California Insurance Commissioner issues rule prohibiting gender discrimination in vehicle insurance rates

(Sacramento, CA – Insurance News 360) – On Jan. 3, California Insurance Commisioner Dave Jones issued regulations that prohibit use of gender to determine private automobile insurance ratings. The Gender Non-Discrimination in Automobile Insurance Rating Regulation went into effect on Jan. 1. The Gender Non-Discrimination in Automobile Insurance Rating Regulation requires all automobile insurance companies […]

Delaware Insurance Department Approves Genworth Acquisition by China Oceanwide

(Dover, DE – Insurance News 360) – The application from China Oceanwide Holdings Group Co. Ltd., and its affiliates to acquire Genworth Life Insurance Company and certain affiliates has been approved by Delaware Insurance Commissioner Trinidad Navarro. The application was filed more than two years ago, and in the past two years, the two companies […]

California Insurance Commissioner

(Sacramento, CA – Insurance News 360) – Commissioner Jones blasts Trump Administration rule interfering access to abortion, creating confusion that leads to loss of insurance On Jan. 4, California Insurance Commissioner Dave Jones sent a letter to the U.S Department of Health and Human Services opposing the proposed rule “Patient Protection and Affordable Care Act; […]

Report detailing analysis of climate risk exposure of insurers’ investments now available

(Sacramento, CA – Insurance News 360) – On Jan. 4, California Insurance Commissioner Dave Jones released the results of analysis of climate risk exposure faced by insurance industry investors. The climate risk scenario analysis, prepared for the Department by leading climate risk modeler 2° Investing Initiative, is the first of its kind to include analysis […]

Supreme Court denies review of decision upholding Commissioner’s Fair Claims Settlement Practices Regulations

(Los Angeles, CA – Insurance News 360) – A decade of legal battles over the implementation of the Unfair Insurance Practices Act (UIPA), the California Supreme Court denied review of the 4th Appellate District’s decision that upheld Commissioner Dave Jones’ Fair Claims Settlement Practices Regulations. The regulations detail how insurance claims must be processed, and are […]

California Insurance Commissioner estimates COIN impact investments could reach $29 billion

(Sacramento, CA – Insurance News 360) – Investments through the California Organized Invenstment Network (COIN) are expected to reach $29 billion by the end of 2018, according to California Insurance Commissioner Dave Jones. The report explains the program, which sources and structures financially sound investments for insurers. The expected outcome is based on prior data […]

California releases report on prescription drug costs and insurance costs

(Sacramento, CA – Insurance News 360) – On Jan. 2, the California Department of Insurance released the Prescription Drug Cost Transparency Report, which compiles information from nine health insurers about prescription drug coverage. The report includes information on prescription drugs dispensed at a plan pharmacy, network pharmacy, or mail order pharmacy for outpatient use, and […]

Job openings, hiring fall in November

(Washington, DC – Insurance News 360) – The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey for November revealed a drop to 6.9 million openings and a slight decrease in hires to 5.7 million, and a slight fall in quits to 3.4 million. Job openings dropped 243,000 to 6.9 percent on the […]

Enrollees with high deductibles engage more in healthcare than traditional plan enrollees

(Washington, D.C. – Insurance News 360) – The 14th annual survey of consumer engagement in health care shows that consumers are more cost-conscious and seek more information than in years past. The Employee Benefit Research Institute and Greenwald & Associates conducted a consumer engagement survey that looked at value-based health insurance design, growth of high […]