Live Insurance News

Alabama launches work group to investigate the homeowners insurance sector

July 7, 2015July 4, 2015 Logan B.

Alabama governor introduces work group that will examine the insurance market along the Gulf Coast Alabama Governor Robert Bentley has appointed a work group that is meant to study the homeowners insurance business along the Gulf Coast. In recent years, homeowners insurance premiums in the area have been rising at an astonishing rate, which is placing property owners under some financial strain. The work group will examine the market and determine what can be done to improve the insurance sector and reduce the strain on consumers along the Gulf Coast.…

Health insurance rates may be going up in Alabama

June 4, 2015June 2, 2015 Nordstrom

Insurers seek rate increases Health insurance premiums for policies sold through the Alabama exchange could be rising by a significant margin. Blue Cross Blue Shield of Alabama, which sells policies through the exchange, is requesting a rate increase averaging 28%. This rate increase would affect individual plans. For the Blue Choice Platinum – Individual plan that the insurer offers, rates could go up as much as 71%. The rate increases are expected to affect some 175,000 people. Average cost of UnitedHealthcare plans could grow by 24.5% Another insurer is also…

Health insurance for married same sex couples now offered by Blue Cross

December 17, 2014December 16, 2014 Julie Campbell

The largest insurer in Alabama is now required to comply with a federal rule to treat all married couples equally. Blue Cross Blue Shield of Alabama, the largest health insurance company in the state, is now offering spousal coverage to same sex couples that are legally married, so that the insurer will comply with a federal regulation that states that all married couples must be treated equally regardless of their sexual orientation. A spokesperson for the insurance company said that the same sex spousal coverage started being offered this year.…

Children’s health insurance program in Alabama receives great scores

November 10, 2014November 8, 2014 G. Turner

A recent study has shown that kids in the state are receiving some of the best coverage in the country. A study has now been released from Georgetown University, which has determined that when it comes to the states throughout the South, it was Alabama that was providing the best children’s health insurance. Alabama also found itself among the leading states in the country for providing those kids’ health plans. The report was created by the Center for Children and Families (CCF) at the university. It explained that children’s health…

Homeowners insurance is depreciating in value in Alabama

October 29, 2014October 25, 2014 Logan B.

Insurance agents are worried about the value of policy throughout the state Insurance agents in Alabama have begun expressing concerns regarding the depreciation in the value of policies in the state’s wind pool. Alabama insurance agents are beginning to suggest that consumers are beginning to gravitate toward policies that are inexpensive, but have little to no ability to cover the costs associated with recovering from a major natural disaster. As such, consumers are facing a significant degree of financial risk which may also be being felt by insurance companies. Lack…