Florida Makes Major Change to Insurance Industry: What To Know
Governor Ron DeSantis signed Florida House Bill 5013 into law earlier this month, terminating one state-funded reinsurance program and substantially cutting funding for a second. Newsweek contacted DeSantis’ press office for comment on Friday via email outside regular office hours. Why It Matters In 2022, the Reinsurance to Assist Policyholders (RAP) program was created in […]
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Health Insurance CEO Pulls Back Curtain on Prior Auth Reform
This is a preview of Access Health—Tap here to get this newsletter delivered straight to your inbox. To commemorate the Fourth of July weekend, I have an American story for you. It’s got all the Stars and Stripes: entrepreneurial spirits, bootstraps mentalities and the familiar drag of bureaucracy. For the past several months, I’ve been […]
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Millions of US Homeowners Issued Insurance Warning
Millions of U.S. homeowners are unprepared for extreme weather, a new survey by Guardian Service suggests, with insurers warnings of the costly impact of complacency. The U.S. experienced a near-record number of climate-related disasters in 2024, at an average of nearly one every four days, according to a study by the International Institute for Environment […]
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Trump DOJ Sues Insurance Giants Over Alleged Medicare ‘Kickbacks’ Scheme
The Trump administration on Thursday filed a lawsuit against three of the country’s biggest insurance companies, accusing them of shelling out hundreds of millions “in illegal kickbacks” to insurance brokers “in exchange for enrollments into the insurers’ Medicare Advantage plans.” What To Know Thursday’s lawsuit was filed in Massachusetts and names Aetna Inc., Elevance Health […]
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Disabled Man To Get $145 Million Payout Over Insurance Denials
A jury has ordered an insurance company to pay $145 million to a Colorado man who was permanently disabled after an injury at work. The Denver District jury found the company, NorGUARD Insurance Company, had illegally delayed and denied Fermin Salguero-Quijada’s workers’ compensation claim, the Denver Post reported. Newsweek has contacted NorGUARD, which is owned […]
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Florida vs. California: How Two States Are Facing the Insurance Crisis
California and Florida have for years been the canary in the gold mine for a homeowner insurance crisis that experts warn might soon spread to many more states across the country. The two disaster-prone states, which face different challenges within their own markets, have seen homeowners insurance premiums skyrocket in recent years as carriers dealing […]
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Florida Insurance Scandal Has ‘Huge’ Impact for Homeowners
A previously secret study revealing that Florida insurers claimed to be losing money because of major storms while transferring billions of dollars to affiliate and parent companies sheds light on the crisis that has enveloped the state over the past few years. The 2022 study report, obtained and released by the Miami Herald and Tampa […]
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