Could health insurance discrimination result from DNA data collection?

health insurance discrimination dna genetic testing

In all but one G7 country, there are laws to protect people from losing rights based on their genetics. There is a rising belief among geneticists that the completion of genome sequencing would cause people to discover things about themselves that they don’t want to know, but many don’t realize that health insurance discrimination could also result from this type of test. These tests produce a detailed analysis of a person’s complete genetic code and they are not expensive to obtain. Naturally, DNA tests will not guarantee that a person…

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UK insurance industry may be faced with higher claims due to legal reform

Insurance Industry News

Law Commission proposes changes to 1906 law United Kingdom insurers may be faced with higher claims due to a legal reform coming from Britain’s Law Commission. The commission has announced that a 1906 law which deemed a company’s insurance coverage invalid if they did not voluntarily offer up information when taking out new policies has had unintended side effects in the insurance industry. According to the Law Commission, the law enabled insurance companies to avoid playing claims due to technicalities, a problem that may be changed with upcoming reform. Insurance…

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Connecticut laws provide insurance regulators with more authority

Connecticut health Insurance

Two laws win the favor of state’s Insurance Commissioner Two new laws have successfully passed the Connecticut Legislature, winning praise from the state’s Insurance Commissioner, Thomas Leonardi. Two legislations, which were signed into law by Governor Dannel Malloy this week, aim to bring more oversight to global insurance companies that operate in the U.S. and overseas. The laws are also meant to make Connecticut a more attractive venue for international reinsurance companies who wish to do business in the U.S. Commissioner Leonardi believes that the new laws signal major progress…

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Legislation seeks to put an end to clawback insurance

aetna faces insurance fine

New bill could prevent insurers from providing protection against clawbacks Financial firms may no longer be able to purchase insurance policies that provide them with protections against civil penalties or compensation clawbacks  if a new legislation introduced by Representative Barney Frank is successful. Clawbacks have become a somewhat popular form of censure for executives looking to reclaim compensation from one another. This practice can sometimes be damaging to an individual’s finances, a possibility that has spawned its own form of insurance coverage. Representative Barney Frank believes that clawbacks are an…

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Missouri Department of Insurance releases report concerning 2011 natural disasters

The Missouri Department of Insurance has released its annual report for the year of 2011. The report notes that the state experienced many “firsts” in the U.S. insurance industry last year, many of which were brought about by calamitous natural disasters. These firsts included record breaking numbers of claims, the highest claims payouts in U.S history, and the largest amounts of claims funds recovered by Missouri insurance regulators. The Department of Insurance notes that, despite massive challenges, it was able to complete its mission of protecting Missouri residents throughout 2011.…

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Alaska lawmakers pass autism health insurance bill for children

Health Autism Insurance

Health insurance news update for Alaska The Alaska Legislature has passed a new bill that aims to expand the health insurance coverage for children to include treatment for autism. The bill, SB 74, was passed in the House on Sunday with a vote of 36-6. The legislation is designed to provide children who suffer from autism insurance coverage for treatments regarding their specific case. These treatments can include a wide range of speech and physical therapies. Alaska is not the first state to begin adopting such a law – 34…

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Uninsured vehicles now considered a criminal act in U.K.

Changes to the United Kingdom’s car insurance laws are coming and Swinton Insurance, one of the largest car insurers in the country, is warning motorist to take heed. Next month, it will be illegal to own an uninsured vehicle. Swinton has taken it upon themselves to caution both policyholders and the general public of the new law in the hopes that they will take necessary measures to protect themselves accordingly. The current laws in the UK forbid motorists from driving uninsured vehicles, but the new law asserts that the simple…

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