Author: Dan

Borrowing limit on National Flood Insurance Program raised by congress

Dan
National Flood Insurance Program rates

The National Association of Professional Insurance Agents (PIA) applaud the congressional action taken on January 4, 2013 to raise the borrowing limit for the NFIP, sending relief to badly damaged areas of the northeast still suffering after hurricane Sandy. A hearing on funding to help flood relief victims was scheduled for January 1, but was canceled by Speaker John Boehner (R-OH) just moments after the so-called fiscal cliff deal was approved by the House of Representatives. Lawmakers and politicians in the northeast protested, most notably Gov. Chris Christie (R-NJ) and…

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National Flood Insurance Program in danger of running out of money

Dan
Flood Insurance

National Flood Insurance Program will be out of funds by next week There may be bad news on the horizon for the National Flood Insurance Program. The Federal Emergency Management Agency (FEMA) has announced that the federal flood insurance program will be completely out of money next week. Hurricane Sandy, which struck the East Coast in late October 2012, dealt a powerful blow to the National Flood Insurance Program. The powerful storm compounded the financial problems that the program has been dealing with for several years. FEMA officials push for…

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Unemployment insurance gets and overhaul in New Mexico

Dan
Unemployment Insurance North Carolina

Unemployment insurance system of New Mexico to receive an upgrade New Mexico is set to launch a new Unemployment Insurance Tax & Claims system that could help improve the efficiency and integrity of the state’s unemployment insurance program. The system will be launched by the Department of Workforce Solutions, and will help the agency prevent, detect, and recover from illegitimate unemployment insurance payouts that may have been issued due to fraud. The system has won the approval of Governor Susana Martinez, who is eager to welcome the system to the…

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Flood insurance to be mandatory for thousands of Connecticut residents

Dan
Flood Insurance

Connecticut homeowners face new flood insurance requirements Thousands of Connecticut residents are expected to feel the weight of mandatory flood insurance coverage in the coming months. The Federal Emergency Management Agency (FEMA) is currently drafting new flood maps for the entire U.S. coastline. This is part of an ongoing effort to understand and mitigate the risks associated with rising sea levels. New flood maps change the risks some properties face in regards to floods. According to FEMA, homes in high risk areas are required to be covered by flood insurance…

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Federal unemployment insurance thrust into the limelight

Dan
President Obama health insurance Obamacare

Obama speaks out about federal unemployment insurance program In the U.S., a federal unemployment insurance program is set to expire at the end of this year. President Barack Obama this week warned federal lawmakers not to let this program expire or it could spell disaster for long-term jobless individuals. During a press conference held on Wednesday, Obama criticized the Plan B proposal on a number of fronts, one of which includes its refusal to address the unemployment issue. Plan B does not account for insurance woes The Plan B proposal…

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Health insurance exchanges a go in 18 states

Dan
Vermont Health insurance exchanges

Sebelius announces 18 states are pursuing health insurance exchanges Department of Health and Human Services Secretary Kathleen Sebelius has announced that 18 states are planning to develop and operate their own health insurance exchanges. All states were required to submit their formal plans for an exchange program by December 14. According to Sebelius, the number of states that are building their own health insurance exchanges aligns with the predictions of the Department of Health and Human Services. Though the deadline has passed, states still have the opportunity to develop their…

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Ohio lawmakers approve changes to minimum auto insurance requirements

Dan
auto insurance

Ohio auto insurance expected to become more expensive for some drivers Ohio drivers are expected to see the costs of auto insurance climb, but not because insurance companies are raising rates for coverage. A new law has been approved by the Ohio Legislature that will increase the minimum level of auto insurance drivers are required to carry in the state. Though the law has been approved by both the Ohio House and Senate, it must still be signed by Governor John Kasich. If the law receives the Governor’s approval, Ohio…

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