Tag: insurance

Insurance Companies Hope Health Care Bill Changes Balance

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Will the California insurance commissioner be state Sen. Ricardo Lara in 2018?

Lara announced that he will be running for the position next year on the heels of a state health care system proposal. Senator Ricardo Lara (D-Bell Gardens) announced his intention to run for California insurance commissioner in 2018. This, only one month after submitting a proposal for a single-payer state health care system. This makes…

Will California flood insurance be better without federal involvement?

The state is considering dropping out of the nationwide program in favor of establishing its own. California flood insurance found itself in the spotlight last month when the Oroville Dam threatened to fail. Erosion at the base of the dam’s emergency spillway forced the evacuation of 180,000 people until the area could be deemed safe…

Private crop insurance companies see shrinking returns, says study

These insurers have experienced a notable drop in their returns since the SRA was renegotiated in 2010. Private crop insurance companies are experiencing a notable downward trend in their return figures. This has been a consistent situation since the Standard Reinsurance Agreement (SRA) was renegotiated in 2010. The SRA renegotiation between insurers and the federal…

New life insurance rules could make rates noticeably cheaper

People who have hesitated to purchase a policy may find that they have new motivation on its way. Changes to life insurance rules in all states except three are more than likely to bring rates down by a considerable amount. There have already been at least two insurance companies that have decreased their term life…

Michigan auto insurance headed even higher with no-fault fee hike

Drivers in the state are already paying some of the highest premiums in the country and that price is rising. Michigan auto insurance is going to be even more expensive as the no-fault fee increases this summer. Drivers in the state will be paying $10 more to insure their vehicles. The purpose of the no-fault…

SpaceX pre-launch liability insurance massively increased following FAA requirement

A new mandate was put into place which increased the minimum coverage requirement by five times. SpaceX changed its launch schedule to today at 1:35am but was required to carry far more pre-launch liability insurance than it previously held. The launch had been postponed as a result of high winds at Cape Canveral. SpaceX will…

Flood insurance program cuts may pay for Trump’s Mexican border wall

Funding reductions to the Federal Emergency Management Agency (FEMA) may divert cash to cover the wall. Reports published by Politico and the Washington Post based on internal budget documents they recently obtained could mean money from the flood insurance program will be diverted to cover President Trump’s border wall between the United States and Mexico….

AIG insurance company CEO steps down following huge loss

Peter Hancock has opted to leave his current position with the insurer following a tremendous loss. It has been only three weeks since the report of massive losses from AIG and the insurance company CEO, Peter Hancock, has chosen to step down from his position. Hancock has been the AIG CEO for less than three…

Insurance industry slams Paul Ryan for lack of comprehension

The internet and social media lit up when the Speaker of the House of Representatives made a strange declaration about health insurance. The insurance industry was shocked by a recent statement from Speaker of the House of Representatives, Paul Ryan. He recently expressed his displeasure with the fact that premiums from healthy individuals are being…