Homeowners insurance tax could come to an end in Florida

Nordstrom
Florida Homeowners Insurance

Citizens Property Insurance is considering putting an end to its storm tax Florida’s Citizens Property Insurance is considering putting an end to its storm tax, which was first introduced in 2007 as a way for the organization to recover from devastating financial losses. The tax imposed a 1% charge on all homeowners insurance policies that the organization was responsible for. The charge has been somewhat unpopular among homeowners, especially as Citizens continued to raise premiums on their coverage somewhat aggressively. Now, the organization may put an end to the tax…

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700,000 people in the US lose their health insurance coverage

S.Vagus
health insurance confusion

Centers for Medicare and Medicaid Services discloses that 700,00 people have lost their insurance coverage since May of this year Some 700,000 people in the U.S. have lost their health insurance coverage since May of this year, according to testimony from Marylyn Tavenner, Administrator of the Centers of Medicare and Medicaid Services. This information was disclosed during a House Oversight and Government Reform Committee hearing. During the hearing, the Centers for Medicare and Medicaid services was criticized for its lack of transparency and its apparent inability to manage data security…

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Same sex insurance stopping amendment vetoed by Starkville mayor

Julie Campbell
same sex couple insurance plans health care reform

Parker Wiseman has ensured that city employees would be able to purchase health plans for domestic partners. The mayor of Starkville, Mississippi, Parker Wiseman, has now vetoed on a board amendment that had withdrawn part of a same sex insurance policy that would have given city employees the ability to purchase health plans for domestic partners. The original insurance news had been that the city would no longer cover same sex domestic partners. Immediately after the decision of the board, which was a 4 to 2 vote, to revoke the…

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Insurance marketing warning issued by state of Iowa

H. Cutner
Insurance News about Marketing

An official agency has now released a statement cautioning consumers of potentially deceptive ads. The Iowa Insurance Division has now released a warning to the residents of the state, cautioning them that certain insurance marketing and ads for annuities may have potentially deceptive messages. The agency has been watching a growing number of marketers that work with the industry using misleading ads. The insurance marketing strategies used by those firms are becoming misleading on an increasing basis, said the agency in a bulletin, in the attempt to try to boost…

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Lawmakers may extend federal terrorism insurance initiative

Marc
terrorism insurance law

U.S. lawmakers are expected to extend the Terrorism Risk Insurance Act Federal lawmakers in the U.S. claim that the country’s terrorism insurance backstop initiative will be renewed. The Terrorism Risk Insurance Act was enacted in 2002, created in the wake of the 9/11 attacks in the U.S. The initiative is meant to provide insurance companies with a financial backstop for claims that are related to acts of terrorism. The law was also meant to create a transparent system through which information concerning compensation for insured losses was shared with the…

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