Live Insurance News

National Flood Insurance Program may not withstand assault from Hurricane Sandy

November 14, 2012November 13, 2012 S.Vagus

National Flood Insurance Program braces for massive impact from claims Hurricane Sandy has brought many issues to light in the U.S., especially those concerning climate change and the country’s energy grid. Amidst the turmoil the storm has caused, federal officials have begun evaluating ways to improve the country’s defenses against natural disasters. At its peak, Hurricane Sandy was a Category 2 storm, but dwindles to a Category 1 and tropical storm status by the time it reached the northeastern states. Despite the storm’s weakening presence, it still managed to produce…

Flood insurance has new risks ahead

November 14, 2012November 13, 2012 H. Cutner

This federal program is already on shaky legs, but is facing even greater strains. The National Flood Insurance Program has never recovered from falling into $18 billion of debt after Hurricane Katrina in 2005, and now it is headed back toward a position where its funds are running slim as the massive reconstruction effort after Sandy begin. Estimates at this point are saying that the superstorm could lead to the second highest bill for the program. Federal flood insurance claims will likely be second only to Katrina, as 115,000 have…

Health insurance Medicaid expansion in South Dakota still undecided

November 14, 2012April 30, 2013

Dennis Daugaard on South Dakota Health Insurance Exchange

Providers of healthcare services in the state are urging lawmakers to broaden the program. With the election behind us, the healthcare reforms are now certain to take place, and states are now facing a tight deadline to make their health insurance system decisions, including whether or not they will be establishing their own exchanges, and if they will take part in the optional Medicaid expansions. At the moment, hospitals and doctors in South Dakota are asking the state to widen its Medicaid. They have been urging the state government to…

Health insurance law reforms still being resisted by Texas Republican leaders

November 13, 2012April 30, 2013

Texas Governor Rick Perry health insurance

The GOP in the Lone Star State have no intention of easily complying with the healthcare reforms. Even though the Affordable Care Act is now safe from appeal, the Republicans in Texas have made it quite clear that the new laws for health insurance will not budge on the decisions that they made prior to the election. Some of the biggest issues in question involve the online marketplace and the expansion of Medicaid. According to the Governor of Texas, Rick Perry, “Nothing changes from our perspective.” He doesn’t feel that…

Flood insurance downfalls revealed following superstorms on the east coast

November 13, 2012November 13, 2012 Julie Campbell

Flood Insurance Hurricane Sandy Jersey Shore

The damage, destruction, and devastation from Sandy revealed many flaws in the national program. The catastrophe and chaos that has been left behind on the Jersey Shore and other areas on the east coast is now being called a direct reflection of some of the many failings of the current flood insurance program and is drawing attention to issues that may be on the rise in the near and long term future due to climate change. The storm surge from the most recent superstorm came inland as far as half…