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Doubt may exist for some insurance providers

Posted On Wed, December 9, 2009

A recent report indicates companies that offer different insurance products may be facing an uncertain future as the government considers different pieces of legislation.

PricewaterhouseCoopers, which published the findings, indicated that potential health insurance reforms along with the possibility of additional federal oversight could make things more difficult for insurance providers in the coming years.

Other factors that could change insurance in the future include consolidation of the industry as larger insurers buy out smaller providers.

"Insurers are in the business of managing risk and measuring probability. They don't like uncertainty, yet they are facing two massive reform initiatives, the outcomes of which are unknown but could alter their destiny," Bill Chrnelich, a partner with PricewaterhouseCoopers' insurance sector, said.

Congress is still in the process of considering health insurance reform. Though the House version of healthcare passed earlier this year, the Senate is still considering its own proposed changes to the system. According to a recent report from the Dow Jones Newswire, Democrats in the Senate are working to try and get a vote on healthcare reform before Christmas.

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