The state scheduled the webinar to be open to the public to address rapidly rising premiums. The Nevada Division of Insurance recently held a live webinar to provide the public with an opportunity to discuss the rising cost of auto insurance in the state. The event on the subject was held on November 1 and ran from 10:00 am through until 11:30 am. The webinar was meant to address the rapidly rising auto insurance rates in the state, which have been climbing as has been the case across the country.…
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Nevada Division of Insurance announces health insurance rate increases
State agency provides information concerning growing insurance premiums The Nevada Division of Insurance has announced rate increases that will affect health insurance policies in 2016. The state’s acting Insurance Commissioner Amy Parks notes that consumers benefit from an aggressively competitive market, where 18 different carriers provide coverage every year. The competition in the market has allowed insurance premiums to remain relatively stable, reducing the financial pressure on both consumers and businesses alike. Rates for policies sold through the exchange will grow by an average of 8.7% According to the Division…
Read MoreOklahoma insurance industry could shift in race for new Insurance Commissioner
Viner and Doak will compete for the position of the state’s Insurance Commissioner The race for Oklahoma’s next Insurance Commissioner is on and insurance rates may decide the victor. The state’s current Commissioner, John Doak, will compete with Bill Viner, an auditor for the Oklahoma Tax Commission. While Viner is a relative newcomer to the state’s political scene, he has set his sights on addressing the issue of insurance rates and the financial burden they represent. Homeowners insurance rates, in particular, are expected to receive a significant amount of attention.…
Read MoreCancelled policies in Nevada to stay cancelled
Health insurance policies in Nevada remain cancelled The Nevada Division of Insurance has announced that all health insurance policies that were cancelled due to the Affordable Care Act’s provisions cannot be renewed in the state. This decision came after consulting with the attorney general’s office and meeting with several executives from insurance companies operating in Nevada. The logistics involved with reversing cancellations, especially after notices had already been sent to policyholder, have been deemed too extreme to be viable. 25,000 consumers forced to find new policies Some 25,000 Nevadans have…
Read MoreNevadans caught in health insurance limbo
Some 25,000 in Nevada receive health insurance cancellation notices Many consumers in Nevada are currently in a state of limbo concerning their health insurance coverage. Approximately 25,000 people throughout the state have received cancellation notices from their insurance providers, but whether or not these cancellations will actually occur is still up for debate. Policyholders are currently waiting on state officials to determine if these cancellations will bear any weight and whether health insurance plans that do not comply with federal standards should be allowed to remain active. Regulatory shift could…
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