Posts tagged with: "insurance"
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18 Jun 2012, 1:36 pm
June 18th, 2012 - If Markel Insurance Co. had stuck to its plan to charge policy buyers in Washington pet insurance rates that it had on file with state regulators, they estimate that it would have collected $969,000 in premiums over a two-year period preceding a consumer complaint filed against the Company.
Instead, the insurer charged those policyholders $708,000. That’s because Markel was using rates that it intended to use in Texas.
Using the wrong rates cost the Chicago-area… [read post]
11 Nov 2010, 7:30 am
By Render Freeman
This is one of the most common questions raised by victims of personal injury, and the answer is far from simple. Your claim may be covered by multiple insurance policies, including some that you might not expect.
Liability coverage: the wrongdoer may or may not have liability coverage, and it may be layered. Don’t assume that the first layer of insurance is the only layer. Hire competent counsel that will diligently investigate available liability insurance… [read post]
4 Feb 2010, 7:59 am
Insurance companies resort to robocalls in attempt to shield industry from accountability
I would like to say kudos to Michigan State Rep. Ellen Cogen Lipton (D-Huntington Woods), who recently blasted auto insurance companies for 11th-hour attacks on lawmakers who are trying to hold the insurance industry accountable and helping make insurance more affordable. As an auto accident attorney, I dedicate my life’s work to protecting those injured in crashes, and I take it personally when insurance… [read post]
29 Dec 2010, 8:20 am
Reader shares story about being told nothing is wrong - despite serious spinal injury from truck accident - and having his No-Fault benefits stopped
I recently received yet another comment from a reader who has been mistreated by his auto insurance company following a truck accident. As an attorney who deals with auto insurance companies on a daily basis, I’m all too familiar with the tactics and tricks they use to avoid responsibility for providing the insurance benefits they’re legally… [read post]
8 Aug 2010, 7:31 pm
This post comes from a recent forum discussion Q&A with Glenn Kantor:
Q: My policy states that I can go to arbitration if I disagree with the answer to my appeal of a Long Term Disability claim. But the insurance company only mentioned a civil suit as my option if I want to dispute their denial. What’s the difference between going to arbitration and bringing a civil suit? Won’t arbitration cost less and be less complicated?
A: Bringing a civil suit means filing a lawsuit in U.S. District… [read post]
6 Jan 2012, 2:28 pm
By Sam Sorich and Larry Golub
On January 4, 2012, the California Secretary of State announced that signatures may be collected for a proposed initiative which would bring prior approval of rates for health insurance to California, and also amend the existing regulation of automobile and homeowners insurance.
Jamie Court, the President of Consumer Watchdog, is the proponent of the measure, termed the Insurance Rate Public Justification and Accountability Act. There were actually two virtually… [read post]
10 Dec 2010, 6:30 pm
What you should know about Health Care Tax Credit
The new Affordable Care Act brings new tax credits, health insurance exchanges and other tools that help you provide affordable health insurance coverage for your employees if you are a business owner.
If you have less than 25 fulltime employees with an annual salary of less than $50,000 you are entitled to a tax credit. For instructions on how to claim this credit for the tax year 2010, you need to download a one-page form from… [read post]
30 Sep 2011, 4:52 am
Under proposed Michigan No-Fault “reform” law, payments to doctors and hospitals treating auto accident victims would be capped
This is my fourth blog about the dangerous effects that the proposed HB 4936 will have on the Michigan No-Fault law, and in turn how this is going to hurt all Michigan drivers and the several thousand residents who are seriously injured every year in auto accidents.
Today I want to talk about fee schedules, and how this bill will hurt doctors and hospitals who… [read post]
6 Jan 2011, 4:19 pm
By John M. LeBlanc and Jason C. Love
On December 30, 2010, Sacramento County Superior Court Judge Michael Kenny invalidated several recently issued regulations by the California Department of Insurance (“CDI”) in response to a challenge filed by the Association of California Life & Health Insurance Companies (“ACLHIC”).
ACLHIC was represented by Gregory Pimstone of Manatt, Phelps and Phillips and by Barger & Wolen partner John M. LeBlanc.
The regulations were issued by the CDI on August… [read post]
6 Oct 2010, 10:25 am
In 1959, the Insurance Institute for Highway Safety (IIHS) was founded with the sole purpose of researching date to find out causes and preventive methods for motor vehicle accidents. IIHS is funded by auto insurers to help them gauge risk using three common factors of operating an automobile. The three factors are: human influence, vehicle influence and environmental influence.
IIHS published gender reports in 2008 that found that more men die each year in automobile accidents than women. The… [read post]
4 Feb 2010, 6:02 am
According to a recent study performed by Nationwide Mutual Insurance Company, 73% of Americans talk on the telephone while driving. The Insurance Industry for Traffic Safety found that almost 6000 deaths were caused by distracted drivers in 2008. The numbers for teens are particularly striking. 21% of fatal car crashes involved cell phone usage and at least 50% of Florida teens admit to texting while driving. In Florida these numbers have particular significance because of our existing insurance… [read post]
20 Apr 2012, 9:52 am
Washington Mutual Inc. has gone to court seeking damages against a dozen insurers that provided the failed thrift operator with directors and officers liability coverage.
ACE American Insurance Co., a unit of ACE Group Ltd., was one of the dozen sued in U.S. Bankruptcy Court in Wilmington, Del., by Washington Mutual. It charges that the insurers breached their contracts, according to a report in businessinsurance.com, and asked for $250 million in damages. The Complaint also alleges that… [read post]
9 Jan 2012, 7:16 am
Section 106 of the Insurance (Vehicle) Regulation permits ICBC to reduce compensation by any amount paid by another “insured claim” in claims for injuries caused by unidentified motorists or uninsured motorists under section 24 and section 20 of the Insurance (Vehicle) Act . Reasons for judgement were released last week by the BC Supreme Court, Vancouver Registry, addressing whether wage loss benefits paid by an employer are an ‘insured claim‘. In short the Court held that they are… [read post]
14 May 2012, 1:33 pm
A recent report states Missouri businesses and consumers are slated for an estimated $64.5 million in rebates this year from health insurers. These insurers spent more on administrative expenses and profits than allowed under the 2010 health care overhaul. According to the Kaiser Family Foundation, Insurers have told the state they expect to owe rebates covering 654,909 Missourians.
Kaiser President and CEO Drew Altman says, "This study shows that asking insurance companies to put more of their… [read post]
16 Aug 2010, 5:32 am
"The bulk of the assets in the life and annuity insurance industry are
controlled by relatively strong and stable institutions, making it stronger
overall than the banking industry," said Martin D. Weiss, president of Weiss
Ratings, the only major rating agency that accepts no payments from the institutions that it rates. "Although profitability in the industry fell during the debt crisis and
then recovered last year, the strongest insurers remained financially healthy
throughout the… [read post]
14 Oct 2011, 6:35 am
Insurance attorney urges Michigan drivers to oppose HB 4936: PIP Choice
I’m very disappointed to report that a Michigan House of Representatives committee has approved major changes to our No-Fault auto insurance system on Thursday.
Despite last-minute changes and requests for more testimony, Rep. Pete Lund (R-Shelby Twp.) moved ahead with the vote. Lund is chairman of the insurance committee.
As I’ve been blogging about almost daily, our current No-Fault Personal Injury Protection (PIP)… [read post]
17 Nov 2011, 10:35 am
The largest health insurance providers in New York have dropped their opposition to a determination that details of their rate-hike requests will no longer be kept secret.
Health insurers had contested a decision made in September that filings for rate increases would be public. That came on the heels of legislation that requires insurers to now seek prior approval of the Department of Financial Services for certain health insurance rate increases for individuals, small groups and some large… [read post]
12 Aug 2010, 6:29 am
The pull out of Sun Life from the No Lapse guarantee UL market represents the second major life insurer to jettison the popular product in the past couple of years. In early 2009 AXA Equitable stopped offering the product.
No Lapse guarantee UL came onto the market as a solution to those who had a long term or permanent insurance need but were turned off by the premiums of whole life. The early version of Universal Life was a popular alternative to whole life in the 1980s when interest… [read post]
17 May 2011, 3:39 am
Insurance lawyer asks State Farm: Why do we have to fight for our deserved No-Fault benefits… and where the heck is our savings?
Our insurance lawyers want to stress that State Farm is definitely not like a good neighbor. State Farm comes in at No. 3 on my list of the worst insurance companies in Michigan. In my opinion, this insurance company has been the most aggressive in fighting its customers before paying no fault insurance benefits.
And it’s a profitable strategy - unless you need… [read post]
5 Aug 2011, 1:18 pm
Insurance regulators have issued an Order to Show Cause against Blue Shield of California Life and Health Insurance Co. after determining that it denied an approved treatment technique for children with autism.
The California Department of Insurance said in an enforcement action that Blue Shield had failed to comply with the state’s Mental Health Parity Act. That statute requires private insurance plans to provide equal coverage for selected mental health conditions and physical… [read post]