Live Insurance News

Liability insurance for guns proposed by federal lawmakers in the US

February 13, 2013February 12, 2013 S.Vagus

Lawmakers consider liability insurance a solution to the gun control issue Gun control has been a very hot topic in the U.S. The country has seen a spate of violent crimes associated with guns in recent months, some of which have sparked public outcry for stricter measures to control the availability of various types of firearms throughout the country. The issue has become controversial due to the second amendment of the U.S. constitution. Federal lawmakers have been struggling with the issue since public outcry for gun control has begun, and…

Aon report focuses on impact of US natural disasters

January 29, 2013January 28, 2013 Nordstrom

Natural Disaster damage insurance trends

US disasters deal costly blow to global insurance industry, according to Aon Aon Benfield, a leading reinsurance and catastrophe modeling firm, has released its latest Annual Global Climate and Catastrophe Report. The report highlights the impact that natural disasters have had throughout the world and how these disasters have hit the global insurance industry and economy. According to the report, two of the world’s costliest natural disasters occurred in the U.S. While these disasters were largely confined to the borders of the country, Aon notes that their influence has sent…

Insurance news from U.S. policyholders reveals they’re spending more

January 21, 2013April 30, 2013

37 percent of American survey respondents say they spent more over the last 12 months. The results of a survey of policyholders in the United States are making insurance news as they have revealed that Americans believe they have spent more for their coverage over the last year. The majority feel that the reason for this increase in spending is due to higher premiums. Among the participants in this Princeton Survey Research Associates International insurance news making study, 37 percent claimed that they had spent a larger amount last year…

Flood insurance approval for $9.7 billion in claims from U.S. Congress

January 7, 2013April 30, 2013

The final congressional nod was achieved when the Senate passed the bill on Friday. The new United States Senate has now passed a bill for $9.7 billion which has brought about the final approval of Congress to assist in the payment of flood insurance claims for businesses, homeowners, and renters whose properties were damaged by Superstorm Sandy when it hit at the end of October 2012. This has replenished the funds for NFIP, which were reaching urgently low levels. The National Flood Insurance Program (NFIP) was predicted to run dry…

Transaction Account Guarantee program extension denied

December 18, 2012December 18, 2012 S.Vagus

Transaction Account Guarantee Program Not Extended

Transaction Account Guarantee program will not be extended Earlier this month, the U.S. Senate was mired in debate concerning the Transaction Account Guarantee program. This program was created at the height of the U.S. financial crisis as an attempt to provide banks with protection against the volatile economic climate. The program provided federal insurance coverage for deposits kept in non-interest bearing bank accounts. This program successfully increased the financial activity that banks saw during the financial crisis, but the program has failed to receive the support it needed to be…