Live Insurance News

Dental insurance ransomware hack exposes 9 million patient accounts

June 2, 2023June 1, 2023 Logan B.

Managed Care of North America Dental provides government-sponsored plans for children and seniors. One of the largest dental insurance providers in the United States has suffered an apparent ransomware attack, compromising the personal information of nearly nine million people in the country. The insurer posted a notice saying that it had become aware of unauthorized activity on its computer system. Managed Care of North America (MCNA) Dental calls itself the largest dental insurer in the US for government-sponsored plans providing coverage for seniors and children. It recently posted a notice…

Property and casualty insurance sees largest ever Q1 statutory underwriting loss

May 26, 2023May 26, 2023 Logan B.

Property and Casualty Insurance - net loss

Personal lines resulted in the US industry experiencing its first and biggest Q1 net loss in over a decade. Low personal lines have caused the US property and casualty insurance industry to experience the largest underwriting loss on record and its first in 12 years, according to a new data analysis of statutory financial statements by S&P Global market Intelligence. The analysis was a preliminary calculation based on the underwriting losses of P&C insurers. According to S&P Global Market Intelligence’s preliminary calculations, property and casualty insurers in the United States…

Auto insurance affordability is a concern for 40% of US drivers

May 19, 2023May 17, 2023 Logan B.

A recent survey has found that the cost is a major cause of stress for many motorists. The combination of the high annual inflation rate means that the cost of living is a growing challenge for Americans, and auto insurance has become a stressful concern. A recent survey showed that 43 percent of insured drivers had experienced a rate hike since last year. The survey was conducted by PolicyGenius. It showed that 43 percent of drivers were paying more in 2023 for their auto insurance coverage than they did in…

Auto insurance rates calculations may be changing in Massachusetts

May 12, 2023May 11, 2023 Logan B.

Auto Insurance Rates - Calculations - Money

A new bill has been proposed in the state that will alter the way premiums are calculated for drivers. A newly proposed bill in Massachusetts has the potential to greatly change the way auto insurance rates are calculated, and the amount people will be paying for their coverage in the state. The Senate bill is aimed at changing highly influential components used to calculate premiums. Among the factors that are most defining to auto insurance rates in Massachusetts is a driver’s ZIP code. However, the bill in the Senate is…

Georgia to operate its own health insurance market under newly signed law

May 5, 2023May 5, 2023 Logan B.

The state government will be operating the exchange on its own for the first time. Governor Brian Kemp (R) has signed a bill into law that will have the Georgia state government taking over its own health insurance marketplace for individual coverage for the first time. Among the reasons the governor signed the bill is to boost competition and give consumers options. According to Governor Kemp, who spoke at a ceremony at the state Capitol, this new law will provide state residents with a better way of “knowing and comparing…

North Carolina lawmakers considering major health insurance changes

April 28, 2023April 27, 2023 Logan B.

At the same time, they are also considering substantial changes to the prescription drug industry. A number of bills are currently moving forward in North Carolina with the intention of overhauling components of the health insurance and pharmacy industries. Powerful companies are pushing hard in the hopes of securing regulations in their favor. The changes to the laws in the state would include those regulating Blue Cross Blue Shield of North Carolina, the largest health insurance company in the state. Those have already made it through their first committee, though…

Will Fox News’ insurance policies cover its record $787.5 million Dominion settlement?

April 21, 2023April 20, 2023 Logan B.

The channel has agreed to the payout to the voting systems company, but it might have coverage for that. Fox News has agreed to a tremendous $787.5 million settlement payment to Dominion Voting Systems, though its insurance policies might provide coverage for much of that stunning amount. The payment represents the largest publicly known US defamation case settlement in history. As considerable as the figure is, it is unlikely to cause significant damage to Fox News. Fox Corp. reportedly already had almost $4.1 billion in cash available according to a…