Search Results for keywords:"insurance regulations"

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Search Results: keywords:"insurance regulations"

  • Type:Rule
    Citation:89 FR 105381
    Reading Time:about 2 minutes

    On November 27, 2024, the Federal Crop Insurance Corporation (FCIC) updated their Area Risk Protection Insurance Regulations and Common Crop Insurance Policy. They later found some mistakes in these changes, such as missing provisions and included ones that shouldn’t have been there. This document corrects those errors, especially in the Small Grains and Green Pea Crop Insurance Provisions. The corrections are effective as of December 27, 2024.

    Simple Explanation

    The rules for crop insurance were updated, but some parts were accidentally left out while others were included by mistake, so now they are fixing it to make sure everything is correct.

  • Type:Proposed Rule
    Citation:89 FR 96627
    Reading Time:about 22 minutes

    The Department of Veterans Affairs (VA) proposes changes to its life insurance regulations to make it easier for terminally ill service members and their families to access benefits. Typically, a terminally ill person must apply for their Accelerated Benefit, which allows them to receive part of their insurance payout early. However, the rule change would allow an alternate applicant, like someone with power of attorney, to apply if the insured person cannot do so themselves because of medical reasons. This update would also make it clear who qualifies as a dependent for insurance coverage and aligns VA's practices with industry standards.

    Simple Explanation

    The VA wants to change its rules to help sick soldiers and their families get their life insurance money faster by letting someone else, like a trusted friend, fill out the forms if they can't do it themselves because they're too sick.

  • Type:Notice
    Citation:90 FR 3891
    Reading Time:about 39 minutes

    The Federal Emergency Management Agency (FEMA) has announced the Financial Assistance/Subsidy Arrangement for private insurers interested in participating in the National Flood Insurance Program's (NFIP) Write Your Own Program for the fiscal year 2026. Insurers must express their interest by May 15, 2025, and prior involvement does not ensure future participation. FEMA will evaluate interested insurers based on industry performance data and other publicly available information according to federal regulations. The notice includes details about the arrangement's terms, highlighting key changes from the previous year, such as clarifications in terminology and responsibilities.

    Simple Explanation

    FEMA wants to team up with private insurance companies to help with flood insurance in 2026. They have some rules that might be hard to understand and could make it tricky for companies to join or follow them perfectly.