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Gov. Gavin Newsom is proposing a bill that would require the state Department of Insurance to review rate-hike requests from home insurers within 60 days as companies pull back from the market due ...
The Affordable Care Act (ACA) established the health insurance rate review program in order to protect consumers from unreasonable rate increases. [1] Through this program, proposed premium increases in the small group and individual markets that are above a threshold amount (ten percent or more, as of February 2014) are reviewed by states or the federal government to determine whether the ...
Rate making, or insurance pricing, is the determination of rates charged by insurance companies. The benefit of rate making is to ensure insurance companies are ...
At various times in the past, the New York state government has taken money from NYSIF's reserves to cover other budget shortfalls. Between 1982 and 1990, $1.3 billion was transferred to the state's general fund under Governor Mario Cuomo. In 1996 the practice was banned by state law.
That’s because CD rates closely follow the federal funds rate, which is currently elevated due to the Federal Reserve's aggressive interest rate hikes and holds over the past year The Fed raised ...
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
At the conclusion of its rate-setting policy meeting on March 20, 2024, the Fed left the federal funds target interest rate of 5.25% to 5.50% unchanged, marking the fifth consecutive time it’s ...
The Kansas Insurance Department was established by the Kansas Legislature in 1871. It has four major regulatory functions: Regulate and Review Companies: Sixty-five companies are headquartered in Kansas, plus 1,592 other companies sell policies in Kansas.