State Secretary of Agriculture Mike Naig is reminding farmers of the January 14th deadline. Iowa Secretary of Agriculture Mike Naig has released a reminder to farmers and growers across the state who intend to apply for the crop insurance discount in the state. The deadline of January 14 is rapidly approaching, and Naig is reminding those who plant cover crops to apply on time if they believe they are eligible. Eligible applicants will receive a discount of $5 per acre discount on their spring premiums. Applicants eligible for the discount…
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Iowa makes insurance news for largest industry GDP in the US
The state is home to the headquarters of over 180 insurers and is thriving from this sector. Iowa is making unique insurance news this week as the state has been marked as receiving a higher percentage of its Gross Domestic Product (GDP) from that industry and the finance industry than any other state. This, according to a recent announcement from Debi Durham, Iowa Economic Development Authority director. With over 180 insurers headquartered in the state, this has become a critical part of its GDP. Iowa’s primary reputation hasn’t necessarily been…
Read MoreIowa insurance commissioner cautions against cryptocurrency investments
Bitcoin and other cryptos have seen hot headlines but many think they’re in a bubble that will burst. Iowa Insurance Commissioner Doug Ommen issued a consumer bulletin warning state residents against investing into cryptocurrencies such as Bitcoin unless they understand the risks. The insurance commissioner pointed out that there is a meaningful difference between IPOs and ICOs. According to the Iowa insurance commissioner, people need to know the risks associated with investments into cryptocurrencies before putting money into them. This is a very new market and concept. They are not…
Read MoreAetna health insurance backs out of Iowan individual exchange
A second large insurer has announced its intention to step out of the state, leaving residents in a lurch. Aetna health insurance has revealed its intentions to withdraw from the Iowa individual marketplace. This raises concerns that residents will not have any coverage options available for 2018. Tens of thousands of Iowans who purchased health plans through the insurance exchange may be out of luck. The Aetna health insurance exchange withdrawal will be effective as of January 2018. The insurance company informed state regulators that it has chosen to cease…
Read MoreIowa Insurance Commissioner Gerhart to step down before the end of the year
The governor’s office has announced that the commissioner will be leaving his post as of December 23, 2016. The Iowa Governor’s Office has announced that Insurance Commissioner Gerhart has resigned. It stated that the resignation of Nick Gerhart will become effective as of December 21, 2016. The outspoken commissioner said in an interview this week that he had opted not to pursue another term. Commissioner Nick Gerhart has held the position in Iowa since February 1, 2013. Insurance Commissioner Gerhart’s wife, Jessica, is expecting their first child, who is due…
Read MoreInsurance industry jobs get a trendy makeover to appeal to millennials
Iowa brokerage Holmes Murphy is taking aim at old stereotypes of dullness and daily tedium. The vice president of Iowa brokerage Holmes Murphy, Cameron Burt, is more than familiar with the reputation of dullness that is associated with insurance industry jobs, but at a time when it is becoming difficult to fill these positions, his firm is seeking to show the millennial generation that times have changed. The image of an insurance job doesn’t seem to have changed for two solid generations, losing all appeal. However, Burt and his firm…
Read MoreIowa public universities owe millions to insurance company
The post secondary institutions have refused to pay for a health plan subsidy program but they still owe the money. Public universities in Iowa have been standing their ground and refusing to pay an insurance company millions of dollars in fees which would cover a program meant to provide residents with medical risks with a subsidy for their health plans. The universities had been billed for the fees but until now have refused to fork over the money for it. That said, the Iowa Supreme Court recently ruled that the…
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