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Maryland Insurance Professionals Face Stricter Standards

August 13, 2024August 12, 2024 H. Cutner

Protecting Maryland Consumers: A Closer Look at Stricter Penalties Starting October 1, consumers in Maryland will witness the implementation of more stringent penalties for unauthorized insurance activities. These legislative changes, introduced by the Maryland Insurance Administration, aims to protect consumers from fraudulent practices while ensuring that insurance professionals uphold the highest standards. Unauthorized Insurer Fines Soar: The fines for unauthorized insurers have substantially increased, with penalties rising from $50,000 to a maximum of $125,000. Higher Penalties for Dishonest Practices: Insurance producers and public adjusters indulging in dishonest or incompetent practices…

Drivers in Maryland are facing growing auto insurance premiums from State Farm

November 12, 2015November 11, 2015 Nordstrom

State Farm is generating controversy with rate hikes affected thousands of drivers Drivers in Maryland will be facing higher auto insurance rates coming from State Farm. The insurer has had many complaints issued against it over the past year due to rising insurance premiums, with some drivers claiming that their premiums were raised for accidents that were not their fault. Maryland insurance regulators have found fault with some of the premium increases that have been issued by State Farm, with some of these rate hikes hitting drivers that have only…

Open enrollment is up and running on the health insurance exchange

November 3, 2015November 2, 2015 Julie Campbell

The third ever open enrollment has started across the country for people buying coverage for 2016. It’s that time of year again, when the health insurance exchange open enrollment begins so that consumers across the United States can shop for, compare, and purchase the coverage they need for 2016 in order to comply with the individual mandate of the Affordable Care Act. The open enrollment period for buying the health plans officially started on Sunday, November 1. Initial reports showed that consumers were already using the online marketplaces across the…

Maryland’s health insurance exchange has some major problems, according to state audit

October 16, 2015October 14, 2015 S.Vagus

Audit reveals many problematic issues with state’s insurance exchange The Maryland Office of Legislative Audits has reviewed the state’s health insurance exchange, called the Maryland Health Benefit Exchange, and have found that the exchange’s operators did not appropriately protect sensitive personal information from those enrolling in the marketplace. The state’s exchange began official operations in June of 2011 and the Office of Legislative Audits reviewed data from the exchange from that point through July 2014. The findings of the audit highlight many instances in which the exchange can be improved.…

Traffic violations lead to higher auto insurance premiums

February 23, 2015February 21, 2015 S.Vagus

In some states, premiums grow by a significant margin when drivers are hit with traffic violations Moving violations often lead to increase auto insurance premiums, but in some states, the increase is astronomical. A new report from InsuranceQuotes.com highlights the dramatic increase of auto insurance premiums in some states for those that receive driving under the influence (DUI) charges. On average, consumers can expect to pay 92% more for their coverage when they receive a DUI charge, which is the national basis. In some states, however, costs can shoot up…

Thousands could lose their health insurance by year’s end

October 7, 2014October 4, 2014 Marc

Substandard insurance policies throughout the US are expected to be cancelled at the end of the year Thousands of people throughout the U.S. will be losing their health insurance coverage at the end of the year. Those that are losing their coverage have substandard policies that do not comply with federal regulations. These policies were initially meant to expire at the beginning of the year, but were granted a reprieve by the federal government. This reprieve is coming to an end and consumers may be forced to find new policies…

Insurance fraud discovered in Maryland’s second largest school system

September 25, 2014September 22, 2014 H. Cutner

The CFO of Prince George’s school system has been placed on administrative leave with pay following accusations. The head budget official for the second biggest school system in Maryland now finds himself on administrative leave with pay after it was discovered by school officials that it is likely that he has committed insurance fraud. The officials discovered an order form from the Maryland Insurance Office in which fraudulent activities occurred. The Prince George’s County Public School System’s chief financial officer, Colby R. White, as well as his wife, Keisha, who…