Live Insurance News

Auto insurance set to rise in Michigan

April 4, 2013April 3, 2013 Logan B.

Auto insurance fee set for 6% increase on July 1 The Michigan Catastrophic Claims Association, a non-profit, state-backed organization that helps support the auto industry, has announced that drivers can expect to pay more for their auto insurance coverage beginning this year. According to the organization, the annual fee that is associated with auto insurance policies will rise by 6% on July 1 of this year. This fee is levied on policies to help cover the costs of personal injury and the state’ no-fault auto insurance rules. Fee designed to…

Louisiana home to most expensive auto insurance coverage in the US

March 23, 2013March 21, 2013 G. Turner

Survey shows Louisiana leads in terms of auto insurance costs Insure.com, an online insurance marketplace, has released its latest annual survey concerning the average cost of auto insurance throughout the U.S. The survey highlights the cost of auto insurance rates in all states, showing how much consumers can expect to pay to cover their vehicles. This year, the survey shows that Louisiana is at the top of the list of states where auto insurance coverage is most expensive. Maine is the state with the lowest average auto insurance coverage rates.…

National Insurance Crime Bureau finds high level of insurance fraud in Florida

January 25, 2013January 23, 2013 Marc

Florida leads the country in insurance fraud, according to National Insurance Crime Bureau Florida has attracted a significant amount of focus when it comes to fraud in its insurance sector over the past few years. The state’s no-fault auto insurance laws, and some regulations concerning homeowners insurance, have allowed the sector to be easily manipulated and exploited in the past. State legislators recently began overhauling Florida laws to cut down on fraudulent activities, but have found only modest success. The National Insurance Crime Bureau has released new information showing that…

Affordable Care Act continues to cause controversy

December 5, 2012December 4, 2012 Marc

homeowners insurance policy multiple claims

Potential problems begin to emerge for the Affordable Care Act There is no shortage of controversy when it comes to the Affordable Care Act in the U.S. The federal law was passed in 2010 and has been the crux of political conflict ever since then, with many politicians claiming that it oversteps the federal government’s boundaries in terms of authority. Earlier this year, the law made its way to the Supreme Court, where Justices debated the constitutionality of the Affordable Care Act and its various provisions. Though the Justices showed…

Study shows health insurance rates are rising at slow pace

November 4, 2012November 4, 2012 S.Vagus

Blue Cross Blue Shield report highlights state of health insurance rates in Michigan Michigan’s Blue Cross Blue Shield has released a new study concerning the pace at which health insurance rates are rising in the state. In Michigan, and many other states in the U.S., health insurance rates are on the rise. Some claim that this is due to the federal health care law that has caused a somewhat dramatic shift in regulations. Many insurers claim that rates are only rising to account for the cost of medical care. Whatever…

Michigan health insurance exchange may be passed to federal government

August 25, 2012April 30, 2013

Michigan struggles with building an exchange program Michigan has been grappling with setting up its own health insurance exchange. The state is required to build an exchange by federal law. The Michigan health insurance exchange would provide residents with access to affordable insurance coverage and would likely create more competition in the state’s insurance industry. Governor Rick Snyder has announced that the state may petition the federal government to take over the effort and run the exchange itself. This would mean that the Michigan health insurance exchange would not actually…