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Major insolvencies have occurred at least 62 times since the conspicuous collapse of the Executive Life Insurance Company in 1991. [5]Annuity contracts are protected against insurance company insolvency up to a specific dollar limit, often $100,000, but as high as $500,000 in New York, [6] New Jersey, [7] and the state of Washington. [8]
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
If smallpox vaccine were to be widely administered by public health authorities in response to a terrorist or other biological warfare attack, persons administering or producing the vaccine would be deemed federal employees and claims would be subject to the Federal Tort Claims Act, in which case claimants would sue the U.S. Government in the U ...
Insolvency is a difficult financial situation, but it doesn’t have to last forever.
Each state guaranty association is governed by state law; most associations cover up to at least $300,000 for life insurance death benefits, $100,000 in cash surrender value for life insurance, $250,000 in withdrawal and cash values for annuities, and up to $500,000 in health insurance policy benefits (depending on the type of health insurance ...
While rare, an annuity issuer failing can be a nightmare for policyholders.
The Corporate Insolvency and Governance Act 2020 (c. 12) is an act of the Parliament of the United Kingdom relating to companies and other entities in financial difficulty, and which makes temporary changes to laws relating to the governance and regulation of companies and other entities.
] By 1985, vaccine manufacturers had difficulty obtaining liability insurance. [10] The price of the DPT vaccine skyrocketed as a result, leading providers to curtail purchases, thus limiting availability. Only one company was still manufacturing pertussis vaccine in the US by the end of 1985. [10]