Live Insurance News

Florida homeowners insurance expensive despite decade without a hurricane

December 3, 2015December 1, 2015 Julie Campbell

The season for these major storms has now come to a close but rates still aren’t dropping. The official close to the hurricane season was on Monday, but even though there hasn’t been one that has struck Florida in ten years, homeowners insurance rates remain high and many are wondering why they aren’t falling due to the improvements in natural disaster damage. Insurance companies have stated that the reason doesn’t have to do with storm frequency as much as building cost. The price of building materials has been rising very…

Auto insurance fraud is a costly problem in Ireland

December 3, 2015December 1, 2015 Logan B.

Report highlights the growing costs associated with auto insurance fraud Auto insurance fraud is beginning to weigh on consumers in the United Kingdom. According to the Automobile Association, Ireland is feeling a significant degree of financial pressure caused by fraud. A recent report from the organization shows that, on average, drivers are paying approximately $50 more a year on their coverage, largely due to the fact that insurers are attempting to recover from the financial losses they experience as a result of fraud. Anti-fraud system has not yet been launched…

Arizona health insurance co-op will be closing at the end of the year

December 3, 2015December 1, 2015 Nordstrom

Meritus Health Partners is struggling to find any financial success Arizona’s health insurance co-op, a non-profit organization meant to ensure state residents have access to insurance coverage, will be shutting down on December 31 this year. Meritus Health Partners, which provides coverage to nearly 60,000 Arizona residents, has suffered from financial complications over the past year, leaving it in a very troubling situation. The co-op’s governing board has determined that the best course of action will be to close down the co-op, with those affected by the closure having to…

Citizens Insurance in Louisiana dumps more policies

December 2, 2015December 1, 2015 Julie Campbell

Citizens Insurance Louisiana homeowners insurance property

The Insurance Commissioner from the state, Jim Donelon, has announced new participation in this effort. A recent announcement from Insurance Commissioner Jim Donelon has shown that three new insurers have added themselves to the efforts to reduce the number of policies carried by Citizens Insurance in Louisiana. Citizens Property Insurance Corp. has been working to shrink its size after becoming quite bloated. The state’s property insurance company of last resort had been swelling in size following Hurricane Katrina in 2005, and then hit its peak size following Hurricane Rita in…

New Hampshire to investigate health insurance companies concerning substance abuse claims

December 2, 2015December 1, 2015 Marc

State agency to investigate whether or not insurers are complying with state and federal laws The New Hampshire Insurance Department will be examining whether or not health insurance companies operating in the state are properly covering substance abuse service, as they are required to. Per the Affordable Care Act, insurers are required to provide the same level of coverage for addiction coverage as they do for typical medical care. New Hampshire has been looking to expand the substance abuse treatment and recovery services it offers in recent years and is…