Insurance jobs for IT sector maintains positive outlook

Insurance Jobs

Those looking for employment in insurance technology should see improved hiring. According to the 2012 Information Week U.S. IT Salary Survey, as the global and American economy continues its stunted upward growth, the outlook for staffing and salary in the area of insurance technology is looking quite healthy. In 2011, the recovery of the economy put a number of new insurance jobs out there. Insurers increased their tech budgets and brought their bigger projects forward from the back burner, where they had been left since the financial industry took its…

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Towers Watson research indicates life insurance companies suffering from low interest rates

Life Insurance

The current economic environment is causing significant strain on the books of insurers. Data from Towers Watson is showing that as the American interest rates have reached the lowest points that have been seen since the years following World War II, North American life insurance company CFOs – especially those that have the greatest exposure level to products with a fixed rate – are finding that this environment is weighing heavily on their finances. The Life Insurance CFO Survey: Low Interest Rate Environment report was just released by the research…

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Blue Shield in Washington state to increase health insurance rates

Health Insurance News

Premiums to rise by an average of nearly 15 percent for families and individuals. The Blue Shield health insurance entity has asked permission to raise its rates in Washington state by nearly 15 percent starting at the end of October. The state Commissioner has now been asked for permission to boost rates on October 31 by an average of 14.7 percent. In its proposal, it has claimed that these new boosted rates would be maintained until 2013 is complete. It justifies its request by saying that the additional funds are required…

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Health insurance rebates come in at $1.1 billion for consumers this summer

Disability Insurance News

Rebates generated by medical loss ratio provision The Department of Health and Human Services (HHS) has announced that U.S. health insurance consumers are due to receive significant rebates in the coming months. The agency claims that millions of people throughout the country are eligible to receive $1.1 billion in health insurance rebates this year. The rebates are linked to the failure of several insurance companies who were unable to meet a federal standard imposed by the Affordable Care Act. The standard is often referred to as the medical loss ratio.…

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Health insurance exchanges may be possible if Affordable Care Act is struck down

Health insurance deadline

Court moves ruling to last week of June The U.S. Supreme Court has determined that a judgment on the constitutionality of the Affordable Care Act will be delayed until at least next week. The Court had been expected to issue a ruling on the matter Thursday, but no announcements were made. Instead, the Court has determined that a ruling on the controversial issue can be expected in the last week of June. There is concern that delays could cause more trouble in the insurance industry, especially if some provisions of…

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Health insurance industry shows improved claims processing capabilities

Health Care Reform

Report targets the health insurance industry The American Medical Association (AMA) has released its fifth annual National Health Insurer Report Card. The report aims to rank the country’s health insurance companies based on their ability to serve customers and provides ratings based on issues such as transparency and business practices. According to this year’s report, the health insurance industry has made radical improvements to its operations. The report details these improvements and how they may be affecting consumers and highlights an issue that has garnered a great deal of interest…

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California auto insurance companies join with Commissioner to improve teen driving safety

Teen Driving

teenSMART makers working to improve the 100 deadliest days for adolescent motorists Commissioner Dave Jones held a press conference regarding California auto insurance safety for young motorists, in conjunction with industry leaders and experts to help to try to encourage safer driving practices during the 100 Deadliest Days for Teen Drivers, which starts before the beginning of summer. Jones was joined by the CEO of ADEPT Driver (maker of teenSMART), Dr. Richard Harkness, AAA Insurance, and retired CHP officer, Bryan Lilly, who has teenaged children. They worked together to try…

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