Insurance

Columnist Asks: Will Farmers Insurance Settlement Turn Into A Good Deal For Customers? Not Likely…

March 31, 2011  ·  Jerry Flanagan

<p> <img class=" size-full wp-image-2039" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2011/03/farmerslogo_1.gif" style="width: 120px; height: 90px;" width="120" height="90" />Today <em>Los Angeles Times</em> columnist Michael Hiltzik takes a hard look at a proposed settlement in a lawsuit against Farmers Insurance opposed by Consumer Watchdog.  According to Hiltzik, under the settlement, Farmers would likely keep the lion's share of a $455 million settlement fund intended for consumers while lawyers for the plaintiff would walk away with $90 million in fees.</p>

Will Farmers Insurance Settlement Turn Into A Good Deal For Customers?

March 30, 2011  ·  Mark Reback

<p> <b>The class-action settlement will result in rebates for Farmers Insurance Group policyholders who were allegedly overcharged. But the insurer's own business units get to keep any money unclaimed by affected customers, who must fill out a 10-page claim form.</b></p>

Drive Less, Save More

March 30, 2011  ·  Mark Reback

<p> Nancy Bell figures she will be driving less now that she's retired. So, the Oakland resident opted for a new kind of auto insurance policy that rewards drivers for doing just that.<br /> <br /> By signing up for a pay-as-you-drive policy offered by State Farm instead of an estimated miles policy, Bell could see her future premiums fall. The less she drives below a threshold of 19,000 miles a year, the more she saves.<br /> <br />

Insurance Brokers Battle For Commissions Under Health Reform Law

March 29, 2011  ·  Mark Reback

<p> WASHINGTON, DC -- In another flashpoint over implementation of federal health reform, insurance brokers are trying to undo a regulation that, they say, has already led to deep cuts in the commissions they earn from selling health care policies.<br /> <br /> The issue pits brokers against consumer groups, with state insurance commissioners split on the subject. Connecticut's new insurance commissioner, Thomas B. Leonardi, is among those resisting federal legislation to make sure agents' fees are protected under the health reform law.<br /> <br />

Caltrain Board Unanimously Approves Everything, Despite Historic Crisis

March 29, 2011  ·  Mark Reback

<p> The group of local politicians in charge of Caltrain unanimously approves every item that comes before it, seldom debating or asking questions even as the rail line faces a historic financial crisis that soon could lead those same leaders to shutter half its stations.<br /> <br />

Insurance Task Force Punts Brokers’ Fee Exemption

March 28, 2011  ·  Mark Reback

<p> Lawmakers pushing to exempt insurance brokers’ fees from a new regulation in the health care law suffered a setback this weekend when the National Association of Insurance Commissioners declined to take action to support the change.<br /> <br /> After hearing from consumer groups and insurance agent representatives, a task force set up by the state insurance commissioners essentially punted on the issue, voting Sunday afternoon to ask a committee to report back within four weeks on possible modifications.<br /> <br />

Live-Blog from NAIC: A Semi-Victory for Consumers! UPDATED Monday a.m.

March 27, 2011  ·  Judy Dugan

<p> <img class=" size-full wp-image-2033" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2011/03/naic_0.jpg" style="width: 201px; height: 123px;" width="401" height="245" />Austin, TX --The chairman of the committee that brought forth the so-called broker bill, and swore to pass it, is now backing away. The efforts of the NAIC's own consumer representatives--and Consumer Watchdog--are paying off. They're literally sending the whole thing back to committee.... likely for a very, very long time! More later, gotta go celebrate.</p>

NAIC Liveblog: Will the Real Consumers Please Stand Up?

March 27, 2011  ·  Judy Dugan

<p> <img class=" size-full wp-image-2031" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2011/03/naic.jpg" style="width: 201px; height: 123px;" width="401" height="245" />Austin, TX -- Here at a showdown meeting of state insurance commissioners (Texas is an appropriate showdown spot, no?), I don't know who the real consumers are, from the testimony that's going on.</p>

Insurance Commissioners Raising Eyebrow About Broker Pay Guarantee

March 27, 2011  ·  Judy Dugan

<p> (Austin, TX) The more consumer-friendly state insurance commissioners here at a national meeting are raising eyebrows over attempts to rush a really big vote that would jack up health insurance premiums in order to pay more to insurance brokers. The issue is whether the official National Association of Insurance Commissioners will put its official stamp of approval on legislation written by and for the brokers.</p> <p>  </p>

Controversial Mini-Med Plans To Live On Through Waivers

March 27, 2011  ·  Mark Reback

<p> Consumer advocates condemn them as the worst form of health insurance: “mini-med” plans that limit payouts to as low as $2,000 a year, leaving often unsuspecting customers to fend for themselves if they develop a costly and serious disease.</p> <p> So drafters of the new health-care law made eliminating mini-meds a top priority. By 2014, the plans will be gone completely. And starting this year, virtually all are required to up their annual coverage limit to at least $750,000.</p>

S.F. MAYOR’S RACE: Funding Tactics Raise Concern

March 27, 2011  ·  Mark Reback

<p> <strong>Is lavish spending at state level padding the profiles of major players?</strong><br /> <br /> Democratic state Sen. Leland Yee wasn't officially running to be the next mayor of San Francisco when he spent an eye-popping $1.1 million in one year on his 2010 re-election bid - a race where he faced no primary battle and no serious general election competition.<br /> <br />

State Health Insurance Regulators Tied To Industry, Says Watchdog

March 23, 2011  ·  Mark Reback

<p> <b>Vote to determine health insurance rates could be affected by lobbyists, industry insiders</b></p> <p> Consumer Watchdog, the nonpartisan consumer advocacy agency, on Tuesday warned that <a href="http://www.consumerwatchdog.org/resources/naicindustryties.xls">close ties to the insurance industry</a> through lobbying, contributions, and appointments could affect an upcoming vote on Sunday by the National Association of Insurance Commissioners (NAIC) concerning the rates people pay for health insurance.</p>