Live Insurance News

Health insurance premiums set to rise in South Carolina

December 14, 2015December 12, 2015 S.Vagus

Thousands of consumers will be affected by higher health insurance premiums Several thousand consumers in South Carolina are likely to see their health insurance premium increase in 2016. The majority of rate increases are expected to be seen by those enrolling in the state’s insurance exchange, where insurers are looking to recover from financial losses by raising premiums. In some cases, consumers may be paying hundreds of dollars more for their health insurance policies. This may place many people under a great deal of financial pressure, which may drive some…

Homeowners insurance providers face serious challenges in South Carolina

October 9, 2015October 7, 2015 Marc

Hurricane Joaquin has become one of the worst disasters South Carolina has ever seen Hurricane Joaquin is making its way to the United States, and this has raised some concerns among homeowners insurance providers, especially in South Carolina. The powerful storm has already brought about significant damage to the state though it has yet to make landfall. According to Governor Nikki Haley, the heavy rainfall caused by the storm is considered a “thousand-year” event. Insurers have issued concerns regarding such events, with some suggesting that these rare catastrophes may soon…

South Carolina floods could hit the state’s homeowners insurance providers

October 8, 2015October 7, 2015 Logan B.

State’s insurance industry to take a financial blow due to heavy rainfall and rising waters Insurers in South Carolina are bracing for the impact of flood-related claims as the state becomes inundated with heavy rainfall from powerful storms. According to the South Carolina Department of Insurance, companies providing homeowners insurance and coverage for businesses are expecting to be hit by major financial losses due to recent weather-related issues. The majority of claims are expected to comes from those with damaged properties and vehicles, which has been caused by significant floods.…

South Carolina will not build its own health insurance exchange

June 5, 2015June 4, 2015 S.Vagus

Governor announces that the state will not build and operate its own exchange South Carolina will not be developing its own health insurance exchange, according to Governor Nikki Haley. The decisions is expected to impact more than 154,000 people living in the state, whom currently receive subsidies from the federal government to cover the cost of their health insurance policies. The state already has an insurance exchange, but it is managed by the federal government. Depending on a ruling from the Supreme Court, subsidies offered through the exchange may no…

200,000 people in South Carolina could gain health insurance due to new proposal

April 16, 2015April 16, 2015 Logan B.

New proposal aims to expand insurance coverage to the working poor in the state A new proposal in South Carolina could extend health insurance coverage to 194,000 uninsured people in the state. The proposal was introduced by a bipartisan group of Senators who suggest that many of these uninsured people only have access to emergency rooms when they need medical care. These people cannot afford health insurance coverage on their own and their employers do not offer sponsored coverage, leaving them with few options when it comes to medical care.…