Insurance
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Benefits paid for workers’ compensation increased in Rhode Island and much of the nation, but fell in Massachusetts in 2011, according to a report by the National Academy of Social Insurance. more
Rhode Island took the first step in its goal to make health-insurance costs and services more transparent with the Aug. 20 release of data on plans that will be offered through the state’s new insurance marketplace, HealthSourceRI. more
(Updated, 2:35 p.m.) Allstate Insurance Company this week said it wants to add more than 30 new insurance agents in Rhode Island over the next year, revising expansion plans first announced in July 2012. more
Bank of America Corp.’s Countrywide unit sold thousands of bad loans, defrauding Fannie Mae and Freddie Mac out of more than $1 billion in mortgages, prosecutors said at the start of a federal trial. more
The R.I. Emergency Management Agency will host a series of public information sessions on recent changes to federal flood insurance policies in conjunction with the Federal Emergency Agency, RIEMA announced Friday. more
HealthSourceRI customer-service agents will help set the tone for the reception the Affordable Care Act gets in Rhode Island when residents begin to phone in for health-insurance-policy information and purchases beginning Oct. 1. more
With the Affordable Care Act expected to push all but the sickest out of the hospital setting and into community-based care, today’s and tomorrow’s nurses will increasingly team up with other medical professionals to deliver services. more
Seventy-five years ago last month, The Great New England Hurricane, or the Hurricane of ’38, altered the southern New England coastline and perception of the region’s vulnerability to severe weather. Since then, meteorologists have made huge advances in hurricane forecasting unimagined in the 1930s, while communities have built storm barriers and coastal fortifications. But we’re still vulnerable. Karen Clark, whose consulting firm advises businesses and insurance companies on catastrophe risk and modeling, has developed new tools for estimating the losses that will occur from different storm tracks. She recently released a report on what we could expect if a storm like the Hurricane of 1938 landed in New England today and discusses that and other unpleasant scenarios. more
New federal flood maps have made it difficult for some Rhode Island property owners to sell, insure or rebuild their houses, but state officials say the maps still understate how vulnerable beachfront communities are to future storms. more
Last week, on the one-year anniversary of Hurricane Sandy, property insurer FM Global issued a whitepaper outlining the importance of assessing natural disaster risk for CEOs and business leaders. more
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