New insurance program pilot being tested on WV livestock farms

farm insurance program news

The goal of this new strategy is to be able to offer producers in the state a way to mitigate financial risk. A group of West Virginia livestock producers are now taking part in the pilot of an insurance program that has been designed to help them to be able to mitigate certain financial risks that they have been facing. The program is based on an effort to broaden the information available to help when making payments. The Rainfall Index Pasture, Rangeland, Forage insurance program bases its payments on a…

Read More

West Virginia seeks to open flood insurance to the private market

flood insurance

States begin taking matters into their own hands when it comes to flood protection As U.S. federal lawmakers continue to work to find a solution to the problems facing the National Flood Insurance Program, states are beginning to take steps to address these issues on their own. Typically, homeowners can only find the flood protection they need through the federal program. The program, however, is crippled by debt that has made it nearly impossible for the program to provide coverage adequately. Because federal lawmakers have been slow to resolve the…

Read More

Auto liability insurance minimum is the focus in West Virginia

car insurance auto claims

The state is mulling over a potential increase in the lowest possible amount of coverage. In West Virginia, approximately 15 percent of vehicle owners are carriers of the minimum allowable amount of auto liability insurance, said the commissioner in the state when speaking to a legislative interim committee. Mike Riley spoke to the committee on Tuesday, using the results of a survey of the largest carriers in the state. Commissioner Mike Riley spoke based on a survey that was conducted on the four largest auto liability insurance carriers in West…

Read More

West Virginia weighs options on health insurance exchange

West Virginia Health Insurance

West Virginia may partner with federal government West Virginia is making strides in building a health insurance exchange program, but the state’s plans have hit a snag in the form of finances. The state, like others in the country, is required to host a health insurance exchange by the Affordable Care Act. Though some state officials have shown opposition to the federal health care law, West Virginia remains on track to comply with the law by 2014. The state will not run the exchange on its own, however, as state…

Read More

West Virginia legislators pass new law that gives consumers access to information on their insurance policies

The West Virginia House of Delegates has granted approval of a new legislation that would require insurance companies to disclose information regarding policies to consumers filing claims. The bill received support from both parties and passed with a 64-33 vote on Monday. The law aims to provide consumers with more understanding of how the insurance industry works and what they can expect to deal with when filing claims. It will also help consumers understand the limitations of their own policies and discover whether or not an insurer can deny a…

Read More