Homeowners insurance claims from Oklahoma tornado could exceed Joplin

Julie Campbell
Homeowners insurance losses oklahoma tornado

The state commissioner has reported that the damage caused by the E5 will be in the billions of dollars. John Doak, the Oklahoma Insurance Commissioner, has stated that it is likely that the tornado that struck the Oklahoma City suburb will generate homeowners insurance claims that will be higher than the twister that hit Joplin, Missouri in 2011. Doak stated that Joplin’s storm caused about $3 billion in damage, and that “This will likely exceed that.” The commissioner made his statement after having toured the devastated area. He said that…

Read More

Health insurance for high risk Californians to shift to federal program

H. Cutner
California health insurance

There will be thousands of people in the state with serious medical conditions who will be affected. Beginning in July, there will be about 17,000 people with serious medical problems in California who will be shifting out of a state run health insurance stopgap program and into a federal plan. This will help to make sure that their coverage continues until the healthcare reforms become effective next year. This, according to an announcement that has been made by officials in the state. The state board responsible for overseeing the California…

Read More

Auto insurance reform details unveiled for Michigan

G. Turner
Michigan Auto Insurance

The new plans for a no fault system have now been unveiled in the hopes of driving rates down. Drivers in Michigan have just received news regarding the reform package for the auto insurance system in the state, which is meant to lower the skyrocketing premiums that they are paying. At the same time, data was revealed regarding a $14 billion catastrophic accident claims fund. The bills for these auto insurance reforms are still drafts, but if they move ahead, they will change the structure of the Michigan Catastrophic Claims…

Read More

Cover Oregon becoming an example for health insurance cost reduction in the US

Logan B.
Oregon Health Insurance exchange

Oregon health insurance exchange becoming a favorite for the federal government Oregon may be home to one of the country’s most favorable health insurance exchanges, from a federal perspective. The state is one among several others that has chosen to build and operate its own health insurance exchange system, called Cover Oregon. Initially, this exchange received conditional approval from the Department of Health and Human Services, which oversees the enactment of the Affordable Care Act. Cover Oregon has since become one of the most favored health insurance exchange systems of…

Read More

Homeowners insurance sector rallies to Oklahoma

S.Vagus
Oklahoma tornado homeowners insurance

Homeowners insurance faces another powerful blow from natural disasters Oklahoma City, Oklahoma, fell victim to a powerful tornado earlier this week. The tornado had been classified as an EF4 at the time it reached the city on May 20. The tornado boasted of more than 200 mile per hour winds and cut a path of destruction through the city and its surrounding area, claiming the lives of 24 people. State officials are now declaring the event an official disaster, which may be of some benefit to the homeowners insurance sector…

Read More