Tag: new york

New health insurance company aims to revolutionize health care in New York

S.Vagus
New York Health Insurance

Newly formed health insurance company will debut with New York’s insurance exchange A new health insurance company is set to make its debut when New York’s insurance exchange, called New York State of Health, begins open enrollment on October 1. The company is called, simply, Oscar, and aims to take a new approach on how coverage is offered to consumers throughout the state. The company was founded by Josh Kushner, Kevis Nazemi, and Mario Schlosser, all of whom have participated in entrepreneurial ventures in the technology industry. Company aims to…

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Aetna pulls out of New Jersey health insurance exchange

Logan B.
New Jersey Health Insurance

Company opts to not participate in state health insurance exchange Aetna, one of the largest health insurance companies in the U.S., has announced that it will not be participating in the New Jersey health insurance exchange. The exchange is set to begin open enrollment on October 1 this year, and is meant to provide consumers with access to affordable health insurance plans. Aetna was expected to be a prominent participant in the exchange, but disagreements with state officials may have discouraged the company from participating in the state’s exchange. Aetna…

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Health insurance rates in New York drop by 50%

S.Vagus
Health insurance rates

Health insurance premiums are plummeting in New York Health insurance rates are rising throughout the U.S. as insurers prepare to comply with the various regulations being introduced with the Affordable Care Act. These regulations are placing more stringent requirements on insurers, effectively raising the costs associated with administration and general business while also lowering their ability to generate profit. In New York, however, health insurance rates for individuals could plummet due to the state’s health insurance exchange program. Officials approve 17 affordable plans from insurers New York officials have approved…

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Homeowners insurance providers fleeing New York markets

S.Vagus
New York power outage from Hurricane Sandy- Homeowners Insurance fraud Coverage

Hurricane Sandy continues to have an impact on homeowners insurance Homeowners insurance in the U.S. has been in a tumultuous state since the impact of 2012’s Hurricane Sandy. More than six months after the storm struck the East Coast, the homeowners insurance sector continues to reel from the damage that had been caused by the catastrophe. In recent months, the states affected by the storm have garnered relatively little attention, but New York officials are beginning to voice their concerns regarding the recent actions of some insurance providers. New York…

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Mayor Bloomberg looks for alternative to flood insurance

Logan B.
Flood Insurance and reinsurance

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

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Flood insurance rates to spike in New York and New Jersey

Logan B.
national Flood Insurance program tips

Flood insurance rates expected to rise in wake of Hurricane Sandy More than six months have passed since Hurricane Sandy barreled into New York and New Jersey. The two states suffered horrendous damage from the storm, but not from its strong winds. Floods caused the majority of the damage associated with Hurricane Sandy, which has proven to be a problematic issue for the victims of the powerful storm, especially those without flood insurance protection. The uninsured and the uninformed suffered serious losses due to the storm, with most believing their…

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New York regulators question insurance industry over cyber security preparedness

S.Vagus
cyber insurance

Insurance industry facing challenges in digital world Cyber security is becoming a major issue throughout the U.S. and the insurance industry is beginning to feel the pressure to become more prepared to deal with the threats that exist in the digital world. The insurance industry is well attuned to risks, but hackers and other malicious groups represent a risk that is nearly impossible to quantify due to the rapidly changing nature of the Internet and how data is being used and stored. In New York, insurance regulators are beginning to…

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