Todayâ€™s News: Govâ€™t Blocks Health Insurer Mergers, Home Insurance Necessary for Hurricane Season and Life Insurance Assessment Tool Available
President Barack ObamaÂ is warningÂ health insurance companies that he won’t hesitate to block any company mergers that will stifle competition, while also warningÂ homeowners to protect their homes against a rapidly-approachingÂ hurricane season. Also,Â MetLife is offering a new tool to help individuals choose life insurance options more effectively.
Government Blocks Health Insurer Attempts at Mergers
Christine Varney, antitrust chief of the Justice Department, told a lawyers’ conference that the Obama administration plans to vigorously enforce anti-monopoly laws so that the newly-passed health care reform bill will see ultimate success. She noted that the point of the bill was to control premiums for policyholders and this can’t be accomplished without competition between numerous health insurance companies to drive down the prices. The department plans to actively investigate big insurers to stop monopolies before they start. (Associated Press)
Check Your Home Insurance Policy During National Hurricane Preparedness Week
President Barack Obama had announced that May 23 – 29, 2010 was National Hurricane Preparedness Week, during which time homeowners were to make sure their homes were prepared for hurricane season starting on June 1.
As summer continues, it’s good to make sure your home insurance policy fully covers your home if you live in an area prone to hurricanes. Also, it’s good to make reinforcements to your home that could better protect it and potentially lower your home insurance rates as a result.
MetLife Offers New Life Insurance Assessment Tool
Insurer MetLifeÂ announced recently that it would be offering a new life insurance needs assessment tool along with tips to help insurance seekers better understand how to getÂ started with a new policy. The company will offer anÂ online Life Insurance Needs Calculator that offers guidanceÂ in determining how much life insurance consumers need as well as how much they should expect to pay from MetLife. Also, tips will be made available to help simplify the application process. (Market Watch)