Without being too specific, President Obama signaled a willingness to consider changes to the Patient Protection and Affordable Care Act (PPACA) during his State of the Union speech last week. The only detail referenced, though, was the proposed elimination of a tax-reporting provision of the law that is unpopular with small businesses because of the new administrative burdens it creates. The provision mandates that small businesses provide a 1099 form to any entity from which they purchase more than $600 in goods and services, starting in 2012. The proposed elimination drew bipartisan applause during the speech. But if both sides of the aisle appear to like that particular revision, it is far less clear that consensus can be reached on any of the other proposals floated so far.
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Why you can get the serious consequences without health insurance...
Many lives have been destroyed by not being covered by insurance. If this sounds like a warning, it could very well be a revival. In our modern world, we need laws for protecting ourselves and others. Auto insurance laws is a good sample. Other instances without insurance could be catastrophic if you do not have homeowners insurance, life and medical insurance. Each of us wants to live a long healthful life. Read...
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A life insurance policy is your support in stressful life...
Safety is a pillar of our life. This is so because life in danger is not really life, and we do not need danger in its overall meaning. Your health may be at risk, your finances and your life can be too. All that can go wrong in a second. Of course, we do not want to think or imagine that, but we’ll do it for a second. Read...
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How you should choose a pet insurance coverage...
Get a pet insurance for your four-legged friend is something you need to consider whether you want to avoid huge unexpected vet bills in the future. This research will help you choose the insurance plan for your pets. When shopping for pet insurance to compare the best insurance pet care among all the plans out there, you need to know what to look for. You certainly want to find the best insurance for your pets well-loved, and there are many...
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How renters should buy home insurance...
As a homeowner you need to buy insurance when you take possession of your house. You buy because the insurance will defend you against the costs undergone by acts of nature and man. Things like a new roof, repaired basement or other harm are costly and you need a blanket. Insurance will help you with other events such as theft, fire and injury. Most insurance companies that sell insurance for owners will also sell home insurance to people...
Marsh comment on companies affected by Egyptian crisis
Companies are re-assessing the adequacy of their insurance coverage and risk management arrangements in the wake of political unrest in Cairo and other cities across Egypt, Marsh has reported.
NYSID Website Has New Page on Modernization Initiative
I have previously written about the Modernization Initiative. (See 12/3/2010 post.) Today the NYSID unveiled a new page on their newly designed website devoted to the Initiative. In addition to the final report of the committee looking at modernization, there is the previously announced first-ever webinar on doing “me too” property and casualty filings. Most interesting are the updates as of January 11, 2011 that are provided on that page. It is great to see some of the recommendations coming to life and being implemented.
Conseco Life Insurance Blocked from Boosting Rates for Elderly Policyholders
Indiana-based life insurer, Conseco, was blocked from a plan to raise policy rates for more than 50,000 mostly elderly policyholders this week. A federal judge in Los Angeles ruled against the life insurance company that wanted to triple its rates for specific customers.
Judge Decides Increases Would Breach Contract
Conseco Insurance Co. proposed to increase its rates back in 2002 before it filed for Chapter 11 bankruptcy protection. The increases, which were to take place when its customers’ policies reached their 21st year, would have tripled some Valulife and Valuterm policies in 2010 and 2011.
With increases ready to take effect last year, a class-action suit was filed against the company, which was heard before a Los Angeles judge on Wednesday.
In the hearing, District Court Judge A. H
More Departures from VA Line?
In a recent article by Darla Mercado in Investment News, “Other VA players may follow Genworth out door” she reports on the motivators behind company decisions to leave or reduce their activity in the VA market and low interest rates lead the list. Quoting Clark Troy, an analyst with Aite Group, LLC, the article states: “If we stay in a low-interest-rate environment, I wouldn’t be surprised to see more carriers pull out of or de-emphasize the issuance of variable annuities.”
One of the factors that some analysts looked to as warning signs that carriers are scaling back VAs is the lack of product development. As someone who sees a lot of products before they get filed for approval, I was particularly interested in this piece of the analysis.
Individual Health Insurance Legislative Update January
The Department of Health & Human Services (HHS) has released a proposed regulation that would institute a new review process for requests by individual health insurance companies for rate increases.
The proposed rule, announced Dec. 20, 2010, would institute a new review process that may be administered by states if HHS determines that they have an “effective” rate review program, or by HHS if a state process is not considered effective. HHS expects to implement the new process by July 2011.
HHS proposes that this process become effective for rates filed or in use on or after July 1, 2011, in the individual health insurance and small group markets. Thi
Biggest Failed Attempts to Collect Life Insurance Money
We always hear stories of crazy individuals taking the lives of their loved ones to claim life insurance money. It happens so often that many people spend time scrutinizing potential beneficiaries so that they don’t have to fear being poisoned in the near future.
The good news is that among the tragic cases are some murder attempts that have failed. Let’s look at some of the biggest failed attempts to collect life insurance money by beneficiaries.
1. Anti-Freeze Poisoning Doesn’t Equal Ecstasy for Criminal Wife
Kate Knight, a young wife from the United Kingdom looking for some extra cash, was all about filing a life insurance claim after her husband’s untimely death. There w
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