Cyber insurance is becoming more important throughout the world

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Report highlights the growing demand for cyber protection IDC Financial Insights has released a new report highlighting cyber insurance as an excellent opportunity for insurers due to the growing demand for this form of coverage. Cyber insurance is becoming more important as companies become more reliant on digital technology. These companies face serious risks that could result in severe financial losses if they do not adequately protect the sensitive information of consumers. Demand for cyber protection is on the rise and insurers may find promising opportunities in this emerging market.…

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21 million people could lose their health insurance coverage under Trump plan

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Analysis shows repealing the Affordable Care Act could have dire consequences The Committee for a Responsible Federal Budget has released an analysis of the health care plan proposed by presidential hopeful Donald Trump. The analysis suggests that Trump’s plan could result in approximately 21 million people losing their health insurance coverage. It may also cost some $270 billion over 10 years, if it was implemented. Another analysis from the Congressional Budget Office suggests that as many as 22 million people could lose their health insurance coverage if Trump’s plan is…

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Lawmakers work to bring reform to the National Flood Insurance Program

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Lawmakers are fighting to change and improve NFIP Federal lawmakers are again attempting to introduce reforms to the country’s troubled National Flood Insurance Program (NFIP). Earlier this month, the House Financial Services Committee granted approval for the Flood Insurance Market Parity and Modernization Act. The legislation has won support from several lawmakers and is designed to mitigate the cost of flood protection. The legislation will also ensure that those seeking a mortgage for their property are treated the same when purchasing flood policies from the private market as they are…

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Growing number of clinics could affect health insurance costs in the US

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Health clinics are becoming more common in the US The number of retail health clinics in the United States is growing and this may be having an effect on the overall spending on medical services throughout the country. A new study published in Health Affairs suggests that the belief that low-cost clinics would lead to less health care spending may be inaccurate. These clinics are designed for those without health insurance coverage and those that are underinsured, existing as a way for these people to acquire the medical care that…

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Government seeks information from insurers regarding terrorism insurance program

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Federal government is requesting that insurers submit data concerning the Terrorism Risk Insurance Program The U.S. federal government is requesting information from insurers participating in the Terrorism Risk Insurance Program. The insurance program was established in the wake of the 9/11 terrorist attacks in 2001 and was reauthorized in 2015 through 2020. The program is meant to serve as a financial backstop for insurers, allowing them to effectively mitigate the risks associated with acts of terrorism. While such acts are quite rare in the United States, insurers still face certain…

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Donald Trump introduces plan to change health insurance in the US

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Trump unveils more information concerning his health care plan As the presidential campaign steams ahead in the United States, presidential hopeful Donald Trump has released new information about his health care plan. Trump has been an outspoken critic of the Affordable Care Act, saying that if he becomes president he will ensure that the health care reform law is fully repealed. The law has made health insurance coverage more accessible to millions of people in the United States, but critics of the Affordable Care Act claim that it is both…

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Google is pulling out of the insurance industry, for now

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Google will be closing down its insurance comparison website within a month Google has announced that it will be shutting down its Google Compare insurance comparison site. This may be a reflection of Google’s intention of selling financial products, such as auto insurance coverage. Google Compare has been operating in the United Kingdom for three years and the company had planned to bring the service to the United States in the near future. The site allowed users to compare prices on auto insurance coverage, but the site was never to…

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