What's New for Insurance in the New Year 2008

With a new year, comes many changes. There's quite a few new things with insurance this year.

All of these changes only apply at a state level, except for the SCHIP extension. This is by no means, a complete list, but is some new things interesting about what the new year brought to insurance. These are not listed in order of significance.

* Florida drivers must now carry PIP insurance on their auto insurance policy. PIP was required previously, but lapsed, and now is required again. [sun-sentinel.com]

* Bush signed bill to extend SCHIP until March 2009, although it was not expanded, it was good news for many that needed it. [reuters.com]

* Massachusetts fines go up for not having health insurance. Fines could total as much as $912 for individuals and $1,824 for couples by the end of 2008. [businessweek.com]

* Connecticut insurance department will start to post information on it's web site how insurers treat their customers and the fines insurers pay for violating state law. [newsday.com]

* The hurricane law in Connecticut that bans insurers from refusing coastal customers who lack permanent storm shutters, now includes that insurers must offer premium discounts, or credits to homeowners who install permanent storm shutters or impact-resistant glass. [theday.com]

* In Oregon, health insurance plans that cover prescription drugs must now cover birth control. [oregonlive.com]

* Health insurance rate regulation returns to Hawaii. The law intends to prohibit health insurance rates that are excessive. [starbulletin.com]

Happy New Year!