Iowa insurance commissioner cautions against cryptocurrency investments

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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

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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

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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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New Kentucky Insurance Commissioner steps up to head her department

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Nancy G. Atkins has been the deputy commissioner and has now been appointed to the top spot. The new Kentucky Insurance Commissioner has now been named as former Deputy Commissioner Nancy G. Atkins was appointed to the position. Atkins is now heading the state’s Insurance Department, where she already has extensive experience. The latest Kentucky Insurance Commissioner is no new entry to the industry or the types of duties she has taken on as her own. Atkins has been working within the insurance industry for 33 years. She has worked…

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Will the California insurance commissioner be state Sen. Ricardo Lara in 2018?

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Lara announced that he will be running for the position next year on the heels of a state health care system proposal. Senator Ricardo Lara (D-Bell Gardens) announced his intention to run for California insurance commissioner in 2018. This, only one month after submitting a proposal for a single-payer state health care system. This makes Lara one of four Democrats who have filed the documents necessary to start fundraising. These papers make it possible for possible California insurance commissioner candidates to begin fundraising for their campaigns. Lara’s announcement came with…

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Pennsylvania insurance commissioner promotes education about annuities

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Teresa Miller spoke at the Foxdale Village Retirement Community, urging people to understand their finances. Pennsylvania Insurance Commissioner Teresa Miller spoke to seniors at the Foxdale Village Retirement Community located in State College. Miller focused on the importance for consumers, especially seniors, to take the time to understand annuities. She said this was vital to enabling them to protect their retirement incomes. The insurance commissioner spoke about how people should be educating themselves about this important point. “Annuities are designed as long term investments to provide income over a period…

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Zenefits under investigation by California insurance regulators

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The software company has now had its business practices called into question and officials will be examining them. Zenefits, a software company, is now facing an investigation by California insurance department officials, as the firm’s business practices have been called into question. The California Department of Insurance released a statement with regards to the investigation that launched last year. While the California insurance officials have only just recently announced that they are looking into Zenefits and the way it conducts its business, it also stated that its efforts started back…

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Nevada insurance commissioner resigns, effective July 2

Nevada health insurance commissioner State Legislature Building

The state’s chief regulator, Scott Kipper did not give any reason for his choice to step down from his position. At the end of last week, the Nevada insurance commissioner, Scott Kipper announced that he has resigned and that this will become effective in less than a month, as of July 2. He made the announcement quite recently at the same time that he praised his division’s achievements. He expressed that “It has been an honor to have served the state of Nevada as commissioner.” As he resigned as Nevada…

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