Many drivers wonder if it’s legal to use their cars without any insurance, and the answer is that it is possible to do so in many states, as long as those drivers also have a very large amount of cash. In Ohio, as long as you carry a form of proof of financial responsibility, you are legally allowed to drive without any car insurance. To do this, you must either make a deposit of at least $30,000 with the state treasurer, or you must purchase a bond worth at least…
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New Hampshire insurance regulators battle with non-profit organization over surplus funds from insurance pools
Insurance regulators in New Hampshire have been clashing with a non-profit organization known as the Local Government Center (LGC). The dispute is centered on how the LGC manages health insurance risk pools for state employees and retirees. The Bureau of Securities Regulation has been investigating the operations of the organization and has released a final report regarding the issue. According to the report, taxpayers may be receiving a big refund from the LGC in the coming months. The report shows that the LGC has merged with several smaller corporations in…
Read MoreFederal regulators step in to take charge of Idaho’s review of insurance rates
A number of private insurance companies in Idaho have submitted rate increase proposals to the state’s Department of Insurance. Normally, the issues would be handled by state regulators, but the federal government will be stepping in to handle the investigation beginning in the fall. This move is inspired by an executive order from Governor C.L. Otter, which has banned the state from adhering to the overarching federal health care law. Otter’s order means that the state is unable to comply with federal regulations regarding insurance rates. Because the state cannot…
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