FEMA to seek settlements in flood insurance cases

coastal flood property insurance north carolina

FEMA is working to settle several lawsuits regarding flood protection and Hurricane Sandy The Federal Emergency Management Agency (FEMA) is currently working to settle lawsuits that have been issued by victims of Hurricane Sandy. The federal agency manages the National Flood Insurance Program, which came under fire in the wake of Hurricane Sandy. Many of those affected by the disaster saw their insurance claims rejected over technicalities and potentially falsified engineering reports. There have also been complaints that claims were underpaid. These issues have prevented many people from recovering following…

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States begin taking action on flood insurance

flood insurance news

National Flood Insurance Program is now $20 billion in debt The U.S. National Flood Insurance Program is $20 billion in debt and the provisions of a law that would seek to resolve this issue have been delayed for four years due to concerns regarding its financial impact on consumers. While premiums for the flood insurance coverage offered by the program have been increasing, these increases have not been enough to make the program financially stable. Because this represents a serious risk for homeowners, some states are beginning to take matters…

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Flood insurance generates more controversy in the US

West virginia Flood Insurance Coverage

FEMA may push for more disclosure from flood insurance providers The Federal Emergency Management Agency (FEMA) will be examining whether or not it has the ability to force insurance companies to disclose information regarding the potential manipulation of flood insurance claims related to 2012’s Hurricane Sandy.  The powerful storm battered the eastern United States, causing some $68 billion in damage, making it the second costliest hurricane in the country’s history. In the wake of the storm, many insurers have come under fire because of delayed claims payments and rejecting claims.…

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New health insurance company expanding into New Jersey

new jersey health insurance

Oscar Health Insurance will offer coverage through the state’s insurance exchange for the next open enrollment period New Jersey residents that will be shopping for health insurance through the state’s exchange will have more options beginning on November 15 this year. Oscar Health Insurance, a startup that was launched last year in New York, has announced that it is expanding to New Jersey. The insurer covers some 16,000 people in New York and has won praise from its customers. The insurer will be participating in New Jersey’s insurance exchange when…

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Flood Insurance and Catastrophe

flood insurance bill

Flood insurance is not something that many homeowners have, but they don’t necessarily know that they don’t have it. This is because flood protection is not a part of a conventional homeowners insurance policy. Most homeowners have to have insurance protection due to the provisions of their mortgage, but few people take the time to understand their policy and what protections it offers. As such, many people are often left at the mercy of natural disasters. In the United States, flood insurance is within the jurisdiction of the federal government.…

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Health insurance legislation sparks controversy in New Jersey

new jersey health insurance

Legislation aims to change the way insurance arrangements for employers work Controversial legislation in New Jersey has managed to speed its way through the state’s Legislature, but has encountered an legislative hurdle that may be difficult to overcome. The legislation, called A3421, is designed to create incentives for businesses to band together in order to offer health insurance policies through self-funded Multiple Employer Welfare Arrangements. Critics of the legislation suggest that this is a way for employers to charge more for the coverage they sponsor for older workers. Companies in…

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Health care providers begin promoting health insurance coverage

health insurance expansion

Some health care providers are seeing major benefits from the expansion of insurance coverage Health care providers are beginning to see major payoffs from the expansion of health insurance coverage throughout the U.S. thanks to the Affordable Care Act. The federal law has made insurance coverage more accessible to a wider range of consumers and has also made coverage mandatory. The growing number of people with insurance coverage means that more people are seeking out medical care. For some providers, this is beginning to pay off handsomely. Some hospitals are…

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