New York insurance regulators are pressuring Citigroup to comply with a subpoena regarding investigations into force-placed insurance. Force-placed insurance has long been a source of controversy. These policies require homeowners to purchase coverage that is much more expensive than conventional policies. This is often done for the sake of lenders who hold sway with insurance companies and the tactic is used to secure returns on these investments. The New York Department of Financial Services has been investigating a number of insurance companies and financial institutions that may have been conducting…
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Anthem Blue Cross faces lawsuit over size of deductibles for health insurance
Consumer Watchdog has filed a lawsuit against Anthem Blue Cross, claiming that the insurer is using “bait and switch” tactics to increase the out-of-pocket expenses and deductibles which must be paid by some of their consumers. This is the second time in a period of eight months that the largest for-profit insurance company in California has faced a lawsuit over claims that its contracts with customers had been breached by mid-year deductible increases. In this most recent case, Consumer Watchdog alleges that over 100,000 policyholders have experienced a misrepresentation of…
Read MoreACLU files lawsuit over law banning insurance coverage for abortions
According to the ACLU, a Kansas law that bans health insurers from being able to provide coverage for an abortion is unconstitutional. In Federal Court, the ACLU stated that this law prohibits women from receiving coverage even if the fetus has miscarried and “has no chance of survival.” They added that the only reason that the law is in place is to make it harder for women to be able to have and afford abortion care. House Bill 2075 was signed into law on May 25, 2011 by Republican Governor…
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