Live Insurance News

Insurance exchange in Nevada open for buying health plans

September 4, 2014September 1, 2014 H. Cutner

Residents of the state don’t need to wait to purchase coverage for next year, as is the case in other parts of the country. Consumers across the United States are typically unable to purchase plans through their state or the federal insurance exchange until November 15,unless they have undergone certain qualifying life events since the start of the year, such as moving into a different state, the addition of a child to the family, or a marriage. However, individuals who live in Nevada are already able to access their insurance…

Insurance industry must take the digital age seriously

September 4, 2014September 2, 2014 Logan B.

Report highlights the changing behavior of consumers around the world Improving digital engagement may be the key to success for the insurance industry, according to a new report from PwC. Consumers throughout the world are becoming more digitally oriented, relying on the online realm to conduct their daily lives. These people shop online, communicate with their loved ones online, and even work online, and if the insurance industry cannot cater to the changing needs of digital consumers, it may risk losing its ability to engage customers effectively. Consumers are favoring…

US government to investigate health insurance subsidy abuse

September 4, 2014September 2, 2014 S.Vagus

Government regulators are looking to uncover potential fraud Hundreds of thousands of people throughout the U.S. are being contacted by the federal government. The government is questioning these people about their eligibility for the subsidies provided by the Affordable Care Act. According to the Obama administration, a large portion of those seeking coverage through health insurance exchanges may have provided misleading or false information concerning their incomes. This information does not match that which is stored with the Internal Revenue Service, which calls into question whether or not subsidies are…

Earthquake insurance losses from Napa Valley could break the $1 billion mark

September 3, 2014September 1, 2014 Julie Campbell

San Andreas Fault Line California earthquake insurance

The stunning wine region of California was, however, saved from extreme levels of damage from the quake. The quake that shook California’s prestigious Napa Valley region at a magnitude of 6.0, just over a week ago, is now estimated to have caused damages covered by earthquake insurance that could reach up to $1 billion. The damage in the region was centered in the actual Napa city, which essentially spared the nearby wineries. In fact, the majority of the wineries and vineyards were able to continue to operate as usual despite…

Long term care insurance prices raise concerns

September 3, 2014September 5, 2014 G. Turner

Long Term Care Insurance Premiums on the Rise

Insurance commissioners in nearly every state are alarmed as they have nearly no authority to stop these skyrocketing rates. Across the country, state authorities are finding that the price of long term care insurance coverage is heading sky high at an increasingly rapid rate, and at the moment, they don’t have much in terms of power when it comes to actually controlling this issue. Regardless of claim history or health status, insurance premiums are rising at a staggering pace. It is not unheard of – or even uncommon – for…