A week after a cyberattack disrupted insurance processing at pharmacies across the US, health care professionals from Maryland to New York are still grappling with the fallout. The attack, which targeted a major insurance provider, caused delays in processing claims and verifying coverage for patients. Pharmacists have been forced to manually input insurance information, leading to longer wait times and frustration for both staff and customers.
After Ben's initial report about a homeowner whose insurance refused to renew unless her roof was replaced, several other homeowners shared similar stories. Many insurance companies are tightening their policies and raising premiums, citing an increase in natural disasters and the need for stronger infrastructure. Homeowners are feeling the financial strain of these requirements, with some unable to afford the necessary repairs to meet their insurance company's demands.
A special hearing to determine whether the school district will raise health insurance premiums for teachers is set for next Tuesday. The proposed increase has sparked outrage among educators, who argue that they are already struggling to make ends meet on their current salaries. Teachers are planning to protest outside the district office in hopes of influencing the decision makers to reconsider the hike in premiums.
The Office of Personnel Management, which oversees health insurance for 8 million federal workers and their families at a cost of more than, is facing scrutiny over its handling of benefits. Employees have reported issues with claims processing and coverage denials, prompting calls for greater transparency and accountability from the agency. Lawmakers are calling for an investigation into the OPM's practices to ensure that federal workers are receiving the benefits they are entitled to.
When a trip goes haywire, travel insurance suddenly comes into focus. A recent spat between a Boston restaurant owner and a customer over a canceled reservation highlights the importance of having insurance coverage for unforeseen circumstances. The customer was able to recoup the cost of their non-refundable deposit thanks to their travel insurance policy, demonstrating the value of being prepared for unexpected events.
Divides over Insurance Commissioner Tim Temple's ambitious plan to tilt Louisiana's property insurance market in favor of insurance companies have sparked controversy. Critics argue that the proposed changes would disproportionately benefit insurers at the expense of policyholders, leading to higher premiums and reduced coverage options. Temple is facing pushback from consumer advocacy groups and lawmakers who are calling for a more balanced approach to reforming the insurance industry.
Hurricanes and homeowners associations (HOAs) have cooled Florida's hot condo market. Condo homeowners have been forced to lower their asking prices and offer incentives to attract buyers due to rising insurance costs and stricter building code requirements. Many potential buyers are wary of purchasing a condo in Florida, fearing the financial burden of insurance premiums and assessments imposed by HOAs.
Condominium sales and prices in Miami, Jacksonville, Tampa, and other parts of Florida have dropped over the past year, largely due to the challenges in obtaining affordable insurance. Insurance companies have raised rates and reduced coverage options for condos in high-risk areas, leading to a decline in demand from buyers. Real estate agents are struggling to navigate the shifting market dynamics and are advocating for reforms to make insurance more accessible for condo owners.
Rocket Companies will soon shut down Rocket Pro Originate, a mortgage origination platform for real estate agents, insurance agents, and other partners. The decision to close the platform comes amid changes in the mortgage and insurance industries, with Rocket Companies shifting its focus to other areas of its business. Partners who relied on Rocket Pro Originate for mortgage and insurance services will need to find alternative providers to meet their needs.
