Insurance industry prepared to handle hurricane season

S.Vagus
insurance news - atlantic hurricane season

Insurance industry will be capable of handling threats of the 2013 hurricane season There are many concerns swirling around the U.S. concerning this year’s hurricane season. Many of these concerns relate to the impact that 2012’s Hurricane Sandy had on the East Coast. This single event caused more than $75 billion in damages in the U.S. and elsewhere and is considered the second costliest hurricane the country has ever seen. The National Oceanic and Atmospheric Administration recently announced that it predicts as many as 6 major hurricanes to form in…

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Health insurance mismanagement sparks controversy in Nebraska

Logan B.
Nebraska Health Insurance

Nebraska health insurance program found to be poorly managed Controversy has erupted in Nebraska as state auditor Mike Foley has discovered that millions of dollars in Medicaid-related health insurance payments have been mismanaged by Nebraska officials. The discovery could cause significant problems for the officials that would be implicated in mismanaging these funds, but could also mean trouble for consumers that are relying on the Medicaid program to receive the health insurance coverage that they need. These consumers could be put under financial strain as the issue is expected to…

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Life insurance law in Vermont drives insurers to pay

Julie Campbell
Life insurance

Companies in the state were not adequately seeking beneficiaries are now paying out. Auditors in Vermont have determined that many of the life insurance companies in the state were not being adequately aggressive to seek out the beneficiaries of policyholders that had died, and steps have now been taken to remedy that trend. This has meant that many beneficiaries were not receiving the payments that were due to them. A number of large life insurance companies in Vermont, such as Lincoln Financial, Prudential, and AIG, have each reached settlements with…

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Health insurance through state exchanges still not a firm deal for many Americans

H. Cutner
health insurance confusion

Two out of three people still haven’t decided if they will insure themselves under the new law. Even though it is full steam ahead for the Affordable Care Act, many Americans still don’t entirely understand what they need to do in order to comply with it or they simply have not yet decided whether or not they will choose to purchase the health insurance that is needed under the so-called individual mandate. A recent study has indicated that almost two thirds of Americans has not yet made its decision. The…

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Liability insurance demand is increasing in India

G. Turner

Companies are experiencing exponential increases in the number of lawsuits and need protection. In India, businesses are experiencing an increase in the number of lawsuits that are filed against them, at a rate of 30 to 40 percent per year, which has caused companies to flock to their insurers to purchase liability insurance. This has boosted demand in that sector at a staggering rate, with an estimated growth of 10 to 20 percent annually. Among the more popular forms of liability insurance that businesses are purchasing include credit, director and…

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