Live Insurance News

National Flood Insurance Program continues to struggle from financial losses

August 31, 2015August 30, 2015 S.Vagus

10 years after Hurricane Katrina, federal program is still financially crippled More than 10 years have passed since Hurricane Katrina hit the United States, and many homeowners are still reeling from the damage caused by the catastrophe. Homeowners faced one of the most expensive disasters in the history of the country and its insurance industry, with some $80 billion in losses, with another $16.1 billion in flood insurance claims. The hurricane, as well as other storms that hit the country between 2008 and 2012, caused serious problems to the National…

Geico agrees to pay $6 million auto insurance settlement in California

August 28, 2015August 27, 2015 Logan B.

Geico has agreed to pay a settlement concerning accusations of discriminatory practices Geico, one of the most prominent auto insurance providers in the United States, has agreed to pay $6 million in order to settle bias charges made against it, which were first raised by the Consumer Federation of California. The charges have to do with the insurer discriminating against drivers regarding their gender, education level, and occupation when they sought out quotes for policies online. The insurers will be paying the $6 million settlement over the course of three…

Senator Rubio outlines plan to address health insurance system in the US

August 21, 2015August 19, 2015 S.Vagus

Rubio provides insight into his plan to reform health care The political wheel in the United States has begun to turn once again as presidential campaigns begin to kick off throughout the country. Many have announced their campaign for the presidency, including Senator Marco Rubio, who believes he may be able to change the way the country’s health care system works. Senator Rubio recently outlined his plan to change the health care system and how health insurance works, seeking to make the most significant changes the country has seen since…

Millions of people have found health insurance coverage in the US

August 19, 2015August 17, 2015 S.Vagus

Survey shows that 7 million people have found coverage through exchanges in the US The National Center for Health Statistics has released the results from a new survey, showing that more than 7 million people have managed to find health insurance coverage due to the provisions of the Affordable Care Act. The federal law had generated a great deal of controversy as it made its way through the legislative process, with many lawmakers suggesting that it would do more harm to the country’s health care system than good. In most…

Health insurance exchanges serve as effective safety net

August 18, 2015August 15, 2015 Logan B.

online health insurance technology exchange

Federal data shows that consumers can find coverage through exchanges if they have lost their insurance Health insurance exchanges in the United States are performing well as a safety net for those that lose their coverage. The federal government has released data concerning how exchanges operate as a safety net, which is something that is often overlooked by those involved in the insurance sector. These exchanges were meant to expand the availability of insurance coverage to millions of consumers, but they have also managed to ensure that people have a…