Insurance

Passing marks for California stem cell agency in first annual audit;

June 22, 2006  ·  Consumer Watchdog

<h3>Some concerns voiced, however, on future oversight</h3><p class="source">THE SAN FRANCISCO CHRONICLE</p> <p>ohn Simpson, stem cell project director for the Foundation for Taxpayer and Consumer Rights, a nonprofit group in Santa Monica, said the documents issue "raises some really troublesome questions" about how the stem cell agency views its responsibilities as a public entity. "What they would have us believe is that they are operating within the general practices of all state agencies. But state agencies don't hire auditors that stiff the controller's office," Simpson said.</p>

Panel Told to Rev Up Pump Price Inquiry;

June 16, 2006  ·  Consumer Watchdog

<h3>Schwarzenegger orders regulators to accelerate an investigation into a recent 'unique spike' in the state's fuel market.</h3><p class="source">The Los Angeles Times</p> <p>"You cannot find out if there's price gouging, unless there is a law against price gouging, and there's none except during states of emergency," said Court, president of the Foundation for Taxpayer and Consumer Rights in Santa Monica. "The governor just wants to appear tough on oil companies with the public, but until he gets behind modernization of the state's price-gouging laws, he has no stick to swing at the oil companies even if he wanted to."</p>

Policy of success for director of Marsh & McLennan in San Diego

June 6, 2006  ·  Consumer Watchdog

<p class="source">The San Diego Union-Tribune</p> <p>Industry critics say insurers are overstating the weather's impact on insurance in order to raise rates. "It's a way for the insurance companies to panic the public into spending more than they should have to pay," said Harvey Rosenfield, who heads the Foundation for Taxpayer and Consumer Rights in Santa Monica.</p>

Healthcare Costs Spur Calls for Limits on Profits;

June 2, 2006  ·  Consumer Watchdog

<h3>State officials target insurers' use of funds as the debate turns from services to finances.</h3><p class="source">The Los Angeles Times</p> <p>Health insurance premiums have risen faster than inflation consistently for nearly a decade. Consumers are also being asked to pay higher deductibles and co-payments as employers struggle to maintain health benefits. "With what is being paid into the system, there is no reason why we shouldn't be able to cover everybody" if profits are minimized, said Judy Dugan, research director for the Santa Monica-based Foundation for Taxpayer and Consumer Rights.</p>

Assembly OKs cable franchises from state;

June 1, 2006  ·  Consumer Watchdog

<h3>Also passed is a bill limiting Valley homes in floodplains.</h3><p class="source">Sacramento Bee</p> <p>Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, criticized the Assembly's passage of such major legislation at a late hour -- nearly 9 p.m. -- with very little debate. Debate over AB 2987 has been raging behind the scenes for weeks, but lawmakers took less than 20 minutes Wednesday to debate the bill. "The public doesn't really have anyone asking the tough questions," Court said.</p>

Legal delays may be a plus for state’s stem-cell effort;

June 1, 2006  ·  Consumer Watchdog

<p class="source">The San Jose Mercury News</p> <p>California's stem-cell agency needs to do all it can to ensure there are no scandals like the one that emerged last January in South Korea, when announced major stem-cell breakthroughs were discovered to be fraudulent. </p>

Outside forces shape Umberg v. Correa fight

June 1, 2006  ·  Consumer Watchdog

<h3>Tom Umberg has raised and spent more money than Lou Correa to win the Democratic nomination in the 34th Senate District, but no less than seven independent committees have pitched in to fight for Correa.</h3><p class="source">The Orange County Register</p> <p>"It looks like the Senate leader is looking to pick the Santa Ana senator, rather than the people of Santa Ana," said Doug Heller, executive director for the Foundation for Taxpayer and Consumer Rights.</p>

Garamendi blasts insurers, alleges ‘excessive profits’

May 26, 2006  ·  Consumer Watchdog

<p class="source">The Sacramento Bee</p> <p>Garamendi said a financial analysis of the state's 20 largest auto, property and casualty insurers found that companies have paid less than normal for claims in the past two years. "The insurance companies are literally giving less and less money to the policyholders and more and more money to Wall Street, to fat executive salaries and overhead expenses," Garamendi said during a Capitol news conference Thursday. "It's time for the rates to be brought in."</p>

Oil companies deny manipulating oil prices, though newly-released consumer report claims otherwise

May 25, 2006  ·  Consumer Watchdog

<p class="source">CBS-TV National Morning News</p> <p>Oil companies continue to blame the cost of ethanol and other additives for the price increases. But the study found that during this spring's price surge, Washington state's gasoline, which does not include ethanol, increased just as much as California's, which is an ethanol blend.</p>

Price-gouging on insurance alleged;

May 25, 2006  ·  Consumer Watchdog

<h3>State chief will hold hearings this summer</h3><p class="source">The San Diego Union-Tribune</p> <p>In 2005, the top five insurers took in roughly $3.5 billion in premiums and estimated that they would pay out $1.5 billion in claims, with an average estimated payout of 46 cents per dollar. Half of the top 20 homeowners insurers last year paid out 45 cents or less per dollar of premium. "It used to be that insurers would pay out close to a dollar in claims for every dollar they take in premiums, since they make most of their money through investments anyway," said Harvey Rosenfield, a longtime critic of the insurance industry who heads the Foundation for Taxpayer and Consumer Rights in Santa Monica.</p>

Bustamante sowing conflict-of-interest seeds

May 19, 2006  ·  Consumer Watchdog

<p class="source">San Gabriel Valley Tribune (California)</p> <p>Consumer advocate Doug Heller, executive director of the Foundation for Taxpayer and Consumer Rights, insists that "There are no exceptions, there are no excuses, because contributions and gifts come with expectations."</p>

Florida Orders Mercury General Units To Return More Than $2 Million To Policyholders

May 17, 2006  ·  Consumer Watchdog

<p> TALLAHASSEE, FL -- Two Mercury General Corp. subsidiaries have been ordered to pay more than $2 million in refunds to policyholders for engaging in improper claims settlements and charging rates not approved by the Florida Office of Insurance Regulation, the OIR said. </p>