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Insurance Reform

News Release
10/1/2010
Posted by Consumer Watchdog
Leno/Schwarzenegger Bill Uses Insurance Industry's Chosen Language For Evaluating Premium Hikes Santa Monica, CA – Health insurance companies pursuing rate hikes in California received a boost yesterday with the signing of SB 1163 by Senator Mark Leno (San Francisco).  The bill, amended in the final days of the 2010 legislative...
News Release
9/27/2010
Posted by Consumer Watchdog
Program Gives Lifeline In Tough Economy With No Taxpayer Cost Santa Monica, CA -- Governor Schwarzenegger has signed legislation, AB 1597 (authored by Assemblyman Dave Jones) to maintain California's innovative auto insurance program for low-income Californians with good driving records. The California Low Cost Auto Insurance program (CLCA),...
News Story
9/23/2010
Posted by Consumer Watchdog
Click here to listen to the audio of this broadcast. The six-month anniversary of the new health law marks the official effective date of a raft of new consumer protections, including a ban on most so-called rescissions. That's the insurance industry practice of revoking an insurance policy retroactively, after a...
News Release
8/31/2010
Posted by Jamie Court
Santa Monica, CA -- Some of the top Democratic recipients of health insurance cash teamed up with Republicans in the California state senate late Monday to block health insurance premium legislation authored by state Assembly Members Dave Jones and Mike Feuer. Overall health insurers have given $800,218 in campaign contributions to California...
News Release
8/30/2010
Posted by Consumer Watchdog
Actuarial Soundness” Defense Protects Insurers At Expense of Rate Regulation, Consumer Watchdog Says Los Angeles, CA -- Anthem Blue Cross’s defense of its recent controversial premium increases will be codified in law under eleventh hour legislation by San Francisco State Senator Mark Leno, SB 1163, just as the California legislature...
News Story
8/16/2010
Posted by Consumer Watchdog
OLDWICK, N.J. -- Certain life insurance agents and broker-dealer firms could face increased legal liability depending on how the U.S. Securities & Exchange Commission rules on the fiduciary standard pertaining to the sale of investment products. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, signed into law on...
Blog Post
8/13/2010
Posted by Consumer Watchdog
Life insurers are facing broad criticism for profiting from the death benefits of soldiers and other life insurance policyholders even after a claim is supposed to be paid.  Insurers are using so-called "retained benefit accounts" to hold onto payments they owe to families of deceased policyholders. They deposit the funds in insurer...
News Release
8/12/2010
Posted by Consumer Watchdog
Program Provides Economic Opportunity in Tough Times, With No Taxpayer Cost   Santa Monica, CA – California lawmakers gave final approval Wednesday to legislation strengthening and extending the innovative “Low Cost Auto Insurance Program” that offers an affordable bare bones car insurance policy to low-income motorists...
News Story
8/12/2010
Posted by Consumer Watchdog
WASHINGTON, DC -- As Americans struggle with double-digit hikes in their health insurance bills, millions are coming up against a hard reality: The state regulators who are supposed to protect them can often do little to control what insurers are charging. In many states, it is the insurance industry that largely controls the regulatory process,...
News Release
8/12/2010
Posted by Consumer Watchdog
Insurers' Actions Mirror Credit Card Companies' Interest Rate Increases Ahead of New Consumer Rights   Washington, DC —Consumer Watchdog and the Center for Media and Democracy today asked the Obama administration to investigate how the major for-profit health insurance companies are reducing their proportion of spending on health care...