Property Insurance

Eleven health insurers were ordered by New York regulators to refund $114.5 million to policyholders because they ran afoul of the medical loss ratio requirements in the state.

The refunds, announced by Gov. Andrew M. Cuomo, will go to 573,748 people for premium overcharges they paid in 2010.

This should serve as a message to companies that we are watching, and we will not tolerate any action that wrongly hurts the finances of the people of New York, Cuomo said in a statement.

Under New York State law, insurers are required to spend 82 cents of every dollar collected in premiums on providing medical care.

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Almost seventy to eighty percent of building occupants in New York are tenants. With such a high number, renters’ insurance coverage ought to be amongst the most utilized coverage that New York insurance companies offer. Such coverage has proven beneficial when least expected to those who have them. It is however important to make the right choices by taking note of a few dynamics to ensure you enjoy your coverage when needed, in the best way possible.

The type of renters quote that one purchases is as crucial as the benefits they may get when the insurance will be needed. Many people always tend to go for cheap tenants quotes, and no one will blame them, especially at such hard financial times. H Read more…

Google has become the first company to test a new wireless electric vehicle charger that may be the next step in green energy technology, according to Wired magazine. 

Plugless Power

The charger was developed by the Virginia-based company Plugless Power and was installed in Google’s Mountain View headquarters in California, reported the magazine. The device replaces an electrical outlet with a charging pad that a vehicle can park over top of to recharge – however, as of now only specialty-built cars have the technology to use the wireless device.

The magazine said the pad system is based on a principle known as inductive charging, where an electrical transformer is split between the vehicle and the charger.

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Wildfire insurance claims are raging in Texas. The Texas Association of Public Insurance Adjusters will talk about wildfire claims at its Fall Conference in Dallas on November 16 and 17. The speaker presenting this topic promises that the discussion will be practical, guaranteed not to put you to sleep, and worth hundreds of thousands of dollars in excess of the price of admission.

The TAPIA Board of Directors has done an extraordinary job of keeping the price of admission affordable so everybody can attend. Since admission is only $95, every public adjuster involved in a fire insurance claim should attend for practical tips and advice.

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If you are like most of the other individuals today who are looking to purchase an individual health insurance policy, then you are most likely also looking for the cheapest option which would provide you with the coverage you need. A good way for you to list down some of the most affordable policies which offer the level of coverage you are looking for would be through getting online quotes.

Because of the competition in the health insurance industry, most insurance providers have come up with ways on how they can beat their competition and one of the things that they have come up with would online quote calculators and websites which are packed with plenty of useful information that potential policyholders can use in making a decision. Read more…