Health Care Reform Update: New waiver proposal for industries and citizens

The Department of Health and Human Services has proposed several new waiver rules that will give states more control of their own health care systems and regulations. Backed by the Obama administration, the waivers will provide states with more flexibility. If the proposal is successful, states will have more freedom in creating their own systems that will support federally mandates health insurance exchanges. Additional legislation is being proposed to make the waivers available by 2014 instead of 2017. States may apply for “Innovation Waivers” that will allow them to come…

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CEA campaign to bring awareness to California residents who don’t have earthquake insurance

An insurance agent marketing program was launched by the California Earthquake Authority with a goal of selling 15,000 policies by August 1 of this year. The Marketing Value Program or MVP is set to improve the relationships between the insuring agents and the CEA such that residents from California will participate in the said program. Since 2008, the earthquake that happened in Christchurch, New Zealand is considered as the most expensive global insurance wherein estimated losses that are insured range from $3 to $12 billion. The same earthquake magnitude is…

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Major flood risk areas in U.S.

U.S. and state officials from the Midwest are making preparations for possible floods that might happen during the spring along identified areas particularly those that are near the Red Rive and Mississippi River. These are the areas that are of the greatest risks for encountering the floods. The areas that are affected during the floods are among the top crop producers of the country. The states of Illinois and Iowa are leading exporters of corn and soybeans, while Minnesota and North Dakota are top producers of spring wheat and durum.…

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Debate over illegal workers covered for “while at work” injuries

Illegal immigrants have once again moved to the forefront of public debate. Now, the various law makers, and state governing boards, are trying to come to a “middle of the road” agreement. What prompted all of this? It seems that a few states have taken a stand against compensating illegal immigrants who are injured at their job. Which prompts another question; how did these illegal immigrants get jobs? The best-guess numbers say that five percent of the U.S. workforce is (illegal) immigrants.  The estimate is there are around eight million…

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International insurance business reports good outlook

Ageas, a Belgium based insurance company, is predicting financial gains in 2011 after experience severe declines in profits in the previous year. The company cites the sale of its non-core businesses and clever investments in growing sectors as key contributors to improved financial performance this year. Ageas operates as AG insurance in Belgium and provides insurance to Tesco, the prominent supermarket chain in Britain. The insurer reports that earnings on life insurance fell by 9% in 2010. This is due, in part, by a tax benefit established in 2009. Non-life…

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Queensland flood insurance investigation reveals that nature wasn’t the only culprit

According to experts that were hired by insurance companies to do a further check into the damages that occured during the Queensland floods, found that the Wivenhoe Dam  was a contributing factor.   The owner of NRMA and CGU, Insurance Australia Group reported in detail how the water that was released from Wivenhoe including the heavy and continuous rainfall contributed to the flooding of the homes and businesses in the said Australia state. However, it was not reported how much of the damage can be blamed on Wivenhoe during the flood that…

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