Last week, an article in the New York Times highlighted the plight many consumers face when their health insurance claims are denied. The article gives some good general consumer tips, but Washington state consumers have extra rights.
First, you should always check your policy and follow your health plan's review process. But if that fails, you have the Patient Bill of Rights which, in part, guarantees that health care decisions providers make are based on medical standards and gives you the right to an independent third-party review of your claim. Learn more
Kamis, 11 Februari 2010
Selasa, 09 Februari 2010
WA Senate approves "joint underwriting association" bill to help businesses in flood plain get insurance
The Washington state Senate on Tuesday approved legislation to help businesses located below a weakened dam find flood insurance.
“This is a critical bill to protect businesses in King County’s Green River Valley,” said Insurance Commissioner Mike Kreidler, who requested the legislation.
“This valley is a vital area of the state’s economy, and it’s difficult if not impossible for some businesses to find enough flood coverage there right now,” Kreidler said. “We don’t want employers leaving because they can’t protect themselves against this risk.”
Senate Bill 6240 would allow the insurance commissioner’s office to set up a “joint underwriting association” or JUA. The association, made up of insurance companies, would serve as an insurer of last resort for businesses that cannot find flood coverage.
The bill passed the Senate, 30 to 18. A similar bill, House Bill 2560, is currently in the state House of Representatives.
According to the U.S. Army Corps of Engineers, a weakened abutment adjacent to the Howard Hanson Dam means that the dam cannot hold back as much water as usual. Corps officials have said that the need to release that extra water means that the flood risk below the dam is about 1 in 33.
The heightened flood risk has apparently led to a sharp contraction in the local insurance market, Kreidler said. Federal flood coverage is still widely available for both homes and businesses, but only covers up to $500,000 in commercial property and $500,000 in contents.
For many businesses in the heavily industrialized valley, that’s not enough coverage. Nor does the federal flood program offer business-interruption coverage, which is critical in a major manufacturing and distribution area like the valley.
“It’s important to note that this insurance isn’t a giveaway,” said Kreidler. “JUAs are designed to be self-supporting. The coverage wouldn’t be cheap. But at least it would be available.”
The state already has a JUA set up to provide insurance for midwives. Lawmakers approved another one for day care programs, but it was never used. The regular insurance market rebounded before it was needed.
At least 24 other states have passed similar legislation.
“This is a critical bill to protect businesses in King County’s Green River Valley,” said Insurance Commissioner Mike Kreidler, who requested the legislation.
“This valley is a vital area of the state’s economy, and it’s difficult if not impossible for some businesses to find enough flood coverage there right now,” Kreidler said. “We don’t want employers leaving because they can’t protect themselves against this risk.”
Senate Bill 6240 would allow the insurance commissioner’s office to set up a “joint underwriting association” or JUA. The association, made up of insurance companies, would serve as an insurer of last resort for businesses that cannot find flood coverage.
The bill passed the Senate, 30 to 18. A similar bill, House Bill 2560, is currently in the state House of Representatives.
According to the U.S. Army Corps of Engineers, a weakened abutment adjacent to the Howard Hanson Dam means that the dam cannot hold back as much water as usual. Corps officials have said that the need to release that extra water means that the flood risk below the dam is about 1 in 33.
The heightened flood risk has apparently led to a sharp contraction in the local insurance market, Kreidler said. Federal flood coverage is still widely available for both homes and businesses, but only covers up to $500,000 in commercial property and $500,000 in contents.
For many businesses in the heavily industrialized valley, that’s not enough coverage. Nor does the federal flood program offer business-interruption coverage, which is critical in a major manufacturing and distribution area like the valley.
“It’s important to note that this insurance isn’t a giveaway,” said Kreidler. “JUAs are designed to be self-supporting. The coverage wouldn’t be cheap. But at least it would be available.”
The state already has a JUA set up to provide insurance for midwives. Lawmakers approved another one for day care programs, but it was never used. The regular insurance market rebounded before it was needed.
At least 24 other states have passed similar legislation.
Kamis, 04 Februari 2010
Insurance news: Fraud's up, fire depts are billing homeowners for putting out fires, and insurance office bomber captured
Lots of insurance news today, some of it a bit odd.
Business Week reports that lawmakers in Maine are considering removing annual and lifetime caps on health coverage.
The Huffington Post and numerous other news sites report that public health care spending is on track to exceed private insurance spending (on health care) next year.
Here in Washington, several news outlets reported on a cease and desist order issued by our office against an auto service contract company. Here's a link to one of the stories, this one in the Puget Sound Business Journal.
ABC News says that some fire departments are billing homeowners for the cost of putting out fires. Among the reported justifications: "Hey, don't worry, it's going to go to insurance."
The LA Times covers a controversial decision by Oklahoma State University to take out $10 million life insurance policies on 27 donors, naming the school as beneficiary. Name of program: the "Gift of a Lifetime."
The Wall Street Journal reports that Metlife shares dropped on worries over potential AIG aquisition, and that Hanover Insurance's profit was up 68 percent on investment gains.
Also in the Journal: A leading anti-insurance-fraud group says that "questionable" claims rose 14 percent last year.
Marketingprofs.com says that online searches for life insurance are up 15 percent.
Lastly, the Bizarre Insurance Story of the Day: police in Darwin, Australia have nabbed a man who allegedly bombed an insurance office. He's a 45-year-old man who apparently goes by the name "Bird."
Business Week reports that lawmakers in Maine are considering removing annual and lifetime caps on health coverage.
The Huffington Post and numerous other news sites report that public health care spending is on track to exceed private insurance spending (on health care) next year.
Here in Washington, several news outlets reported on a cease and desist order issued by our office against an auto service contract company. Here's a link to one of the stories, this one in the Puget Sound Business Journal.
ABC News says that some fire departments are billing homeowners for the cost of putting out fires. Among the reported justifications: "Hey, don't worry, it's going to go to insurance."
The LA Times covers a controversial decision by Oklahoma State University to take out $10 million life insurance policies on 27 donors, naming the school as beneficiary. Name of program: the "Gift of a Lifetime."
The Wall Street Journal reports that Metlife shares dropped on worries over potential AIG aquisition, and that Hanover Insurance's profit was up 68 percent on investment gains.
Also in the Journal: A leading anti-insurance-fraud group says that "questionable" claims rose 14 percent last year.
Marketingprofs.com says that online searches for life insurance are up 15 percent.
Lastly, the Bizarre Insurance Story of the Day: police in Darwin, Australia have nabbed a man who allegedly bombed an insurance office. He's a 45-year-old man who apparently goes by the name "Bird."
Rabu, 03 Februari 2010
Planning a Super Bowl party?
Designating a driver should be at the top of your party-planning list -- This is a really good reminder from the Insurance Information Institute. Millions of Americans will drive to a friend or family member's house to watch the Indianapolis Colts play the New Orleans Saints (go Saints!) making Sunday's event a treacherous time to be on the road.
“Those throwing a party where alcohol is served have both a legal and moral responsibility to make sure that their guests are capable of driving safely,” said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I.
“You don’t want to allow anyone who has been drinking to drive a vehicle or ride a motorcycle while impaired. Not only do your guests risk injury or death to themselves or others, but you may be held financially responsible.”
“Those throwing a party where alcohol is served have both a legal and moral responsibility to make sure that their guests are capable of driving safely,” said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I.
“You don’t want to allow anyone who has been drinking to drive a vehicle or ride a motorcycle while impaired. Not only do your guests risk injury or death to themselves or others, but you may be held financially responsible.”
Selasa, 02 Februari 2010
Kreidler orders California company to stop selling illegal vehicle service contracts
Washington state Insurance Commissioner Mike Kreidler has ordered a California-based warranty company to stop selling unauthorized vehicle service contracts in Washington.
Consumer Direct Warranty Services, Inc., of Redding, Calif. was ordered to cease and desist “engaging in or transacting the unauthorized business of insurance in the state of Washington,” including advertising.
Kreidler’s office has received complaints about vehicle service contracts sold by the company, which has not registered as a motor vehicle service contract provider in the state. Neither the company nor any of the other parties listed in the order are licensed to sell insurance products in Washington.
The order also names three other companies and four individuals believed to be affiliated with Consumer Direct Warranty Services, including:
Warranty Administration Services, Inc.
Warranty Administration Solutions, Inc.
SafeData Management Services, Inc. and
Robert L. Chapman, James C. Sletner, Jennifer Shaw and Tamara Berbena.
All are based in Redding, except Berbena, who lives in Red Bluff, Calif.
The companies were also ordered to turn over a complete list of their Washington service-contract customers, and to notify those customers about the order.
Under Washington state law, the order notes, anyone selling unauthorized insurance in the state remains “individually liable for the performance of the contract and for the full amount of any loss sustained by an insured under such contract.”
Consumer Direct Warranty Services, Inc., of Redding, Calif. was ordered to cease and desist “engaging in or transacting the unauthorized business of insurance in the state of Washington,” including advertising.
Kreidler’s office has received complaints about vehicle service contracts sold by the company, which has not registered as a motor vehicle service contract provider in the state. Neither the company nor any of the other parties listed in the order are licensed to sell insurance products in Washington.
The order also names three other companies and four individuals believed to be affiliated with Consumer Direct Warranty Services, including:
Warranty Administration Services, Inc.
Warranty Administration Solutions, Inc.
SafeData Management Services, Inc. and
Robert L. Chapman, James C. Sletner, Jennifer Shaw and Tamara Berbena.
All are based in Redding, except Berbena, who lives in Red Bluff, Calif.
The companies were also ordered to turn over a complete list of their Washington service-contract customers, and to notify those customers about the order.
Under Washington state law, the order notes, anyone selling unauthorized insurance in the state remains “individually liable for the performance of the contract and for the full amount of any loss sustained by an insured under such contract.”
Senin, 01 Februari 2010
Insurance news and lots of it: MA will allow insurance appeals for some Toyota drivers, Iowa looks at credit scoring, and Indiana balks at climate survey for insurers
Insurance Journal: MA insurance regulators will allow some Toyota drivers who were involved in accidents linked to unintended acceleration to appeal insurance surcharges assessed by their carriers. Click here.
AMedNews: WA issues cease and desist orders to five companies allegedly selling illegal health insurance.
NY Times: Lawmakers on Thursday announced legislation designed to protect people hit by a family death or other life event that can cause their credit scores to drop and insurance rates to soar. (A death, serious illness, military deployment, identity theft or natural disaster can hurt credit score, says legislator.)
NY Times: With plans to pass sweeping healthcare reform stalled in Congress, the White House is targeting smaller efforts to improve the nation’s healthcare system, such as increasing use of cheaper, generic medicines and boosting electronic medical records.
NY Times: Indiana officials will not impose climate regulations on insurance companies, making it the first state to abandon the landmark measure before it goes into effect nationwide this spring.
AMedNews.com: Medical inflation continues to exceed inflation. (e.g.:Hospital charges rose 7.1 percent)
Denver Westword news blog: Jurors explain stunning $37 million verdict against Assurant Health: Story about rescissions and the largest bad-faith insurance verdict in Colorado history.
AMedNews: WA issues cease and desist orders to five companies allegedly selling illegal health insurance.
NY Times: Lawmakers on Thursday announced legislation designed to protect people hit by a family death or other life event that can cause their credit scores to drop and insurance rates to soar. (A death, serious illness, military deployment, identity theft or natural disaster can hurt credit score, says legislator.)
NY Times: With plans to pass sweeping healthcare reform stalled in Congress, the White House is targeting smaller efforts to improve the nation’s healthcare system, such as increasing use of cheaper, generic medicines and boosting electronic medical records.
NY Times: Indiana officials will not impose climate regulations on insurance companies, making it the first state to abandon the landmark measure before it goes into effect nationwide this spring.
AMedNews.com: Medical inflation continues to exceed inflation. (e.g.:Hospital charges rose 7.1 percent)
Denver Westword news blog: Jurors explain stunning $37 million verdict against Assurant Health: Story about rescissions and the largest bad-faith insurance verdict in Colorado history.
Insurance and winter storms: What's covered, what's not, and what to do now...
If a tree limb falls on your car, is it covered by insurance? How about the food in your freezer during a power outage, or your TV when a power surge wrecks it? And what about the cleanup costs for all those wind-damaged branches and storm debris in your yard?
Here's our list of tips about insurance and winter storms.
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