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this is Steven Vegas with live Insurance
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news.com bringing you the major
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headlines from this weekend Insurance
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news homeowners insurance customers in
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Florida receive explanation for cost
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hikes State officials have released a
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statement concerning the reason behind
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recent hikes in homeowners insurance
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rates according to the statement
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reinsurance is a major part of the
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reason for growing homeowners insurance
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rates insurance commissioner Kevin
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McCarthy notes that the cost of
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reinsurance has been declining but
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instead of passing savings on to
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Consumers insurers are using their extra
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money to purchase more reinsurance
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coverage insurance news regarding
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Iranian oil imports moves forward in
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India Hindustan petroleum has announced
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that it will begin importing 1 million
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tons of Iranian oil this fiscal year
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depending on whether insurance issues
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can be adequately resolved
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Iran and India have been working
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together in order to reinstate the
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regular oil trade but sanctions against
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Iran have created a very problematic
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Insurance environment for both countries
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once these insurance issues are resolved
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Hindustan petroleum will begin importing
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oil from Iran which may help dispel some
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of the economic tension that has been
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created due to the lack of oil trade
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auto insurance identification can be
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displayed on smartphones in Texas a new
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law in Texas will allow drivers to
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display proof of auto insurance using
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nothing more than their smartphone
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legislators considered the law to be a
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common sense step toward making
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Insurance documentation easier to access
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for law enforcement and drivers alike
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drivers will still be able to use other
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forms of physical documentation in order
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to prove that they have adequate
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insurance coverage flood insurance law
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leads to Surge in rates a federal law
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enacted in 2012 is beginning to have a
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significant impact on flood insurance
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rates in the United States the law is
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meant to ensure that the national flood
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insurance program better reflects the
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financial risks associated with flood
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disasters per the law homeowners in
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risk-prone areas must make renovations
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to their properties in order to make
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these properties more resilient against
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the damage caused by floods Idaho Health
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Insurance Exchange will not be run by
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the federal government Idaho officials
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have released a statement announcing
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that the state will be in charge of its
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own Health Insurance Exchange the
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initiative will be managed by the Idaho
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Health Insurance Exchange board which
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will manage and oversee the continued
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development of the marketplace a website
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is currently under development for the
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exchange that will help consumers find
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the coverage that they are interested in
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that's it for this week's news Roundup
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be sure to visit live insuranc newws
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