Insurance

Insurance Industry Not On The Same Page With Latest Optional Federal Charter Pitch

February 23, 2009 · Consumer Watchdog

Insurer, Producer Groups Remain At Odds On Renewed Push For National Oversight Chiming in with its own letter to Mr. Geithner was Santa Monica, Calif.-based Consumer Watchdog, which wrote that "while the need for a financial regulatory overhaul is clear, it should not be used as a stalking horse for insurance deregulation." Consumer Watchdog -- formed by Prop. 103 organizer Harvey Rosenfield, and formerly known as the Foundation for Taxpayer and Consumer Rights -- said the aim of those who seek federal oversight is to avoid stringent state regulations.

Costs For Individual Health Plans Soar

February 20, 2009 · Jerry Flanagan

At a time when more people are forced to buy their own health insurance because of job losses, costs for many individual policies are soaring. Advocates say the 17 million Americans who buy their own coverage can't negotiate lower rates the way employers or other large group plans can. "These folks have their back against the wall," says Jerry Flanagan, a health advocate with Consumer Watchdog, a California-based group.

Three’s The Charm: Don’t Just Get Mad – Get Better, With ‘The Three Laws of Performance’

February 20, 2009 · Consumer Watchdog

What if the corporations themselves were to transform and basically incorporate so-called “nonprofit” values into their own charters? “The Three Laws of Performance” has the practical know-how to guide conscientious participants in corporations through a long-lasting, not “airy-fairy” inside-out metamorphosis of their workplace and mission.

Hollingsworth’s fundraising while budgeting – unbelievable

February 19, 2009 · Consumer Watchdog

Months into California's budget stalemate and less than 24 hours into his tenure as California's Senate Minority Leader, Sen. Dennis Hollingsworth is already holding a <a href="http://campaign.constantcontact.com/render?v=001rM7aeOJhCItEAyU48OhzuQ1HEHPccCCENxWvVQHrcFdmBDCa-BsI3mpJpdqQUM1Kbo-BBWTCbYnlOC0RnmGA7alTrbGDlRLY" target="_blank" rel="noopener">$1,000-a-head fundraiser</a> (thanks to <a href="http://www.capitolweekly.net/" target="_blank" rel="noopener">Capitol Weekly</a> for posting). So, other than it just being an utterly insane PR move, doesn't the new Republican leader have a little more to be doing with his time than carousing with special interests?

Brace Yourself For Higher Insurance Rates

February 18, 2009 · Consumer Watchdog

Insurance industry critic Harvey Rosenfield, author of Proposition 103, questioned some of what Poizner is doing. "The tentative changes I've seen would let the insurance companies estimate their future losses and also let them choose which years to include as the basis for that," he said. "It's basically deregulation."

Financial Services Reform Could Be “Launching Pad” For Federal Insurance Deregulation, Group Warns

February 16, 2009 · Consumer Watchdog

A consumer advocacy group says it fears Treasury Secretary Timothy Geithner’s financial services reform could become “a launching pad” for the federal deregulation of insurance.

Consumer Group Attacks OFC Concept

February 12, 2009 · Consumer Watchdog

Insurance regulation should remain with the states, and switching to an optional federal insurance charter (OFC) would be tantamount to deregulation, according to a letter sent yesterday to the Treasury Department by Consumer Watchog, a consumer advocacy group.

Anthem Blue Cross Agrees To Take Back Clients, Pay $1 Million Fine

February 11, 2009 · Consumer Watchdog

As part of a deal with California regulators, the state's largest health insurer will offer new coverage to 2,330 people it dropped after they submitted bills for expensive medical care. Jerry Flanagan, a patient advocate with Consumer Watchdog in Santa Monica, said Anthem's $1-million fine was "an insult to the people of California, especially those who have lived under the financial destruction caused by rescission." The fine, he said, pales in comparison to what Anthem must have saved by rescinding policies for years. Anthem has never said what costs it avoided through rescission. But Health Net, in documents produced for the Bates trial, said it avoided $35.5 million by canceling 1,600 policies.

State Insurance Commissioner Announces AAA So Cal Rate Cut

February 6, 2009 · Doug Heller

The state insurance commissioner has announced a rate reduction for drivers covered by AAA of Southern California. Commissioner Steve Poizner says the rate cut of more than 5 percent will save the average policyholder about $100 a year. Consumer groups are not cheering. Doug Heller is with Consumer Watchdog. It wanted the commissioner to cut AAA’s premiums by 13 percent – more than double what he approved.

Auto Club To Cut Car Insurance Rates 5.4%

February 6, 2009 · Consumer Watchdog

The reduction from the Automobile Club of Southern California will average about $100 per vehicle and become effective April 1. One consumer advocate criticized the new reduction for being only half what it should have been. "Based on an initial review, this is not a sufficient rate cut," said Douglas Heller, executive director of Consumer Watchdog of Santa Monica.

Limits on executive compensation, Take II

February 4, 2009 · Consumer Watchdog

President Obama just finished a White House press conference with newly-confirmed Treasury Secretary Geithner that follwed up on a reform that Congress promised but failed to deliver on. They announced a curb on excessive executive compensation...

Costly Coverage: Critics Complain State Insurance Commissioner Makes It Too Easy For Industry To Raise Rates

February 1, 2009 · Consumer Watchdog

Todd Foreman, a former Insurance Department regulator who is now a staff attorney at Consumer Watchdog, said the new policy runs counter to the spirit of Proposition 103 “What Poizner is saying is, 'I'm not going to do my job as a regulator. I'm going to sit back and wait for the companies to come in to tell me where they want to set their rates,'” Foreman said. “That's a fundamental misunderstanding of the law and of his job as a regulator.”

Prop 103 California Insurance Reform

New Bill Requires Insurance Companies to Offer and Renew Insurance Coverage for Fire-Safe Homes

Homeowners Dropped by Insurers