Live Insurance News

Nevada health insurance co-op to shut down in 2016

September 2, 2015September 1, 2015 S.Vagus

Nevada health insurance commissioner State Legislature Building

State’s insurance co-op will cease operations on January 1, 2016 Nevada’s health insurance co-op will be closing down on January 1 next year. The co-op was established through the Affordable Care Act and serves as a non-profit insurance organization that is meant to provide consumers with more options when it comes to affordable coverage. The problem, however, is that the co-op has struggled to meet its enrollment goals and has failed to generate profits, which has lead to a troubling financial situation that it is not able to recover from.…

Allstate Insurance Drivewise telematics app receives upgrade

September 1, 2015August 30, 2015 Julie Campbell

The usage based auto insurance program offered by the insurer is rewarding safer drivers. Allstate Insurance is now adding a new upgrade to the app for its Drivewise® Mobile in order to be able to enhance the experience for drivers who are looking to save money based on their safe habits behind the wheel. This new version of the usage based insurance app is meant to boost the incentive for safe driving. The smartphone app from Allstate Insurance has already been winning awards and is now offering drivers a new…

US group makes insurance news in China with new disaster recommendations

September 1, 2015August 30, 2015 H. Cutner

An American business group has started to urge China to boost its coverage and service industry access. At the end of last week, an American business group made insurance news as it started urging China to boost its access to insurers as well as businesses from other service industries, as they claim that the boost of foreign skills could help the country to enhance its shaky stock markets and to be able to better cope with catastrophes such as the recent Tianjin chemical explosions. The group feels it would be…

Blue Cross Blue Shield of New Mexico pulling out of state’s health insurance exchange

September 1, 2015August 30, 2015 Logan B.

Capital Building Santa Fe New Mexico health insurance

Insurer will not be providing individual coverage through state’s exchange next year Blue Cross Blue Shield of New Mexico will be exiting the New Mexico health insurance exchange next year, according to the state’s Superintendent of Insurance, John Franchini. The insurer is pulling out of the exchange marketplace after having its rate increase proposal denied by state regulators. Blue Cross Blue Shield had sought approval for a significant increase in premiums for coverage it would provide in 2016, but state regulators found that the amount that the insurer wanted to…

The insurance industry remembers Hurricane Katrina and the changes it brought

August 31, 2015August 30, 2015 Julie Campbell

Following that tremendous natural disaster, policies have looked different in a number of ways. The last few days have marked the tenth anniversary of the time when New Orleans was devastated by Hurricane Katrina, in the biggest disaster that the insurance industry had ever seen in the history of the United States. A decade ago, the levees were breached and the city’s protective flood walls caved, flooding 80 percent of the city. A year following the disaster, the population of New Orleans was half what it had been before the…