Tag: insurance trends

Health insurance rates to go up in Massachusetts

Marc
Massachusetts health Insurance

Consumers and businesses will see a modest increase in insurance premiums Health insurance premiums are set to grow in Massachusetts, as regulators have approved rate increases for small groups and individuals. The state will see a modest increase in rates when compared to others in the country. The Massachusetts Division of Insurance has posted information concerning the rate increases, providing consumers with an opportunity to review the rate increases coming from insurers and see how it will affect them and the coverage that they have. 300,000 people to be affected…

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Insurance industry needs to evolve to handle greater risks

S.Vagus
life insurance industry canada

Canada’s insurers, and other parties, will have to adapt to the growing frequency of natural disasters Severe weather is beginning to have a major impact on Canada’s insurance industry. As powerful storms hit populated areas, claims are beginning to apply significant financial pressure on insurance companies offer coverage for property and vehicles. The Insurance Bureau of Canada believes that the time has come to address the rising costs associated with severe weather. Doing so may help mitigate the costs that consumers see and help the insurance industry become more resilient…

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Health insurance company to put its individual PPO plans to rest

Marc
Texas health Insurance companies

Blue Cross Blue Shield of Texas will begin phasing out its PPO coverage Blue Cross Blue Shield of Texas has announced that it will be phasing out its PPO coverage for individuals. The health insurance providers is doing so because it believes that offering this coverage is no longer financial sustainable. Those with PPO coverage from the insurer will have to switch to HMO plans as a result. Notably, the company’s PPO plans will continue to be offered to employers and group PPO plans will still be available. Cost of…

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Covered California launches massive health insurance data collection campaign

S.Vagus
California health insurance

Covered California will be collecting data to better understand the insurance market California’s health insurance exchange, called Covered California, is set to launch a large-scale data-mining project that will aim to shed light on the way people are using their insurance coverage. The organization will collect information from the insurance companies providing policies through the exchange and it will also collect data concerning how these policies are used. Covered California will also record doctor visits, hospital stays, and prescription information. Some are concerned about the security of their information With…

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Current insurance trends aren’t enough protection from climate change

Julie Campbell
Natural Disaster damage insurance trends

Wealthier nations can afford the premiums for coverage but poorer countries don’t have that privilege. The insurance trends that are currently in place do have a focus on providing protection for those who are the most vulnerable against the types of peril that the weather can cause, particularly in the case of farmers who are the primary suppliers of food. But as extreme weather becomes more commonplace, some wonder whether these efforts will be enough. While many believe that the necessary arrangements will be possible to protect against the damage…

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