Posts Tagged ‘Obama’
Obama Plan to Cut Support For Terrorism Insurance Sparks Protest
Posted by: incur on: September 19, 2010
As the nation marks nine years since the 9/11 attacks, the Obama administration’s plans to cut a federal stop-loss program for terrorism insurance would reduce the availability and increase the cost of coverage for acts of terrorism, a property-casualty think tank said Friday. The Terrorism Risk Insurance Act of 2002 was a result of the [...]
Obama Taking To Road To Appeal To Skeptical Public, Skittish Lawmakers
Posted by: incur on: March 18, 2010
WASHINGTON ? With the fate of his signature legislative initiative far from certain, President Barack Obama is taking his last-ditch push for health care reform on the road. In a speech Monday in Philadelphia, Obama will try to persuade the public to back his plan to remake the nation’s health care system, while also urging [...]
Obama Addresses ‘No Child Left Behind’ Overhaul
Posted by: incur on: March 18, 2010
The Obama administration’s $50 billion proposed education budget adds $3 billion in funding to help schools meet these revised goals, with the possibility of an additional $1 billion if the overhaul plan passes Congress. WASHINGTON (CNN) — The Obama administration plans to send a wide-ranging overhaul of the No Child Left Behind education law to [...]
Obama Move Against Tax Havens Called Tougher Than Past Efforts
Posted by: incur on: February 10, 2010
WASHINGTON?Insurance industry representatives said President Obama?s new effort to tax insurers who cede premiums to overseas affiliates is far tougher than previous proposals aimed at low-tax offshore havens. The Obama administration?s concept contained in the budget it released yesterday unleashed withering criticism from a spokesman for Bermuda insurers as well as officials of the Risk [...]
Obama Financial Services Reform Praised By Rival Insurance Groups
Posted by: incur on: June 23, 2009
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WASHINGTON—Supporters and opponents of a new federal regulatory regime for the insurance sector all found something to like in the Obama administration’s white paper on financial services regulatory reform. Among those reacting with positive comments were insurance trade groups that support retention of the current state-based regulatory system for insurance, the Independent Insurance Agents and [...]
Obama to propose estate tax changes, closing domestic loopholes to raise about $60 billion over 10 yrs
Posted by: incur on: May 13, 2009
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The Obama administration on Monday will propose raising nearly $60 billion over 10 years through changes to the estate tax law and closing certain domestic tax loopholes, an administration official said. Funds raised will go to beef up a health care reserve fund, a $634 billion pot of money President Barack Obama wants to use [...]
Obama berates AIG and vows to try to block bonuses
Posted by: incur on: April 4, 2009
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WASHINGTON – Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for “recklessness and greed” Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money. “How do they justify this outrage to the taxpayers who are keeping the [...]
Obama budget chief firm on Medicare Advantage cuts
Posted by: incur on: April 3, 2009
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President Barack Obama’s budget chief isn’t sugarcoating his message to health insurance executives: the Medicare Advantage party is over. White House Budget Director Peter Orszag says the government will no longer overpay companies that offer Medicare Advantage plans, the privately run portion of the government health program for seniors. Orszag has told executives at a [...]
Obama berates AIG and vows to try to block bonuses
Posted by: incur on: April 3, 2009
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WASHINGTON – Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for “recklessness and greed” Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money. “How do they justify this outrage to the taxpayers who are keeping the [...]
