Live Insurance News

Allstate’s $16.5 Billion Quarter Amid Wildfire Losses and Strategic Shift

February 7, 2025February 6, 2025 Live Insurance News

Allstate Q4 2024 Earnings Reflect Resilience Amidst Challenges Allstate’s latest financial results provide a deeper look into how one of the nation’s largest insurers continues to adapt to economic pressures, natural disasters, and evolving business priorities. With strong growth in premiums, higher investment returns, and a major business sale, Allstate’s fourth quarter of 2024 sets the tone for ongoing adjustments in the insurance industry. Robust Q4 Results Driven by Growth in Premiums and Investments Allstate wrapped up 2024 with a solid financial performance, reporting an 11.3% increase in revenue year-over-year,…

Massive $21 Billion Medicare Boost Set to Transform Senior Healthcare in 2026

January 14, 2025January 13, 2025 Logan B.

Proposed 2026 Medicare Advantage Reimbursement Rates See Positive Growth The Centers for Medicare & Medicaid Services (CMS) has proposed a 2.2% increase in reimbursement rates for Medicare Advantage (MA) plans in 2026, marking a sharp improvement from the 0.2% decline seen the previous year. When factoring in the 2.1% “risk score” adjustment to account for higher payments for individuals with severe health conditions, the total estimated increase in payments rises to 4.3%—equivalent to more than $21 billion. This proposal is poised to have a significant impact on insurers, healthcare beneficiaries,…

What the Proposed Rate Hikes Mean for North Carolina Homeowners Insurance Policies

January 13, 2025January 13, 2025 Nordstrom

North Carolina Faces Rising Homeowners’ Insurance Rates Background on the Rate Increase Proposal North Carolina homeowners are bracing for a significant decision regarding a substantial proposed increase in homeowners’ insurance premiums. The North Carolina Rate Bureau (NCRB), representing private insurance companies, has requested an average statewide rate hike of 42.2%. Insurers argue that escalating costs due to natural disasters, repair expenses, and reinsurance premiums necessitate the increase. While the proposed hike averages 42.2%, coastal areas like Emerald Isle and Swansboro could see skyrocketing increases ranging from 71.4% to 99%. Meanwhile,…

Liberty Mutual Lawsuit Raises Alarming Questions for California Homeowners

January 9, 2025January 9, 2025 Live Insurance News

Southern California Homeowner Challenges Liberty Mutual Over Policy Cancellation A Poway homeowner, Maria Badin, has filed a lawsuit against Liberty Mutual Insurance Co., alleging unjust cancellation of her long-standing home insurance policy. This legal battle may have significant implications not only for Badin but also for many other Californians facing similar situations. Allegations of Misconduct by Insurance Companies Maria Badin, a Liberty Mutual customer since 1993, claims her policy was abruptly nonrenewed after an aerial inspection reportedly identified “algae, mildew, mold, or moss” on her roof. However, upon hiring an…

How Aetna is Challenging Big Pharma in a Price-Fixing Battle

January 7, 2025January 7, 2025 Tate Ellison

Aetna Files Lawsuit Against Major Drugmakers Alleging Price-Fixing Conspiracy Aetna, a leading health insurer, has initiated a lawsuit against major pharmaceutical companies including Pfizer, Novartis, and Teva Pharmaceuticals, accusing them of conspiring to manipulate the market for generic drugs. The lawsuit alleges that the drugmakers colluded to artificially inflate prices, disadvantaging insurers, federal programs, and consumers. This legal action highlights growing concerns over anticompetitive practices in the pharmaceutical industry, with potential implications for healthcare costs nationwide. Details of the Lawsuit According to Aetna’s complaint, filed in Connecticut on December 31,…

California’s New Law Restricts AI’s Role in Health Insurance Decisions

January 6, 2025January 5, 2025 Nordstrom

California is taking a significant step to address public concerns regarding artificial intelligence (AI) in health care. Senate Bill 1120 (SB 1120), signed into law by Governor Gavin Newsom in 2024, prohibits health insurance providers from using AI as the sole basis for denying claims. The law aims to uphold the critical role of human judgment in health care decision-making. Striking a balance between technological advancements and ensuring patient care, the legislation is set to have both immediate and far-reaching impacts. AI’s Growing Role in Health Insurance and Its Controversies…

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…