State Officials Adopt Standards For Insurers’ Expenses
October 20, 2010 by Timothy Wilkes · Leave a Comment
: ”State insurance commissioners on Thursday unanimously endorsed tough new standards that would require many health insurance companies to spend more of each premium dollar for the benefit of consumers. The new federal health care law stipulates that at least 80 percent of premium revenue must be spent on medical care and ‘activities that improve health care quality’ for patients — not retained as profits or used to pay executive compensation and administrative expenses. The rules, adopted at a meeting of the National Association of Insurance Commissioners in Orlando, Fla., describe how the calculations will be made, specifying what counts as medical care and what expenses will be classified as administrative.” (Pear, 10/21). :
Insurance Companies Double Down On Deceptive Campaign to Influence Insurance Commissioner Race; Companies On Track To Spend $5 Million
October 20, 2010 by Gemma Torreggiani · Leave a Comment
Santa Monica, CA – Insurance companies’ addition of $1.365 million this weekend to their campaign to elect Mike Villines as insurance commissioner is consistent with Consumer Watchdog’s expectation that the industry will spend at least $5 million before election day. The following insurance industry contributions, totaling $2.655 million, have been given to a Sacramento political committee called “JobsPAC,” since late September:
- George Joseph, Chairman of Mercury Insurance – $775,000
- Allstate Insurance – $700,000
- Liberty Mutual – $490,000
- Progressive Insurance – $390,000
- Anthem Blue Cross – $100,000
- Health Net – $100,000
- Farmers Insurance- $100,000
To date, JobsPAC has spent approximately $845,000 on ads attacking candidate Dave Jones and $566,000 on ads supporting Mike Villines. Full Article…
Acquiring Short Term Student Health Insurance
October 19, 2010 by Thomas Brownlee · Leave a Comment
Are you currently applying for college and you need to have a health insurance policy because the school requires you to have one? If yes, I suggest you get short term student health insurance. With the name alone, you can easily say that this is the type of health insurance that will meet your needs.
Short term student health insurance can cover you from a month to a year. But you’ll find most insurance carriers giving their client an option to renew the coverage. As for the main benefits, this plan covers those areas that are covered by regular health insurance policies. I
Industry Giving Criticized in Calif Insurance Race
October 18, 2010 by Gemma Torreggiani · Leave a Comment
Sacramento, Calif. (AP) — The insurance industry has given more than $1.5 million in indirect contributions to support the Republican candidate for state insurance commissioner, raising criticism among certain groups. Both candidates say they will not accept direct contributions from the industry they would regulate. The money is flowing instead to the California Chamber of Commerce JobsPAC, which is airing advertising for Republican Mike Villines and against Democrat Dave Jones. Both are termed-out members of the state Assembly. California Common Cause, Consumer Watchdog and the Center for Governmental Studies in Los Angeles say it’s a way for the insurance to buy influence without being tied directly to the campaign. Full Article…
Travel Insurance policies by Indian prominent Insurers
October 16, 2010 by Thomas Brownlee · Leave a Comment
Indian visitors who are travelling out of India require overseas travel insurance to stay secure while overseas. Overseas travel insurance is essential for visitors to cope with financial requirements in case of an emergency while overseas. Overseas travel insurance not only covers the insured for medical expenses but also for other emergencies like baggage loss, baggage delay, passport loss and so on while travelling out of India.
There are various renowned insurance companies in India who offer Overseas travel medical insurance policies for Indian travelers visiting overseas. Some of the prominent Indian insurance companies who offer Visitor Medical Insurance are TATA AIG, Bajaj Allianz, Oriental, Cholamandalam, ICICI Lombard, Future Genarali, Apollo Munich and so on.