Insurance Newsletter (8/28/2010)
Dear 99Insurance.com Readers,
Welcome to the Insurance Newsletter (8/28/2010). In this edition we have included news, articles and videos. You can find more resources on our website: 99Insurance.com.
Insurance News
Insurance Suit Ends With $14 Million Settlement
After six years and a circuitous route through state and federal courts, a class action claiming that interrelated insurance companies illegally raised health policy premiums on small-group policyholders has settled for more than $14.6 million. “There are going to be substantial refunds for the folks who bought these policies,” said one of the lead attorneys. “This is not one of those … (More)
Insurance Rates On Gulf Coast Skyrocketed After Katrina
Mississippi Gulf Coast residents struggled to rebuild with the skyrocketing insurance costs in the wake of Hurricane Katrina. (More)
Financial Stocks: Financials rise with GDP, Bernanke in view
U.S. financial stocks shook off early losses Friday and rallied following the latest economic data and a widely anticipated speech by Federal Reserve Chairman Ben Bernanke. (More)
Investors buy ING’s Canadian industrial properties for C$2 billion; ING sells majority stake
A pair of private equity investors will buy ING Summit Industrial Fund LP, a portfolio of light industrial properties in Canada, for 2 billion Canadian dollars, the Dutch bank ING Groep NV said Friday. (More)
Insurance Articles
Eight Kinds of Insurance Never to Buy
You got to hand it to them, if nothing else, insurance companies are creative. Who else would come up with the idea of health insurance on your pet? It’s a nifty idea – definitely worth a chuckle, but not worth the dollar of your hard-earned cash. Here are some other insurance policies to avoid: (More)
Interpretation and Rectification OF ARPI – Implied Terms
It is also possible that, on occasions, a court can look beyond the express terms of a contract to imply terms to fill a gap left by the assured and the underwriter. This is a very uncertain process and not to be recommended to the parties as a method of supplementing the terms of the contract Parties frequently seek such relief, but the courts are generally reluctant to allow it. (More)
Contact Insurance – Consideration, Fronting – A Working Example
The “Tomboy Toy Company Inc.” wished to purchase ARPI from “Calamity Insurance” to cover worldwide locations. Unfortunately, Calamity Insurance was not authorised throughout South America and was obliged to use the services of Only Front Insurance, a locally authorised company in Peru. (More)
Small Stores Deserve Big Protection
But behind the scenes of any business there is a great deal of hard work involved. New stock needs to be ordered, staff rotas must be organised and accounts have to be kept up to date. Local stores … (More)
Medicare Insurance – What Is Covered By Medicare?
There are certain things that Medicare will and will not cover. In order to qualify for Medicare coverage, you must be 65 years old or older. Alternately, you can be younger if you are disabled and ha… (More)
This newsletter is provided by 99Insurance.com.