Live Insurance News

Health insurance for employees is on the rise in Massachusetts

May 16, 2013May 14, 2013 G. Turner

Employer sponsored coverage is becoming more common among workers within the state. According to the data in a recent report, the percentage of employees in Massachusetts who are opting to take part in their employer’s sponsored health insurance coverage instead of taking home a larger amount of pay has increased since 2006, when the state overhauled its medical coverage system. The report also suggested that the federal Affordable Care Act may replicate this same result. The share of employees who have health insurance through their employment increased from having been…

Homeowners insurance confusion is common in California

May 15, 2013May 25, 2013 Nordstrom

Confusion concerning homeowners insurance protection is a major problem in California Confusion is a common problem among a large portion of Californians when it comes to the basics of homeowners insurance. A new poll from InsuranceQuotes.com, an insurance aggregator, shows that many people do not accurately know what their homeowners insurance policies cover. This confusion is not only common in California, of course, and has been documented elsewhere in the U.S. Homeowners insurance confusion was recently highlighted as a major issue that exacerbated the impact of 2012’s Hurricane Sandy. Homeonwers…

Bank heist may have lasting impact on insurance industry

May 15, 2013May 25, 2013 Logan B.

Insurance industry may feel the impact on recent heist The insurance industry may be set for a shock in the wake of one of the world’s largest bank heists. Late last week, a global cyber crime syndicate successfully stole $45 million from two banks in the Middle East. This was accomplished by hacking into the credit card processing firms that were used by the banks. The funds were withdrawn from numerous ATMs in 27 countries, including the U.S. While this money is typically insured by the governments associated with banks…

Health insurance exchange decision nearly made by Washington DC

May 15, 2013May 25, 2013 Julie Campbell

Health insurance care reform confusion debate

The D.C. Council will be making its decision about small business plans as early as next week. It is now believed that the decision regarding whether or not small business owners will be required to buy the health insurance for their employees through an exchange run by Washington D.C. will be made as soon as next week. This decision will help to determine how D.C. will be complying with the federal healthcare reforms. Council member Yvette M. Alexander (D – Ward 7) has explained that it is her intention to…

Flood insurance cost increase delay sought by senators

May 15, 2013May 25, 2013 H. Cutner

Following the struggles that have been brought about by Superstorm Sandy, higher rates could be crippling. According to Senator Robert Menendez, choosing to increase the rates for flood insurance at the moment could be highly damaging to the residents of New York and New Jersey, who are still struggling to rebuild their homes and businesses after they were demolished by Superstorm Sandy. The victims of the storm are already coping with the new flooding zone maps that often require changes. The rebuilding has already led to increased costs as many…