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All articles tagged with #insurance

politics3 days ago

Ohio’s health-care pain could tilt the midterm map for Democrats

Democrats in Ohio see rising health-care costs and looming Medicaid/ACA funding changes as a potential opening to gain power, campaigning in rural and Trump-voting areas with proposals to restore ACA subsidies, bargain drug prices, and forgive medical debt amid hospital closures and higher bills; Republicans focus on fraud crackdown and program integrity, but voters’ anxiety over coverage and costs is driving a broader health-care narrative ahead of the midterms.

via Politico|
#health-care#insurance#medicaid
politics4 days ago

Newsom’s final wildfire-cost gamble tests California’s finances

With only months left in his term, Gov. Gavin Newsom is pushing an eleventh‑hour bill to cap utility liability for wildfires, bar insurers from buying loss claims, and create a state fast‑pay program for survivors—reforms that could reshape wildfire financing but draw fierce opposition from insurers, local officials, and victims who fear higher rates or undercompensation, while supporters say the package is needed to preserve California’s power system and address escalating wildfire costs.

via Politico|
#california-policy#gavin-newsom#insurance
Costco to Launch Costco-Branded Medicare Plans with SCAN Group
health-care6 days ago

Costco to Launch Costco-Branded Medicare Plans with SCAN Group

Costco Wholesale and SCAN Health Plan are partnering to offer Costco-branded Medicare plans, marking Costco’s first foray into Medicare. The rollout will begin with Medicare Advantage products in two states and a Medicare supplement plan in a third, subject to CMS approval. Plans will be sold in Costco stores and through traditional channels, with federal rules prohibiting bundling the plans with a Costco membership. SCAN’s footprint covers 33 counties across CA, AZ, NV, TX, NM, and WA, serving about 460,000 members (roughly 500,000 when affiliated programs are included).

via Yahoo Finance|
#costco#health-care#healthcare
State Farm kicks off $5B cash-back to auto policyholders, average around $100
personal-finance7 days ago

State Farm kicks off $5B cash-back to auto policyholders, average around $100

State Farm Mutual began distributing a one-time $5 billion cash-back dividend to auto policyholders after stronger-than-expected underwriting, with average payouts around $100 per customer (range 4–10% of 2025 premiums, varying by state). Eligibility covers private passenger auto policies in 2025, with payouts issued in waves. Those with registered emails will get portal instructions to choose payment method, while others will receive a mailed check; the dividend does not affect future auto rates.

via NBC Chicago|
#auto#cash-back#dividend
Mark Walter's Lakers Bet Exposes a Hidden NBA Risk
business10 days ago

Mark Walter's Lakers Bet Exposes a Hidden NBA Risk

TrueHoop argues the NBA missed warning signs about Mark Walter’s financing of major sports purchases, showing how Walter and Todd Boehly used insurance-policy funds and private credit to bid for teams like the Dodgers and the Lakers. The piece recalls a 2012 Dodgers deal and a 2014 lawsuit to illustrate long-standing concerns about asset valuation and leverage, notes ongoing probes into Mubadala Capital and related transactions, and warns that such financial structures could pose systemic risks. It also critiques league oversight and hints at possible consequences for ownership dynamics, including the Lakers' future amid broader sports-finance pressures.

via truehoop.com|
#business#finance#insurance
Newsom’s wildfire-liability plan sparks insurer-utility clash
politics13 days ago

Newsom’s wildfire-liability plan sparks insurer-utility clash

California Gov. Newsom is pressing a last-minute package to curb wildfire costs by limiting utilities’ liability and speeding payouts from a state wildfire fund, a move insurers call a potential bailout and wildfire survivors fear could shortchange damages. The proposal would cap some damages, trim attorneys’ fees, curb subrogation, and require shareholders to help reduce rates, while lawmakers debate the details and potential unintended consequences amid a backdrop of past wildfires and ongoing utility-financing concerns.

via CalMatters|
#california-public-utilities-commission#insurance#pgande
Spokane wildfire rebuild could reshape housing scene for years
business15 days ago

Spokane wildfire rebuild could reshape housing scene for years

Wildfires in Spokane County destroyed 900+ structures and burned over 10,000 acres, triggering a multi-year rebuilding push that could strain an already tight housing market, lift prices and rents, and test builders, insurers, and government relief efforts; some survivors may relocate rather than rebuild, while officials push to speed permits and access Housing Trust Fund resources to accelerate recovery.

via The Spokesman-Review|
#business#housing-market#insurance
Europe's insured risk gap widens as wildfires outpace coverage
business18 days ago

Europe's insured risk gap widens as wildfires outpace coverage

Europe’s wildfires and heatwaves are driving recovery costs higher than insurance coverage, creating a growing “protection gap” as governments bear cooling, healthcare, and infrastructure costs. Leading insurers like Zurich and Munich Re warn that Europe’s wealth remains underinsured and more systemic risk mitigation and government-backed resilience are needed, with about €3.1 billion in costs through July across five exposed eurozone countries.

via CNBC|
#business#climate-change#europe
Drone Attacks Put Wildberries’ Liability for Russian Sellers Under Scrutiny
business27 days ago

Drone Attacks Put Wildberries’ Liability for Russian Sellers Under Scrutiny

Ukrainian drone strikes damaged 11 Wildberries warehouses in Russia, causing heavy seller losses and uneven relief; under Russia’s Civil Code the custodian is responsible for safekeeping after goods are accepted, but a July 7 update treats drone attacks as force majeure only for goods delivered after that date, complicating compensation. Wildberries’ own insurance covers some transit and pickup-point losses but not stock held in warehouses, and many insurers either classify drone damage as force majeure or exclude it. Sellers can insure stock, diversify storage away from high-risk warehouses, or use their own facilities; in case of losses, they should document everything, file claims with Wildberries, and consider court action if compensation is refused. State-proposed protections are being discussed but not yet enacted.

via Meduza|
#business#drone-attacks#e-commerce