News

The spreading epidemic of bogus health plans is hitting small businesses as well as consumers, a spokesman for the Coalition Against Insurance Fraud said.

Liberty Mutual Insurance Co. has brought a federal court action arguing that a sham transaction by General Re Corp. inflated the value of a company it sold to Liberty by millions of dollars.

To the relief of workers' compensation insurers and self-insured risk managers, the government has extended their deadline for reporting under the Medicare Secondary Payer Act until next year.

The Obama administration, launching an effort to get its health care reform legislation back on track, issued a report indicating that without changes health insurance premiums will continue to skyrocket.

So far State Farm is the only insurer to unearth data linking auto accident claims to problems with Toyota manufactured cars and trucks, but airing of industry statistics is still likely during two House hearings next week.

Legislation to extend the National Flood Insurance Program that is not tied to a jobs bill, is likely to secure passage before NFIP expires, sources said.