Georgia insurance commissioner indicted in alleged $2 million fraud case

Georgia Insurance Commissioner - Dangling money

The U.S. attorney’s office described the case and the allegations against Jim Beck. Earlier this week, the United States attorney’s office laid out what it called a $2 million fraud case which involves Georgia Insurance Commissioner Jim Beck. The commissioner’s attorney entered into negotiations regarding when and how Beck would turn himself in. The Georgia insurance commissioner is the target of a 38 count indictment. It accuses Beck of widespread fraud regarding work he did for the Georgia Underwriting Association (G.U.A.). The alleged fraudulent activities all occurred before Beck was…

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NC insurance commissioner bans move-ins in unsafe university residence

NC Insurance Commissioner - Uniersity - Residences

The newly constructed University of North Carolina at Asheville residence halls were found unsafe. The NC insurance commissioner has banned students from being able to move into their residences at the University of North Carolina Asheville. Five newly constructed residence halls are deemed unsafe. The buildings were found to have issues that could pose safety and life concerns to residents. “As insurance commissioner, safety is my top priority,” said NC insurance commissioner Mike Causey. “I will not allow anyone to live in a building that may pose a threat to…

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Iowa insurance commissioner cautions against cryptocurrency investments

bitcoin theft insurance cryptocurrency

Bitcoin and other cryptos have seen hot headlines but many think they’re in a bubble that will burst. Iowa Insurance Commissioner Doug Ommen issued a consumer bulletin warning state residents against investing into cryptocurrencies such as Bitcoin unless they understand the risks. The insurance commissioner pointed out that there is a meaningful difference between IPOs and ICOs. According to the Iowa insurance commissioner, people need to know the risks associated with investments into cryptocurrencies before putting money into them. This is a very new market and concept. They are not…

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North Carolina homeowners insurance rate hike paused for now

Releigh, Capital of North Carolina homeowners insurance rates

The NC insurance commissioner declined the price increase for the moment, but the halt is temporary. A recent request for a North Carolina homeowners insurance rate hike has been declined. This saves state residents from having to pay an average of 18.7 percent more for their home coverage. That said, the reprieve from the increased prices is only a temporary one as the rates will eventually rise. In the state, its commissioner must approve any North Carolina homeowners insurance rate changes. Though the industry requested the rate hike, it was…

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Colorado insurance commissioner points finger at Trump administration for massive rate hikes

denver colorado health insurance

Marguerite Salazar says that uncertainty generated by the president led to the 27 percent rate hike requests. Colorado Insurance Commissioner Marguerite Salazar’s department received requests for 27 percent rate hikes in the individual market and 7.3 percent for small group. The commissioner is not happy and blames the Trump administration for the uncertainty they’ve created within the market. Salazar said the games played by the Trump administration have caused the health insurance market to become unstable. The result of these actions, said the Colorado insurance commissioner, was huge 2018 rate…

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Virginia Insurance Commissioner Jacqueline K. Cunningham to retire this year

portsmouth virginia health insurance commissioner

After three decades serving at the Bureau of Insurance, Cunningham announced her retirement. Jacqueline K. Cunningham, Virginia insurance commissioner, announced her intention to retire at the end of the year. She has been working with the State Corporation Commission’s Bureau of Insurance for a total of thirty years. Cunningham was first appointed to the Virginia Commission as insurance commissioner in 2011. She began her post as the thirteenth Virginia insurance commissioner on January 1, 2011. That said, she was first hired by the Bureau of Insurance in 1981. Her first…

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California insurance commissioner candidates take aim at Trump in campaigns

Sen Ricardo Lara California Insurance Commissioner

In the race for the top spot in the state’s Insurance Department, the president has become a political target. The race for the 2018 California insurance commissioner position is heating up and President Trump has become one of the central campaign political targets. State Senator Ricardo Lara (D-Bell Gardens) has placed the spotlight on Trump and his policies. Lara placed the focus of his first ad running for California insurance commissioner on a depiction of Trump as being anti-female, anti-immigration, anti-healthcare and a denier of climate change. He called for…

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