This weekend marks the tenth anniversary of the September 11 attacks which brought down New York City’s World Trade Center. Since the attack, the political landscape has changed dramatically, a shift that has been mimicked throughout society as terrorism more people became aware of terrorism. Many things changed in the wake of 9/11, and while many of these changes resided within the boundaries of the nation, the entirety of the world’s insurance industry underwent a drastic shift. The Insurance Information Institute (I.I.I) has been studying the changes in the worldwide…
Read MoreTag: us insurance companies
Basic highlights on top four insurance companies to help consumers
Throughout the financial crisis over the last few years, a number of insurance companies faced a significant struggle, leaving people to wonder about the top insurers after having seen the global giant American International Group (AIG) fall apart. In order to help consumers to better understand the current the insurance marketplace, experts have compiled some notes about the top four leading companies. Progressive is among the biggest American auto insurance companies. It provides standard vehicle insurance as well as products for specialty vehicles such as ATVs, mobile homes, motorcycles, boats…
Read MoreOregon faces lawsuit after state’s insurance plan denies coverage for transgendered public employee
Gender identity can be a sensitive issue, and one rarely touched upon by the insurance industry. Indeed, there are few occasion on which the insurance industry would get involved in such issues. Oregon, however, is among the first states in the U.S. to be subject to a lawsuit filed by a transgendered public employee. The lawsuit stems from the state’s health care insurance plan denying to pay for a medical procedure. Oregon’s public employee benefits board is being accused of discrimination in regard to gender identity. Alec Esquivel, a 41…
Read MoreIndiana insurance commissioner pleas for MLR exemption as insurers flee the state
According to the Affordable Care Act (ACA), the sweeping health care reform signed into law last year, U.S. insurers are required to spend a minimum of 80% of the premiums they collect on patient care. If they do not meet this new standard, they will be forced to issue rebates to policyholders to cover the shortfall. This provision of the controversial health care law has been criticized by the nation’s insurance companies, with many claiming that it impedes their ability to not only compete in the market but also generate…
Read More