Report highlights growing cost of employer-sponsored health insurance

health insurance industry employer work

Workers are paying more for their coverage but are receiving fewer benefits The Commonwealth Fund has released a new report that highlights the growing costs of employer-sponsored health insurance in the United States. While the Affordable Care Act has not lead to a significant increase in insurance premiums for many people, it may not be providing much relief to workers. The report from the Commonwealth Fund suggests that insurance premiums for workers are slowly increasing, while the benefits they receive through this coverage are vanishing. Worker contributions are growing throughout…

Read More

Google is stepping into auto insurance sales

google auto insurance industry

The internet giant intends to begin selling policies for vehicle coverage in the United States market. According to a statement recently made by an analyst, Google Inc. has intentions to make its way into the American auto insurance market with a website that will give people across the United States the opportunity to compare policies and buy coverage. This is only the latest step in a broader effort that the company to make its way into the U.S. automotive industry. The internet search giant is going to be creating a…

Read More

New Jersey Turnpike scam makes insurance news when adjuster sentenced

fraud liability insurance news industry

The scandal was worth an estimated $900,000 and the man from Little Falls will go to prison for almost 3 years. An adjuster from Little Falls is making insurance news after having been sentenced to almost three years in jail for having schemed with a New Jersey Turnpike manager to trick insurers and the authority out of an estimated total of approximately $900,000. Back in September, Roberto Napolitano gave a guilty plea for a charge of fraud, and he has now been sentenced. The adjuster in this insurance news case,…

Read More

Insurance industry wins a victory with the renewal of the Terrorism Risk Insurance Act

Insurance industry news Lawsuit

House and Senate vote to renew the Terrorism Risk Insurance Act Both the U.S. House of Representatives and Senate have approved the renewal of the Terrorism Risk Insurance Act. The legislation’s renewal was a fast-tracked through the House, making its way to the Senate, where it received majority support. The legislation is now awaiting President Barack Obama’s signature, which is expected to be given within the coming days. The President’s signature will enact the legislation, reinstituting the federal backstop that the insurance industry has been relying on. Insurers will again…

Read More

Top 2014 cases of insurance fraud identified

insurance fraud

The MPI has now released its list of the largest errors and attempted fraudulent claims from January through December. A new list called the “top five frauds” has now been released by Manitoba Public Insurance (MPI), which shows the leading instances of insurance fraud that occurred within this Canadian province. While interesting and amusing to some, it also places the spotlight on an ongoing problem in the insurance industry. According to the MPI’s data, its own special investigations unit was able to discover approximately $7.5 million in insurance fraud in…

Read More