Ohio Department of Insurance Archives

Health insurance controversy ignites in Ohio

June 11, 2014June 10, 2014 Nordstrom

Controversy over sub-standard insurance policies in Ohio begins to brew New controversy has been sparked in Ohio concerning health insurance coverage and the Affordable Care Act. The state’s insurance companies are letting old insurance policies that do not comply with current federal standards expire. These policies had been allowed to exist due to changes made to the Affordable Care Act in order to ensure that those that could not access the state’s insurance exchange would remain insured. Whether or not these policies would be allowed to expire in Ohio is…

Health insurance rates set to spike in Ohio

June 12, 2013June 10, 2013 Marc

Health insurance rates could be growing due to the Affordable Care Act The Affordable Care Act looms in the near future and stands poised to issue the last of its major changes to the health insurance sector of the U.S. The federal law has been the subject of controversy and harsh criticism since it was passed in 2010, but has not yet been derailed in any significant fashion. The law has already introduced many changes to the health insurance sector, including the introduction of health insurance exchanges, which are meant…

Insurance fraud becoming more prolific in Ohio

March 4, 2013March 3, 2013 S.Vagus

Ohio continues to grapple with insurance fraud Insurance fraud hit a high in Ohio last year, according to the state’s Department of Insurance. The state agency has released data concerning the reports of insurance fraud and agent misconduct it had received throughout 2012. Regulators have been working to rein in on fraud throughout the state more aggressively. Fraud is often one of the major contributory factors to rising insurance prices, and regulators are keen to keep insurance rates manageable for consumers throughout Ohio. Agency received 7,274 allegations of insurance fraud…

Insurance news brings Permanent General into the American Family fold

January 5, 2013April 30, 2013

The large insurer has now completed the acquisition that it had previously announced. American Family has made insurance news by completing the acquisition of Permanent General Companies, as well as other PGC Holdings Corp. subsidiaries. The purchase of the Tennessee based company had been previously announced and have now been completed. The transaction was for a reported $239 million, which was paid to Capital Z Partners, the previous majority owner. It had been awaiting its final step in order to close the insurance news deal, which was the approval from…

Ohio home to some of the lowest insurance rates in the country

August 31, 2012August 31, 2012 S.Vagus

Department of Insurance releases report on insurance rates The Ohio Department of Insurance has released a new report that shows that the state boasted of some of the lowest homeowners and auto insurance rates in the country. The agency compiles data concerning homeowners and auto insurance rates every year and provides information concerning how the state ranks with others on the matter of premiums. According to the report released by the agency, Ohio is home to the 10th lowest auto insurance and 6th lowest homeowner’s insurance rates based on 2011…

Costly Ohio insurance exchange may have to team with the federal government

October 7, 2011May 8, 2013

Independent IT consultants in Ohio were tasked with calculating the cost of an insurance exchange in the state earlier this year. The state is required by federal law to establish an exchange by 2014 in an effort to streamline health insurance. The undertaking is in no way small, as a great deal of digital infrastructure must first be made, the price of which may be daunting. According to the state’s consultants, the technology alone will cost $63 million. The sum is quite high when compounded by the additional expensive associated…