Connecticut liability insurance makes coverage more expensive for drivers

Connecticut liability insurance

Auto policy premiums rose by an average of 4.1 percent for drivers in the state last year. Connecticut liability insurance is making coverage more expensive for drivers throughout the state, according to data from the Insurance Department. In fact, it is also sending homeowners insurance rates higher, though not by as much. Last year, homeowners insurance rates increased by an average of 2.4 percent in Connecticut. Drivers saw a 4.1 percent rise in their premiums because of the Connecticut liability insurance regulations. The Connecticut Insurance Department is responsible for an…

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Connecticut officials are warning consumers of health insurance scams

Connecticut health Insurance

Insurance Department tells consumers to beware of phone scams The Connecticut Insurance Department is warning consumers to beware of phone scams from those claiming to represent health insurance organizations. These scams have become fairly common during the open enrollment season for insurance exchanges. During these times, many consumers are either looking for new policies or to renew their current health insurance policies that they acquired through exchanges. These consumers are being targeted by scams that seek to profit during the open enrollment period. Phone scams are seeking to exploit consumers…

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Connecticut aims to put price optimization to rest among homeowners insurance companies

Connecticut liability insurance

Homeowners insurance sector is attracting controversy due to the use of price optimization The Connecticut Department of Insurance has begun warning insurance companies against using a controversial pricing method that relies heavily on consumer buying habits. The insurance industry is meant to use actuarial or risk-based principles to price the coverage being provided, but many insurers have been found to be using price optimization, which could be placing consumers under a great degree of financial stress. Such practices have been found in various sectors of the insurance industry and more…

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Insurance industry praises proposed change to Connecticut tax plan

Connecticut Governor Dannel Malloy

Revised tax plan could reduce financial strain on insurance companies Insurance companies in Connecticut are praising a proposed tax change that could result in some financial breathing room. Governor Dannel Malloy and several other lawmakers have proposed a significant change to a tax plan that would have placed the insurance industry under greater financial pressure. The tax plan does not target the industry specifically, but it would have an impact on insurers as the tax plan has to do with data processing. Original tax plan had called for an increase…

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Connecticut families could lose their health insurance coverage

Connecticut health Insurance

Proposed budgets makes cuts to the state’s Medicaid program Proposed cuts to Connecticut’s Medicaid program could mean that many people will lose their health insurance coverage. Governor Dannel Malloy has proposed the state’s budget for 2016-2017, which includes changes to Medicaid’s eligibility. The changes would specifically affect the state’s HUSKY A insurance plan, which covers approximately 34,000 people throughout the state. According to an analysis from the Connecticut Health Foundation, the proposed changes would cause many people to drop their health insurance coverage. Families may lose their Medicaid eligibility due…

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Homeowners insurance in Connecticut may be banned from dog discrimination

Dog liability homeowners insurance

A lawmaker is seeking to make it illegal for insurers to inquire about the breed of a policyholder’s dog. A Connecticut lawmaker is now moving forward in an effort to ban homeowners insurance companies from being able to ask about or discriminate against the breed of a policyholder’s dog, when they are issuing coverage within that state. Republican Rep. Brenda Kupchick is trying to make it easier for certain dog owners to obtain coverage. Kupchick, of Fairfiel, Connecticut, has stated that her constituents have found it challenging to the point…

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Insurance news reveals that Connecticut is losing its industry share

Insurance news jobs

A new analysis has shown that employment recovery has been occurring nationally, but is declining in the state. The results of a recent analysis making insurance news have shown that while the industry is showing employment improvements across the country, Connecticut’s own share has been on its way down. Jobs within the life insurance sector of the industry have been plummeting in the state for 5 years. Traditionally in Connecticut employment market, the financial and insurance sectors have played very important roles. In fact, Hartford is often the center of…

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Health insurance can now be purchased in a retail store

Connecticut health Insurance

Consumers in Connecticut now have two more places in which to purchase coverage before the deadline. With under a week left to purchase health insurance in 2014, in order to comply with the individual mandate of the Affordable Care Act, Connecticut has taken a unique step to help to ensure that its residents have every opportunity to obtain the coverage that they need. There are two retail stores that are allowing people to simply walk in and enroll. Shopping for health insurance has never felt so much like shopping for…

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Connecticut insurance payout timing for Sandy running out

Connecticut Insurance

Fifteen months after the superstorm smashed its way through the area, homeowners are still waiting for their insurers. While Superstorm Sandy may no longer be making the top headlines anymore it doesn’t mean that the Connecticut insurance industry has finished up with all of the claims and payouts that were wrapped into this horrendous natural disaster that ripped across the east coast of the country. Some homeowners insurance customers are still waiting to receive the payouts for their claims. The problem is that time is starting to run out according…

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Connecticut insurance companies required to provide sex change coverage

Connecticut health Insurance

Insurers in the state must also provide their policyholders with treatment and counseling for the procedures. The Connecticut Insurance Department has now issued a directive that states that all insurers within the state must provide their policyholders with coverage for sex change operations, counseling, and treatments. The department recently put out a bulletin to the various carriers throughout the state that indicated this requirement. According to the report, Connecticut insurance companies must all make certain that “individuals with gender dysphoria … are not denied access to medically necessary care because…

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