Insurance News

Posts Tagged ‘Costs

Group Health Research Institute has received a $2 million federal grant to study whether a relatively new health-insurance model can support and improve patient health, and hence can reduce cost.

If it does, many insurers and self-insured employers may well adopt this model, which uses financial carrots and sticks to nudge patients to use health care of proven benefit and to make them think twice before spending money on medical services that Read the rest of this entry »

CALGARY, Alberta (Reuters)—Enbridge Inc.’s struggles mounted Tuesday as its U.S. affiliate said the oil spill that fouled a Michigan river system could cost as much as $400 million and regulators slapped it with a $2.4 million fine for a deadly 2007 explosion in Minnesota.

Enbridge Energy Partners, the Houston-based operator of the U.S. part of the company’s massive pipeline system, said total charges for the July 26 pipeline rupture near Read the rest of this entry »

Oregon homeowner insurance is among the least costly in the nation, averaging $496 a year, according to a nationwide survey.

That compares to an average $822 nationwide and is lower than all states except Idaho and Wisconsin.

The 2007 data, the most recent available, was released recently by the National Association of Insurance Commissioners.

?Oregon?s competitive insurance market helps keep premiums low, as does the Read the rest of this entry »

The average vehicle crash damage repair on an adjusted basis increased $164 in the third quarter, according to an electronic processing provider for the collision industry.

San Diego-based Mitchell International said in the third quarter average gross appraisal value for comprehensive coverage estimates processed through company servers was $2,468 compared to $2,356 in the same period for 2008.

Applying a development factor of 2.1 Read the rest of this entry »

Across the country, 64 million people younger than age 65 are part of families spending more than 10% of their pretax income on health care, according to a Families USA study, the Boston Globe reports. The study also found that about 19 million U.S. residents spend more than 25% of their income on health care.

The study found that Massachusetts — despite its universal health care law — has more than one million residents in families that Read the rest of this entry »

The long-awaited federal upgrade of the 35-year-old regulation governing vehicle roof strength will save 135 lives, prevent more than 1,000 injuries and add up to $1.4 billion annually to the cost of new cars, the Transportation Department said.

Under pressure from Congress, the National Highway Traffic Safety Administration boosted new roof-strength requirements when it finalized last week its long-awaited upgrade of roof-strength requirements Read the rest of this entry »

ZURICH (Dow Jones)–Insurers are learning that prevention is better than cure. It keeps costs and claims in check, shields corporate profits and costumers like it too.

Instead of just paying out claims after a disaster strikes, some insurers are telling clients how to avoid being hit by a calamity in the first place.

Analysts say this model may emerge as a viable business approach as firms seek to curb expenses as a way of countering Read the rest of this entry »