Live Insurance News

Nevada health insurance co-op proves successful

April 3, 2014April 12, 2014 Marc

Nevada health insurance commissioner State Legislature Building

Co-op manages to find success where similar initiatives have failed As the open enrollment period for health insurance exchanges ends, there has been an unexpected victory in Nevada. The Nevada Health Co-Op was one of 24 consumer oriented and operated insurance carriers to be launched by the Affordable Care Act. These co-ops are designed to be non-profit organizations that provide consumers with public insurance options. The insurer has only been operating since the fall of 2013, but has managed to account for over a third of the state’s insurance enrollments…

Flood insurance reforms may be missing the mark

April 2, 2014March 31, 2014 Marc

Homeowners are finding that their flood protection costs are increasing rapidly Reforms to the National Flood Insurance Program have been passed, but these changes may have little impact on the actual cost of flood protection in many parts of the U.S. The reforms were meant to limit the rate at which flood protection becomes more expensive, but homeowners in many parts of the country could face “extreme costs” when it comes to their coverage in the coming months. In Winona County, Minnesota, for instance, homeowners are being told to brace…

Study highlights plights of private health insurance in Canada

March 27, 2014March 25, 2014 Marc

Canada health critical illness insurance industry

Canada’s private insurance sector may be in need of reform A new study from the Center for Health Services and Policy Research at the University of British Columbia suggests that private health insurance may be inadequate. The study shows that there is a significant gap between the premiums that consumers pay for coverage and the claims payouts that are issued by insurance companies. As such, major reforms may be in order for Canada’s insurance sector in order to make health care more beneficial for consumers. Study shows that there is…

Insurance technology dispute creates turbulence between Oregon and Oracle

March 6, 2014March 4, 2014 Marc

Dispute between Oregon and Oracle threatens the capabilities of Cover Oregon Acclaimed technology firm Oracle has been at odds with the State of Oregon regarding its health insurance exchange. The exchange makes use of technology that has been developed by Oracle and this technology allows the exchange to operate as it is meant to. The problem, however, is that Cover Oregon is not yet fully developed and state officials have called into question the viability of Oracle’s insurance technology. The tension between the state and the technology firm had reached…

US lawmakers may be ready to fix flood insurance

February 19, 2014February 17, 2014 Marc

Federal insurance program continues to struggled beneath massive debt The U.S. Congress may be ready to finally find a solution to the problems that have crippled the National Flood Insurance Program. The program has been the only place that homeowners could find flood protection for several years, but the program itself has struggled under financial strain for nearly as long as it has existed. After being hit by several powerful natural disasters, the insurance program is currently more than $27 billion in debt, which has affected its ability to pay…