Live Insurance News

Homeowners insurance recommended for Oklahoma residents

August 12, 2013August 10, 2013 G. Turner

Officials in the state have been urging residents to consider the “hard to insure” program for their homes. The head of the homeowners insurance department in Oklahoma has released a statement that is currently urging residents to consider taking part in the “hard to insure” program to obtain coverage for their homes. This recommendation comes on the heels of over $1 billion in claims payments from May’s severe tornado damage. John Doak, the commissioner for Oklahoma, issued a statement at the end of the week that reminded residents of the…

Insurance news made when high school football player inspires law

August 8, 2013August 7, 2013 H. Cutner

The Governor of Illinois has just signed a new bill that was inspired by an injured student. Pat Quinn, the Governor of Illinois, has just signed a new bill into law, making insurance news when he added his signature while visiting Eisenhower High School, located in Blue Island Illinois. The reason that the signing occurred at that high school was that the law was inspired by one of its students. The insurance news started back in the year 2000, when a student at Eisenhower, who was on the football team,…

Health insurance law putting strain on public unions

August 7, 2013August 5, 2013 H. Cutner

health insurance rates highest and lowest

Municipalities nationwide are putting the pressure on their unions to accept cheaper benefits. Towns and cities across the United States are now placing pressure on their municipal unions to start accepting cheaper health insurance benefits ahead of an element of the implementation of one of the healthcare reform components that will place a tax on more expensive plans as of 2018. The Affordable Care Act includes a so-called “Cadillac tax”, which was created following the advice of economists. The economists argued that health insurance that was more expensive, in which…

Germany balks at EU regulations targeting the insurance industry

August 7, 2013August 5, 2013 S.Vagus

Insurance industry shows unease over new risk management regulations The European Union is currently working to introduce new regulations to the insurance industry in an effort to moderate risk and exposure. These rules are meant to impose new risk management standards on large insurance companies in order to mitigate any problems that could be caused by future financial disasters. In Germany, these regulations are being met with resistance as the insurance industry balks at the deadlines imposed by the European Union concerning the implementation of these new regulations. German agency…

Illinois health insurance companies seek to circumvent federal law

August 6, 2013August 3, 2013 Nordstrom

Acts of health insurance providers create drama with state regulators Drama has erupted in the insurance industry in Illinois. The state’s Department of Insurance has taken issue with an action that many of the state’s largest health insurance providers plan to take in order to avoid federal reforms for an entire year. Per the Affordable Care Act, insurers will not be able to charge higher rates for women, those with pre-existing conditions, and other demographics beginning January 1, 2014. In an attempt to sidestep these new regulations, many of the…