A fight amongst lobbying groups could put a hold on Congress’ decision regarding the ailing National Flood Insurance Program. The program, which provides millions with access to affordable flood insurance, has been wracked with crippling debt for several years and has finally run out of money and reached a point where it could no longer be sustained. Last month, lawmakers allotted more money to the program in an effort to ensure its survival for another five years, but the plan failed when confronted by the program’s enormous debt. Lawmakers were…
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Post 9/11 insurance industry is vastly different, says report
This weekend marks the tenth anniversary of the September 11 attacks which brought down New York City’s World Trade Center. Since the attack, the political landscape has changed dramatically, a shift that has been mimicked throughout society as terrorism more people became aware of terrorism. Many things changed in the wake of 9/11, and while many of these changes resided within the boundaries of the nation, the entirety of the world’s insurance industry underwent a drastic shift. The Insurance Information Institute (I.I.I) has been studying the changes in the worldwide…
Read MoreFederal measure that makes affordable health care available to those with high-risk conditions
A new measure from the federal government that seeks to bolster the availability of health insurance for those with existing medical insurance will go into effect today. The measure will reduce insurance premiums by as much as 40% for what lawmakers are referring to as “special, high-risk” plans. This will prove to be a particular benefit to those with pre-existing conditions who were originally unable to afford the insurance coverage they desperately need. The measure is part of the overarching health care reform, the Affordable Care Act. Originally, this particular…
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