Live Insurance News

Health insurance rates to rise 6% for 300K Massachusetts consumers

August 31, 2015August 30, 2015 G. Turner

Insurers across the state will be increasing premiums for small businesses and individuals, next year. Health insurance rates in Massachusetts are about to rise by over 6 percent for individuals and small businesses, alike in 2016, which is making many people wonder if the cost of coverage may be heading into an upward trend. This rate increase has already received the approval of the Division of Insurance in the state. Now that it is moving ahead, it will mean that there will be a rise in health insurance rates that…

National Flood Insurance Program continues to struggle from financial losses

August 31, 2015August 30, 2015 S.Vagus

10 years after Hurricane Katrina, federal program is still financially crippled More than 10 years have passed since Hurricane Katrina hit the United States, and many homeowners are still reeling from the damage caused by the catastrophe. Homeowners faced one of the most expensive disasters in the history of the country and its insurance industry, with some $80 billion in losses, with another $16.1 billion in flood insurance claims. The hurricane, as well as other storms that hit the country between 2008 and 2012, caused serious problems to the National…

Enrollments in New York health insurance spike

August 28, 2015August 26, 2015 Julie Campbell

This year, there have been a large number of people who have purchased coverage in the state. Since the start of this year, there has been a considerable increase in the number of people who have enrolled for New York health insurance through the state’s official exchange marketplace. There are a number of reasons that New Yorkers seem to have jumped on board the coverage bandwagon. Western New York Health-care Association president, John Bartimole, has stated that one of the primary reasons that there has been an increase in participation…

Geico agrees to pay $6 million auto insurance settlement in California

August 28, 2015August 27, 2015 Logan B.

Geico has agreed to pay a settlement concerning accusations of discriminatory practices Geico, one of the most prominent auto insurance providers in the United States, has agreed to pay $6 million in order to settle bias charges made against it, which were first raised by the Consumer Federation of California. The charges have to do with the insurer discriminating against drivers regarding their gender, education level, and occupation when they sought out quotes for policies online. The insurers will be paying the $6 million settlement over the course of three…

Health insurance premiums to see a modest rise in Florida

August 28, 2015August 27, 2015 S.Vagus

Florida regulators announce rate hikes for policies sold through exchange The Florida Office of Insurance Regulation has announced that it has approved an increase in health insurance premiums for coverage sold through the state’s exchange. Florida’s insurance exchange in managed by the federal government, and consumers looking for policies can find them through HealthCare.gov, the federal exchange network. The rate increases in Florida are more modest than what is being reported in other states and consumers are expected to experience a small increase in premiums for coverage in 2016. Premiums…