Insurance

Insurance policyholders not at risk because of the financial crisis

March 6, 2009  ·  Carmen Balber

<p> I spent the morning watching a <a href="http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr030509.shtml">House Financial Services subcommittee hearing</a> into what a ‘systemic risk regulator’ of the financial... </p>

Can we trust government regulators to get it right?

March 4, 2009  ·  Jamie Court

<a href="http://www.cbsnews.com/video/watch/?id=4836927n">The 60 Minutes segment, "The Man Who Knew,</a>" was produced by my brother Andy, and it shows how the SEC ignored the financial analyst who warned the regulators about Bernie Madoff's $50 billion fraud nine years ago.  The segment raises fundamental questions about how the Obama Administration will do better at making regulation work.<br />

AIG v. AIG: Lawsuit-hating former chairman files lawsuit

March 4, 2009  ·  Doug Heller

Five years ago, AIG's then-Chairman, Hank Greenberg, compared lawyers who sue corporations on behalf of injured plaintiffs with terrorists.   Now he's suing his former company.

Banks Taking Advantage Of More People Relying On Credit Cards

March 3, 2009  ·  Jamie Court

More people have been relying on their credit cards to make ends meet during this recession. Consumer activists complain that banks are taking advantage of that by arbitrarily raising interest rates and imposing more penalties that cause more people to default on their credit card payments.

Obamacare principles steer clear of Schwarzenegger mistakes

February 27, 2009  ·  Jamie Court

<p> The release of today's federal budget was accompanied by 8 principles that President Obama laid out for the Congress as it takes up health care reform.  The president clearly learned from Governor Schwarzenegger's failed health insurance overhaul last year.  </p>

Move Afoot At Federal Level That Could Gut California’s Prop. 103

February 26, 2009  ·  Consumer Watchdog

The plan has drawn fire from the Santa Monica-based Consumer Watchdog, formerly the Foundation for Taxpayer and Consumer Rights, which believes the Royce-Bean plan would dramatically weaken regulation of California’s insurance industry. In particular, the group  believes the proposal would gut Proposition 103, the 1988 California ballot initiative authored by the group's leader and backed by national consumer advocate Ralph Nader. The proposition created California’s first elected insurance commissioner, sought to outlaw unfair and discriminatory rates and beefed up the state’s regulatory landscape.

Consumer Watchdog Tackles Autism Coverage Denials

February 25, 2009  ·  Consumer Watchdog

Consumer Watchdog has called on the Californian HMO regulator to make public its communications with insurance companies relating to cases of coverage denials for autism treatment.

Google wants to get rid of watchdogs, no apologies

February 25, 2009  ·  Jamie Court

<p> When I walked into the Consumer Watchdog office today on a <a href="http://www.consumerwatchdog.org/patients/articles/?storyId=25148">press conference</a> seeking to protect benefits for autistic children, it occurred to me just what is so insidious about Google's efforts to de-fund our consumer group. </p>

Privacy Watchdog Suffers Google’s Ire

February 24, 2009  ·  Consumer Watchdog

<strong>Search Giant Tries To Pull Consumer Watchdog's Funding</strong><br /> The U.S. privacy and consumer protection group Consumer Watchdog today shot back at Google for allegedly trying to have its funding withdrawn.

Google Executive Apologizes Over Email To Consumer Watchdog Donor

February 23, 2009  ·  Consumer Watchdog

Bob Boorstin, Google's Director of Corporate and Policy Communications, issued a statement on Monday apologizing for sending information about Consumer Watchdog to The Rose Foundation. Earlier on Monday, Consumer Watchdog published the text of an email that Boorstin sent to the foundation on February 9, in which he asked it to consider withdrawing funding. Boorstin cited Consumer Watchdog's campaign to highlight Google's alleged lobbying activities on Capitol Hill.

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

February 23, 2009  ·  Consumer Watchdog

<p> <strong>Insurer, Producer Groups Remain At Odds On Renewed Push For National Oversight</strong> </p> <p> 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. </p>

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.