Live Insurance News

Insurance company in North Dakota fined $60,000 for several violations

December 8, 2014December 6, 2014 G. Turner

Blue Cross Blue Shield must pay the penalty for claims handling issues and other payments failures. Blue Cross Blue Shield of North Dakota recently agreed to pay a number of different fines that will come to a total of about $60,000, for having made several “systemic” violations that were discovered by regulators during an examination of the insurance company. The violations have occurred in a range of different areas including the handling of claims. Among the violations that were found within the examination of the insurance company were the claims…

Insurance companies sued by Minnesota Archdiocese

December 1, 2014November 29, 2014 Julie Campbell

St Mary's Catholic Church Minnesota insurance claims companies

Twenty insurers are have had lawsuits filed against them over issues regarding sex abuse claims. In Minnesota, the Archdiocese of St. Paul and Minneapolis has now announced that it has filed lawsuits against 20 insurance companies in an effort to attempt to force those insurers to have to pay for the liabilities on claims involving sex abuse by the clergy. The lawsuit has now been filed in federal court, saying that the archdiocese should have been covered for decades. The complaint stated that the insurance companies had been providing liability…

Insurance company goes under and leaves Pennsylvania taxi business uninsured

November 4, 2014November 1, 2014 H. Cutner

Some cabs in Harrisburg have now had their service suspended when they suddenly lost coverage. Pennsylvania commuters and tourists might find it just a little bit harder to get a cab, over the next while, as the operations of sixty six taxi and limo services were suspended by the Pennsylvania Public Utility Commission (PUC) when their insurance company could no longer provide coverage. It turns out that their insurance provider is now destined to be liquidated and is no longer capable of paying future claims. The commission’s press secretary, Jennifer…

Pet insurance in California now involves new disclosure rules

October 9, 2014October 7, 2014 H. Cutner

A new law within the state obliges insurers to explain their policy coverage very clearly to animal owners. California has now become the first state in the country to create regulations with regards to disclosure within the pet insurance industry, which is primarily unregulated up until this point. The bill was recently signed into law to ensure that consumers will know the coverage that they are buying. Governor Jerry Brown recently signed bill AB2056, making it into a law that states that pet insurance companies must provide animal owners with…

Health insurance industry may be in for a dramatic shift

October 7, 2014October 4, 2014 S.Vagus

Report suggests that the insurance industry in the US could be flipped on its head The Psilos Group has released a report that suggests the U.S. health insurance industry will be “flipped on its head.” As the Affordable Care Act continues to cause a shift in the insurance sector, many insurers are expected to revamp their business models to better accommodate changes being made to the national market. The federal law has changed the focus that many insurers had on employers and group coverage, encouraging them to pay more attention…