Live Insurance News

Canada to make changes to unemployment insurance regulations

May 28, 2012May 19, 2013 S.Vagus

Unemployment regulations targeted by Conservative government Employment insurance in Canada is undergoing some major changes. The government has announced changes to employment insurance regulations that are meant to address the high unemployment rates the country is facing currently. This unemployment rate is leading to a high payouts, which has put the government under a degree of financial stress. The government believes that these changes to insurance regulations will encourage the unemployed to accept lower-paying jobs or commute to more distant locations, which could get the unemployed back to work and…

Lawmakers in Massachusetts approve rate freeze for the state’s unemployment insurance plans

January 19, 2012January 19, 2012 Marc

Massachusetts lawmakers have passed a $130 million spending plan this week. The legislation includes a provision that freezes the unemployment insurance rate that businesses have to pay. This is the fourth consecutive year that lawmakers have put a freeze on the insurance rate, hoping to spare the state’s businesses from costly and, at times, excessive rate increases from insurance companies. Legislators believe that the rate freeze will help stimulate the state’s economy, as businesses will be saving approximately $220 per employee on insurance coverage. The nation’s economy is still showing…

Unemployment insurance for 3 million in jeopardy as Congress leaves for vacation

December 22, 2011December 22, 2011 Nordstrom

More than 3 million people throughout the U.S. could lose their unemployment insurance next year if Congress cannot breach an impasse that has stalled the legislative process. Federal lawmakers are currently deliberating on how to extend the federal insurance benefits program given the rising costs seen within the system. The 2008 recession has had drastic effects on the nation’s workforce, pushing many out of jobs they have had for decades. Unemployment reached record highs throughout the nation, putting immense financial strain on the unemployment insurance system. Legislators have yet to…

Nevada Senate passes new mortgage and unemployment insurance law

December 19, 2011December 19, 2011 S.Vagus

This past Saturday, the Nevada Senate approved new legislations that would keep payroll tax cuts from increasing and ensure that unemployment insurance does not expire at the end of the year. While the passing of the legislation is good news for the unemployed and employed alike, the Senate will be paying for a two-month extension for the insurance program, which will translate into higher prices for those looking to buy or refinance their homes. The bill establishes a new mortgage insurance fee, which is essentially an extra $15 monthly fee…

Michigan lawmakers make changes to state’s unemployment insurance system

December 16, 2011December 16, 2011 Nordstrom

Several legislations were passed by the Michigan Legislature this week. Many of these legislations held provisions that will make deeper cuts to the state’s unemployment insurance system, if signed into law by Governor Rick Snyder. The state’s unemployment insurance system has already seen changes earlier in the year, when lawmakers passed new legislations that limited the maximum benefits people could receive. These new changes will have a profound impact on how benefits are calculated for residents and will change who is eligible to receive these benefits. The legislations aim to…