Live Insurance News

Gun insurance requirement in the spotlight in New York

October 22, 2015October 22, 2015 Julie Campbell

Assemblyperson Felix Ortiz (D) is hoping that this liability coverage will boost accountability. In New York state, a Democrat lawmaker from Brooklyn is now working to be able to have a law passed that would require firearm owners to purchase at least $250,000 in gun insurance. The goal is to try to hold “reckless gun owners accountable” through the use of liability policies. Assemblyperson Felix Ortiz believes that his gun insurance bill will make it possible to boost the prevention of the types of tragedies that have happened through mistaken…

US may miss targets for health insurance exchange enrollment

October 22, 2015October 21, 2015 Logan B.

Government projections may be too ambitious Last year, the Obama administration declared the Affordable Care Act a success, as it had expanded the availability of health insurance coverage to some 8 million people throughout the United States. These people were able to find coverage through insurance exchanges, through which several private companies offered policies. Consumers also had access to subsidies from the federal government, which have made health insurance more affordable for many people. The success of insurance exchanges lead federal officials to believe that many more people would sign…

Estimated 10 million people expected to enroll in health insurance exchanges by the end of the year

October 22, 2015October 21, 2015 Nordstrom

HHS predicts that many more people will enroll in state-based insurance exchanges by the end of this year The U.S. Department of Health and Human Services expects that some 10 million people will enroll for health insurance coverage through state-based exchanges by the end of this year. More than one-quarter of those without insurance in the country are expected to sign up for policies that suit their needs during the upcoming open enrollment period. The enrollment period is scheduled to begin on November 1, running through January 31, 2016. 8.8…

Growth is coming to the gulf insurance industry, but it won’t be easy

October 21, 2015October 20, 2015 Julie Campbell

A new survey has shown that the region will see steady increases in product penetration but with challenges. Spending from Middle Eastern governments on non-oil projects and a strong increase in coverage products will provide considerable support for Gulf insurance industry growth across all six of the Gulf Cooperation Council countries, said a new survey. The non-life sector was predicted to see a stronger growth performance than life insurance. The reason is that there have been some new regulations in the Gulf insurance industry such as the mandatory purchase of…

Pennsylvania regulators make changes to health insurance proposals coming from insurers

October 21, 2015October 20, 2015 Marc

Highmark will be overhauling the health insurance plans it offers in the state Highmark Inc., one of the largest providers of health insurance coverage in Pennsylvania, has announced that it will be making changes to the policies it offers in the state. The decision follows action taken by the Pennsylvania Insurance Department to reduce several of the rate increase proposals that came from the insurer this year. Highmark had sought to increase premiums for 2016 coverage, but state regulators have determined that rates did not need to be increased by…