Tag: Insurance
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Model, dealer selection affected by word-of-mouth and online research when looking for a new car
(Singapore – Insurance News 360) – In the United Arab Emirates, nearly 75 percent of buyers ask friends or relatives for car advice, or do online research to choose a model and brand of vehicle to purchase, according to the JD Power 2018 UAE Sales Satisfaction Index study. Vehicle pricing, features specifications, warranty, sale promotions,…
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Final Rule Creates Pathways to Success for the Medicare Shared Savings Program
(Baltimore, MD – Insurance News 360) – The Centers for Medicare and Medicaid Services (CMS) issued a final rule which creates a new direction for the Medicare Shared Savings Program. The new direction is called Pathways to Success and redesigns participation options to encourage Accountable Care Organizations to move to performance-based risk more quickly, and…
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Department of Transportation announces $908 million loan for Cotton Belt Corridor Regional Rail Project
(Washington, WA – Insurance News 360) – On Dec. 21, U.S. Transportation Secretary Elaine L. Chao announced the Build America Bureau has awarded a $908 million Railroad Rehabilitation and Improvement Financing (RRIF) direct loan to Dallas Area Rapid Transit to finance the Cotton Belt Corridor Regional Rail Project. “This financing demonstrates the Department’s commitment to…
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Vermont Department of Financial Regulation and Secretary of State Collaborate on Captive Insurance Blockchain Pilot
(Montpelier, VT – Insurance News 360) – Vermont Department of Financial Regulation Commissioner Michael Pieciak and Secretary of State Jim Condos on Jan. 9 signed a memorandum of understanding regarding a collaboration to explore blockchain technology and its use in digital record keeping practices of the captive insurance industry. The next day the two offices…
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Arch Insurance Company, National Untion Fire Company must provide $8 million in rebates; must pay $2.2. million in fines
(New York, NY – Insurance News 360) – New York Financial Services Superintendent Maria T. Vullo announced a combined $2.2 million in fines against Arch Insurance Company (Arch) and National Union Fire Insurance Company of Pittsburgh, PA (National Union Fire), and ordered the insurers to issue $8 million in retroactive rebates after violating state insurance…
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Minnesota Commerce Department investigation reveals Frontier Communications failure to provide adequate, reliable service
(Saint Paul, MN – Insurance News 360) – On Jan. 4, the Minnesota Commerce Department filed an investigative report with the Minnesota Public Utilities Commission alleging a failure by Frontier Communications to provide adequate, reliable phone and internet service to customers in Minnesota. The report suggests that the company be made to refund or credit…
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Hayashida named Hawaii Insurance Commissioner
(Honolulu, HI – Insurance News 360) – Colin M. Hayashida was named Hawaii insurance commissioner, according to an announcement issued on Jan. 3. Department of Commerce and Consumer Affairs Commissioner Catherine P. Awakuni Colon made the appointment, effective Jan. 1, 2019. “I’m honored to have this opportunity and look forward to undertaking the important role…
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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…
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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…
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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;…