President Barack Obama is warning health insurance companies that he won’t hesitate to block any company mergers that will stifle competition, while also warning homeowners to protect their homes against a rapidly-approaching hurricane season. Also, MetLife is offering a new tool to help individuals choose life insurance options more effectively.

Government Blocks Health Insurer Attempts at Mergers

Christine Varney, antitrust chief of the Justice Department, told a lawyers’ conference that the Obama administration plans to vigorously enforce anti-monopoly laws so that the newly-passed health care reform bill will see ultimate success. She note

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Health insurance companies are seeking to once again raise rates, a vehicle monitoring system that could lower auto insurance rates raises concerns of privacy and AIG is looking to sell two more life insurance units to raise money.

Anthem Blue Cross Seeks Rate Hike

Earlier this year, Anthem Blue Cross proposed a 39 percent rate hike for its California customers, but after receiving a lot of criticism from everyone including President Barack Obama, the health insurance company temporarily suspended the increase. Now the company is proposing that the rates be increased again, but this time by 20 percent.

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One of the most underused features of a travel insurance plan is actually the range of travel assistance services provided. Let’s say Carl visits Buenos Aires on business, with an international travel insurance plan that features several travel assistance services. When on the trip, he loses his travel documents and credit cards. Typically, travel assistance services include help and reimbursement in case of identity theft.

To get help, the insured must contact the insurance company (the local customer service number should work), and give the details of the theft. Depending on the plan, the insurance company offers advice on the next steps.

It is not uncommon for insurance companies to also help liaise with local law enforcement. I Full post…

The Michigan Supreme Court supported the practice of using credit scores to set auto and home insurance rates of policyholders. Some say that using credit history discriminates against poor and middle-class people. But those in the insurance industry says it makes sense because credit scores are often indicative of whether a person will file claims. Michigan’s high court voted 4-3 in a case that questioned whether the state’s insurance examiner exceeded her authority in 2005 by trying to ban the credit-based scoring, according to the Detroit Free Press. “We’re very pleased with the ruling,” Peter Kuhnmuench of the Insurance Institute of Michigan told the Detroit Free Press. “The evid Full post…

Healthy Pets, the pet insurance specialist, has recently relaunched its website.

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You want to extend any benefit that you get in life to your children, and a travel insurance plan during a trip is no exception. With many plans such as the Travel Plus cover from Travelex, when you purchase a travel insurance plan for an adult, one child under 16 years is automatically covered, at no additional cost.

When Mary went to South Africa on a business trip in January, she was joined by her husband and their two children after her work, making it a brief family holiday. The best part was that the children had free travel health insurance, since she had cover from the Travel Plus plan. Full post…