Auto insurance legislation targeting ride-share companies has failed in Hawaii

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New legislation fails to pass committee New legislation in Hawaii that would require drivers working for transportation network companies like Uber and Lyft to have a higher level of auto insurance coverage has been struck down by the House Consumer Protection and Commerce Committee. The legislation would have introduced more regulation to the transportation network company industry, which is growing quite rapidly throughout the United States. Both Uber and Lyft have been targeted by such legislation before, with lawmakers in some states showing concern over potential insurance gaps. Legislation would…

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Single-payer system could secure health insurance for millions

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Open letter highlights the potential benefits of a single-payer health care system Some 560 medical professionals and medical students have come together to issue an open letter concerning the renewed debate concerning health insurance in the United States. With the 2016 presidential campaign in full swing, politicians have been highlighting the merits of a single-payer health care system. Such a system involves the state, rather than insurance companies, paying for all health care costs. Many believe such a system would make it easier for people to acquire health insurance coverage.…

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Cyber insurance is becoming more important throughout the world

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Report highlights the growing demand for cyber protection IDC Financial Insights has released a new report highlighting cyber insurance as an excellent opportunity for insurers due to the growing demand for this form of coverage. Cyber insurance is becoming more important as companies become more reliant on digital technology. These companies face serious risks that could result in severe financial losses if they do not adequately protect the sensitive information of consumers. Demand for cyber protection is on the rise and insurers may find promising opportunities in this emerging market.…

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21 million people could lose their health insurance coverage under Trump plan

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Analysis shows repealing the Affordable Care Act could have dire consequences The Committee for a Responsible Federal Budget has released an analysis of the health care plan proposed by presidential hopeful Donald Trump. The analysis suggests that Trump’s plan could result in approximately 21 million people losing their health insurance coverage. It may also cost some $270 billion over 10 years, if it was implemented. Another analysis from the Congressional Budget Office suggests that as many as 22 million people could lose their health insurance coverage if Trump’s plan is…

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Lawmakers work to bring reform to the National Flood Insurance Program

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Lawmakers are fighting to change and improve NFIP Federal lawmakers are again attempting to introduce reforms to the country’s troubled National Flood Insurance Program (NFIP). Earlier this month, the House Financial Services Committee granted approval for the Flood Insurance Market Parity and Modernization Act. The legislation has won support from several lawmakers and is designed to mitigate the cost of flood protection. The legislation will also ensure that those seeking a mortgage for their property are treated the same when purchasing flood policies from the private market as they are…

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