Tag: California Insurance

California hearing focuses on workers compensation system

Nordstrom
California health insurance

At a recent hearing in Sacramento of California’s Assembly and Senate brought focus to the state’s workers compensation insurance system. The hearing lasted for more than four hours, much of which was spent exposing the shortfalls of the state’s current system and highlighting the need for extensive reform. California’s Worker’s Compensation Institute (CWCI), a non-profit organization that writes worker’s compensation policies for the state, attended the hearing in order to share its views on the current problems facing the system and to discuss the issue of reform. During the hearing,…

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California earthquake insurance could be shaky if Seismic Safety Commission loses its funding

Julie Campbell

California insurance market getting a shake down A 2010 ballot initiative could cause the Seismic Safety Commission in California to lose its funding before the end of 2012. The ballot initiative was designed to help to make it more difficult for government fees to be imposed on individuals and businesses. It also caused the California Legislative Analyst’s Office to decide that the proposed funding method by the governor to the Safety Commission is now unconstitutional. The analyst made the recommendation that there be a rejection by the Legislature of the…

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California insurance regulators clash with Aetna over insurance rate hikes

Marc

California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…

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California pushes for insurance exchange despite fate of Affordable Care Act

S.Vagus

California health insurance news update California seems to be moving ahead with its plans to build a health insurance exchange despite the current controversy surrounding the Affordable Care Act. The federal health care law is currently awaiting ruling from the Supreme Court after lengthy and uncomfortable litigation last month. Speculation suggests that the Court may rule the law as unconstitutional, or at least a part of which, which means that states would no longer be required to build insurance exchanges. California lawmakers are well aware of the possibility that the…

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California Insurance Commissioner Dave Jones requests reduced rates from “forced-placed” mortgage insurance companies

Insurance Commissioner Dave Jones has spoken with the 10 biggest insurers providing “lender-placed coverage” California insurance, in order to address a number of concerns that have been brought to his attention regarding excessive rates. Within that communication, Commissioner Jones directed that a California Department of Insurance (CDI) rate filing be made in order to lower their rates. The insurance commissioner too this step at a time when reports have been made quite heavily regarding sketchy financial integration between insurance companies that offer “forced-placed” mortgage insurance, and the mortgage lenders themselves.…

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