Live Insurance News

War risk insurance extension granted by Obama

January 1, 2014December 30, 2013 G. Turner

This coverage availability has been extended throughout 2014 for airlines by the president. The American government coverage that provides airlines with guarantees against perils related to war and terrorism, war risk insurance, has been extended until the end of 2014 by President Obama. This coverage has been extended for four different carriers that would have lost their protection at the end of 2013. President Barack Obama has granted an extension for the airline war risk insurance for as long as one more year. He made this decision while he was…

Terrorism insurance program overdependence not recommended by A.M. Best

October 15, 2013January 7, 2014 Julie Campbell

The rating agency has said that this tendency could lead to a considerable problem in the United States. A.M. Best, the large rating agency, has provided insurers with a bold recommendation, which is not to build an overreliance on whether or not there is a reauthorization of the terrorism insurance program in the United States. The future of that program remains up in the air and A.M. Best feels that it is wiser not to completely rely on it. The agency feels that insurers should not count on the Terrorism…

Insurance industry remembers September 11

September 11, 2013September 10, 2013 Julie Campbell

The terrorist attacks that happened twelve years ago will never be forgotten by individuals or businesses. The horrific and devastating attacks on the United States on September 11, 2001 were far from local events, having caused a ripple felt around the world and that are remembered today, on their anniversary, by everyone from individuals to governments, and to the insurance industry. The terrorist attacks took their toll on our lives, our sense of safety and security, and even on our financial wellbeing. The human impact was, by far, the most…

Terror insurance coverage concerns felt by New York property owners

May 23, 2013May 25, 2013 G. Turner

The commercial real estate market in NYC is concerned about the upcoming expiry of the TRIA. New York City’s commercial real estate market is now facing worries about a threat that could shake its stability, when federal terror insurance reaches its expiry date in 2014. The Terrorism Risk Insurance Act was enacted in 2002 and uses taxpayer dollars to cover these disasters. The act was put into place the year following 9/11 and uses American taxpayer funds to provide protection for private insurers so that they can offer terror insurance…

This week in insurance news video round up

May 3, 2013May 25, 2013 S.Vagus

Below please find our notes and links about video featured insurance news… Health insurance shows 84 million Americans uninsured or underinsured for a span of 2012 According to research conducted by the Commonwealth Fund, there were 84 million people who either went uninsured or underinsured for a span of time in 2012. The reason has to do with a provision of the Affordable Care Act that allows young adults to remain on the health insurance plans of their parents for longer periods of time. In the case of underinsurance, research…