All Entries Tagged With: "insurance"
43.6 Million In US Living In Poverty Line, Census Bureau Says
US Census Bureau said that the number of poor in the US jumped to 14.3% in 2009 to 43.6 million Americans, its highest level since 1994. The dramatic jump on income, poverty, and health insurance was not unexpected. The U.S. economy struggles last year, and in 2008, 13.2% – or 39.8 million people – were [...]
Obama Says Health Reform Strengthened Medicare
President Barack Obama made a statement that Medicare, government health insurance program specially designed for senior citizens, will live for many more years. President Obama, in his weekly radio and Internet address, says the overhaul of U.S. health-care policy has helped Medicare stay sustainable for years to come because of the new law. “We’ve made [...]
Property and Casualty Insurance Market Still in Jeopardy
Risk & Insurance Management Society Inc. (RIMS) conducted a survey that focuses on analyzing the current insurance market. The survey shows that the soft property and casualty insurance market continued through the second quarter of the year. The “RIMS Benchmark Survey,” coordinated by New York-based consultant Advisen Ltd., exemplifies that average renewal premium dropped between [...]
Obama’s Financial Reform Law Could Help American Insurers and Reinsurers
Based on the comprehensive analysis conducted by the Standard & Poor’s Corporation, a US-based financial services company that specialized in financial research and analysis on stocks and bonds, that the Dodd-Frank Wall Street Reform and Consumer Protection Act could provide a integral support to all American insurers and reinsurers to “maintain their competitive positions in [...]
Diabetic Americans Guaranteed Health Insurance Claims Rights
Americans who suffers from diabetes who have been denied health insurance coverage because of their incurable medical condition will be benefited for the new rule under Obama’s administration that was especially designed to provide support to people with diabetes and other chronic diseases appeal the denials of health insurance claims. The American Diabetes Association celebrates [...]
Insurance Company Agrees to Pay $725 Million in Ohio Fraud Case
American Insurance Group Inc. and its board members complied with an agreement to pay $725 million settlement to three Ohio pension funds to resolve six-year-old claims violations. The class suit alleged anti-competitive market division, accounting fraud, stock manipulation and bid-rigging, and violations by AIG between October 1999 and April 2005. Ohio Attorney General Richard Cordray [...]
Nonprofit Insurers Hoarding Cash While Raising Premiums
An independent study conducted by Consumers Union revealed that numerous health insurers are hoarding billions of dollars but continuously raising premiums amount by double digits annually. Consumers Union focused their close-investigation mainly to the well-known Blue Cross Blue Shield non-profit insurers, who cover approximately one in three Americans with a private insurance plan. While the [...]
Bank of America is Planning to Sell Insurance Unit Acquired with Countrywide Financial Corp.
Brian Moynihan, Bank of America CEO, has made it apparent that BoA is planning to sell the insurance unit that was purchased with Countrywide Financial, Balboa. The 50-years old American businessman believes that Bank of America should sell Balboa “because it’s not a core activity of making mortgages and we’re continuing to fine-tune the franchise.” [...]
CIGNA Teamed Up with HealthCompare
CIGNA, a global health service company and one of the nation’s leading healthcare providers, is building and integral business partnership with HealthCompare (www.healthcompare.com), a one-stop online guide to help individuals and families to efficiently compare, research, enroll, and buy in the right health insurance plan at the right price. The fact that there are more [...]
New Affordable Health Insurance Plans Packed with Lots of Restrictions
The national healthcare law will provide optimum assistance to numerous uninsured or under insured individuals. The new health insurance plans that are being adopted by most of major insurance companies within the U.S. are coming with cheaper premiums but a lot of restriction. In these new plans patients will be restricted to choose their own [...]