Insurance Department Alerts Consumers to Unlawful Practice of “Price Optimization” by Insurance Companies

first_img September 10, 2015 Insurance Department Alerts Consumers to Unlawful Practice of “Price Optimization” by Insurance Companies Government That Works, Press Release Harrisburg, PA – Governor Tom Wolf joined Insurance Commissioner Teresa Miller today in alerting consumers that the Insurance Department will continue to oppose a practice known in the industry as “price optimization”, in which sophisticated pricing tools are used to charge different premiums to policyholders who present essentially the same risk to the insurer, with the price differences based on whether or not a particular policyholder is likely to shop around for less expensive coverage.“My administration is working with Commissioner Miller to ensure that Pennsylvania consumers are protected from unlawful schemes like price optimization,” Governor Wolf said. “We will continue to promote these vital consumer protections laws across the Commonwealth.”So-called “price optimization” occurs when an insurer uses software and rating models to set insurance rates based in some way on how much a consumer or group of consumers may be willing to pay before they would shop around for a better price.“As part of Governor Wolf’s emphasis on consumer protection, I have notified insurers that I will not approve any such rates that violate state laws requiring all persons of the same class and the same hazard or risk to be charged the same premiums,” Commissioner Miller said. “In short, this practice takes advantage of a customer’s loyalty to a company.”State law dictates that the practice of charging different premiums to people who are statistically more likely to cost the insurer the same amount in claims and expenses is unfairly discriminatory. Commissioner Miller said that while the Insurance Department has not approved these premiums in the past, as part of Governor Wolf’s emphasis on transparency and consumer safety, her department is working hard to spread awareness about this prohibition statewide.Commissioner Miller recommends that customers, especially in the areas of homeowners and auto insurance, discuss premium increases with their agents. If the agent is not able to provide a satisfactory reason for any premium increase, consumers should shop around to see whether comparable coverage is available from another company at a better price. She noted that Pennsylvania has a competitive insurance market, with many options available to consumers. Any consumer who has questions about any aspect of insurance can contact the Insurance Department at www.insurance.pa.gov, or by calling 1-877-881-6388.# # #center_img SHARE Email Facebook Twitterlast_img read more

Local Musician Jimmy Buffett Launches Cannabis Brand

first_imgSouth Florida resident and musician Jimmy Buffett is collaborating with a company called Surterra Wellness to launch a new cannabis brand named after his band, Coral Reefer.The company and Buffett held a kick-off event this weekend at Surterra’s North Palm Beach facility.Buffett stops by Surterra Wellness for Coral Reefer kickoff – https://t.co/BNNIVN39TS pic.twitter.com/cbQqityPc9— Buffettnews.com (@buffettnews) April 21, 2019 Buffett says, “It never dawned on me that Coral Reefer would be anything other than a cool name for a tropical band born out of the Key West lifestyle in the mid-70s. But life is supposed to be about having fun and staying healthy enough to enjoy it. I think Coral Reefer will help a lot of folks do that.”According to a press release, Coral Reefer will initially offer a surfboard-shaped vaporizer named the TideRider, as well as a selection of cannabis concentrates to be used with the vapes.Dried cannabis along with other, edible products could be introduced later this year.last_img read more

Boys indoor track Lakers star at Oscar Jensen meet

first_imgOnce again, the Cazenovia boys indoor track and field team made strong impressions against high-quality competition in its second meet of the season at SRC Arena.To get going at last Saturday’s morning session of the Oscar B. Jensen Holiday Relays, the Lakers had Joe Spires and Slater DeLeon go 1-2 in the 300-meter dash, Spires prevailing in 37.66 seconds and DeLeon (37.96) edging Central Square’s Nick Maw (37.97) for the runner-up spot.Another 1-2 effort came in the 3,200-meter run, Jared Smith beating the field in 10:18.03 as teammate Mike Senehi made his way to second place in 10:23.19. Smith also contended in the mile, his time of 4:45.13 topped only by Auburn’s Jimmy Vasile, who won in 4:44.14.Andrew Kent was victorious in the 600-meter run in 1:29.01, the only time under the 1:30 mark, while Connor Wilson was second in the 55-meter hurdles in 9.06 seconds and Jason Olkowski finished eighth.Dalton Sevier, clearing 6 feet, was second to Liverpool’s Bennett Robb (6-2) in the high jump, and took third in the pole vault with a best leap of 11 feet.Gordon Wester threw the shot put 38’3 1/2” and took thirdplace, Olkowski ninth with a toss of 34’6 1/4”. Wester added a seventh-place finish in the weight throw, heaving it 35’3 1/4”.DeLeon got a third-place long jump of 18’5 1/2” as Dylan Anderson earned fifth place with 17’9”. Dylan Alibcker was fourth in the triple jump, going 37’8 1/2” just ahead of Anderson, who was sixth with 36’8 1/2”.Share this:FacebookTwitterLinkedInRedditComment on this Story Tags: boys indoor trackCazenovialast_img read more

Drone injures guest at Pi Kappa Phi party

first_imgAt a registered party hosted by the Pi Kappa Phi fraternity on Saturday night, a drone managed by the event planning company Extreme Greeks fell on a party attendee, causing her to be transported to a local hospital.According to a Department of Public Safety report, the person in question was a non-USC female who suffered a cut to her head after the drone, which was being used to take aerial photos of the event, fell from the sky.“I’m glad to say that the girl is doing fine after what happened Saturday night,” Pi Kappa Phi president Austin Horton said in an email to the Daily Trojan. “We are working with Extreme Greeks to determine what caused the drone to fall.”Events of this magnitude are officially cleared with USC and DPS, which helps ensure a quicker response time when incidents like this do occur.“Companies like Extreme Greeks provide added security to make a safer environment for social functions at USC,” said Jake Simon, president of the Interfraternity Council.Both IFC and Pi Kappa Phi declined to address whether the company would be facing any legal action as a result of the incident.Extreme Greeks also declined to comment on the incident.The Delta Chi fraternity’s fall register this Saturday is also employing Extreme Greeks. However, the fraternity’s social chair, Spencer Gilbert, has confirmed they will not be using drones.last_img read more