insurance news
Estate Taxes and You
So, unless a miracle occurs, at the beginning of next year, the Federal Estate Tax will revert to the rates that were in effect ten years ago, on January 1, 2001. By the numbers, this means that estates worth $1,000,000 will be taxed at 41%, those above $3,000,000 would be taxed at 55%, and the […]
Read moreStatewide Covers Medical Marijuana…Nationwide
If you live in one of the fifteen states where medical marijuana is legal, and are concerned about the cost of being involved in the medical cannabis industry, you can rest a little easier. Last March, an insurance company based in Rancho Cordova, CA launched the first nationally available coverage designed specifically for the medical […]
Read moreNet Premiums up for First Time in 2 Years
A new report released by A.M. Best & Co shows that the American life/ health industry’s nine-month net premiums risen increased 2.6% to $424.2 billion, the first such increase since the end of 2008. The same report also shows that admitted assets have improved 4.6 percent to $5.1 trillion since year-end 2009, aided by what […]
Read moreNew Jersey Charging for Fire/First-Aid Service?
While many private ambulance services ask local residents to pay an annual membership fee in order to defray costs of actually using an ambulance, some residents of New Jersey might soon have to pay if they need the fire department as well. According to Insurance Journal, the Salem, NJ city council has recently adopted an […]
Read moreFederal Judge Upholds Healthcare Reform in Virginia
Reuters reported yesterday that a Virginia lawsuit challenging the healthcare law known colloquially as “Obamacare” was dismissed by a federal judge. The challenge, one of several such attempts to strike down healthcare reform, was brought by Liberty University (a conservative Christian school) and individuals who claimed that the law is unconstitutional. U.S. District Judge Normal […]
Read moreWyoming Releases First Crash Report with Expanded Data
The state of Wyoming updated their data collection practices with regard to automobile crashes two years ago and have now compiled the first report using the more detailed information. The new system includes more specific information about factors like driver distractions, and what injuries were incurred. Wyoming Department of Transportation representative Stephanie Lucero said that […]
Read moreRateWatch: Michigan Judge Halts Blue Cross Rate Increase
A circuit court judge in Ingham County, Michigan has called a stop to Blue Cross Blue Shield’s planned rate increases there. The increases in question would have increased the cost of premiums by up to 66% for some senior citizens. The preliminary injunction, which was filed on Tuesday, requires that a public meeting be held. […]
Read moreCyber Crime on the Rise
If you think the concept of cyber-insurance is just a scam, consider this: last Tuesday (November 9th), the Internet Crime Complaint Center (IC3) logged its two millionth complaint of online criminal activity. The IC3 began operating in May, 2000, as a partnership between the FBI and the National White Collar Crime Center, and it took […]
Read moreConnecticut Has New Interim Insurance Commissioner
Days before the Connecticut state insurance department is due to hear a rate increase request from a major health insurance company, Governor M. Jodi Rell has appointed an acting insurance commissioner. According to the Insurance Journal, Governor Rell’s representatives confirmed the official appointment of Barbara C. Spear on Friday. Spear will take over the position […]
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