Live Insurance News

Cyber insurance is catching the attention of the federal government

March 30, 2016March 29, 2016 Marc

Subcommittee aims to address issues facing the cyber protection space Cyber security is beginning to gain the attention of the U.S. federal government. The House Homeland Security’s cyber security subcommittee has held a hearing concerning the challenges facing the cyber insurance space. A recent report predicted that this market would reach $7.5 billion in annual premiums by 2020, making it one of the fastest growing insurance segments in the world. The need for cyber protection, on the insurance level, is becoming more apparent, especially as digital attacks become more common.…

Kentucky approves controversial health insurance deal between Aetna and Humana

February 18, 2016February 16, 2016 Marc

Kentucky insurance exchange health insurers

New Insurance Commissioner grants approval for Aetna’s acquisition of Humana Kentucky’s new Insurance Commissioner, H. Brian Maynard, has approved of a controversial acquisition plan from Aetna. The insurance provider has plans to acquire Humana in a deal that has caused concern among consumers and some government officials. The deal is valued at approximately $37 billion and some fear that it could have a dramatic impact on the health insurance market. Commissioner Maynard’s decision to approve the deal has been met with some criticism. Economists have yet to report on the…

Health insurance premiums set to grow in Tennessee

February 3, 2016February 2, 2016 Marc

BlueCross Blue Shield intends to raise rates for 2017 coverage BlueCross BlueShield of Tennessee is preparing to request for additional rate hikes in the coming months. The company is the largest health insurance provider in the state and is looking to raise premiums in an effort to overcome financial losses. The insurer has estimated that it will have lost $150 million by providing insurance policies through exchange marketplaces. Exchanges were designed to make coverage more accessible, something which they managed to accomplish quite well. Insurers are fighting financial losses by…

Wildfires in California hit the insurance industry with $1 billion in losses

January 29, 2016January 27, 2016 Marc

Fired introduce more financial strain to the insurance industry Two wildfires in Northern California have destroyed almost 150,000 acres of land, causing approximately $1 billion in insured losses, according to the California Department of Insurance. The fires hit the state last fall and the insurance industry has been working to measure the damage caused by the disasters since then. One of the fires, called the Valley Fire, has become the third most devastating wildfire in the state’s history in terms of total structures destroyed. Wildfires could be more destructive due…

San Francisco seeks to help residents acquire health insurance coverage

January 27, 2016January 26, 2016 Marc

City is working to address the lack of insurance coverage among consumers Consumers in San Francisco, California, are finding it difficult to afford their health insurance coverage. The city is notorious for its high cost of living, which has lead many people to forgo acquiring insurance coverage. They are also avoiding seeking medical care or taking advantage of free services that are intended for the poor. Notably, a significant portion of these consumers are eligible for subsidies from the federal government that help cut down the cost of health insurance…