New auto insurance requirements could be imposed on ride-share services

car auto insurance industry ride share

Uber and Lyft could have to comply with new auto insurance requirements, pending legislation New auto insurance requirements may put some pressure on ride-share service, such as Uber and Lyft. The Senate Banking and Insurance Committee has supported new legislation that would introduce new requirements on companies that use mobile applications to connect drivers with passengers. These services have become quite popular in large cities and serve as an alternative to taxis. Over the past year, these services have been the subject of concern because of the auto insurance coverage…

Read More

Insurance industry wins a victory with the renewal of the Terrorism Risk Insurance Act

Insurance industry news Lawsuit

House and Senate vote to renew the Terrorism Risk Insurance Act Both the U.S. House of Representatives and Senate have approved the renewal of the Terrorism Risk Insurance Act. The legislation’s renewal was a fast-tracked through the House, making its way to the Senate, where it received majority support. The legislation is now awaiting President Barack Obama’s signature, which is expected to be given within the coming days. The President’s signature will enact the legislation, reinstituting the federal backstop that the insurance industry has been relying on. Insurers will again…

Read More

Senator issues lawsuit concerning health insurance requirements

health insurance lawsuit

Lawsuit targets Affordable Care Act U.S. Senator Ron Johnson has filed a lawsuit against the Obama Administration concerning the way the Affordable Care Act is being applied to Congress. The lawsuit is part of a larger political initiative that aims to shed light on the problems surrounding the health care law. Senator Johnson is challenging the provision that stipulates that government officials must purchase health insurance coverage through exchanges rather than from the private market. Exchanges remain a problematic subject Health insurance exchanges have become relatively popular but somewhat notorious…

Read More

Crop insurance receives more legislative attention in the US

Corn Belt - GMO Crop Insurance program

Legislators again consider crop insurance reforms Crop insurance in the U.S. is often criticized as being a major financial drain on the federal government. This type of insurance coverage is part of the federal government’s safety net for farmers, which is meant to provide farmers with financial support in the event of natural disasters and to ensure that they have an incentive to produce crops. The country’s crop insurance program has become the target for those seeking reform, with some federal lawmakers suggesting that the program encourages farmers to adopt…

Read More

Crop insurance may look notably different following next farm bill

Crop Insurance

Risk management may play an important role in its shape and angle. As the cost of crop insurance continues to skyrocket and takes steps away from paying growers directly and toward measures for risk management, Ohio State University agricultural economists are now predicting that the new focus will play an important role in the shape of the next Farm Bill. The agricultural economists shared their opinions at the 50th Farm Science Review in Ohio. Among those included on the panel at the review featured Carl Zulauf, who is an expert…

Read More