Legislation in New York secures health insurance access for pregnant women

pregnant mothers women health care

Governor signs bill allowing pregnant women to enroll for coverage through state’s exchange New legislation signed by New York Governor Andrew Cuomo will ensure that pregnant women will be able to enroll in the state’s health insurance exchange whenever they please. Originally, pregnant women would have to wait for the exchange’s open enrollment period in order to find coverage. Those with qualifying life events can enroll for coverage whenever they want, but the state did not consider pregnancy to be such an event until the new legislation was signed into…

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New York health insurance exchanges has more than 2 million people enrolled

New York Health Insurance

State’s insurance exchange manages to reach a new milestone this year New York’s health insurance exchange has reached a new milestone. According to officials with the New York State of Health, which is the state’s exchange marketplace, some 2,004,827 people have enrolled for health insurance coverage. Exchange officials note that 89% of those signing up for insurance through the exchange had no previous coverage. Governor Andrew Cuomo suggests that this is a major step forward in the state’s continued efforts to make health insurance coverage more available. Many people enrolling…

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New York law helps ensure the longevity of life insurance benefits

life insurance agent policy

Governor Cuomo signs legislation focused on life insurance coverage into law A new law in New York will ensure that consumers will get to keep their life insurance policies if their issuing insurer goes out of business. The legislation was signed into law by Governor Andrew Cuomo, who believes that the law is necessary to ensure that consumers retain the coverage that they rely on. Typically, if an insurance company goes out of business, the policies it was responsible for become void, unless they are purchased by another insurance provider.…

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Health insurance rates in New York drop by 50%

Health insurance rates

Health insurance premiums are plummeting in New York Health insurance rates are rising throughout the U.S. as insurers prepare to comply with the various regulations being introduced with the Affordable Care Act. These regulations are placing more stringent requirements on insurers, effectively raising the costs associated with administration and general business while also lowering their ability to generate profit. In New York, however, health insurance rates for individuals could plummet due to the state’s health insurance exchange program. Officials approve 17 affordable plans from insurers New York officials have approved…

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Disability insurance refunds coming to New York

Disability Insurance

New York acquires refunds for disability insurance policies New York Governor Andrew Cuomo has announced that Zurich American, a leading insurance firm, will be providing refunds to disability insurance policyholders throughout the state. The refunds come due to Zurich running afoul of a state regulation that requires the insurer to pay no less than 60% of the premiums it collects on claims. Zurich was unable to meet this standard and will begin issuing refunds on disability insurance policies over the next month or so. Refunds signify strong regulatory action Governor…

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New York regulators take strong action on homeowners insurance claims

Homeowners Insurance

Homeowners insurance claims targeted by state regulators Regulators in New York are pressing hard against the insurance industry in the wake of Hurricane Sandy. The storm caused havoc throughout the state, leaving many properties damaged by widespread floods and strong winds. In the months that followed, victims of Hurricane Sandy struggled with their homeowners insurance providers in order to get their claims processed and receive the money they need to recover. Insurers, however, have been sluggish in handling these claims, leading state regulators to take more action for the sake…

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Homeowners insurance payments in New York finally get approval

New York homeowners insurance payments

Homeowners insurance continues to be a problem after Hurricane Sandy For the past several months, New York residents have been struggling to recover from the impact of Hurricane Sandy. Though the hurricane struck the state in late October 2012, the damage it has caused continues to linger due to the lack of funds needed for the recovery effort. Some victims of the powerful storm have seen their claims denied by their insurance companies, but the vast majority have experienced delays in their homeowners insurance payments; delays that have slowed recovery…

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Lenders ease their grip on claims funds for Hurricane Sandy relief

Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy claims payouts to be freed due to agreement with Department of Financial Services Eleven of New York’s major lending companies have reached an agreement with the state’s Department of Financial Services. The agreement involved expediting the claims payouts that are due to homeowners that have been affected by Hurricane Sandy. Many of these homeowners are waiting on their claims payouts in order to begin the recovery process, but insurance companies have been issuing payouts at a sluggish pace for some time. The state government is keen to increase…

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Hurricane Sandy sparks aggressive support from New York officials

Homeowners flood Insurance

New York officials mobilize to help victims in wake of Hurricane Sandy Homeowners in New York are still reeling in the wake of Hurricane Sandy, which struck the state and its neighbors in late October. The storm proved to overcome expectations of its strengths and caused havoc throughout the state, generating widespread floods and claiming 131 lives in the U.S. Insurers are still evaluating the damage caused by the storm, but estimates concerning Hurricane Sandy’s impact suggest that the storm caused some $50 billion in damages. Staten Island residents find…

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Senator Schumer takes aim at insurers in wake of Hurricane Sandy

Senator Schumer hurricane sandy

Senator Schumer troubled over actions of insurance companies Hurricane Sandy has caused a lot of trouble for insurance companies, consumers, and state governments in the Eastern U.S. New York, in particular, has seen a great deal of these troubles manifest in the wake of the powerful storm. With storm surges causing widespread flooding and damages being done to homes and other properties, the state is reeling from the impact of Hurricane Sandy. Senator Charles Schumer believes that the troubles are just beginning for the state, however, especially as insurers look…

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