Tag: insurance

New law in Rhode Island aims to protect consumers and insurers from hurricanes

S.Vagus
Hurricane Irene

Legislators pass new law ahead of hurricane season New legislation has been signed into law in Rhode Island by Governor Lincoln Chafee and will provide homeowners with additional protection from hurricanes. Last year, homes throughout the state suffered damages caused by Hurricane Irene. The state was able to recover from the natural disaster, but legislators took note of what they considered to be problems in Rhode Island’s insurance system. The legislation aims to solve these problems and improve the state’s defenses against future hurricanes. Homeowners to be protected against consecutive…

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States to look for alternatives if the Affordable Care Act does not survive

Nordstrom
Arizona Health Insurance industry

Arizona claims health care reform should happen on the local, not federal, level Arizona is among the 26 states that have risen up to challenge the Affordable Care Act, the federal health care law often referred to as “Obamacare.” These states claim that the federal government has overstepped its boundaries in passing the law. These claims primarily concern a handful of provisions found within the Affordable Care Act, one of which makes health insurance coverage mandatory for all U.S. citizens. Arizona, in particular, believes that the key problem with the…

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Department of Transportation looks to ban use of cell phones while driving

Nordstrom
Distracted Driving Statistics

Secretary LaHood campaigns for national ban on mobile device use while driving The U.S. Department of Transportation has called for a nationwide ban on the use of mobile devices whilst driving. Distracted driving has been cited as a major contributor to auto accidents throughout the country. These accidents have long been a thorn in the side of the auto insurance industry, but insurers have been divided on whether mobile devices played a significant role in distracted driving. A national ban on the use of mobile technology while driving could have…

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FEMA pushes for renewal of National Flood Insurance Program

Flood insurance

NFIP set to expire without Congressional action The National Flood Insurance Program (NFIP) is scheduled to expire, once again, on May 31 of this year. The program is the primary source of flood insurance for homeowners throughout the country. Many private insurance companies either do not offer or have stopped offering flood insurance coverage in states where floods and heavy rainfall is common. As such, many homeowners rely on the federal program to protect them from natural disasters. Unfortunately, the program has been crippled by monumental debt, which has threatened…

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A.M. Best report shows strong growth in Vietnamese insurance market

S.Vagus

Vietnam insurance market growing despite global economic turmoil A.M. Best, a credit ratings and financial research company service the insurance industry, has released a new report concerning the insurance market in Vietnam. The report notes that the country’s insurance market is showing strong signs of growth. This is despite the ongoing, worldwide economic problems that have stymied the insurance industry in some markets. A.M. Best is reporting that insurance premiums in Vietnam are growing by double-digit margins. The company expects this trend to continue as the country’s economy shows signs…

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