Live Insurance News

Flood insurance enters the limelight as hurricane season begins

June 17, 2014June 15, 2014 Marc

Hurricane season is bringing more attention to flood protection The 2014 Atlantic hurricane season has started, and weather forecasters are predicting that this season may be quite active, but the storms emerging during the season may be modest due to the effects of El Nino. There is no certain way to tell whether or not the hurricane season will be free of any powerful storms, as 2012’s Hurricane Sandy was quite unexpected itself. The impact of an unexpected storm can be devastating, which is why there is a growing interest…

More companies aim to participate in Michigan health insurance exchange

June 13, 2014June 11, 2014 Marc

18 insurance companies are seeking entry into the state’s insurance exchange this year Michigan residents may have more options when it comes to purchasing health insurance coverage through the state’s insurance exchange this year. The Michigan Department of Insurance and Financial Services has announced that it has received policy proposals from 18 of the state’s insurance companies that are interested in participating in the exchange. All but two of these companies have filed proposals for individual policies, with 11 offering small group policies designed specifically for businesses. Regulators are currently…

Terrorism insurance act may receive an extension in the US

June 10, 2014June 10, 2014 Marc

Senate panel unanimously approves extension of Terrorism Risk Insurance Act A U.S. Senate panel has approved the extension of the federal terrorism insurance initiative. The Terrorism Risk Insurance Act, which was signed into law in 2002, created a backstop for insurance claims relating to acts of terrorism. This initiative is designed to mitigate the risks associated with terrorism occurring within the United States and provides coverage for businesses and any entity that is deemed eligible. A select few insurance companies are allowed to participate in the initiative by providing products…

Health insurance exchange for small businesses may be delayed in New Hampshire

June 5, 2014June 3, 2014 Marc

Insurance Commissioner calls for a delay small business insurance marketplace New Hampshire Insurance Commissioner Roger Sevingy has recommended that the state wait to implement a health insurance exchange for small businesses. Provisions of the Affordable Care Act called for the creation of insurance exchanges for consumers and exchanges for small businesses in order to expand the availability of insurance coverage. The federal government has, however, opted to delay the enactment of provisions that focus on insurance coverage and small business in order to allow these businesses time to prepare for…

New regulations target auto insurance laws in North Carolina

June 3, 2014June 4, 2014 Marc

Regulations could benefit drivers in North Carolina New regulations may have a major impact on drivers throughout North Carolina, if they are approved by the state’s lawmakers. These regulations would change the state’s auto insurance laws, which were created in 1957 and have seen little reform over the years. The regulations have managed to win strong support from the state’s insurance companies, many of whom are eager to see changes to insurance laws in order to better manage modern trends and risks in the state’s market. Insurers show support for…