Excellus of New York files for rate increases, cites soaring health care costs

Excellus Blue Cross Blue Shield of New York has approached state insurance regulators for approval to raise its health insurance rates. The proposal is planned to take effect next year and will impose a 19.5% increase on some of the policies in the state. The company says that the increase is necessary in order to keep up with soaring medical costs. This is the same reasoning that prevails amongst the majority of the nation’s health insurers, but the notion has yet to gain traction amongst lawmakers, who have been tasked…

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New York health insurance rates cou...
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New York insurance agents lobby for change

The New York City Department of Buildings says that it will be making changes to its general liability insurance requirements for contractors working in the city. Insurance agents are closely watching the government agency, hoping that the changes will be more lenient on contractors than those made in the past. Earlier this year, the department issued sweeping changes to its regulations regarding liability insurance. The majority of the changes were met with sharp criticism from contractors and insurance agents for making coverage virtually impossible to obtain. The department has taken…

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