Live Insurance News

Crop insurance program in Rwanda uses satellites

May 14, 2013May 25, 2013 G. Turner

Weather technology will be helping to support the coverage that will be provided through the government. The government of Rwanda has now introduced a new crop insurance program for growers that is supported by satellite weather stations that will be keeping tabs on the precise impact that heavy rains and drought have on farming efforts. The coverage is geared toward protecting and learning from small sized farms within this Central African country. The country’s farmers have been plagued with devastating natural events such as the current drought in the south…

Health insurance program in Oklahoma set to expire

May 13, 2013May 25, 2013 Marc

Oklahoma health insurance program waiver denied by federal government Nearly 5,000 Oklahoma employers are to be notified that the state’s Insure Oklahoma program will expire at the end of this year. State officials had reached out to the federal government in order to receive a waiver for the program, but the federal government has denied this request. According to the Department of Health and Human Services, the waiver was rejected due to the new health insurance opportunities that would be created through the Affordable Care Act next year. Small businesses…

Flood insurance rates to spike this year

May 13, 2013May 25, 2013 Logan B.

Flood homeowners Insurance Rates raising homes

Flood insurance rates are set to rise throughout the US Flood insurance throughout the U.S. is expected to become costlier as legislation passed last year concerning the National Flood Insurance Program comes to fruition. The legislation was designed to address the several, severe financial problems that the flood insurance program has faced over the past several years. The program first began experiencing these troubles in the wake of Hurricane Katrina. The storm dealt such a powerful blow that the federal program has not yet recovered. Ensuing years of floods throughout…

Auto insurance fraud legislative package gets New York Senate approval

May 13, 2013May 25, 2013 Julie Campbell

Three bills that are geared toward reducing the rate of scams on the system are now moving forward. The New York State Senate has just given its approval to three bills that have been designed to help to tackle the problem of auto insurance fraud by raising the penalties against those who take part in these behaviors, and by providing insurers with greater flexibility for preventing criminals from being able to obtain policies so that they can continue to run their scams. The package for three bills has now been…

Homeowners insurance rate challenge partially lost by Mercury

May 13, 2013May 25, 2013 H. Cutner

The insurer has failed to win a segment of its ongoing legal challenge in California. Mercury Insurance Group, the massive company serving California, has just lost a segment of its ongoing homeowners insurance rate legal challenge that it made against an order from state regulators. The petition to delay the decrease in the insurer’s rates which had been ordered upon them was rejected. The insurer lost their petition for the homeowners insurance rate decrease delay in the Sacramento Superior Court. The result will be that approximately 270,000 residents of California…