Many regions across the country are finding that they are faced with much more rain than snow this year – with several places reaching record breaking average temperatures for the month of November and are ready to do the same for this month – and the result is a delay to the start of the snowmobile season. Bob Meyers, the Maine Snowmobile Association’s executive director, said that he isn’t feeling concerned quite yet. That organization is one of the primary contributors to the snowmobile industry in that state, which is…
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Families in Ireland may soon have trouble paying for health insurance
The insurance industry in Ireland is facing troubling times, which may translate into higher rates for consumers. The Irish Patients Association has spoken out about the coming health insurance rate increases coming from several insurance companies. The IPA claims that rates are rising so quickly that they may make it impossible for families to hold on to their policies. The consumer advocacy organization says that if the problem is not addressed legislatively, health insurance will become unaffordable within the next few years. This week, Aviva Health Insurance and VHI Healthcare…
Read MoreLloyd’s enters Florida’s reinsurance market on the heels of new law
Lloyd’s of London, one of the world’s leading insurance and reinsurance specialists, is entering Florida’s reinsurance market. The company joins several other reinsurance organizations flocking to the state to take advantage of a new law that reduces capital requirements for reinsurers. The law, first introduced in 2009 but only recently passed, is an attempt to attract more foreign reinsurance companies to do business in the state, thereby reinvigorating the somewhat stagnant market. Because of the law, Lloyd’s has been approved to do business in the state. According to the law,…
Read MoreLaw against texting while driving is challenging for Kentucky police to enforce
Police in Kentucky have been struggling with the law regarding texting while driving, which they claim to be well intended but highly challenging to try to enforce. Though the statute has been in effect for a year, the first half of that time involved only verbal warnings from police officers. Since January 1, 2011, they have been handing out fines and citations. According to the Kentucky Enquirer, though, since that time only 144 fines and citations have been issued. Lieutenant Kevin Gilpin, of the Erlanger Police explained that the officers…
Read MoreFormer UK Justice Secretary, Jack Straw, calls for auto insurance reform
The call for reform of Britain’s auto insurance industry has gone out once again, this time from former Justice Secretary Jack Straw. The UK, along with several other nations including the U.S. and Germany, has been struggling with soaring auto insurance costs. Consumers have been having a difficult time finding affordable insurance, given the ramping costs. The nations insurers, on the other hand, have never before had such an influx of new customers thanks to a new law approved earlier this year that requires all citizens to have insurance for…
Read MoreMixed reviews on new Florida property insurance bill
Many homeowners who live in Florida may not be so excited about Florida Lawmakers passing Senate Bill 408. The bill is sponsored by Senator G. Richter, and is one of several, aimed at knocking down the “cost drivers” that are causing insurance rates to skyrocket. The bill focuses on creating more competition in the private marketplace and cutting down on fraudulent sinkhole claims. Earlier last month during a Capitol press conference, two local representatives spoke out against SB Bill 408. One of the lawmakers opposing the bill went against his…
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