Live Insurance News

New York health insurance exchanges has more than 2 million people enrolled

February 9, 2015February 7, 2015 S.Vagus

State’s insurance exchange manages to reach a new milestone this year New York’s health insurance exchange has reached a new milestone. According to officials with the New York State of Health, which is the state’s exchange marketplace, some 2,004,827 people have enrolled for health insurance coverage. Exchange officials note that 89% of those signing up for insurance through the exchange had no previous coverage. Governor Andrew Cuomo suggests that this is a major step forward in the state’s continued efforts to make health insurance coverage more available. Many people enrolling…

Drivers may be paying too much for auto insurance coverage

January 28, 2015January 27, 2015 Nordstrom

Survey suggests that drivers are paying more than they should for insurance coverage Many drivers in the United States may be paying too much for auto insurance coverage, according to a survey from NerdWallet. The survey drew information from 1,000 zip codes throughout the country, including the average rates that insurance companies charge for covering drivers and their vehicles. The survey found that, on average, prices in auto insurance coverage varied by 154% based on zip code. NerdWallet suggests that those shopping around for coverage could find significant savings. Drivers…

New York law helps ensure the longevity of life insurance benefits

December 3, 2014December 1, 2014 S.Vagus

Governor Cuomo signs legislation focused on life insurance coverage into law A new law in New York will ensure that consumers will get to keep their life insurance policies if their issuing insurer goes out of business. The legislation was signed into law by Governor Andrew Cuomo, who believes that the law is necessary to ensure that consumers retain the coverage that they rely on. Typically, if an insurance company goes out of business, the policies it was responsible for become void, unless they are purchased by another insurance provider.…

Health insurance rates could spike in small states

November 13, 2014November 12, 2014 Nordstrom

Baby boomers relying more heavily on medical care could lead to a surge in spending Baby boomers are entering their “golden years” and this may have a significant impact on health insurance premiums for everyone else. An estimated 76 million people from the baby boomers generation are expected to create a surge in spending on prescription medications, health care, and hospice car. This may become a major financial issue for insurance companies, with insurers like UnitedHealth and WellPoint seeing few other options than raising rates. For some states, premiums may…

New York help line helps resolve problems with health insurance

October 10, 2014October 7, 2014 S.Vagus

Help line established in New York helps consumers voice their complaints about the insurance idnustry A help line established by the New York Attorney General’s Office has helped return millions of dollars to state residents that have been overbilled on their health insurance policies or were denied benefits by their insurer, according to Attorney General Eric T. Schneiderman. The help line was put in place in 2011, giving New York residents an opportunity to voice their concerns regarding insurance companies and how they conduct business. More than $12 million returned…

Auto insurance rates are high in Detroit

September 16, 2014September 17, 2014 S.Vagus

Detroit is home to some of the highest car insurance rates in the country Owning a vehicle in Detroit, Michigan, is quite expensive, according to a new study from InsuranceQuotes.com. The study highlights the cost of auto insurance coverage throughout the U.S., taking note of where insurance rates are highest. Notably, Detroit is home to some of the highest insurance premiums in the U.S. The city’s rates are even higher than those found in New York City, where auto insurance has long been plagued by fraud and other issues. Rates…

Auto insurance fraud ring disrupted in New York

August 26, 2014August 25, 2014 Marc

38 people involved in large fraud operation in New York have been indicted A large auto insurance fraud ring has been disrupted in New York. According to the Northwestern District Attorney’s Office, 38 individuals have been indicted on insurance fraud charges from grand juries in Hampshire and Franklin counties. These people are alleged to have been participating in auto insurance within their local areas and within New York City itself. The indictments come on the heels of the completion of a year-long investigation from the Insurance Fraud Bureau of Massachusetts.…