Insurance

Insurance Commissioner, Consumer Advocate Split Over Allstate Rates

April 6, 2015 · Mark Reback

In the California insurance world, activist Harvey Rosenfield and Insurance Commissioner Dave Jones have been longtime collaborators.

Blue Shield of California is Under New Pressure To Lower Rates

March 27, 2015 · Mark Reback

With billions of dollars in reserve, nonprofit insurer Blue Shield of California is facing new pressure to offer better prices for its policies. Despite its nonprofit status, the health insurance giant is usually on par or priced slightly above its for-profit rivals, according to a review of rates and interviews with insurance agents and industry officials.

Why Did It Take 7 Months To Learn Blue Shield Lost Tax-Exempt Status?

March 19, 2015 · Mark Reback

Health insurance giant Blue Shield of California and state tax authorities both came under fire for not disclosing seven months ago a landmark decision taking away the insurer's tax-exempt status, which had been in place since 1939. The Times first reported Wednesday that the California Franchise Tax Board had quietly revoked Blue Shield's tax-exempt status in August after a lengthy audit of the nonprofit health plan.

Elon Musk: Model S Not A Car But A ‘Sophisticated Computer On Wheels’

March 19, 2015 · Mark Reback

In a move that demonstrates how the mechanical and electronic worlds are converging, Tesla Motors plans to update many of its Model S sedans with functions that include automatic braking when the vehicle senses a pending collision, a partial autopilot system, and even a robotic parking program that will tuck a car into its garage while its owner watches from the porch.

Blue Shield Finally Has To Pay

March 18, 2015 · Jamie Court

Remember, months ago, when we called out nonprofit Blue Shield for spending policyholder money to buy a luxury skybox at San Francisco 49ers games?<img _fcksavedurl="http://salsa.wiredforchange.com/o/6563/images/BlueShieldSept11Protest.png" align="right" alt="" height="214" src="http://salsa.wiredforchange.com/o/6563/images/BlueShieldSept11Protest.png" width="286" />

With Billions In The Bank, Blue Shield of California Loses Its State Tax-Exempt Status

March 18, 2015 · Mark Reback

Authorities have revoked the tax-exempt status of nonprofit Blue Shield of California, potentially putting it on the hook for tens of millions of dollars in state taxes each year. The move by the California Franchise Tax Board comes as the state's third-largest health insurer faces fresh criticism over its rate hikes, executive pay and $4.2 billion in financial reserves. The state quietly stripped the San Francisco insurer of its exemption from California income taxes in August. The company held that since its founding in 1939.

State Revokes Blue Shield of California’s Tax-Exempt Status

March 18, 2015 · Mark Reback

On the Blue Shield of California Web page called “<a href="https://www.blueshieldca.com/employer/knowledge-center/features/perspectives/not-for-profit.sp" target="_blank" rel="noopener">What Does Being a Not-for-Profit Mean to Us</a>?” the health insurer provides an answer: <blockquote> Operationally, it means we don’t answer to Wall Street – we don’t need to generate returns to shareholders. Philosophically, being a not-for-profit means we’re guided by our mission to ensure all Californians have access to high-quality health care at an affordable price.

Cleaning Up Exide, After Decades of Pollution and Misconduct

March 16, 2015 · Mark Reback

Listen to the audio of this radio broadcast here: <a href="http://www.kcrw.com/news-culture/shows/which-way-la/cleaning-up-exide-after-decades-of-pollution-and-misconduct">http://www.kcrw.com/news-culture/shows/which-way-la/cleaning-up-exide-after-decades-of-pollution-and-misconduct</a> WHICH WAY LA?

Watchdog: Are You Paying Too Much? Gas Pumps, Grocery Scales, Barcode Scanners Infrequently Inspected For Accuracy In Orange County

March 14, 2015 · Mark Reback

Above a chilled tray of pork chorizo, Seth Birenbaum set another cast iron weight on a grocery scale and scrutinized its digital control panel. The weights equaled precisely 15 pounds but the panel showed nearly an ounce less. “That’s out of tolerance,” Birenbaum said, walking to the nearest store clerk. “This one, it’s weighing light so you’re losing money on it. You need to get it re-calibrated.”

Stockton Is Priciest Area For Auto Policies

March 12, 2015 · Mark Reback

<blockquote>Stockton is among California’s most expensive cities for auto insurance.</blockquote> <blockquote>Motorists living in other San Joaquin County cities will pay on average at least 10 percent less than the average rate in Stockton, according to a recent study by ValuePenguin.com, a financial services comparison site.</blockquote>

Google Roars Onto Auto Insurance Turf

March 11, 2015 · Mark Reback

Google last week launched an auto insurance <a href="https://www.google.com/compare/autoinsurance/form?p=home" target="_blank" rel="noopener">rate comparison site</a> in California. <div id="story-body"> Mercury Insurance, MetLife and 21st Century Insurance are among the 14 firms already signed up as partners, and Google promises more will follow. <a href="http://www.boltinc.com/" target="_blank" rel="noopener">Bolt Solutions</a> last week announced that it too has joined up. "We have a Google Compare agreement with Google," said Bolt spokesperson Chrissy Snyder.

US Consumer Privacy Bill of Rights Doesn’t Go Far Enough, Critics and Supporters Say

March 2, 2015 · Mark Reback

Three years after it first proposed such a move the White House has introduced a draft Consumer Privacy Bill of Rights (CPBR) that would give consumers clearer and more guarantees on how personal data is protected by organisations – regardless of the sector those organisations operate in. The draft bill seems to be taking heat from all sides, and if adopted it would bring US policy on privacy protection in the age of big data more in line with the draft legislation in Europe.

Prop 103 California Insurance Reform

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

Homeowners Dropped by Insurers