FREE Insurancenetworking.com Site Registration!
Sign up today and access the leading source of Insurance I.T. information on the Web.

Your FREE site registration entitles you to

FREE Insurance Networking eNewsletters

Search more than 7 years worth of archived data

White Papers and Industry Research that provide valuable insights on a variety of technologies and implementation issues

Access our Web Seminar series

   

Rate Setting and Claims Settlement Oversight Scrutinized

July 28, 2008

Washington — The House Energy and Commerce Investigations and Oversight Subcommittee has held hearings to consider the state of consumer protections in the long-term care insurance industry.

"This hearing will demonstrate that more Americans should consider protection if they can afford to do so and qualify for coverage," said John Dingell (D - Mich.), chairman of the Committee on Energy and Commerce in his opening remarks. "However, we must ensure that they are protected from unscrupulous and unethical conduct by some insurance companies and their salesmen."

The hearings follow on the heels of a report from Government Accountability office that found that "despite state oversight efforts, some consumers remain more likely to experience rate increases than others. Specifically, consumers may face more risk of a rate increase depending on when they purchased their policy, from which company their policy was purchased, and which state is reviewing a proposed rate increase on their policy."

Source: Committee on Energy and Commerce

Archive

Spotlights