Live Insurance News

Insurance news made with Falcone fund manager ban

October 11, 2013October 8, 2013 G. Turner

U.S. regulators have banned him from the coverage and securities industry for five years. The latest insurance news has just been released, revealing that Philip Falcone, the hedge fund manager, has now been banned by U.S. regulators from the securities industry for a period of five years. Further bans were also put into place beyond this wide reaching one, in New York. The bans making the insurance news also include prohibiting Falcone from any decision making roles at a unit of his firm, Fidelity & Guaranty Life Insurance. This, according…

Holocaust Insurance Act in the United States opposed by many Dutch insurers

April 23, 2013April 22, 2013 Julie Campbell

Jewish Families: Holocaust insurance act

Several companies are currently lobbying against the passing of the law in American Congress. A number of Dutch insurers have been fervently and determinedly lobbying U.S. Congress in order to discourage them from passing the Holocaust Insurance Accountability Act. According to recent reports, some of the largest insurers have joined together in this effort. The Dutch companies that are working together include ING, Aegon, and the Dutch Association of Insurers, among others. According to De Telegraaf, a daily newspaper in Amsterdam, they have “lobbied jointly dozens of times” against a…

Insurance news about Nationwide’s management of the security breach is covered up

April 3, 2013April 2, 2013 Julie Campbell

The massive insurer’s lawyers are being used to protect the details of the occurrence last October. Nationwide is currently doing its best to try to keep its insurance news as small as possible, regarding the investigations into the security breach that occurred last October, which exposed the information of 1.1 million Americans. The insurer is taking considerable efforts, through the use of a law firm, to protect the secrecy of the issue. Both state and federal investigators are currently looking into this insurance news, in order to better understand precisely…

Homeowners insurance in New Jersey to become easier to understand

March 22, 2013April 30, 2013

The Senate in the state has given its unanimous approval to the clarification of policies. The New Jersey Senate has just given its approval to assist residents with achieving a better understanding of their homeowner insurance policies, passing a bill by a unanimous 38 to 0 vote. The bill would make it a requirement for insurers to make their coverage far simpler to understand. The Senate bill (A-3642) would require that homeowners insurance companies provide their customers with an information brochure – one that is already a requirement under the…

Health insurance continues to be a confusing matter in the US

February 18, 2013February 17, 2013 S.Vagus

Health insurance confusion could be avoided in the future Confusion is a common problem in the insurance market, especially where health insurance is concerned. Consumers often express their confusion over the coverage options they have, with many consumers claiming that they do not have enough access to information concerning health insurance policies before they make a purchase. Jay Feinman, a professor of insurance law at Rutgers University, has begun drawing attention to this issue, suggesting that health insurance policies should be made more straightforward for the sake of consumers. Consumers…

Insurance news from Washington state includes Commissioner testifying in support of HB1212

February 2, 2013April 30, 2013

Insurance news Mike Kreidler, Washington Commissioner

Mike Kreidler has announced that he has testified against of the use of credit scores by insurers. The latest insurance news out of Washington is that Mike Kreidler, the state’s commissioner, testified on January 30 as a reflection of his support of a new bill that is a bipartisan initiative to stop insurers from being able to use credit information to calculate homeowners policy premiums. House Bill 1212 separates homeowners coverage from the current Washington law restricting credit history use. The current regulations within the state limit the extent to…

Homeowners insurance rate hike leads Commissioner to call hearing

January 26, 2013April 30, 2013

This was a response to NC insurers that have requested considerable premiums increases. Wayne Goodwin, the commissioner for North Carolina, has ordered a hearing in response to the request that homeowners insurance companies in the state have made requests to their policyholders for an increase in their premiums. The commissioner feels that the proposed rates are unfairly discriminatory and excessive. This story was first reported by Insurance News Report on January 23, 2013, but it has since then developed to the point that the commissioner has felt the need to…