Alaska — Market Stability
Alaska’s Division of Insurance Director Lori Wing-Heier recently gave the Senate’s Health & Social Services Committee a picture of what the state’s health insurance market looks like.
And in a word: expensive.
Wing-Heier said enrollment numbers are down and that premiums — among the highest in the country — are rising. The individual market is up by 5,867 and the group market increased by 2,972 between the 2014 and 2015. While those figures are up, the number of insurers in the state are down. Aetna and Assurant no longer offer small group market insurance and the individual market has just Premera and Moda and Moda is struggling financially.
At the end of open enrollment the numbers in the individual market sat at 23,029. That’s down from 2014.
Source link: Insurance Business America
Arizona — Insurance Tax Cut
Arizona’s Republican House wants to speed up the insurance cuts passed last year by the Legislature. They’re to be phased in over a decade. The House bill has passed that wants to cut the $28 billion cut timeline in half and make it five-years and not 10.
It’s now on to the Senate.
Source link: Insurance Journal
California — El Nino’s Non Relief
California officials hoped El Nino would fill up valleys with water and the mountains with snow. In some areas that happened but in other areas of the state — like its most southern region — it didn’t.
With most of the rainy season behind us, Hydrologist Rob Hartman said it’s not likely to happen. He runs the California Nevada River Forecast Center in Sacramento and said, “It has been extremely disappointing. January was quite good to us, February was not. Our water supply forecast for the spring period is falling like a stone.”
Officials at the U.S. Drought Monitor in Lincoln, Nebraska said 99.57% of the state continues to be in some form of drought. That’s not much better than the original forecast of 100%.
Source link: PropertyCasualty360.com
New Mexico — Ridesharing Now Legal
The New Mexico Legislature has adjourned but not before making ridesharing services provided by Uber, Lyft and others legal.
Governor Susana Martinez supports the bill and will sign it into law.
The bill defines these firms as transportation network companies and as such are not regulated by the Motor Carrier Act that regulates the state’s taxis. Instead, the Public Regulation Commission will regulate them.
To do business in the state, each firm will be required to pay $10,000 a year for a permit and background checks will be required for all drivers.
As for insurance, $1 million will be required by drivers for death, bodily injury and property damage and that insurance must be in effect from the time the driver is logged into the app.
Source link: R Street
Oregon — Report of Qualifying Financial Examination: Marquis Advantage Health Plan
The Oregon Division of Financial Regulation, Insurance Institutions section recently published the following report:
Report of Qualifying Financial Examination of Marquis Advantage Health Plan, as of February 12, 2016
To view or download this report, please visit our website at:
Washington — Red Light Cameras
Nobody likes red light cameras. That’s especially true in Seattle. In 2015 red light cameras caught 40,000 violators and that 40,000 were issued tickets. While drivers hate them, the city’s coffers do not.
Red light cameras brought in $5 million in revenue.
In fact, revenue is so good that the Seattle Department of Transportation is looking at adding even more to the 31 cameras posted at 23 intersections.