Insurance Rates

News & Analysis as of

Manatt on Health Reform: Weekly Highlights - July 2016 #3

Massachusetts’s Marketplace eliminates cost-sharing for addiction treatment in subsidized QHPs; Montana cuts its uninsurance rate in half; and a Kaiser report identifies the 50 most costly drugs for Medicaid....more

Price Optimization Class Actions Produce First Rulings

In recent weeks, two courts ruled on motions to dismiss the first wave of class action lawsuits based on alleged price optimization of auto insurance rates. In both Stevenson v. Allstate Ins. Co., No. 15-cv-04788 (N.D. Cal....more

IREG Update - The emerging regulatory battleground over long-term care insurance rate increases

The emerging regulatory battleground over long-term care insurance rate increases - As class action lawsuits challenging premium rate increases on long-term care (LTC) insurance have faced dismissal in recent years,...more

Proposed Illinois Bill would Prohibit the Use of Price Optimization by Illinois Insurers

The Illinois Legislature has a bill pending in the House Rules Committee that would ban the use of price optimization by insurers. Price Optimization is the practice of setting premiums based on factors that are not tied to...more

Storm Clouds Gather for Life Insurers’ Cost of Insurance Rate Increases

For more than two decades any insurer increasing its cost of insurance (COI) rates on its universal life policies was likely to be met with policyholder lawsuits and even, occasionally, regulatory resistance. Until the past...more

Federal court dismisses latest class action challenging long-term care insurance rate increases

On February 12, 2016, in Toulon v. Continental Cas. Co., an Illinois federal court dismissed with prejudice the latest class action suit against a long-term care (LTC) insurance company challenging the propriety of premium...more

Drug Costs, Risk Adjustment Drive Q2 Health Insurance Rate Increases

The Massachusetts Division of Insurance (DOI) recently held a two-day hearing on rate changes proposed by Massachusetts health insurance plans to be effective for the second quarter of 2016 (Q2). Presentations by carriers, in...more

The Latest on Price Optimization

Nearly one-third of the U.S. states have now issued directives on the use of price optimization to determine insurance rates and, to date, most states have taken a skeptical view of the practice. Meanwhile, at the national...more

Washington Healthcare Update

Bicameral Bill Introduced to Provide HHS Authority to Reject Proposed Insurance Rates - Before Congress left for its Columbus Day recess, Rep. Jan Schakowsky (D-IL) and Sen. Diane Feinstein (D-CA) introduced the Health...more

Are Insurers Engaged in Deceptive Practices and Illegal Pricing? If so, what can be done about it?

We wish to call attention to a disturbing trend, that even in the highly regulated field of personal lines coverage, homeowners and auto policies, the insurance industry is engaged in courses of conduct designed to write...more

Property & Casualty Personal Lines Insurers Doing Business In Rhode Island Have Until November To Remove Non-Risk Factors In Price...

Rhode Island’s Rhode Island Department of Business Regulation (“DBR”) has joined the growing list of state insurance regulators to issue a bulletin on the practice of price optimization. On September 18, 2015, the DBR issued...more

IREG Update

State insurance commissioners take on price optimization - To date, four states—California, Florida, Maryland and Ohio—have issued formal bulletins and memoranda, prohibiting the practice of “price optimization” by...more

April Fool's Day Sees National Flood Insurance Rates Rise

So what day would you pick to have your flood insurance premium double? April Fool's Day? You got it. Well, that's a little hyperbolic. Rates aren't doubling instantaneously tomorrow. Instead they are rising...more

California Bans Use of Price Optimization

Yesterday California Insurance Commissioner Dave Jones became the latest voice in a growing chorus of state insurance regulators who condemn the use of “Price Optimization” as a mechanism for adjusting property-casualty...more

Maryland Insurance Administration Prohibits Use of Price Optimization to Rate Property & Casualty Insurance Policies

On October 31, the Maryland Insurance Administration (MIA) issued Bulletin 14-23 (the "Bulletin") to property and casualty insurers. It prohibits the use of price optimization in setting rates for policies issued in Maryland....more

California's Prop 45: Sticking it to "the Man" or to the People?

Continuing our series covering the various measures Californians will see on the 2014 midterm election ballot, we now turn to Proposition 45, or the Public Notice Required for Insurance Company Rates Initiative....more

The Affordable Care Act—Countdown to Compliance for Employers, Week 34: When Can Carriers Impose Minimum Participation and Minimum...

Commencing with plan and policy years beginning on or after January 1, 2014, the Affordable Care Act amends the Public Health Service Act (“PHS Act”) to make three important changes to the rules governing health insurance...more

Approval Slated for $73 Million Settlement of Life Insurance Class Action Alleging Unlawful Rate Increase

United States District Judge Howard Matz of the Central District of California indicated yesterday that he would preliminarily approve a proposed $73 million settlement of a class action lawsuit against Conseco Life Insurance...more

Legal Alert: Cost of Insurance Litigation – Recent Rulings Diverge on the Scope of Insurer Discretion to Set Rates

Litigation continues in various cases challenging cost of insurance rates (COI) in life insurance policies, and January 2013 saw courts issue decisions going both ways on insurer discretion to set and modify COI rates. A...more

Labor & Employment E-Note - January 2013

In This Issue: - NLRB Protects Workers' Rights to Post About Job on Facebook - 6 States Ban Companies from Asking for Social Media Passwords - Health Law Requires Employers to Offer Family Care to All - Fiscal...more

Court Rules That Ohio Bureau Of Workers' Compensation Overcharged Non-Group Rated Employers

After a long bench trial which began on August 20, 2012, Judge Richard McMonagle recently issued his decision in an important class-action lawsuit. The suit was brought on behalf of certain employers doing business in Ohio,...more

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