Live Insurance News

Major Decision by Florida Court of Appeals Shakes Up Insurance Landscape

January 9, 2025January 8, 2025 H. Cutner

Florida Court Ruling Redefines Assignment of Benefits (AOB) and Its Impact on Homeowners Insurance A recent ruling by a Florida court of appeals has established that a “direction to pay” (DTP) by a policyholder does not equate to an “assignment of benefits” (AOB). This decision serves as a significant milestone reinforcing the legislative reform introduced through Senate Bill 2-A in 2023. The reform prohibits insurance policy benefits issued after January 1, 2023, from being assigned to third parties. The objective of Senate Bill 2-A is to curb the extensive litigation…

Deadly Ambush of UnitedHealthcare CEO Sparks Industry-Wide Questions

December 9, 2024December 8, 2024 Nordstrom

UnitedHealthcare CEO – A Shocking Crime in New York City Brian Thompson, CEO of UnitedHealthcare, was brutally killed last week in a high-profile attack that has garnered national attention. Caught on CCTV footage, the 50-year-old was ambushed by an unidentified gunman outside the Midtown Hilton Hotel in Manhattan as he prepared to attend an investor meeting. The assailant fired multiple rounds before fleeing the scene on an e-bike, later reportedly leaving New York City on a bus. Investigators are still pursuing leads and testing DNA evidence. The murder has sent…

Cigna health insurance sued over use of software to deny claims

July 31, 2023July 28, 2023 Marc

The insurer was sued in California for alleged unlawful claims reviewing software use. Cigna is now facing a lawsuit in California over allegedly unlawfully reviewing health insurance claims using software that does it automatically instead of having human employees complete the work. When a claim is submitted to an insurer, certain steps must be taken to determine if it will be accepted or denied. The healthcare system in the United States involves certain steps when it comes to determining payment through health insurance coverage. First, the patient heads to a…

Texas insurance companies may soon see drop in lawsuits

May 17, 2017May 15, 2017 Logan B.

A new bill in the state House would discourage homeowners from suing as a result of certain claims. Texas insurance companies could soon find themselves facing fewer lawsuits relating to claims involving weather damage. The Texas House passed a bill discouraging homeowners insurance policyholders from filing lawsuits against their insurers in regard to claims involving flood, hurricane or hail damage, for example. At the moment, Texas insurance code provisions include a penalty for failing to follow-through with claims payments. This means that Texas insurance companies risk having to pay more…

Connecticut insurance payout timing for Sandy running out

February 12, 2014February 10, 2014 H. Cutner

Fifteen months after the superstorm smashed its way through the area, homeowners are still waiting for their insurers. While Superstorm Sandy may no longer be making the top headlines anymore it doesn’t mean that the Connecticut insurance industry has finished up with all of the claims and payouts that were wrapped into this horrendous natural disaster that ripped across the east coast of the country. Some homeowners insurance customers are still waiting to receive the payouts for their claims. The problem is that time is starting to run out according…

Louisiana Citizens Insurance awarded temporary court order concerning $105 million in assets

April 23, 2012May 26, 2012 S.Vagus

Citizens wins court order in long-standing legal battle with policyholders Louisiana’s Citizens Property Insurance, a state-run provider of insurance coverage for homeowners, has won a temporary court order that allows it to retain $105 million in assets that would have gone to policyholders. These policyholders are accusing the company of being late on adjusting claims relating to 2005’s Hurricanes Rita and Katrina. Citizens has long argued that adjustments were made appropriately, but this stance did not win the company favor with previous judgments that required the company to pay policyholders.…

California trade groups and insurance regulators settle two Iran divestiture

January 30, 2012January 30, 2012 Julie Campbell

California insurance regulators and trade groups have come to a settlement over two suits regarding efforts that were being made to put pressure on insurance companies to stop their investments into organizations that took part in nuclear, defense, or energy-related work in Iran. The announcement was first made at the end of Friday by Dave Jones, the Insurance Commissioner in California. The lawsuits had to do with a controversial initiative started in 2009 by Steve Poizner, the previous California Insurance Commissioner, which threatened insurers with penalties and publication when they…