Auto insurance legislation targeting ride-share companies has failed in Hawaii

rideshare auto Insurance accident crash

New legislation fails to pass committee New legislation in Hawaii that would require drivers working for transportation network companies like Uber and Lyft to have a higher level of auto insurance coverage has been struck down by the House Consumer Protection and Commerce Committee. The legislation would have introduced more regulation to the transportation network company industry, which is growing quite rapidly throughout the United States. Both Uber and Lyft have been targeted by such legislation before, with lawmakers in some states showing concern over potential insurance gaps. Legislation would…

Read More

State-run health insurance exchanges have crippling financial problems

Health Insurance Exchange

States running their own exchanges are having trouble funding themselves State-run health insurance exchanges are having difficulty managing high costs and low enrollment numbers. If such challenges persist, some states may decide to relinquish control of their exchanges to the federal government. Hawaii is one of the states that may soon cede control of its exchange. The state launched its own exchange with the aid of $205 million in federal grants, but it has failed to achieve its enrollment goals. Hawaii’s insurance exchange will rely on HealthCare.gov next year Hawaii’s…

Read More

Traffic violations lead to higher auto insurance premiums

georgia auto insurance news

In some states, premiums grow by a significant margin when drivers are hit with traffic violations Moving violations often lead to increase auto insurance premiums, but in some states, the increase is astronomical. A new report from InsuranceQuotes.com highlights the dramatic increase of auto insurance premiums in some states for those that receive driving under the influence (DUI) charges. On average, consumers can expect to pay 92% more for their coverage when they receive a DUI charge, which is the national basis. In some states, however, costs can shoot up…

Read More

Hawaii residents advised to check their homeowners insurance policies

Hawaii Homeowners Insurance

Insurance Commissioner Ito warns people to check their insurance policies as Tropical Storm Ana approaches the state Tropical Storm Ana is moving closer to Hawaii and the state’s Insurance Commissioner, Gordon Ito, is urging homeowners to check their insurance policies to ensure that they are protected from potential damages. Homeowners insurance is often a complicated matter for consumers, as many believe that their policies protect them from the full gamut of natural disasters they could fall prey to. This is not the case, however, especially when it comes to flood…

Read More

Hawaii’s largest insurers pulls out of health insurance exchange

Hawaii long term care insurance industry

The Hawaii Medical Services Association is abandoning the state’s insurance exchange Hawaii’s largest insurance company has pulled out of the state’s health insurance exchange, Hawaii Health Connector. The insurer, the Hawaii Medical Service Association, opted to pull its small business plans from the exchange late last week. Next year, agents working with small businesses will have only one insurer to work with through the exchange: Kaiser Permanente. The decision is not expected to affect individual health insurance plans in any way and many of the states insurers do not have…

Read More

Hawaii residents encouraged to double check their homeowners insurance policies

Hawaii Homeowners Insurance

Hurricane season is not over yet and powerful storms may be on their way to Hawaii State officials in Hawaii are encouraging homeowners to ensure that their properties are protected against natural disasters. The 2014 Pacific hurricane season is set to end on November 30, and there is still plenty of time for powerful storms to form and make landfall in the state. Severe weather is expected to hit Hawaii in the coming weeks and months and homes that do not have adequate protection could find themselves vulnerable to financial…

Read More

Hawaii health insurance companies win approval for higher rates

Hawaii Health insurance company

Cancelled policies become more expensive in Hawaii Hawaii health insurance officials have approved rate increase proposals from some of the state’s largest insurance providers. The state’s Insurance Division has been investigating rate increase proposals to determine whether they are necessary or not and has seen a need for higher rates as insurers continue to juggle several financial issues. The new rates are primarily for insurance plans that were set to be cancelled due to the provisions of the Affordable Care Act. Several insurers have moved to continue honoring these policies,…

Read More