Live Insurance News

Pet insurance legislation changes moving forward in California

July 9, 2014July 7, 2014 Julie Campbell

The State Legislature has the power to put a new set of regulatory requirements into place. The pet insurance industry is growing nearly as fast as the animal companion market, itself, and it is now getting ready to face a range of new regulatory requirements in the case the legislation in front of the California State Legislature should move ahead. The new bill being considered was sponsored by Insurance Commissioner Dave Jones. AB 2056 would work to improve consumer protection by way of “bringing uniformity to policy language and disclosures,…

Homeowners insurance fraud scheme in California sells fake policies in fire risk areas

July 8, 2014July 5, 2014 H. Cutner

There has been a vicious rash of bogus coverage sales as property owners desperately seek new protection. According to a recent homeowners insurance news release by the California Department of Insurance, yet another arrest has been made as property owners in areas at a high fire risk have fallen victim to a fake policy scam. The report identified 57 year old Dean Joseph Basler of Ventura as the latest embezzler. It stated that the Ventura County Sheriff had arrested Basler following a homeowners insurance investigation conducted by the Department of…

Auto insurance fraud receives more attention from state agency

June 3, 2014May 31, 2014 Logan B.

Insurance Department begins to increase its efforts to combat insurance fraud throughout California The California Department of Insurance has begun to focus more heavily on fighting auto insurance fraud in the Los Angeles area. The agency has been working to track down and eliminate fraud in this area for some time, but has only found modest success. Those participating in fraud have, thus far, managed to find ways to sidestep regulations and continue exploiting consumers and insurance companies alike. Recently, the agency has found more success in its fight against…

Auto insurance scam investigation crashes massive fraud ring

May 26, 2014May 24, 2014 G. Turner

The Operation High End inquiry lasted for four years and has led to a number of arrests. A series of arrests have now been made as a result of the conclusion of the Operation High End four year investigation into a multimillion dollar auto insurance scam ring that was uncovered in California. The probe was conducted throughout the Los Angeles area and there have already been 12 arrests. At the time of the writing of this article, a dozen people had already been arrested for their alleged parts in this…

California faces a new problem with health care reform

January 31, 2014January 29, 2014 Logan B.

New health insurance issue erupts in California A new health insurance problem has emerged in California and several hundred consumers have already been affected by it. Late last year, many people throughout the state received notifications from their insurance provider informing them that their coverage would be canceled due to the health care reform law. Many of those with cancelled policies went to the state’s insurance exchange in order to find new coverage. In most cases, consumers were able to find less expensive coverage with better benefits, but now many…