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For years, disaster seemed to follow him. It was really an arson-for-profit scheme.

“Several of his acquaintances were similarly beset by combustion, based on the numerous insurance claims they filed for ruined vehicles, houses, apartments and trailers” reports washingtonpost.com. He said antitrust laws restrict how much information competing insurance companies can pool.According to the indictment, each participant in the scheme victimized multiple companies, but no defendant bought a policy from the same company more than once. Source: washingtonpost.com Share This:

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The American Health-Care System Increases Income Inequality

“That meant that these families spent something like a third or more of all their income on health care” writes Newkirk Ii for theatlantic.com. They found that income inequality in 2014 actually increased by 1.5 points after medical expenses were subtracted from income.That includes both the absolute cost of health care and the myriad ways the cost is passed onto people with insurance.Health insurance is supposed to mitigate those cost and information barriers.Of the 7 million, 4 million found their post-health-care income reduced below 50 percent of the poverty line,…

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Zurich pulls back on some dealerships’ insurance

“Zurich North America no longer will offer property and casualty insurance to independent dealerships and some franchise dealerships, a spokeswoman told Automotive News on Friday” writes Hannah Lutz for autonews.com. “In fact, Zurich remains one of the largest insurance and vehicle service contract providers for U.S. franchise auto dealers.”. Zurich will continue to offer property and casualty insurance to “mega dealer” customers nationwide and to many of its franchise dealership clients.It also will continue to offer finance and insurance products to dealerships nationwide. Source: autonews.com Share This:

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How to Persuade the Young and the Healthy to Sign Up for Health Insurance

“But we bet that for people who have already signed up for an insurance plan, these principles will engender deep loyalty and trust as they begin to see how their insurance plan serves their best interests” reports hbr.org. Since V-BID’s additional choices would only add to the complexity, it could be too much for individuals shopping for an insurance plan.One of the big challenges in both expanding the number of Americans with health care coverage and keeping premiums affordable for people with chronic or serious illnesses has been persuading young and healthy…

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GE stock tumbles to wipe out all of 2018’s gains

“General Electric Co.’s stock GE, -4.72% tumbled 4.8% in afternoon trade Wednesday, putting it on track for the lowest close in over six years, as investors continued to express concerns over the billions in surprise losses in GE’s legacy insurance business” writes Reporter Editor for marketwatch.com. After rallying as much as 9.6% in 2018 through last Thursday, then gave everything back, and then some after the insurance loss news.J.P. Morgan analyst Stephen Tusa reiterated his underweight rating on the stock, and price target of $16, which is about 7.8% below…

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Florida policymakers, put consumers ahead of assignment of benefits abusers | Opinion

“Florida lawmakers should resolve in 2018 to put Florida insurance consumers ahead of litigation abusers and restore AOB to its legitimate intent” writes Ron Jackson for sun-sentinel.com. To that end, lawmakers should act to discourage and prevent needless and abusive assignment of benefits litigation.The first New Year’s resolution that lawmakers should make is to reform assignment of benefits (AOB). Source: sun-sentinel.com Share This:

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Trump tax plan compounds $6.2 billion blow from GE insurance troubles

“That will compound the blow from a $6.2 billion charge related to rising liabilities for a life and health insurance business whose policyholders are growing older and sicker” writes James Langford for washingtonexaminer.com. The CEO said Tuesday he expects to continue shrinking GE Capital, the once-sprawling lending arm that also houses the insurance business, which his predecessor began winding down in 2015.While there’s an initial cost from the tax bill, too, she said GE likes its new business framework.The difference, ultimately, is that the tax bill will provide benefits to…

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The bill to avoid a government shutdown could include a slew of changes to Obamacare’s taxes

“The Cadillac tax has been frequently delayed as it is not politically popular with constituents on either side of the aisle” writes Bob Bryan for businessinsider.com. Lawmakers told reporters that the program could get a six-year funding extension as part of the bill this week.According to The Hill’s Peter Sullivan, delays of the implementation for a number of taxes built into the Affordable Care Act, or Obamacare, could be included in the funding bill.Kevin Brady, the chair of the Ways and Means committee, told reporters on Thursday that the Cadillac…

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GE to take $6.2-billion charge tied to GE Capital

“General Electric is taking a $6.2-billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital’s runoff insurance portfolio” writes Associated Press for latimes.com. Flannery reiterated that the focus of the Boston company remains on making GE Capital “smaller and more focused.”. GE said last year that it would review its insurance reserves, particularly long-term polices generated by primary insurers, which were then re-insured by GE Capital and the holdings of its North American Live and Health. Source: latimes.com Share This:

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