Insurance News
Vital Signs: Ten health-insurance tips for new graduates
Many new college graduates will soon find that the question of what to do about health insurance is anything but academic. (Tue, 09 Jun 2009 14:18:13 GMT)
UPDATE: UK Government Widens Trade Credit Insurance Support
LONDON -(Dow Jones)- The U.K. government said Tuesday it is easing access to its GBP5.0 billion trade credit insurance scheme, following concerted pressure from business groups. (Tue, 09 Jun 2009 13:37:52 GMT)
Today’s Inbox: Insurance paper pushing costs billions
My husband, Floyd Ziesman, passed away March, 2008 from a rare lung cancer. For 10 years, we had to fight the system, even though we had a group health insurance through my employers as well as his Medicare and Medicare supplement. (Tue, 09 Jun 2009 13:34:43 GMT)
Mandelson Lowers Barriers to U.K. Credit Insurance Program
June 9 (Bloomberg) -- Business Secretary Peter Mandelson allowed more U.K. companies to access the government’s 5 billion-pound ($8.1 billion) insurance program for trade credit. (Tue, 09 Jun 2009 13:16:43 GMT)
HSBC launches China JV to speed insurance push
* Targets China's rising insurance demand (Tue, 09 Jun 2009 11:33:49 GMT)
UK Government Widens Trade Credit Insurance Support
LONDON -(Dow Jones)- The U.K. government said Tuesday it is widening its GBP5.0 billion trade credit insurance scheme following pressure from business groups. (Tue, 09 Jun 2009 11:22:31 GMT)
Insurance regulation is needed, report says
Deregulation of health insurance premiums in the 1990s has led to “excessive rate increases,” according to a new report by state insurance regulators released today that calls for the reinstatement of the regulator's authority to review and reject premium hikes in advance. (Tue, 09 Jun 2009 11:13:45 GMT)
HSBC Poised for China Insurance Joint Venture
The biggest European bank, HSBC , has received regulatory approval to enter into an insurance joint venture in China, as part of its effort to increase income from insurance, Reuters reported. (Tue, 09 Jun 2009 11:01:22 GMT)
Japan Insurance Stocks Drop; Softbank Climbs on New iPhone Sale
June 9 (Bloomberg) -- Japan’s insurance shares fell, led by Nipponkoa Insurance Co. on a newspaper report former executives opposed its merger with a rival. Softbank Corp. jumped after saying it will sell Apple Inc.’s new iPhone. (Tue, 09 Jun 2009 04:30:49 GMT)
AP sources: House Dems favor insurance requirement
Senior House Democrats drafting health care legislation are considering slapping an unspecified financial penalty on anyone who refuses to purchase affordable health insurance, a key committee chairman said Monday. (Tue, 09 Jun 2009 04:12:24 GMT)
Adviser Says Obama Still Against Taxing Health Insurance Benefits
(Paris) -- President Obama is still pushing for a health care reform solution that won't tax employer-provided health insurance benefits. (Mon, 08 Jun 2009 14:48:24 GMT)
How to get the best rate on life insurance
Buying life insurance can be intimidating. But don't let that discourage you from trying to get the best deal on the policy that's right for you. (Mon, 08 Jun 2009 14:33:38 GMT)
Insurance Industry Supports Healthcare Reform--Say It Ain't So!
An individual mandate would be good news for insurance companies. (Mon, 08 Jun 2009 14:24:35 GMT)
RMS Completes Micro-Insurance Quake Project for Rural China
Risk Management Solutions has completed a new quantitative analysis, which "reveals that a micro-insurance system could be both technically and commercially viable to provide cover against ... (Mon, 08 Jun 2009 14:12:21 GMT)
Protecting The Value Of Long-Term Care Insurance
Today, U.S. Senators Mel Martinez (R-FL) and Herb Kohl (D-WI) of the Special Committee on Aging examined the long-term care insurance industry. The high cost of long-term care and the current economic instability are creating significant financial planning challenges for baby-boomers, seniors, and individual states. (Mon, 08 Jun 2009 12:11:08 GMT)
Insurance / Perspectives
With the Venezuelan economy heading for a contraction this year after average GDP growth of around 10% in 2004-08, one would think the outlook for the insurance sector, as many other sectors, is far from promising. (Mon, 08 Jun 2009 11:07:43 GMT)
Will health insurance ‘haves’ pay for ‘have-nots’?
You’ve been enjoying thousands of dollars in tax-free compensation, if you’re one of the 164 million people covered by health insurance from your job. Are you ready you to pay taxes on your tax-free income? (Mon, 08 Jun 2009 10:45:36 GMT)
Workers' comp insurance about to jump
Five years after California reined in skyrocketing workers' compensation insurance rates, employers are facing another round of rate increases, blamed largely on rising medical costs. Over the past two months, half a dozen insurers have notified the state of their intention to raise their workers' comp rates by 10 percent to 33.9 percent. (Mon, 08 Jun 2009 09:25:45 GMT)
Health insurance industry supports change
Some people may find it hard to believe that the U.S. health insurance industry supports making major changes to the nation's health-care system. (Mon, 08 Jun 2009 07:24:25 GMT)
White House straddles on health insurance tax
WASHINGTON - When it comes to taxing health insurance benefits, President Barack Obama hasn't said yes, and may never. But he and his top aides won't quite say no, either, to an idea he attacked sharply in his campaign for the White House. (Mon, 08 Jun 2009 07:23:24 GMT)
Flood insurance will cost you less this year
HOUMA - Terrebonne homeowners will save 15 percent on their flood-insurance policies this year thanks to the parish’s participation in a program that encourages home elevation and other building standards to help flood-proof communities. (Sun, 07 Jun 2009 11:05:28 GMT)
Insurance Carriers Tackle Mountain Of Work In Hail Claims
Insurance carriers expect to be in part of Fishers, which was hit by hail as large as baseballs earlier this week, for a month or more. (Sun, 07 Jun 2009 10:26:05 GMT)
Don't reduce your property insurance coverage to reflect lower home values
Experts say it costs more to rebuild than it does to start from scratch, so the market value of a house doesn't indicate the amount of insurance you need. There are a number of steps every homeowner should take to lower the cost of property insurance. But reducing the amount of coverage to match today's lower values is probably not one of them. (Sun, 07 Jun 2009 07:19:54 GMT)
State may cut federally funded health insurance for children
Thomas Bustos, who is 11, doesn’t understand what health insurance is. All he knows about the proposed elimination of the state program that covers him and his 9-year-old brother is his mother is scared. (Sun, 07 Jun 2009 07:04:24 GMT)
'Public option' insurance plan stirs debate
HELENA - As health care reform kicks into high gear in Washington, D.C., one of the fiercest political fights is over creating something called a "public option" insurance plan. (Sun, 07 Jun 2009 06:40:25 GMT)
'Public option' insurance plan stirs debate
HELENA - As health care reform kicks into high gear in Washington, D.C., one of the fiercest political fights is over creating something called a "public option" insurance plan. Yet few Americans even know what it is or how it's supposed to work. ... (Sun, 07 Jun 2009 06:39:52 GMT)
FEMA urging Florida residents to purchase flood insurance
With hurricane season underway, the Federal Emergency Management Agency is reminding Florida residents about the importance of flood insurance, even if they don't live in high-risk areas. (Sun, 07 Jun 2009 06:10:39 GMT)
Senate proposal would mandate municipal insurance expenses
Embedded in the state Senate's budget, an insurance proposal is presenting a not-so-veiled ultimatum to municipalities: Curb your health care costs or else. (Sun, 07 Jun 2009 04:25:26 GMT)
Insurance help available this week
An investigator from the state insurance commissioner's office will answer questions and help people with insurance problems during a session scheduled for 9:30 a.m. to 3:30 p.m. Wednesday at Athens City Hall. (Sun, 07 Jun 2009 04:08:00 GMT)
House Democrats Weigh Health Measure That Requires Insurance
June 6 (Bloomberg) -- House Democrats are weighing health care overhaul legislation that would require Americans to have health insurance, with some exceptions, according to an outline circulating in Washington. (Sat, 06 Jun 2009 22:28:17 GMT)
Richard White: Reserves cannot be used to pay insurance premiums
Reserves cannot be used to pay insurance premiums (Sat, 06 Jun 2009 10:13:09 GMT)
Why Don't All Insurance Plans Cover Ankle Replacements When The FDA Has Approved Them?
It's been a decade since the U.S. Food and Drug Administration approved the first total ankle-replacement system for patients with severe ankle arthritis. But several insurance companies still deny coverage, Loyola University Health System orthopaedic surgeon Dr. (Sat, 06 Jun 2009 10:11:28 GMT)
Decreasing insurance may be costly
There are a number of steps every homeowner should take to lower the cost of property insurance. But reducing the amount of coverage to match today's lower values is probably not one of them. (Sat, 06 Jun 2009 09:35:25 GMT)
Draft bill guarantees health insurance for all Americans
WASHINGTON -- Employers would be required to offer health care to employees or pay a penalty -- and all Americans would be guaranteed health insurance -- under a draft bill circulated Friday by Sen. Edward M. Kennedy's health committee. (Sat, 06 Jun 2009 09:18:23 GMT)
Hyundai, Kia top insurance survey
Vehicles from Hyundai and Kia took the top five spots in a survey by www.insure.com, which rated vehicles for the lowest insurance costs. (Sat, 06 Jun 2009 09:09:04 GMT)
William Russell and Dubai Insurance Company launch enhanced international life insurance plan
International insurance specialist William Russell and Dubai Insurance have launched their May 2009 Global Life insurance plans with an increase to the maximum life benefit insured. (Sat, 06 Jun 2009 07:41:15 GMT)
Inadequate health insurance leaves Nebraskans in a pinch
When state Sen. Mike Gloor left his job as president and chief executive officer at St. Francis Medical Center in Grand Island, he was thrust into health insurance limbo. (Sat, 06 Jun 2009 06:12:23 GMT)
Don't reduce your property insurance coverage to reflect lower home values
Experts say it costs more to rebuild than it does to start from scratch, so the market value of a house doesn't indicate the amount of insurance you need. There are a number of steps every homeowner should take to lower the cost of property insurance. But reducing the amount of coverage to match today's lower values is probably not one of them. (Sat, 06 Jun 2009 02:16:02 GMT)
Obama Health Overhaul May Spur Insurance Acquisitions (Update2)
June 5 (Bloomberg) -- President Barack Obama’s health overhaul may send insurance leaders UnitedHealth Group Inc., WellPoint Inc. and Aetna Inc. on a wave of acquisitions of smaller companies as the industry shifts from paying claims to preventing illness. (Fri, 05 Jun 2009 21:00:04 GMT)
Farmers Insurance loses Nebraska high court appeal
The Nebraska Supreme Court has returned for possible trial a lawsuit against Farmers Insurance. In the ruling issued Friday, the court upheld the Court of Appeals' ruling overturning a district court's judgment favoring Farmers. (Fri, 05 Jun 2009 16:01:15 GMT)
Killion wins Shelter Insurance scholarship
GHS Graduate Stephanie Killion has been awarded a $1,500 scholarship from the Shelter Insurance Foundation. (Fri, 05 Jun 2009 14:52:13 GMT)
Sean Hurley Joins Ameritox as Vice President for Insurance and Managed Care Contracting
BALTIMORE, June 5 /PRNewswire/ -- Ameritox, the U.S. leader in pain prescription monitoring, has announced the appointment of Sean Hurley as Vice President of Insurance and Managed Care Contracting. (Fri, 05 Jun 2009 14:17:46 GMT)
Michigan Health Care Insurance Package Could Up Taxes By $700 Million
LANSING - A Michigan Senate Fiscal Agency analysis of the health care insurance package introduced by Senate Republicans has been distributed by businesses worried the package could boost overall state taxes by as much $600 million to $700 million. (Fri, 05 Jun 2009 13:13:27 GMT)
Florida Gov. Crist Says He's Likely to Veto Insurance Deregulation Bill
Florida Gov. Charlie Crist says he's leaning toward vetoing a bill that would deregulate some premiums for property insurance. Asked he would veto the bill, Crist said he's "moving in that ... (Fri, 05 Jun 2009 13:11:36 GMT)
Florida Moves To Increase Health Insurance For Children
Capitol News Service reports that an estimated 50,000 additional uninsured children may receive medical coverage from legislation that Gov. Charlie Crist signed Tuesday. "The Kid Care program offers low cost insurance to children up to ages 19. But penalties and a lengthy application process have kept thousand of families out," Capitol News Service reports. (Fri, 05 Jun 2009 13:10:18 GMT)
Best Affirms Intact Insurance (former ING Canada) 'A+' Ratings
A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of Toronto-based Intact Insurance Group, the former ING Canada Group. It ... (Fri, 05 Jun 2009 11:11:41 GMT)
Live: Health insurance
How much life insurance cover do you need if you are a working or self-employed professional? What factors decide the optimum life insurance that an individual must have? (Fri, 05 Jun 2009 07:39:31 GMT)
State insurance division warns of scam
Insurance producers in Colorado are being warned not to give personal information to anyone posing as a state employee, a scam that first surfaced in California and then Nevada. (Fri, 05 Jun 2009 07:37:19 GMT)
Torchmark Insurance Unit Accused of Discrimination (Update1)
June 4 (Bloomberg) -- Torchmark Corp. ’s Liberty National Life Insurance Co. was accused of illegally discriminating against Haitian consumers in Florida. (Thu, 04 Jun 2009 20:46:39 GMT)
OneBeacon Insurance sets 21-cent dividend
OneBeacon Insurance Group, Ltd. said Thursday its board declared a regular quarterly dividend of 21 cents. The Hamilton, Bermuda-based company will pay the dividend on June 30 to shareholders of record June 16. (Thu, 04 Jun 2009 14:29:45 GMT)
Ex-Wisconsin insurance executive charged in scam
A former Wisconsin insurance executive and a business associate were indicted Wednesday on charges of carrying out what prosecutors called a yearslong scam to defraud a major insurer of more than $800,000. (Thu, 04 Jun 2009 12:03:02 GMT)
Obama Open to a Mandate on Health Insurance
President Obama said he was receptive to proposals to require every American to have health insurance and make employers offer it, but he also said there should be exemptions. (Thu, 04 Jun 2009 11:53:13 GMT)
Obama Warms to Idea of Requiring Health Insurance
One day after signaling a fresh willingness to consider taxing employer-sponsored health insurance, President Obama indicated yesterday a new openness toward a nationwide requirement that every American have health coverage. (Thu, 04 Jun 2009 04:00:00 GMT)
Obama defends public health insurance option
President Barack Obama on Wednesday said he was open to the idea of a public funding of health insurance, the latest twist in his ambitious and difficult goal to reform the country's health care system by year's end. (Wed, 03 Jun 2009 23:18:03 GMT)
Obama yields on health insurance mandates
President Barack Obama told Congress on Wednesday he was open to making mandatory health insurance part of an overhaul of the U.S. healthcare system but only with exemptions for the poor and for small businesses. (Wed, 03 Jun 2009 22:37:55 GMT)
Obama says insurance mandates must excuse poor
President Barack Obama told Congress on Wednesday that any requirement for mandatory health insurance in a proposed overhaul of the U.S. healthcare system should allow exemptions for the poor and for small businesses. (Wed, 03 Jun 2009 20:32:37 GMT)
Obama would exempt some from insurance mandate
President Barack Obama said Wednesday that if Congress ends up requiring individuals to purchase health insurance, people who can't afford it and small businesses should be exempt. (Wed, 03 Jun 2009 19:19:56 GMT)
Obama presses for public health insurance option
President Barack Obama urged Congress on Wednesday to create a public health insurance program that would compete with private insurers as part of efforts to pass massive health care reform. (Wed, 03 Jun 2009 19:07:10 GMT)
Kohl Seeks Regulation of Long-Term Care Insurance
June 3 (Bloomberg) -- Long-term care insurance may not be a “cure-all” for the estimated 12 million Americans who will require such care by 2020, according to Senator Herb Kohl, chairman of the Senate Special Committee on Aging. (Wed, 03 Jun 2009 18:47:53 GMT)
Obama renews call for public health insurance
President Barack Obama says if Congress ends up requiring individuals to purchase health insurance, people who can't afford it and small businesses should be exempted. (Wed, 03 Jun 2009 18:38:14 GMT)
Obama Urges Quick Action on Insurance
President Obama affirmed his support for the creation of a government-sponsored health insurance plan, but he acknowledged that such a plan would sharply reduce the chances for Republican support. (Wed, 03 Jun 2009 13:38:12 GMT)
Once-prominent Ala. insurance exec gets 12 years
A former Montgomery insurance executive who was once a major supplier of worker compensation insurance in the Southeast was sentenced Tuesday to 12 years in prison for embezzling money from another insurance company. (Wed, 03 Jun 2009 13:17:58 GMT)
Amlin to Buy Insurance Arm of Fortis
Amlin, the Lloyd’s of London insurer, agreed to buy Fortis Corporate Insurance , or F.C.I., a provider of marine and corporate property insurance, from the Dutch government for €350 million, or $500 million, Reuters reported. (Wed, 03 Jun 2009 11:46:42 GMT)
Amlin Will Buy Fortis Insurance Unit for $500 Million (Update3)
June 3 (Bloomberg) -- Amlin Plc , the biggest insurer in the Lloyds of London market, will buy Fortis Corporate Insurance NV for 350 million euros ($500 million) in its largest acquisition as it seeks to expand in areas not related to catastrophe coverage. (Wed, 03 Jun 2009 11:46:33 GMT)
Amlin Will Buy Fortis Insurance Unit for $500 Million (Update2)
June 3 (Bloomberg) -- Amlin Plc , the biggest insurer in the Lloyds of London market, will buy Fortis Corporate Insurance NV for 350 million euros ($500 million) in its largest acquisition to expand in Europe. (Wed, 03 Jun 2009 11:37:50 GMT)
Dutch government sells Fortis insurance arm
The Dutch government announced Wednesday it has agreed to sell Fortis Corporate Insurance to Britain's Amlin plc for euro350 million . (Wed, 03 Jun 2009 10:18:25 GMT)
German Managers Buy More Insurance Covering Probes, FTD Says
June 3 (Bloomberg) -- Demand by German managers for insurance policies covering cost of criminal investigations and prosecution is rising, Financial Times Deutschland reported , citing insurance companies Roland, HDI-Gerling and DAS. (Wed, 03 Jun 2009 09:25:32 GMT)
Proposal would combat rescissions of health insurance policies in California
Steve Poizner, the state insurance chief, plans to unveil rules today that would deter insurers from dropping policyholders who develop costly ailments. California Insurance Commissioner Steve Poizner plans to unveil proposed regulations today to combat the health insurance industry practice of dropping members with costly illnesses. (Wed, 03 Jun 2009 07:18:54 GMT)
Kohl to Seek Regulation of Long-Term Care Insurance at Hearing
June 3 (Bloomberg) -- Long-term care insurance may not be a “cure-all” for the estimated 12 million Americans who will require such care by 2020, according to Senator Herb Kohl, chairman of the Senate Special Committee on Aging. (Wed, 03 Jun 2009 04:01:01 GMT)
Batteries.com, Insurance Firm Report Data Breaches
Batteries.com, an online seller of batteries for consumer electronics, and Aviva USA, one of the largest insurance companies in the world, have both reported data breaches in recent days. (Tue, 02 Jun 2009 20:10:30 GMT)
IBAC urges MPs to maintain separation of banking and insurance activities
The Insurance Brokers Association of Canada (IBAC) is on Parliament Hill Tuesday to address a number of issues of concern to its members, Canada’s 33,000 independent general insurance brokers. (Tue, 02 Jun 2009 14:57:10 GMT)
Firefighter Cuts May Raise Insurance Rates
Atlanta homeowners could be paying 10 percent more for their insurance unless the city hires more firefighters, officials say. | Video (Tue, 02 Jun 2009 14:16:58 GMT)
Fla. car insurance rates up slightly
Annual car insurance rates in Florida were up 4 percent in May, month-over-month, to an average of $1,772.27, according to a report from CarInsurance.com. (Tue, 02 Jun 2009 14:15:08 GMT)
Mississippi Surplus Lines Insurance Fees Go Into General Fund
Mississippi Insurance Commissioner Mike Chaney has delivered a $2 million check targeted for the state's general fund. The money, derived from fees paid by the surplus lines insurance industry, ... (Tue, 02 Jun 2009 14:11:41 GMT)
Insurance Software Suite provides business intelligence.
Insurance Optics Suite allows access to complex data from multiple systems to predict changes in businesses. It includes Financial Risk Intelligence which offers insurance industry data model with financial risk modeling for life and annuity companies. Based on SAP® BusinessObjects(TM) XI, Business Analytics has dashboards that incorporate data from external sources with internal data. It also ... (Tue, 02 Jun 2009 12:52:59 GMT)
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