Tag: Michigan insurance industry

Michigan insurance industry is having a hard time filling job postings

Marc
Michigan insurance industry jobs application form

Insurers in the state are continuing to open positions in their companies, but workers aren’t there to fill them. The Michigan insurance industry is all set to open up a range of new jobs over the next few years. However, it is already facing a considerable challenge in their effort to fill the positions as insurance companies compete to attract talent. This was among the primary findings in a study conducted by Ferris State University researchers. The university’s insurance, actuarial and risk management student team surveyed companies in the Michigan…

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Health care reform offers insurance industry a boost, study

H. Cutner
Medicare open enrollment deadline approaching fast – things you should know!

The Michigan medical coverage sector has been greatly benefiting from the sale of individual policies. The health care reform is giving quite a shot in the arm to the insurance industry in Michigan, as sales of individual policies have spiked by almost 40 percent in the first quarter of 2014. This, according to a report that was recently released, while profits had been slumping the rebound was large. Last year, profits had been sliding, but this year, the health care reform is giving the industry a considerable boost as there…

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New law rattles insurance industry in Michigan

S.Vagus
insurance industry report

Michigan insurance industry balks at new law A new law has gone into effect in Michigan that will change the way the state’s insurance industry prices coverage. The law was passed on March 28 of this year and changes the way insurance companies can use a consumer’s credit information to deny or cancel auto, home, health, and other kinds of insurance coverage. In many states, insurers are barred from using socio-economic information to price coverage at all. In Michigan, however, the insurance industry claims to rely on this information as…

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Coalition Protecting Auto No Fault seeks to make Michigan car insurance information public

Julie Campbell

The Coalition Protecting Auto No Fault (CPAN), a Lansing-based group, has filed a lawsuit against the insurance system in Michigan at the Ingham County Circuit Court, with the intention of forcing the insurance industry to report the data it collects regarding health and accidents. Officials with the Coalition are working to alter the current insurance system through a proposal of two bills which was made in November and which has been supported by insurance companies. They are seeking to have information from the Michigan Catastrophic Claims Association (MCCA) – a…

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Car insurance companies face increased spending on payments for treating injuries from accidents

Michigan is facing an ongoing battle over its no-fault automobile insurance regulations, specifically where it involves the unlimited coverage it provides for catastrophic injuries, and whether that should be hedged back in order to attempt to control rapidly increasing premiums. A secondary issue within the state – and which is not receiving quite as much attention – is the rising costs of injury treatments from auto accidents. At the moment, these expenses are greater than those for the treatments of injuries that have resulted from other circumstances. According to AAA…

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Michigan’s unemployment insurance system to see reform next year

Nordstrom

Governor Rick Snyder has plans to reform Michigan’s unemployment insurance system. According to the Governor, the reformation will reflect the administration’s plan to reinvigorate the state economy. Snyder has proposed a plan to the state Legislature he calls “work sharing.” Essentially, the plan would prevent employers from making layoffs by having them cut the hours given to their non-essential workforce. The Legislature is mulling over another plan to extend aid to those that have lost their jobs in an attempt to help them start their own businesses. Work sharing programs…

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Lawmakers in Michigan to pay more for health insurance come October

Michigan legislators will be paying more for health insurance beginning in October, according to House Speaker Jase Bolger. This change is accompanied by a bill before the Legislature which will require state employees to pay up to 20% of their insurance costs. The move comes as an attempt to take control of the costs in every level of government as well as embolden the state’s insurance industry by injecting money from public officials. Until now, legislator’s health insurance has been bought with taxes. Given the tumultuous economy, taxpayers have been…

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