Latest Insurance industry News

Vice President Mike Pence speaks at a campaign rally, Tuesday, Sept. 22, 2020, at Lanconia Municipal Airport in Gilford, N.H. (AP Photo/Robert F. Bukaty)

Pence indirectly mentions marker of 200,000 US virus deaths

Sep. 22, 2020 5:18 PM EDT

CONCORD, N.H. (AP) — Vice President Mike Pence briefly and indirectly lamented a “heartbreaking moment” in the coronavirus pandemic Tuesday, referring to the 200,000 U.S. lives lost without mentioning the actual number. The milestone was reported by Johns Hopkins University, based on figures...

FILE - In this Aug. 19, 2020 file photo, New York Mayor Bill de Blasio speaks to reporters after visiting New Bridges Elementary School in the Brooklyn borough of New York to observe pandemic-related safety procedures. On Wednesday, Sept. 16, 2020, de Blasio announced that he and about 500 other city employees will take one-week, unpaid furloughs from their jobs in the coming months as the city grapples with a financial crisis caused by the coronavirus pandemic. (AP Photo/John Minchillo, File)

NYC mayor orders staff furlough amid COVID financial crisis

Sep. 16, 2020 3:56 PM EDT

NEW YORK (AP) — New York City Mayor Bill de Blasio said Wednesday that he and about 500 other city employees will take one-week, unpaid furloughs from their jobs in the coming months as the city grapples with a financial crisis caused by the coronavirus pandemic. The furloughs, which would start in...

Maryland individual health insurance rates drop again

Sep. 15, 2020 5:22 PM EDT

ANNAPOLIS, Md. (AP) — Individual health insurance rates in Maryland under the Affordable Care Act are dropping for the third consecutive year. Gov. Larry Hogan announced Tuesday that Maryland Insurance Commissioner Kathleen Birrane has approved an average 11.9% premium rate decrease for individual...

FILE - Smoke from wildfires fills the sky over Pasadena, Calif., in this view looking east down Colorado Boulevard in a Saturday, Sept. 12, 2020 file photo. The fires consuming the forests of California and Oregon and darkening the skies over San Francisco and Portland are also damaging an economy already struggling with the coronavirus outbreak. In the communities where they are raging, wildfires are destroying property, running up huge losses for property insurers and putting a strain on economic activity that could linger for a year or more.  (AP Photo/John Antczak, File)

Wildfires during pandemic intensify economic pain in West

Sep. 14, 2020 4:25 PM EDT

The fires consuming the forests of California and Oregon and darkening the skies over San Francisco and Portland are also damaging a regional economy already singed by the coronavirus outbreak. Wildfires are destroying property, running up huge losses for property insurers and putting a strain on economic...

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File)

Liz Weston: Are Medicare Advantage plans worth the risk?

Sep. 14, 2020 6:53 AM EDT

About 1 in 3 people 65 and older in the U.S. enroll in Medicare Advantage, the private insurance alternative to traditional Medicare. It’s not hard to see why: Medicare Advantage plans often cover stuff that Medicare doesn’t, and most people don’t pay extra for it. But Medicare Advantage can...

FILE - In this Oct. 3, 2017, file photo, windows are broken at the Mandalay Bay resort and casino in Las Vegas, the room from where Stephen Craig Paddock fired on a nearby music festival, killing 58 and injuring others, on Oct. 1, 2017. An $800 million settlement by casino giant MGM Resorts International could be in the hands of more than 4,400 relatives and victims of the deadliest mass shooting in recent U.S. history by January 2021. (AP Photo/John Locher, File)

Las Vegas shooting victims closer to getting $800M payout

Sep. 10, 2020 9:14 PM EDT

LAS VEGAS (AP) — More than 4,400 relatives and victims of the deadliest mass shooting in recent U.S. history could receive a total of $800 million in payouts from MGM Resorts International and its insurers by January, the casino giant and attorneys said Thursday. After a year arranging details, Robert...

Alabama doctor, pharmacist sentenced for health care fraud

Sep. 10, 2020 4:59 AM EDT

BIRMINGHAM, Ala. (AP) — An Alabama doctor and a pharmacist have been sentenced in a multi-million dollar health care fraud scheme to bill insurance companies for medically unnecessary drugs, among other charges. A federal judge sentenced Paul Roberts, a former Fultondale doctor, to six years in prison and...

Missouri Democrat running for governor unveils health agenda

Sep. 9, 2020 6:21 PM EDT

COLUMBIA, Mo. (AP) — Democratic candidate for Missouri governor Nicole Galloway said Wednesday that she wants to pass a state law protecting health insurance for people with preexisting conditions. The proposal is part of the state auditor's health care plan if voters elect her over Republican Gov. Mike...

FILE - In this Aug. 27, 2020 file photo, buildings and homes are flooded in the aftermath of Hurricane Laura near Lake Charles, La. Homeowners often make four key mistakes with their property insurance during hurricane season. They don’t have flood insurance, they don’t get their needed coverage in time, they carry a deductible that is too high or they don’t have enough coverage.  (AP Photo/David J. Phillip, File)

4 home insurance pitfalls to avoid during hurricane season

Sep. 9, 2020 6:58 AM EDT

For homeowners in coastal states, the 2020 hurricane season could mean financial disaster. Named storms are rolling in at a record pace, with as many as 25 expected in the Atlantic this season — twice the average number. After battering the Louisiana coast in late August, Hurricane Laura alone may account...

Elf on the Shelf figures are piled in a box at the company's studio Thursday, Aug. 27, 2020, in Atlanta. Thousands of suppliers routinely rely on credit insurance to cover potential losses if any of the retailers they work with can’t pay for the goods they’ve ordered. But now insurers are scaling back on coverage because they are unwilling to take a chance on retailers that are struggling to survive during the pandemic.  Christa Pitts, founder and co-CEO of The Lumistella Company, which produces toys, books and other products under the Elf on the Shelf and Elf Pets brands, says her retail orders were covered 100% before the pandemic. Now, only 50% are covered, forcing her to rethink who she will sell to. (AP Photo/John Bazemore)

Suppliers reluctant to ship goods without credit insurance

Sep. 6, 2020 9:23 AM EDT

NEW YORK (AP) — Gold Medal International is sitting on millions of dollars worth of socks at its North Carolina warehouse that it can’t ship to stores. The reason? The 66-year-old family-owned sock maker can’t get enough credit insurance to cover potential losses if the stores can’t...