News

• Effort to Gain Federal Wind Coverage Questionable
  Efforts to add wind coverage to the National Flood Insurance Program will most likely fail in the face of multiple opposition including the Obama White House.
• Storms in 2008 Drive Rates up in Ohio
  Homeowners insurance rates jumped 10 percent in Ohio for 2009 after catastrophic storm damage in 2008 including the aftermath of Hurricane Ike.
• Michigan Insurers Can Use Credit Reports
  Insurance companies in Michigan can now legally use a customer’s credit rating as a basis for determining their premiums after a ruling by the Michigan Supreme Court on July 8, 2010.
• High Risk Insurance Pool Premiums to Vary Widely
  Because premiums for the new high risk insurance pools are tied to private insurance rates in the given state, costs will vary widely from as little as $124 to a month to as much as $900.
• Ohio Selects Non-Profit Medical Mutual to Admin High Risk Fund
  The Ohio Department of Insurance has announced that the state's high risk insurance pool, created by federal health care reform, will be run by a non-profit organization, Medical Mutual.
• Texas Insurance Company Ordered to Halt Operations in Florida
  Lacking either a license or a certificate of authority, Infinity Surety of Saginaw, Texas has been ordered to halt all business operations in the state of Florida.
• Health Care Costs for Employers Still Rising Slowly
  Companies are placing new emphasis on wellness programs and pushing some health care costs back to workers in anticipation of a 9 percent increases in health care costs for employers in 2011.
• Early Spring Weather and Summer Predictions Point to High Insurance Claims for 2010
  The spring and summer of 2010 may set records for vehicle and homeowners insurance claims due to severe weather, with claims in Colorado and Oklahoma already exceeding $1.5 billion.
• Sibelius Urges Employers to Immediately Extend Coverage
  Fearing that more Americans will lose health coverage before the new laws take effect in 2014, Secretary of Health and Human Services Kathleen Sebelius urges employers to act now.
• Light Hurricane Season Doesn't Mitigate Risks to Hawaii
  Hawaii faces elevated risk for hurricane damage even when forecasters predict a calm year for the Central Pacific as they are in 2010.
• Natural Disasters, Lack of Preparation Bankrupting U.S.
  A lack of community preparation and a rising number of natural disasters over the past 20 years has strained federal emergency response and relief funds to the point of bankruptcy.
• Obama Points to Early Health Care Changes in Radio Address
  Small businesses are already benefiting from tax breaks and insurers are being held to better business practices less than two months after the passage of the federal health care reform bill.
• Storm Surge Data Improves Risk Profiles in Flood Areas
  The potential destructive capacity of hurricane storm surge, the subject of a study by First American Spatial Solutions, should lead to better risk profiles in flood prone areas.
• Disgruntled Insurance Customer Resorts to Extortion
  After an attempt to extort as much as $3 million from New York Life Insurance Company, former employee Anthony Digati could face two years in jail and a fine of $250,000.
• Insurance Companies Work to Circumvent Spending Rules
  By reclassifying administrative expenses as medical costs, insurance companies are, according to a Senate panel, seeking to get around new spending rules mandated by federal health care reform.
• Need for Commercial "Green" Insurance Policies Rising
  The unique requirements of green building projects will necessitate the evolution of newer, more flexible property insurance coverage as environmentally friendly, energy efficient building is predicted to double by 2013.
• AIG Expects to Repay Government Before 2013 Deadline
  By divesting itself of two subsidiaries, AIG hope to open formal talks with the federal government to repay its loans before the 2013 deadline.
• Federal Flood Insurance Lapses as Congress Recesses
  At midnight on Sunday, March 28, 2010, the National Federal Flood Insurance Program will expire and cannot be renewed until Congress returns from recess on April 12.
• House Democrats Pass Healthcare Reform; Republicans All Vote Against It
  Republicans say they will try to block the "fix-it" healthcare bill before it leaves the Senate.
• New Hampshire Rate Hike Typifies National Insurance Debate
  Insurance customers in New Hampshire, facing a 12 to 13 percent premium spike, join others across the nation demanding an explanation for spiraling costs.
• Obama Administration Takes Insurances Execs to Task
  Citing the rising cost of drugs and health services, insurance industry executives defended their premium levels in a meeting at the White House on March 4, 2010 and insisted their profit margins remain low.
• No Compromise Reached at Obama's Health Care Summit
  In the wake of the failed health care summit, Congressional Democrats are contemplating a procedural end run to secure passage of their stalled reform legislation.

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