from their “too big to fail” designation. The memo stated that proposed legislation would take that status away from even the biggest insurers in the country. The designation was granted to MetLife, AIG and Prudential immediately following the recent financial crisis. A regulatory consortium, the Financial Stability Oversight Council, deemed the insurance industry giants as “systematically important” to the American economy. That…

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Jobs for veterans continue to be plentiful in the insurance industry

Jobs for veterans in the insurance industry

Insurers have long favored vets both as new hires and as a focus of charitable donations. The insurance industry has been in favor of offering jobs for veterans for many years. Various property and casualty insurance companies frequently focus their charitable support efforts on this group, as well. There are many reasons that insurers have opened their doors and their arms to American vets. According to Chubb-owned Combined Insurance’s director of sales training, Glenn Elmore, many insurers feel this is an important group that has earned their support. “I think…

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Great insurance jobs just got easier to find with simple new online feature

great insurance jobs board open

Careers in insurance are taking off, are among the safest occupations in the country and are now easier to find. It is now that much easier to find great insurance jobs through a helpful, easy and free searchable database of positions specific to this industry. The Live Insurance News website launched a nationwide insurance job board to help in the search to find local openings. The insurance job market is exceptionally hot right now and the growth isn’t showing any signs of slowing. In order to streamline and simplify the…

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Allstate Insurance Company launching new underwriting platform

Allstate Insurance Company

The insurer announced the implementation of the platform featuring automated data integration. Allstate Insurance Company has announced its intentions to implement the UnderwritingCenter platform. The platform was created by Myriad Development. The goal is to improve automated data integration while enhancing the quality of risk evaluation. UnderwritingCenter allows Allstate to automate its underwriting decision making processes. At the same time, Allstate Insurance Company can use the underwriting platform to integrate third party data and virtual surveys into the mix. In this way, the insurer hopes to produce greater accuracy in…

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State Farm Insurance rate reductions are inadequate, billions in fines may follow

California State Farm Insurance Rate Notice of Noncompliance

The California Department of Insurance has issued a notice of noncompliance to the insurer. California Insurance Commissioner Dave Jones ordered a State Farm insurance rate reduction in December 2016. The Department of Insurance has now issued a noncompliance notice to the insurer for failing to reduce premiums as mandated. The insurance company was ordered to reduce renters and homeowners insurance rates by an average of 7 percent. This State Farm insurance rate decrease would save consumers $84 million over the span of a year. Moreover, the insurance company was also…

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Will life insurance agents soon need to redefine their jobs?

life insurance agents business planning

If Trump repeals the federal estate tax, higher-end agents may find themselves in wealth management. High-end life insurance agents may have a career shift headed their way if President Elect Donald Trump follows through on the elimination of the federal estate tax. It is still unknown as to whether or not Trump will indeed proceed with that proposal. That said, if he does, it could force agents selling life insurance to high end clients to need to recreate their business models. As of yet, it is unknown as to whether…

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209,000 California insurance jobs could disappear from ACA repeal

california insurance jobs

The state has hired former U.S. Attorney General Eric Holder as outside counsel to overcome this challenge. As the Republican party launches its efforts to deconstruct the Affordable Care Act (ACA), a recent study suggests massive damage to California insurance jobs. In fact, the research indicated that the state could see losses of over 200,000 insurance and health care positions from an ACA repeal. Repealing the federal health care reform could also slash an annual $20.5 billion from the California economy. These forecasts were produced by the UC Berkeley Center…

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