Live Insurance News

Insurance denial case involving gay men in New York to be investigated by state

February 19, 2018February 17, 2018 Julie Campbell

State financial regulators will be looking into reports of discrimination against homosexual men. New York financial regulators are looking into recent reports of insurance denial involving gay men. The story originated in the New York Times and stated that gay men were being denied long-term care, disability and life insurance because of a preventative medication they were taking. The men were taking a medication to help boost their protection against H.I.V. when they applied for coverage. If the insurance denial allegations are true, it may mean that the insurers’ practices…

Life and disability insurance companies penalize women with postpartum depression

March 2, 2016March 1, 2016 Julie Campbell

pregnant mothers postpartum depression disability insurance

As mental illness gains more awareness and people seek diagnosis and treatment, drawbacks are appearing. This year kicked off with the recommendation from a government-appointed panel that all new moms and pregnant women receive depression screenings, and while this move toward mental health care improved, drawbacks are being experienced by life and disability insurance customers. The move to help women to obtain assistance for maternal mental illness is being applauded as a much-needed step. Public health advocates have been very pleased that pregnant women and new moms will be better…

Insurance policy for $1 million held by Isaiah Austin

June 26, 2014June 24, 2014 Julie Campbell

As the former Baylor center suffers the heartbreak of finished NBA dreams, his “elite” coverage is now making headlines. Isaiah Austin, the former center for Baylor, has recently been diagnosed with Marfan syndrome, a genetic disorder that impacts the connective tissue of the body and though the main headlines have been regarding the heartbreaking to his career, it has recently been discovered that he has an “elite” insurance policy. The condition has caused Austin to watch his dreams of playing for the NBA to suddenly disappear. That said, as this…

Insurance policy for earnings taken out by Max Scherzer of the Detroit Tigers

June 10, 2014June 9, 2014 Julie Campbell

The pitcher has covered himself for the remainder of the season after having turned down a contract extension. In spring training, Max Scherzer, pitcher for the Detroit Tigers, turned down a seven year contract for $144 million, causing many people to think that he was out of his mind, except that he has now taken out an earnings protection insurance policy in the case that he should become a free agent. This current American League Cy Young Award winner clearly has a plan in mind to protect his finances. News…

Disability insurance is lacking among most NFL players

May 20, 2014May 18, 2020 Julie Campbell

football players and disability insurance premiums

The majority of these athletes don’t purchase these policies, despite the risks they face. According to data released by underwriters, the vast majority of players for the National Football League (NFL), don’t actually purchase disability insurance, even though they run a considerable risk of sustaining an injury at some point throughout their career in professional football. While some players don’t want to have to pay for the coverage, others won’t buy for other reasons. The fact does remain that there are many players who don’t want to actually have to…

Flood insurance rates may see turmoil throughout the US in coming months

March 12, 2014March 10, 2014 Logan B.

Insurance rates may soon become chaotic due to changing flood maps and new legislation Flood insurance rates are expected to begin fluctuating throughout the U.S. this year. Reforms are taking hold of the National Flood Insurance Program due to new legislation. The provisions of this legislation are delaying significant increases in insurance premiums for the time being, but the Federal Emergency Management Agency (FEMA), which oversees the federal insurance program, continues to make revisions to flood maps that are having a dramatic impact on the cost of insurance protection. Arizona…

Disability insurance fraud in New York City could reach $400 million

January 14, 2014January 12, 2014 Julie Campbell

Fraudsters in the city have been found to have been scamming the system for decades. Last week, more than 100 former employees of New York City were charged with disability insurance fraud after having allegedly faked psychological issues in order to be able to collect their benefits. According to prosecutors on the case, the total that NYC has experienced in fake claims could reach $400 million. This total dates back over many years, to 1988. The prosecutors say that since that time there have been about $400 million in disability…