Live Insurance News

Auto insurance premiums are on the rise in Massachusetts

July 31, 2014July 31, 2014 Logan B.

Premiums continue to climb since state stopped regulating the auto coverage sector in 2008 Auto insurance is becoming more expensive in Massachusetts. The state is currently home to some of the most expensive auto coverage in the U.S., which is calling into question whether or not regulators should begin overseeing the auto insurance sector once again. In 2008, the state stopped regulating coverage for drivers. For a time, this caused insurance rates to drop by some degree, but they quickly shot up again as insurers sought to generate more profit…

Unemployment insurance costs addressed in Massachusetts

June 30, 2014June 28, 2014 Logan B.

New legislation focused on unemployment insurance costs passes in Massachusetts Massachusetts businesses are expected to save money on their unemployment insurance coverage thanks to new legislation that has been signed into law by Governor Deval Patrick. The legislation is a compromise between lawmakers that want to raise the state’s minimum wage and those that want to take action on unemployment throughout Massachusetts. The new law is expected to be well received among the state’s businesses, many of whom have been expressing concerns regarding the costs of unemployment coverage. Legislation aims…

Massachusetts wins a major victory in health insurance

June 13, 2014June 10, 2014 S.Vagus

Uninsured rate may fall below 1% in Massachusetts The number of uninsured people in Massachusetts may soon be below 1%, according to information from the state’s Center for Health Information and Analysis. The organization has been tracking the number of people that have signed up for insurance coverage from December 2013 to March of 2014, finding that the number of people with insurance coverage increased by more than 215,000 statewide. If this momentum is maintained, the state may soon have the lowest uninsured rate in the country. State initiatives help…

Massachusetts health insurance exchange may be too broken to fix

May 8, 2014May 6, 2014 Nordstrom

State insurance exchange may need to be rebuilt entirely Some health insurance exchanges in the U.S. may be too broken to fix. This is the case in Massachusetts, where state officials are suggesting that the exchange needs to be dismantled and rebuilt from the ground up. The state’s insurance exchange began serving residents in October 2013, but severe technical difficulties have prevented many people from using the exchange in any way. Now, the state is under pressure to fix the exchange, or cede control of it to the federal government.…

California health insurance exchange shows healthy growth

November 18, 2013November 16, 2013 S.Vagus

State-run health insurance exchanges are faring better than their federal counterparts Throughout the U.S., relatively few people have enrolled in state-based health insurance exchanges. The majority of these exchanges are managed by the federal government, with only 12 states opting to run their own exchanges. Technical problems with the federal exchange network have kept many people from enrolling in exchanges properly, which is one of the reasons behind low enrollment numbers. States managing their own exchanges, however, have fared better in terms of enrollment, as is the case in California.…

Flood insurance rates to spike this year

May 13, 2013May 25, 2013 Logan B.

Flood homeowners Insurance Rates raising homes

Flood insurance rates are set to rise throughout the US Flood insurance throughout the U.S. is expected to become costlier as legislation passed last year concerning the National Flood Insurance Program comes to fruition. The legislation was designed to address the several, severe financial problems that the flood insurance program has faced over the past several years. The program first began experiencing these troubles in the wake of Hurricane Katrina. The storm dealt such a powerful blow that the federal program has not yet recovered. Ensuing years of floods throughout…

Auto insurance fraud falling in Massachusetts

May 6, 2013May 5, 2013 Nordstrom

Auto insurance fraud meets aggressive action in Massachusetts Auto insurance fraud has been a growing problem in Massachusetts. This problem began receiving significant attention from state lawmakers more than a decade ago when a staged accident caused resulted in the death of a state resident. A new report from the Insurance Fraud Bureau of Massachusetts and the Automobile Insurers Bureau of Massachusetts highlights the progress that the state has made in its ongoing fight against auto insurance fraud. The report suggests that the state’s continuous efforts have saved consumers from…