Cavalcade of Risk, No. 142 - Meet the Experts

This week, Insurance Regulatory Law is proud to host the 142nd edition of the Cavalcade of Risk. The Cavalcade of Risk is a biweekly rotating collection of articles and links (also known as a "blog carnival") from insurance and other-risk-related sources that provides some great information and insight about risks and risk management.

Additionally, hosting the Cavalcade of Risk gives Insurance Regulatory Law a great opportunity to introduce some of the blogosphere's foremost authorities in the risk and risk management field. So let's meet the experts...

Hank Stern introduces us to Home Value Protection, a type of insurance that protects against real estate market volatility, in his article Insuring Value at InsureBlog. Hank discusses the little-considered risk of decreasing home value and this new insurance product that purports to mitigate it:

Sometimes, insurance policies fall outside the obvious categories of life/health and property/casualty...

And so it is with Home Value Protection...

To read more, click here.

Tom Drake brings us another type of insurance coverage outside of the obvious categories, asking Have You Considered Wedding Insurance? at the Canadian Finance Blog.

Nobody needs to remind you that your wedding may very well end up costing more than a new Mercedes and that’s a lot of money to dish out if you’re less than sure that when that big day arrives you’re going to end up with a table full of gifts and memories that last a lifetime.

Luckily, the insurance industry has you covered.

Before you say "I do," find out more here.

Nancy Germond explains how An Expanded ADA Means New Small-Business Responsibilities in her article at AllBusiness.com. She points out that amendments to the ADA in 2008 significantly expanded the definition of "disability" such that ADA protection is focused on conditions "that substantially limit a life activity" as follows:

Experts agree that the impact of the Amendments means that human resource personnel should not consider if the employee is disabled, but instead focus on “How can we best accommodate the person?” According to the EEOC, "The question of whether an individual's impairment is a disability under the ADA should not demand extensive analysis. The definition of disability shall be construed in favor of broad coverage of individuals, to the maximum extent permitted by the terms of the ADA.”

For more of her excellent analysis, click here.

Jason Shafrin evaluates the risk of lost or stolen personal health data, suggesting it may be higher than we might think, and asking Is your personal health data secure? at the Healthcare Economist.

In 2010, providers alone spent more than $88.6 billion on health IT initiatives in response to the US government’s “meaningful use” incentive program to drive widespread adoption of electronic health records (EHRs). Is this data secure?

For many individuals, the answer is no.

To find out more, click here.

Louise Norris runs down some Conflicting Data Regarding Medical Costs at the Colorado Health Insurance Insider. She also gives her take on the ACA's medical loss ratio requirements:

I would say that the MLR rules are a very effective tool for preventing insurance carriers from raising rates without an increase in medical expenses. Ideally, I’d like to see MLR-style rules that cap profits and administrative costs in the rest of the healthcare industry as well, rather than just focusing on health insurance carriers.

To read more, click here.

Dr. Jaan Sidorov goes outside his clinical comfort zone and delves into the concepts of "actuarial value" and "essential health benefit" under the Patient Protection and Affordable Care Act in his article The Institute of Medicine and the Inconvenient Truth of the Real Affordability of the "Affordable Care Act" at the Disease Management Care Blog.

This is significant because the key underlying assumption of the ACA was that forcing everyone in the risk pool (with the Constitutionally suspect "play or pay" provision) with insurance rich in wellness, prevention and services like rehab, mental health and pediatric oral care would, by itself, drive down health costs.

The smart folks over at the Institute of Medicine respectfully disagree.

For more information, click here.

Jon Coppelman discusses the risks of age discrimination, and gives us some good words to the wise in his article Older Workers: How Old is Too Old? at Workers' Comp Insider.

The Wealthy Canadian cringes at the thought of buying life insurance – find out why, as well as how he learned to stop worrying and love Buying Life Insurance.

Russell Hutchinson gives us eight reasons Why Life Insurance is So Hard for Consumers to Buy at the Chatswood Consulting Moneyblog.

Crystal Stemberger lays out some informative points to help you determine if whole life insurance is right for you in her article Should You Get Whole Life Insurance at her blog Stupid Cents.

Free Money Finance continues its ongoing financial strategy series by Planning for Longevity and Health Care.

Finally, My Personal Finance Journey asks the question: Professional Liability Insurance - Is it Something You Really Need?

Check out the next edition of the Cavalcade of Risk hosted by Julie Ferguson at Workers Comp Insider.