Insurance News
You will find news releases on insurance topics such as insurance fraud. News releases date five years back. After five years, releases will automatically drop off of this page.
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Commerce Department to hold Public Meeting in North Mankato to gather input on MCHA Transition Plan
June
07, 2013 - SAINT PAUL, MN – The Minnesota Department of Commerce will hold a public meeting Monday, June 10, 2013 between 5:30 p.m. – 7:00 p.m. at South Central College, Conference Center B in North Mankato to gather public input that best addresses the transition to new health coverage for people who have been enrolled in the state’s high risk health insurance pool, Minnesota Comprehensive Health Association (MCHA).
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Commerce Department to hold Public Meeting in Duluth to gather input on MCHA Transition Plan
June
04, 2013 - SAINT PAUL, MN – The Minnesota Department of Commerce will hold a public meeting Wednesday, June 5, 2013 between 2:30pm – 4:00pm at the Duluth Public Safety Building – Training Room to gather public input that best addresses the transition to new health coverage for people who have been enrolled in the state’s high risk health insurance pool, Minnesota Comprehensive Health Association (MCHA).
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Commerce Department Settlements on Life Insurance Accounts Top $1.1 Million and Add Consumer-Protection Changes
May
17, 2013 - SAINT PAUL, MN – The Minnesota Department of Commerce recently took action against Lincoln National Life Insurance Company and Northwestern Mutual Life Insurance Company due to alleged current or former practices that automatically enrolled consumers into retained asset accounts – without providing beneficiaries with the option to decide whether they wanted life insurance proceeds placed in such accounts which may not have been suitable for the beneficiary or paid in one lump sum cash payment upon the death of policy holder.
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Commerce Commissioner Mike Rothman Announces $14 Million settlement with Prudential on Unclaimed Death Benefits
May
15, 2013 - SAINT PAUL, MN – Commerce Commissioner Mike Rothman signed a Resolution and Regulatory Settlement Agreement with Prudential Insurance Company today to ensure payment of due and payable proceeds from life insurance policies, annuity contracts, and retained asset accounts to Minnesota beneficiaries, and strengthened procedures to make sure policy holders and beneficiaries receive the unclaimed proceeds from these policies and contracts in a timely manner in the future.
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Commerce Department Announces Important Information about Process and Timeline for Developing an MCHA Transition Plan
May
02, 2013 - SAINT PAUL, MN – In light of the 2014 implementation of the Affordable Care Act, the Commerce Department announced today key information regarding the process for assessing the need for, and developing a transition plan for the Minnesota Comprehensive Health Association (MCHA), including a FAQ, timeline, and goals.
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As part of Severe Weather Awareness Week Commerce Commissioner reminds families to review policies and procedures
April
18, 2013 - SAINT PAUL, MN – On average, Minnesota’s severe weather season sees 40 tornadoes per year creating the potential for property damage, financial distress, and personal danger for families. Severe Weather Awareness Week was created to provide an opportunity for households to review their emergency procedures and prepare for weather-related hazards.
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Commerce Commissioner reminds insurance agents to help Minnesotans prepare for the spring flood season
March
21, 2013 - SAINT PAUL, MN – As the snow and ice melt and we watch for the signal of a possible spring flood season, Commerce Commissioner Mike Rothman reminds all insurance professionals to emphasize the importance of preparation with their clients in order to protect themselves. Agents are strongly urged to reach out to their clients and the general public to inform them of the steps that can and should be taken now to address potential loss in the event of spring flooding.
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As part of National Flood Awareness Week, Commerce Commissioner reminds Minnesotans to inventory belongings ahead of the storm
March
20, 2013 - SAINT PAUL, MN – The first day of spring signals entry into severe weather season – floods, thunderstorms, and tornadoes. Minnesotans understand the volatility of weather, seeing record number of tornadoes in 2011 and an increased tornado season in 2012, beginning in March and ending in November.
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As drought continues, Commissioners Rothman and Frederickson urge farmers to review crop insurance needs
March
08, 2013 - SAINT PAUL, MN – Agriculture Commissioner Dave Frederickson and Commerce Commissioner Mike Rothman today issued a consumer alert encouraging Minnesota farmers to consider purchasing crop insurance ahead of this year’s growing season. The standard deadline for purchasing crop insurance is right around the corner. Farmers must finalize a crop insurance plan with their insurance agent by March 15.
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The Minnesota Department of Commerce urges consumers to review flood insurance needs
March
07, 2013 - SAINT PAUL, MN — As winter conditions turn to spring melting, the Minnesota Department of Commerce is reminding Minnesota homeowners to determine if they may need flood insurance coverage. Flood damage is not covered under a standard homeowner's policy.
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