Live Insurance News

State insurance regulators start approving rate hikes to cover Trump’s slashed subsidies

October 27, 2017October 26, 2017 Nordstrom

trump health insurance regulators premiums rates

Officials in Maryland have already given their approval to the last minute increases, but others are following. Insurance regulators in many states are starting to look into last minute health plan rate increases to compensate for the elimination of Affordable Care Act subsidies. Michigan officials have warned that they are already looking into the increases that they are likely to approve. At the same time, Maryland insurance regulators have already given their approval to the rate hikes. These increases are a direct response to President Trump’s executive order that eliminated…

Auto insurance rates are strikingly higher in some states than others

August 24, 2016August 22, 2016 Logan B.

A new study has revealed a major difference in premiums and Alabama drivers continue to pay more. Quadrant Information Services and insuranceQuotes.com have jointly released an auto insurance rates study. Within it, they named Alabama as the fourth most expensive state for drivers to be insured. The research examined some of the factors that play a role in making this coverage more expensive. What was found was that Alabama drivers pay more in auto insurance rates because of state regulations. Insurance companies in the state are permitted to use driving…

Zenefits under investigation by California insurance regulators

February 16, 2016February 13, 2016 G. Turner

The software company has now had its business practices called into question and officials will be examining them. Zenefits, a software company, is now facing an investigation by California insurance department officials, as the firm’s business practices have been called into question. The California Department of Insurance released a statement with regards to the investigation that launched last year. While the California insurance officials have only just recently announced that they are looking into Zenefits and the way it conducts its business, it also stated that its efforts started back…

Zombie insurance regulators attack the “walking dead”

April 2, 2014April 12, 2014 Julie Campbell

Just as the popular AMC television series closes its fourth season, its coverage equivalent is now under attack. Zombie insurance has been making headlines, not because it has any relation to the popular post-apocalyptic horror drama from AMC, or the “walking dead” that has given the show its name. Instead, it is central to insurance news as consumers and regulators combat pricing discrepancies. The Financial Conduct Authority (FCA) in the United Kingdom has indicated that while new customers are being offered better deals, loyal policyholders who have been paying premiums…

Insurance news from Kansas unveils Commissioner’s new team

December 12, 2012December 10, 2012 H. Cutner

The new top staffers for the state’s industry regulator have now been named. The latest insurance news from Kansas has announced that the commissioner for the state, Sandy Praeger, has just appointed a new assistant commissioner, as well as a general counsel, with a staff shuffle. These decisions followed the departure of the commissioner’s top deputy. The promotion from Praeger was given to Zachary Anshutz, who had previously been the general counsel and who is now assistant commissioner. Anshutz will be replacing the former assistant commissioner who has since left,…

Governor Christie prohibits hurricane deductibles

November 6, 2012November 5, 2012 Marc

New Jersey homeowners protected from hurricane deductibles by executive action New Jersey Governor Chris Christie has signed Executive Order 107, which will prohibit insurance companies in the state from imposing hurricane deductibles to homes that were damaged by Hurricane Sandy. The now notorious “superstorm” wrought havoc through much of the northeastern U.S. in late October. The storm hit New Jersey particularly hard as it made landfall, causing catastrophic damage to homes and state property. In a move to help save homeowners from the costly implications of hurricane deductibles, Governor Christie…

Missouri Insurance Department recovers funds amidst swarm of complaints

October 24, 2012April 30, 2013

Missouri Insurance Department fields 26,000 consumers complaints The Missouri Insurance Department is fielding some 26,000 consumer complaints concerning the coverage they receive through the state’s insurance companies. This week alone, the agency has received more than 10,000 complaints and inquiries regarding the practices of insurance companies. On average, the agency typically receives 16,000 complaints throughout the course of an entire year. Spurred by these complaints, the Missouri Insurance Department has reclaimed some $7.7 million that will be returned to the state’s insurance consumers. Common complaints involve health insurance The most…