Iran offers oil shipment insurance to India to keep tankers sailing

Oil shipment insurance - Ship at sea carrying oil

Tehran’s efforts to overcome the returning U.S. sanctions include providing their own insurance coverage. Iran has started offering India oil shipment insurance to cover tankers operated by Iranian companies. The goal is to overcome the barriers occurring as a result of Indian insurance companies backing out of covering Iranian oil takers due to the return of sanctions from the United States. By providing their own cargo insurance for tankers headed to India, Tehran is hoping to keep tankers moving. As India is Iran’s second largest single oil customer – China…

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California providers start dropping their high risk insurance customers

High risk insurance - Wildfire in Forest

Insurers have started withdrawing coverage from the most wildfire vulnerable areas. As wildfire season heats up, insurers across California have started to drop their high risk insurance customers. Homes that are the most vulnerable to wildfire may not be able to find coverage within the state as the flames start to spread yet again this year. Liberty Mutual and other insurance companies are stepping away from the highest wildfire risks. This trend could cause a growing number of Californian homeowners to find themselves without wildfire insurance coverage for their properties.…

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Charges laid in massive health insurance scam worth $1M in fraud

Health insurance scam - Scam alert

A Florida man has been charged with impersonating a New Jersey doctor to make falsified claims. A Florida man is now facing charges in a massive health insurance scam. To swindle his insurance company out of about a million dollars, he allegedly assumed the identity of a doctor in New Jersey. The man proceeded to file a number of fraudulent claims against his medical plan. By using the New Jersey doctor’s identity, the man allegedly submitted over $1 million in fake insurance claims. The health insurance scam involved services that…

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Canadian life insurance companies no longer equate marijuana use to “smoking”

life insurance companies - Marijuana

Changes to the country’s laws and social attitudes have brought about change in industry policy. Life insurance companies in Canada have traditionally labeled cannabis users as being “smokers.” However, a recent change in the country’s industry has changed this situation among many insurers. Smokers are typically penalized by life insurance companies and, until recently, that included pot users. The Canadian Life and Health Insurance Association director of health and disability policy, Joan Weir, explained in a CBC report that many life insurance companies have stopped equating light marijuana use with…

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Health insurance trends may be driving opioid epidemic

Health insurance trends - Pills - pain killers - drugs

A recent Johns Hopkins Bloomberg School of Public Health Study measured this effect. Health insurance trends toward greater popularity of coverage may be pushing along the opioid epidemic. The reason, according to the Johns Hopkins Bloomberg School of Public Health study, the reason is that the majority of private insurers as well as Medicare and Medicaid aren’t doing enough to stop it. The study examined coverage policies from major health insurance companies in 2017. The researchers looked into what the policies offered in terms of coverage for treating chronic lower…

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