Live Insurance News

Workers compensation overhaul proposed by Tennessee governor

January 29, 2013April 30, 2013

Tennessee workers compensation Insurance companies

Gov. Haslam has declared his intentions to reform the system within the state. Tennessee Governor Bill Haslam has announced that he will be dedicating himself to overhauling the workers compensation coverage system in the state. This is an area that has held the governor’s attention for some time and he has chosen now to make the changes. Governor Haslam’s administration has now proposed changes to the laws for workers compensation within Tennessee. These proposals suggest that an independent agency should be created in this sector. The purpose of that agency…

Workers compensation marketplace in Florida retails solid standing

January 4, 2013January 4, 2013 H. Cutner

The state’s insurance for injured employees remains strong despite weakness in other parts of the country. The annual report providing data on the condition of the workers compensation insurance marketplace in Florida has now been released, and it has shown that the market in that state is still holding strong and is maintaining its competitive status. This report was initially released on Wednesday to provide insight into this marketplace. It was issued by the Office of Insurance Regulation in the state. That office pointed out that the premiums that employers…

Aetna faced with fine from Washington regulators

December 31, 2012December 31, 2012 S.Vagus

Aetna facing $1 million fine for faulty policies Insurance giant Aetna has run afoul of regulators in Washington. Insurance Commissioner Mike Kreidler has announced that Aetna has been fined $1 million for issuing more than 7,000 policies in the state to residents that faced premiums that were never approved by state regulators. Regulators suggest that many of these policies did not live up to the state’s legal requirements, thus were never official and introduced significant risk to consumers that held these policies as well as major financial stress. Policies do…

Workers compensation payouts have exploded by 26 percent since 2007

December 26, 2012April 30, 2013

Over the last five years, the total amount of money received by injured employees in Oklahoma is way up. According to a Tulsa World review based on the cases that reached the Workers Compensation Court in Oklahoma over the last five years, the total amount of money that has been received by injured employees has skyrocketed by 26 percent. This has been a costly increase to employees and insurance companies during this time. The analysis showed that today’s employers and workers compensation insurance companies have had to pay out approximately…

Workers compensation study draws attention from NC employees

December 20, 2012April 30, 2013

North Carolina Republican panel supports health care reform challenge

Those hired by the state in North Carolina are seeking to participate in upcoming research. Employees of the state of North Carolina, as well as their advocates, have announced that they feel that their voice should be included in research that will help in the planning of their workers compensation plans for the future. They have said that they deserve to be able to contribute in the plans for their upcoming coverage. The study in question is one that legislators in the state will be using for the creation of…

Disability insurance struggles arising from application increase

November 22, 2012November 21, 2012 H. Cutner

As a growing number of Americans seek assistance, the program is facing serious challenges. It is now being estimated that the Social Security Administration’s funds to cover the costs of disability insurance will have been entirely spent in four years’ time. This will mean that the benefits will shrink for over 9 million disabled workers and their families. Income taxes will be providing enough money for only 79 percent of the disability insurance benefit, which will mean that – assuming the same number of individuals remain covered by the program…

Auto insurance fraud under attack in California following $1.3 million grant

November 12, 2012November 11, 2012 Julie Campbell

A Contra Costa district attorney has directed the funds toward an aggressive effort. According to the district attorney in Conta Costra, California, officials will now be establishing an investigation into workers’ compensation, disability, health care, and auto insurance fraud, with the assistance of a state grant worth $1.3 million. The announcement explained that these funds will help in both investigations and prosecutions. The Contra Costa County District Attorney’s Office, and the California Department of Insurance made the announcement through District Attorney Mark Peterson, saying that the grand money would be…