Unemployment insurance expires, leaving many without financial support

Federal insurance comes to an end Unemployment insurance has become a very complicated situation in the U.S. and one that is surrounded by controversy. The federal government’s unemployment insurance program has officially expired, leaving approximately 1.3 million people without benefits. Many of these people had relied on their benefits for financial stability as it was their only source of income. With a still turbulent economy, these people have been finding it difficult, if not impossible, to find new jobs. Federal lawmakers have been working to address the issues, feeling the…

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Summary: Health reform and government shutdown

Health Care Reform

Government shutdown and its impact on health insurance and reform For the first time in 17 years, the U.S. federal government has been shut down. This comes as federal lawmakers failed to reach a compromise on the controversial Affordable Care Act, often called Obamacare. Opponents of the Affordable Care Act have sought to pull funds from the law, prohibiting its implementation. Lawmakers have also sought to delay the enactment of the law for a whole year, hoping to see health care reform take effect in 2015 rather than 2014. Supporters…

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As Hurricane Season Begins, Smartersafer.org urges Congress to Pass Mitigation

insurance news

MEASURES TO PREVENT HIGH COST OF BEING UNPREPARED FOR NATURAL DISASTERS WASHINGTON ‒ With the 2013 hurricane season getting underway today, SmarterSafer.org is urging Congress to begin work on a legislative strategy to promote mitigation incentives that will minimize the financial impact disasters like Sandy. “Now that hurricane season is here, we should be reminded of the terrible cost of being unprepared for severe storms,” said SmarterSafer.org.  “It’s long past time for Congress to pursue a national mitigation strategy.  These kinds of measures will help save taxpayers billions of dollars…

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Insurance News: SmarterSafer.org Urges Congress to Oppose Yet Another Beach House Bailout

Florida Insurance News - Citizens insurance

Flood Insurance News… PRESS RELEASE: (Washington, DC) — SmarterSafer.org today said they oppose reintroduction of legislation by Rep. Albio Sires (D-NJ) that would create a national catastrophe fund because it would put taxpayers on the hook for billions of dollars in losses, encourage risky development in environmentally sensitive areas, and do nothing to protect people and property in harm’s way. “A federal backstop for disaster insurance replaces private-sector insurance with the American taxpayer,” said SmarterSafer.org. “It is a ‘Beach House Bailout’ that would displace private property and casualty insurance with…

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India seeks alternatives to European maritime insurers as EU sanctions on Iran loom

As the European Union prepares to impose sanctions on Iran and breaks its trade agreement with the nation, the maritime insurance industry is facing a bleak and complicated future. Insurers will not be the only ones to suffer from the move, however, as countries that depend on oil from the Middle East will also feel the impact of the action. Even countries that do not rely on Iranian oil are claiming that the EU’s actions will have a major effect on their economies. Such is the case in India, where…

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Unemployment insurance for 3 million in jeopardy as Congress leaves for vacation

More than 3 million people throughout the U.S. could lose their unemployment insurance next year if Congress cannot breach an impasse that has stalled the legislative process. Federal lawmakers are currently deliberating on how to extend the federal insurance benefits program given the rising costs seen within the system. The 2008 recession has had drastic effects on the nation’s workforce, pushing many out of jobs they have had for decades. Unemployment reached record highs throughout the nation, putting immense financial strain on the unemployment insurance system. Legislators have yet to…

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