A new report from the non-profit research organization Climate Central suggests that millions of U.S. citizens are at risk of coastal flooding. The report posits that changes in the climate will result in storm surges and rising sea levels. Rising water could put nearly 5 million Americans at danger of floods by 2030. The report indicates that by 2050, flooding caused by rising sea levels will be much more widespread. This could cause serious problems for the insurance industry that has been battling a higher frequency of natural disasters over…
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Ballot initiative faces opposition from California insurance companies and doctors’ group
The California Medical Association (CMA), a health insurance organizations coalition, the California Hospital Association (CHA), and other groups have announced their intentions to work together to oppose a ballot measure that is meant to create California insurance regulation for rate increase on health plans and policies. According to the CMA president-elect, Paul Phinney, this ballot initiative doesn’t do anything to help control the causes of the cost increases in the healthcare system. He added that “I just think this initiative is the wrong idea.” Ballot measure advocates have said that…
Read MoreSupreme Court to begin litigation on Affordable Care Act this month
This month, the U.S. Supreme Court will begin litigation on the controversial Affordable Care Act. The federal law seeks to radically change the structure of the country’s health care industry and introduces new insurance regulations that are aimed at benefiting consumers. The Act was signed into law in 2010 and has since been a point of contention for political leaders and legislators throughout the U.S. Many states have backed the Affordable Care Act, but others have filed lawsuits against the federal government, accusing the law of being unconstitutional. The Supreme…
Read MoreHealth insurance analysis suggests that insurance may be completely unaffordable by 2031
Two leading medical professionals have published a new analysis of the future of health insurance in the latest issue of Annals of Family Medicine. Richard A. Young and Jennifer E. Devoe have taken a look at the Affordable Care Act and how it will affect the health insurance industry from when it is fully enacted in 2014 to the state of the industry in 2037. The study assumes that the federal health care law is successful in its goal of lowering health insurance premiums. Despite this supposed success, the study…
Read MoreNorth Korea establishes its first international investment insurance firm
A surprising development in the global insurance industry: North Korea has established its first investment insurance firm. The firm’s aim is to attract foreign investments to the troubled country. It is expected that the North Korean firm will purchase reinsurance policies from international companies and offer this coverage to companies looking to do business within its borders. The firm is being built to mimic an insurance system in South Korea, which has served as a way to help business owners recover from financial losses due to risky investments. Because of…
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