CINCINNATI—(BUSINESS WIRE)—July 14, 2014 — Great American Insurance Group has enhanced its supplemental unemployment product, IncomeAssure, to include a private extended unemployment solution in North Carolina. A formula established in 2013 North Carolina legislation further reduced the maximum number of state unemployment benefit weeks to 14 for those who initiate claims after July 6, 2014. Great American’s enhanced coverage is welcome news to those who may experience the state’s cuts in unemployment benefits. North Carolina’s maximum benefit term is now the shortest of all the state unemployment systems.
To offset the effects of the shortened benefit period in North Carolina, Great American now offers an optional extended benefit for a period equal to 26 weeks less the maximum North Carolina benefit term in effect when coverage is purchased. This private solution offers a weekly benefit equal to 50% of former income for those qualifying for IncomeAssure supplemental unemployment coverage.
