Pennsylvania insurance regulators see their rate review authority expanded with new law

The Pennsylvania Insurance Department has had its authority over insurance rates for small employer health care policies expanded this week. On Thursday, Governor Tom Corbett signed Senate Bill 1336 into law, giving regulators the power to adjust the insurance rates in the small group market. For the first time, state insurance regulators will be able to review and disapprove new rate proposals coming from insurers. They will also be able to require insurers to justify their need for a rate increase and demand changes if necessary. Insurance Commissioner Mike Consedine…

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Senator Casey appeals to PA Insurance Commissioner Consedine for better sinkhole damage coverage for homeowners

United States Senator Bob Casey (D-PA), has addressed Insurance Commissioner Michael Consedine, of Pennsylvania, and has asked for assistance for homeowners in covering themselves against the devastation that can be caused by sinkholes. What Senator Casey has called for is the help of the insurance industry to make homeowners more aware of what overage they have to protect them against the cost of sinkhole damages in the event that one should occur. In order to make this request, Senator Casey sent a letter to Commissioner Consedine, which said that all…

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