Insurance companies are reeling from the possible cost of the disaster in Japan. It will be weeks before the entirety of the damages can be put into any kind of perspective to be tallied. It isn’t just the property damage and the economic loss; the lives that were lost will also be a factor. Another aspect of this disaster is the nuclear contamination from damaged reactors. Most traditional policies exclude coverage for nuclear accidents. There is more to assessing damage than people might realize. You have to determine what was…
Read MoreTag: insurance news march 2011
A spring cleaning of America’s flood insurance program
With spring now insight, it’s time to prepare for nasty weather. Depending on what part of the nation you live in, that could mean tornados and hail, or spring rains and flooding. This is a good time to examine your homeowner’s policy for any needed updates that may need to be made. Last year we had amazing weather activity. In the United States, we saw abundant rainfall; with many states receiving record amounts and other states getting well over normal. Snow and bitter cold temperatures set seasonal records, and numerous…
Read MoreMassachusetts seeks relief from increasing health insurance costs
Several union organizations in Massachusetts are preparing to make an announcement today regarding a proposal on municipal health insurance. State legislators have been seeking a way to control the costs of insurance before they begin spiraling out of control. Governor Deval Patrick has been pushing for approval to give municipal leaders more authority to make changes to health insurance coverage. A number of municipal and school district leaders call rising insurance costs “budget busters.” They blame the costs associated with health insurance for cut backs in services and employee layoffs.…
Read MoreNebraska health insurance debate underway
Tuesday marked the beginning of debates in Nebraska regarding a bill that would ban private insurers from cover the cost of abortions unless customers purchased a separate policy. One of the provisions of the bill would limit insurance coverage of abortions that would have been covered from policies offered by insurance exchange programs. The bill was introduced by Senator Beau McCoy and lawmakers will be debating the proposal for some time. Though abortions would be permitted to preserve the life of the mother, no exceptions are made for instances of…
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