10 Most Outrageous Insurance Frauds Written on August 5, 2009, by admin.
In the movies they are played by Pierce Brosnan and Gene Hackman and justify art stealing or snatching of old Nazi German gold. In real life however they are unattractive and miserable figures devoted to the unglamorous and unforgiving life of insurance frauds. They do not have punch lines or happy endings, but their actions [...]
Hope For Health Reform Compromise Written on August 5, 2009, by admin.
Even though people on all sides of the political spectrum admit that the US health care system cannot serve the needs of many citizens, reform keeps getting stalled. One of the big problems has been getting all of the different players to compromise. Health insurance companies, business management, medical providers, legislators, and of course, consumers, [...]
Is A Life (Insurance Policy) Worth Less Today? Written on August 5, 2009, by admin.
What is a Life Settlement?
People can sell their life insurance policies to a third party for less than the face value of the policy. The third party hopes to profit by collecting the proceeds when the covered person passes away. Typical sellers are retired people who decide the cash settlement will be more useful [...]
Understanding Out Of Network Health Costs Lawsuits Written on August 5, 2009, by admin.
What Does Out Of Network Mean?
PPO and HMO health insurance plans use a network of medical service providers. These providers agree to abide by network rules, and of course, network price guidelines. So these providers, like doctors, hospitals, and therapists, agree to accept network charges for various medical services. In return, they may get more [...]
Handling Insurance Claims On 2009’s Rough Winter Storm Damage Written on August 5, 2009, by admin.
Many people in the US have experienced a rough winter this year, and winter storms do a lot of damage. In fact, the Insurance Information Institute estimates that winder storms caused over a billion dollars in property damage last year. Water damage and frozen pipes, alone, account for 20% of this figure, and the average [...]
Car Insurance Rates Decline in Some Areas Written on August 5, 2009, by admin.
Car insurance buyers should know that, just as with real estate, location really matters when comparing car insurance prices. Why will a driver pay a different premium if they live in a small community or a large metro area? Of course, insurers keep statistics on the amount of claims in an area, and also the [...]
Be Lucky on St. Patrick’s Day with a Designated Driver Written on August 5, 2009, by admin.
We have some good news. Increased education, especially of teen drivers, and better enforcement of DUI (Driving Under the Influence) laws, have decreased alcohol related traffic fatalities. However, each time we have a holiday that is associated with drinking, we experience a very predictable increase in accidents and fatalities. This is so predictable that many [...]
Insurers Predict Rate Hikes Because of Economic Troubles Written on August 5, 2009, by admin.
I have to admit that we Americans tend to view our shores as the boundary of the world, and most of our concern about the current economic downturn focuses on the US. But this recession has worldwide consequences. One consequence is that international insurance companies predict rates hikes as the economy gets worse. Of course [...]
More Taxpayer Dollars To Sinking Ship AIG Written on August 5, 2009, by admin.
In case you do not know the history of American International Group (AIG), and its financial problems, let me give you a brief summary. AIG is a a huge American insurance company, but it also maintains international branch headquarters in cities like Paris, London, and Hong Kong. In fact, Forbes listed AIG as the 18th [...]
If I Change Jobs Or Become Unemployed, Can I Take My Health Insurance Coverage With Me? Written on August 5, 2009, by admin.
Many people worry about losing health insurance if they change jobs or become unemployed. Luckily, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) and the Health Insurance Portability and Accountability Act (HIPAA) offer some protection. However, you need to know exactly how these acts affect you before making any major life changes.
Health Insurance for [...]