Live Insurance News

Earthquake insurance recommendations issued to California homeowners

September 4, 2015September 2, 2015 Julie Campbell

Officials in the state feel that residents simply are not taking the threat of a quake seriously enough. State officials in California and earthquake insurance companies are working together to help to boost the sense of urgency among the residents, as the vast majority of homeowners do not have any kind of coverage against quake damage. The latest official estimate is that as much as 10 percent of Californian homes have quake insurance. The problem that seems to be holding people back from buying earthquake insurance for their homes is…

Pennsylvania issues warning to the insurance industry

September 4, 2015September 3, 2015 Marc

State has warned insurers not to practice price optimization as it is unfairly discriminatory Pennsylvania has joined seven other states in warning the insurance industry against practicing “price optimization,” a technique that insurers often use to raise premiums for those they deem unlikely to search for better deals. The Consumer Federation of America notes that this practice is unfair and illegal, as it often makes use of socio-economic information that insurers are banned from using to price coverage in some states. The organization suggests that this pricing practice is a…

New health insurance model to be tested in seven states

September 4, 2015September 2, 2015 S.Vagus

CMS announces that a new health insurance model will be tested to reduce the cost of medical care A new health insurance model is set to be tested in the United States, according to an announcement made by the Centers for Medicare & Medicaid Service (CMS). The model was designed to improve medical care while also cutting costs and the concept behind the model was designed over the course of 10 years at the University of Michigan. Called the Medicare Advantage Value-Based Insurance Design Model, the program is meant to…

American Olympians finally have an insurance policy that qualifies

September 3, 2015September 2, 2015 Julie Campbell

insurance policy news olympic hockey NHL

The plan covering the team had not been meeting the standards of the Affordable Care Act. The U.S. Olympians have now finally managed to obtain qualifying health insurance policies, following an agreement between the U.S. Olympic Committee and the government with regards to their coverage status. Until this time, the health plans for the athletes and their dependents was not up to the ACA’s requirements. There are approximately 850 athletes and about 225 dependents that are enrolled in the special health insurance policy plans through the U.S. Olympic Committee (USOC)…

Work group seeks to resolve problems with Alabama’s homeowners insurance market

September 3, 2015September 2, 2015 Nordstrom

Alabama continues to struggle with the impact of Hurricane Katrina Many homeowners in Alabama are still struggling to recover from the impact of Hurricane Katrina, some 10 years after the disaster struck. These consumers are facing higher homeowners insurance premiums, as insurers have had to raise rates in order to recover from financial losses associated with Hurricane Katrina. In order to resolve this issue, a new organization has been formed that will seek out a solution to costly homeowners insurance coverage for those living in coastal communities. New work group…