Insurance News May 2008
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Judge: Lawyers Cheated Other Lawyers on Same Side of Insurance Dispute
Two sets of lawyers on the same side of a case against Progressive Insurance got into an ugly fight over fees that produced an award of nearly $3 million and an ethics report to the Florida Bar. Judge David Crow awarded the fees plus interest to three law firms that claimed they were cheated by the attorneys who filed the suit against the insurer. Crow found the original lawyers concocted a ... (Thu, 01 May 2008 04:16:32 GMT)
Judge: Lawyers Cheated Other Lawyers on Same Side of Insurance Dispute
Two sets of lawyers on the same side of a case against Progressive Insurance got into an ugly fight over fees that produced an award of nearly $3 million and an ethics report to the Florida Bar. (Thu, 01 May 2008 07:02:12 GMT)
Florida legislators reach compromise on property insurance bill
The state House late Wednesday night passed a sweeping property insurance bill that is touted as a "homeowners' bill of rights." (Thu, 01 May 2008 07:06:59 GMT)
Florida legislators reach compromise on property insurance bill
Florida House and Senate leaders struck a compromise late Wednesday night on a property insurance bill touted as a "homeowners' bill of rights." (Thu, 01 May 2008 07:07:09 GMT)
Allstate to follow California's order to cut auto insurance rates
Allstate Corp. said Wednesday that it will honor a state Department of Insurance order by cutting auto insurance rates an average of 15.9 percent for its California policyholders. But the company said it will continue to appeal the ruling. (Thu, 01 May 2008 07:20:04 GMT)
Automobile insurance review faces rough road
Finance Minister Dwight Duncan wants lawyers, insurers and other critics to agree on fair and affordable changes to Ontario automobile insurance. (Thu, 01 May 2008 08:41:26 GMT)
Insurance bill survives Senate; gill nets do not
MONTGOMERY One insurance relief bill escaped the Senate late Wednesday evening, but might need a boost today to get down to the House of Representatives for a vote. And one gill net ban appears to be dead in the water. (Thu, 01 May 2008 09:30:26 GMT)
Auto insurance may spike if Perdue signs bill
About 30 auto insurers will be ready to change their rates in Georgia without state approval if Gov. Sonny Perdue signs a bill passed by the Legislature in March. Georgia Insurance Commissioner John Oxendine, whose office has about 30 rate-change cases pending, is worried the bill would lead to skyrocketing auto insurance premiums. He has asked the governor to veto the measure, which would allow ... (Thu, 01 May 2008 09:47:28 GMT)
Revamped hurricane insurance
Revamped insurance package passed by House (Thu, 01 May 2008 11:03:04 GMT)
Md. Insurance Law Draws Praise From Young Adults
University of Maryland sophomore Laura Calabrese is not certain what she wants to do when she graduates in two years. But she is thankful that because of recent changes in state law, she'll be able to stay on her parents' health insurance until she is 25, allowing her to consider a volunteer or... (Fri, 02 May 2008 04:15:32 GMT)
Getting married for health insurance
Seven percent of Americans say they or someone in their household decided to tie the knot in the last year so they could receive healthcare benefits, a poll finds. Some people marry for love, some for companionship, and others for status or money. Now comes another reason to get hitched: health insurance. (Fri, 02 May 2008 04:23:59 GMT)
TPG Prepares to Bid for RBS Insurance Division, Telegraph Says
May 2 (Bloomberg) -- TPG Inc. is getting ready to bid for Royal Bank of Scotland Group Plc's insurance unit, the Daily Telegraph reported, without saying where it got the information. (Fri, 02 May 2008 06:19:03 GMT)
State Senate approves bills aiding health insurance access
LANSING -- Michigan's Senate approved compromise proposals Thursday designed to improve access to and affordability of individual health insurance policies purchased by an increasing number of consumers. (Fri, 02 May 2008 07:35:47 GMT)
Congress OKs ban on job, insurance bias based on gene tests
WASHINGTON - Congress sent President Bush a bill yesterday forbidding employers and insurance companies from using genetic tests showing people are at risk of developing cancer, heart disease or other ailments to reject their job applications, promotions or health-care coverage, or in setting premiums. (Fri, 02 May 2008 07:39:56 GMT)
TPG considers bid for RBS insurance arm
Private equity firm Texas Pacific Group is considering a bid for Royal Bank of Scotland's 8 billion pound insurance arm, a source familiar with the matter said on Friday. (Fri, 02 May 2008 10:08:00 GMT)
Munich Re, Hero start Indian life insurance venture
FRANKFURT, May 2 - Germany's Ergo Insurance Group and India's Hero Group have agreed to form a life insurance joint venture in India, Ergo parent Munich Re said on Friday. (Fri, 02 May 2008 10:08:51 GMT)
Graduates can stay on insurance until age 25
Thousands of seniors graduating from Maryland colleges this spring will be guaranteed the right to stay on their parents' health insurance until they turn 25, thanks to a law that went into effect this year. (Fri, 02 May 2008 10:09:48 GMT)
House bars use of genetic data in jobs, insurance
Scientists hope bias protections will spur research The House of Representatives passed legislation yesterday barring the use of genetic information in job and health insurance decisions, moving the government to the cusp of enacting the first federal law dealing with DNA-based medical care. (Fri, 02 May 2008 11:19:37 GMT)
Insurance costs squeeze Montanans
Montanans who have health insurance are spending a bigger portion of their paychecks on premiums, and the increase is far outpacing the rise in wages. (Fri, 02 May 2008 11:38:23 GMT)
Dogs of War: Insurance? What insurance?
By DAVID ISENBERGWASHINGTON, May 2 (UPI) -- Life in Iraq for private military contractors is dangerous. If they get killed their dependents in theory get insurance but there will be no letters from a military commander of the president, commending them for their service to the country. No chaplain shows up at their door to offer consolation. (Fri, 02 May 2008 22:01:21 GMT)
Buffett's Berkshire Says Profit Declines on Insurance (Update2)
May 2 (Bloomberg) -- Billionaire Warren Buffett 's Berkshire Hathaway Inc. said first-quarter profit declined 64 percent as falling rates reduced returns from insurance operations. The company had $991 million in investment losses as it marked down the value of derivative contracts. (Fri, 02 May 2008 22:38:08 GMT)
PMA Insurance Group Follows Vendor to Java-Based Platform
PMA Insurance Group weighed ease of use, the merits of a single reporting platform and cost-effectiveness in deciding whether to follow Hyperion's migration to a Java-based platform. (Sat, 03 May 2008 04:10:49 GMT)
Buffett's Berkshire Says Net Declines on Insurance, Derivatives
May 3 (Bloomberg) -- Billionaire Warren Buffett 's Berkshire Hathaway Inc. said profit plunged 64 percent to the lowest since 2005 as falling rates cut returns from insurance operations and the company marked down the value of derivative contracts. (Sat, 03 May 2008 04:23:18 GMT)
La. takes insurance agent's license
A Lacombe-area insurance agent was stripped of her licenses and fined $5,000 for allegedly pocketing premiums meant for insurers, the Louisiana Department of Insurance announced Friday. (Sat, 03 May 2008 05:44:01 GMT)
Florida Legislature passes plan for autism insurance coverage
In dramatic fashion, the Florida Legislature voted Friday to mandate insurance coverage for children with autism, in a political cliffhanger that produced a frantic finish to the 2008 legislative session. (Sat, 03 May 2008 07:19:48 GMT)
Traveller battles with insurance company
After buying a deluxe travel insurance policy, Sheila Gerlock thought she was covered for anything that might derail her travel plans. She was wrong. "The insurance company refused to pay. (Sat, 03 May 2008 08:40:39 GMT)
Fukuda's Approval Rating Drops to Lowest on Gasoline, Insurance
May 3 (Bloomberg) -- Japanese Prime Minister Yasuo Fukuda 's approval rating fell to its lowest, with more than 70 percent of voters saying they disapproved of the reintroduction of gasoline taxes and a new insurance system that collects premiums from the elderly, according to a newspaper survey. (Sat, 03 May 2008 08:45:23 GMT)
$66.2B budget will roll out Crist's health-insurance plan
The Florida Legislature skidded to the finish line of the 2008 session Friday, approving a $66.2 billion budget, help for children with autism, and a sweeping health-insurance plan sought by Gov. Charlie Crist. (Sat, 03 May 2008 09:46:26 GMT)
Hospital shuts unit, revamps insurance
NIAGARA FALLS — The city hospital on Friday announced a new health insurance plan for children and their families who don't have coverage, on the same day it closed a unit for mentally ill children and adolescents. (Sat, 03 May 2008 10:51:52 GMT)
Home-Insurance Credits
Homeowners often don't take time to reassess home-insurance coverage when it's time to pay the premium. But with many Americans looking for ways to save a buck these days, examining that paperwork could pay off. (Sun, 04 May 2008 03:33:59 GMT)
Covered by employer health insurance, but still feeling the pinch
Many of the 158 million people covered by employer health insurance are struggling to meet medical expenses that are much higher than they used to be. (Sun, 04 May 2008 04:36:19 GMT)
Is credit-card insurance a smart move or a pricey mistake?
Many banks offer a variety of insurance protection, along with their credit cards, including loss protection and credit life, disability or involuntary unemployment insurance. However, all of these services come at a cost. Do your homework to help you decide whether you need or can afford the coverage. (Sun, 04 May 2008 06:46:35 GMT)
Health insurance for 20-somethings
About one in five adults age 19 to 29 don't have health insurance. If you fall in that category, you might think you don't need the extra expenditure — after all, you're a young, strapping specimen of good health. But you're not invincible. (Sun, 04 May 2008 07:21:07 GMT)
Health-care costs hitting even those with insurance
The economic slowdown has swelled the ranks of people without health insurance. Higher premiums and bigger co-payments bring medical costs up. (Sun, 04 May 2008 07:26:12 GMT)
Want to Save 35 Percent on Insurance?
(ARA) - Next to housing and transportation, your biggest expense is likely insurance. According to the latest Consumer Expenditure Survey released by the Bureau of Labor Statistics of the U.S. Department of Labor, the average American spends 7.9 percent of their income protecting what they have. (Sun, 04 May 2008 09:05:17 GMT)
Are You Over Paying for Homeowners Insurance?
(ARA) - Homeowners will shop around for appliances, furniture and other necessities to get the best price for the best product. But one necessity that often goes overlooked is home insurance. (Sun, 04 May 2008 09:25:46 GMT)
Even people with health insurance feel pain of rising costs
The economic slowdown has swelled the ranks of people without health insurance. Now it is threatening millions of people who have insurance but find that the coverage is too limited or that they cannot afford their own share of medical costs. (Sun, 04 May 2008 10:04:09 GMT)
Province called on to drop insurance tax
With auto insurance premiums anticipated to rise this year, the Alberta director of the Canadian Taxpayers Federation is calling on the province to cushion the blow by scrapping a 3% hidden sales tax. (Sun, 04 May 2008 10:27:51 GMT)
Mr Justice Consumer Advice: Double trouble over insurance
WISH you were here, wish you were here. Ann and John Storey asked for my help when Norwich Union bungled payment of their holiday insurance policy. (Sun, 04 May 2008 10:39:28 GMT)
Insurance Australia Faces Deadline on QBE's $7.6 Billion Offer
May 5 (Bloomberg) -- Insurance Australia Group Ltd. , the auto and home insurer that's posted three straight years of declining profits, may have its last chance today to accept QBE Insurance Group Ltd.'s A$8.18 billion ($7.6 billion) takeover proposal. (Sun, 04 May 2008 22:15:30 GMT)
Buffett eyes Royal Bank of Scotland insurance unit
OMAHA, Neb. (MarketWatch) -- Berkshire Hathaway will consider investing in the insurance business of U.K. banking giant Royal Bank of Scotland and is close to buying a medium-sized company in the country, Chairman Warren Buffett said Sunday. (Sun, 04 May 2008 23:38:29 GMT)
Bankinter offers to buy RBS stake in insurance JV: report
LONDON (MarketWatch) -- Spain's Bankinter SA (BKT.MC) has offered to buy Royal Bank of Scotland Group PLC's 50% stake in the banks' insurance joint venture, Linea Directa, the Sunday Times reported, without citing its sources. The Linea Directa stake is up for sale as part of RBS' planned sale of its insurance business. The proposed deal would value the joint venture at up to GBP700 million, the ... (Mon, 05 May 2008 03:26:34 GMT)
Gainesville insurance agency going regional
A Gainesville insurance firm, specializing in offering insurance through residential real estate agencies in metro Atlanta, has inked a deal in Alabama and plans to become a regional company. (Mon, 05 May 2008 04:32:18 GMT)
Insurance Australia Faces Deadline on QBE's Offer (Update2)
May 5 (Bloomberg) -- Insurance Australia Group Ltd. , the auto and home insurer that's posted three straight years of declining profits, may have its last chance today to accept QBE Insurance Group Ltd.'s A$8.2 billion ($7.7 billion) takeover proposal. (Mon, 05 May 2008 06:45:55 GMT)
QBE Allows Offer for Insurance Australia to Expire (Update1)
May 5 (Bloomberg) -- QBE Insurance Group Ltd., Australia's biggest property and casualty insurer, let its A$8.2 billion ($7.7 billion) takeover proposal for Insurance Australia Group Ltd. (Mon, 05 May 2008 08:45:31 GMT)
Insurance costs may flood county residents
If Julie Pollock had ever heard of a flood in Foster City, she would not be balking at the prospect of being required to buy flood insurance for her home. (Mon, 05 May 2008 10:17:48 GMT)
Buffett's Berkshire Looking at Royal Bank of Sctoland's Insurance Unit
Warren Buffett said Sunday his Berkshire Hathaway Inc. insurance and investment company may be "close" to buying a medium-sized British company and "will look" at Royal Bank of Scotland Plc's possible (Mon, 05 May 2008 10:44:33 GMT)
South Africa: Poor May Get Insurance Under New Proposals
PROPOSALS to reform micro-insurance regulation could make it easier for insurers to serve low-income households, Doubell Chamberlain of FinMark Trust and director of the Centre for Financial Regulation and Inclusion said last week. (Mon, 05 May 2008 11:52:58 GMT)
Berkshire Hathaway Net Off 64% on Derivatives, Insurance
Warren Buffett's Berkshire Hathaway Inc. said Friday that first- quarter profit tumbled 64 percent, hurt by losses tied to derivatives contracts and a steep slide in insurance premiums. Net income (Mon, 05 May 2008 12:59:13 GMT)
Oklahoma: Lawmaker blocks insurance mandate bills
A state lawmaker who has blocked legislation that would require health insurers to cover a variety of medical procedures and conditions has accepted thousands of dollars in donations from individuals or political action committees with ties to the insurance industry, records show. (Mon, 05 May 2008 18:59:31 GMT)
Buffett Weighs RBS Insurance Bid
Berkshire Hathaway's CEO looks into buying the insurance businesses that credit-crisis-hit Royal Bank of Scotland has put up for sale (Mon, 05 May 2008 22:44:39 GMT)
QBE Extends A$8.2 Billion Bid for Insurance Australia (Update1)
May 6 (Bloomberg) -- QBE Insurance Group Ltd. , Australia's largest property and casualty insurer, extended its A$8.2 billion ($7.7 billion) takeover proposal for Insurance Australia Group Ltd. by two weeks. It didn't change the terms of the offer. (Tue, 06 May 2008 00:50:56 GMT)
Dogs of War: Insurance? What insurance?
Dogs of War: Insurance? What insurance? by David Isenberg Washington (UPI) May 2, 2008 Life in Iraq for private military contractors is dangerous. (Tue, 06 May 2008 01:50:34 GMT)
Singapore life insurance premiums rise 53 pct in Q1
SINGAPORE, May 6 - Life insurers in Singapore reported a 53 percent rise in new premiums during the first quarter of 2008, according to data from the Life Insurance Association on Tuesday. (Tue, 06 May 2008 05:23:08 GMT)
As car insurance rates rise, try these money-saving tips
As the price of gas accelerates toward $4 a gallon, perhaps it's time to think about another painful cost of driving: auto insurance. (Tue, 06 May 2008 06:33:58 GMT)
QBE Extends $7.7 Billion Bid for Insurance Australia (Update3)
May 6 (Bloomberg) -- QBE Insurance Group Ltd. extended its A$8.12 billion ($7.7 billion) offer for Insurance Australia Group Ltd. a second time, keeping alive a bid to dominate the nation's market for insuring everything from homes to workplace injuries. (Tue, 06 May 2008 06:46:23 GMT)
China Merchants Bank to take stake in insurance company
China Merchants Bank (CMB) said on Monday that it would buy a stake in CIGNA & CMC Life Insurance Co. to expand its insurance business. CMB, the country's largest credit card issuer, said that it had signed an agreement with Shenzhe ... (Tue, 06 May 2008 09:10:07 GMT)
Iran Insurance Report Q1 2008 Explains How Iran is an Unattractive Insurance Market For Foreign Insurers
Research and Markets (http://www.researchandmarkets.co has announced the addition of "Iran Insurance Report Q1 2008" to their offering. (Tue, 06 May 2008 10:55:00 GMT)
Instant Life Insurance Quotes Provide Peace of Mind
(ARA) - Life can be unpredictable. As you plan for the future, it's a good idea to have all your financial bases covered. One thing that can provide some peace of mind: a life insurance policy. (Tue, 06 May 2008 11:56:55 GMT)
Flood insurance renewal wins Senate test vote
A bill to renew the National Flood Insurance Program (NFIP) passed a key test vote in the Senate on Tuesday, with aides saying they expected final action on the legislation before the end of the week. (Tue, 06 May 2008 20:27:38 GMT)
Insurance: Big Risks, Big Payoffs
To some investors, pumping money into a new Florida insurance company must be as attractive as investing in Florida real estate right now. The potential upside is great, but you also might fall off a cliff. (Wed, 07 May 2008 04:19:52 GMT)
India Plans to Ease Insurance Investment Rule, Chidambaram Says
May 7 (Bloomberg) -- India's government will try to win agreement from coalition allies to ease restrictions on foreign investments in insurance, banking and pensions in its final year in office, Finance Minister Palaniappan Chidambaram said. (Wed, 07 May 2008 07:15:48 GMT)
RUTH TO THE RESCUE: Verify a contractor's insurance coverage
If you're hiring a contractor to do work at your home, the Better Business Bureau reminds you to ask for the name of the contractor's insurance company and insurance agency. (Wed, 07 May 2008 07:33:17 GMT)
Maybank, IDB eye global lead in Islamic insurance
KUALA LUMPUR, May 7 - Malaysia's top lender Malayan Banking and the commercial arm of the Jeddah-based Islamic Development Bank plan to start a global takaful or Islamic insurance business, the Malaysian bank said on Wednesday. (Wed, 07 May 2008 11:14:17 GMT)
Senate Approves State Health Insurance Pooling Bill
The Senate voted early today to give final legislative approval to a Democratic bill permitting municipalities, nonprofits and small businesses to join the state employee health insurance pool. (Wed, 07 May 2008 11:48:22 GMT)
Senate Advances Renewal of Flood Insurance without Wind Coverage
A bill to renew the National Flood Insurance Program (NFIP) passed a key test vote in the U.S. Senate Tuesday, with aides saying they expected final action on the legislation before the end of the wee (Wed, 07 May 2008 12:29:22 GMT)
EnsurApet Joins Other Leading Companies in the Pet Insurance Industry
EnsurApet, Inc. (OTCBB:EPTI), a provider of pet health insurance, is poised to become one of the leaders in the largely untapped yet rapidly growing US market for pet health insurance by combining two proven business strategies of owning its own Property Casualty Insurance Company together with a network of veterinary hospitals. (Wed, 07 May 2008 12:45:11 GMT)
2nd stage of insurance plan for pvt. sector 'ready’
DUBAI - The second stage of the comprehensive Dubai Health Insurance plan for the private sector is being readied for its launch, according to senior health officials. (Wed, 07 May 2008 12:45:40 GMT)
Lifesaving coronary test generally not covered by insurance, GHS officials say
A test now used to diagnose coronary heart disease also could be used to screen people who don't have any symptoms and possibly save lives, but it's not generally covered by insurance, the Greenville Hospital System board of trustees learned today. (Wed, 07 May 2008 12:48:58 GMT)
Georgia gov signs bills to ease health insurance access
Gov. Sonny Perdue on Wednesday signed a pair of bills aimed at making high-deductible health insurance plans more accessible to Georgians. (Wed, 07 May 2008 22:16:38 GMT)
Perdue signs high-deductible insurance plan bill
Insurance companies gained millions of reasons on Wednesday to offer high-deductible health insurance plans as Gov. Sonny Perdue signed legislation aimed at making the plans more affordable and more widely available. (Thu, 08 May 2008 02:32:28 GMT)
Michigan: Insurance Ruling
Local governments and state universities cannot offer health insurance to the partners of gay workers, the State Supreme Court ruled. The court ruled 5 to 2 that Michigan?s 2004 ban against same-sex marriage also blocks domestic-partner policies affecting gay employees at the University of Michigan and other public-sector employers. The decision affirms a February 2007 appeals court ruling. Up ... (Thu, 08 May 2008 04:31:48 GMT)
Critics doubt insurance bill will slash costs
Small businesses would be able to join together in co-operatives to buy health insurance under a bill on its way to Gov. Phil Bredesen's desk for signature, but some observers doubt whether it would lead to significantly lower costs or more coverage for uninsured workers. (Thu, 08 May 2008 07:28:29 GMT)
Wind not covered by flood insurance
A Gulf Coast-backed effort to add wind coverage to the National Flood Insurance Program was defeated Wednesday in the Senate amid concerns... (Thu, 08 May 2008 07:38:42 GMT)
HSBC's Indian insurance JV gets regulatory nod
MUMBAI, May 8 - Canara HSBC Oriental Bank of Commerce Life Insurance Co Ltd said on Thursday it has got the licence to operate in India from the Insurance Regulatory and Development Authority. (Thu, 08 May 2008 09:51:50 GMT)
Give your hurricane insurance a checkup
and it's once again predicted to be above average -- begins June 1. That means it's time to check your homeowners-insurance policy to determine whether you have enough coverage for damages that might occur during a major storm, and if you find any problems to contact your agent to make changes. (Thu, 08 May 2008 09:57:40 GMT)
Rell Cool To Expansion Of State Worker Insurance Pool
Gov. M. Jodi Rell expressed strong reservations Wednesday about a Democratic bill that would permit municipalities, nonprofits and small businesses to join the state employee health insurance pool. (Thu, 08 May 2008 11:18:21 GMT)
'Errors' in insurance price sites
Some insurance comparison websites give incorrect information, a probe by watchdog the FSA finds. (Thu, 08 May 2008 12:02:09 GMT)
Senate rejects federal windstorm insurance
WASHINGTON — The Senate overwhelmingly rejected an effort Wednesday to expand the federal flood insurance program to also cover windstorm damage. (Thu, 08 May 2008 12:30:06 GMT)
Shopping for the best business insurance policy
Dear FSB: How do we go about getting insurance for our business? We own an office services company. (Thu, 08 May 2008 13:32:14 GMT)
Lawsuit accuses couple of murder, insurance scam
The family of an Arlington Heights man said to have been slain in a bizarre insurance scam filed a civil suit Thursday against the alleged killer and his wife seeking an unspecified amount in damages for wrongful death and conspiracy, according to court documents. (Fri, 09 May 2008 00:42:18 GMT)
Hard Sell to Medicare Insurance Buyers Would Get Softer Under New Rules
The Bush administration proposed on Thursday to crack down on the aggressive marketing of private Medicare insurance plans. (Fri, 09 May 2008 03:28:05 GMT)
Cape owners avoid big hike in insurance
Tens of thousands of homeowners on Cape Cod were spared a second straight 25 percent increase in insurance premiums after a state regulator yesterday rejected an insurance association's request for double-digit rate hikes. (Fri, 09 May 2008 06:33:37 GMT)
Apollo DKV Insurance to invest 5 bln rupees in India
MUMBAI, May 9 - Health insurer Apollo DKV Insurance Co. (Fri, 09 May 2008 07:29:09 GMT)
Insurance pitches targeted
WASHINGTON - Agents selling private health insurance plans to the elderly and disabled would be barred from cold calling, door-to-door solicitations, and pitching their products near hospital waiting rooms or pharmacies under a federal rule proposed yesterday. (Fri, 09 May 2008 08:35:01 GMT)
China's Ping An Insurance says holding off on new Shanghai A-share issue to volatile markets
China's second-largest insurer, Ping An Insurance, says it will not pursue a plan to issue new yuan-denominated shares on the Shanghai Stock Exchange for at least six months given current turbulent market conditions. (Fri, 09 May 2008 10:52:00 GMT)
Weymouth does not have enough money to pay health insurance costs
An audit from Weymouth’s insurer reveals the town will need $2.4 to $3.4 million to cover health insurance costs for its employees this year (Fri, 09 May 2008 11:31:11 GMT)
N.H. governor nominates insurance commissioner
Gov. John Lynch has nominated Insurance Commissioner Roger Sevigny to serve another term. Sevigny of Manchester was appointed to the post by Republican Gov. Craig Benson in 2003. (Fri, 09 May 2008 12:23:55 GMT)
Insurance sales abuses targeted
Federal proposal aims to protect Medicare users from pressure to buy added products Agents selling private health insurance to the elderly and disabled would be barred from cold-calling, door-to-door solicitations and pitching their products outside hospital waiting rooms or pharmacies, under a federal rule proposed yesterday. (Fri, 09 May 2008 12:32:54 GMT)
When Modifying Vehicles, Upgrade the Insurance
If you own a car with a custom paint job or other modifications, be sure your insurance offers coverage. (Sat, 10 May 2008 05:03:03 GMT)
Insurance reps say most damage should be covered INSURANCE TIPS
Insurance agents say most storm damage should be covered; water damage may be tricky if homeowners and renters don't have flood coverage (Sat, 10 May 2008 06:25:43 GMT)
Insurance rate could see shift
McHENRY – The McHenry Public Library could see dramatic changes in its employee health-insurance costs depending on whether leaders go with a new plan. (Sat, 10 May 2008 06:35:25 GMT)
Davis gets $1.5M break on worker insurance costs
Thanks to a little friendly competition, Davis County will get a break on insurance costs for its employees over the next year. (Sat, 10 May 2008 07:02:38 GMT)
Gutierrez construction firm didn't pay state insurance premiums
Columbus- While Anthony Gutierrez was pulling down $87,485 a year as a manager on Ohio Attorney General Marc Dann's payroll, his Youngstown-area construction firm wasn't paying its state workers' injury insurance premiums, according to state officials. (Sat, 10 May 2008 08:47:11 GMT)
Employers lobby to change injured-worker insurance system
A group of Ohio employers who say their businesses are being crushed by injured-worker insurance rates that the state tried to fix last year has asked the Ohio Inspector General to take a second look at the program. (Sat, 10 May 2008 09:25:09 GMT)
WB choses insurance companies for RSBY
The West Bengal government has shortlisted two nationalised insurance companies along with ICICI Prudential Life insurance for launching the Rashtriya Swasthya Bima Yojna (RSBY) in four districts of the state. (Sat, 10 May 2008 10:37:09 GMT)
How Much Should You Pay for Auto Insurance?
(ARA) - How much does the average person pay for auto insurance? Probably more than they would like. Often the bill just gets accepted as a necessity and we simply write out a big check each month. (Sat, 10 May 2008 12:02:27 GMT)
Midland woman sentenced in insurance fraud case
A Midland woman who was charged with insurance fraud and embezzlement while employed at an insurance agency has been sentenced. (Sat, 10 May 2008 12:17:29 GMT)
Young widower pushes for change in Mass. life insurance law
When Jenny and John Crowley learned they were having a baby, they did the responsible thing: they bought life insurance. (Sat, 10 May 2008 17:35:39 GMT)
Japan Opposition Wants Medical Insurance Law Scrapped, NHK Says
May 11 (Bloomberg) -- Japanese opposition parties will submit a bill later this month to abolish a new medical insurance law targeting people aged 75 years and older, an opposition party politician said in a NHK program. (Sun, 11 May 2008 05:40:47 GMT)
Al Khazna Insurance buys 15% of Saudi Arabia's Sanad
Al Khazna Insurance Company announced on Saturday it had acquired a 15% stake in Saudi Arabia's Sanad for Co-operative Insurance and Reinsurance. (Sun, 11 May 2008 06:29:49 GMT)
A will covers bases that insurance leaves empty
Last week I answered one of two questions from a 20-something married couple with a new baby. They don't have a lot of extra money and a financial planner suggested they purchase a life insurance policy within which they would invest in mutual funds. (Sun, 11 May 2008 06:42:00 GMT)
Insurance fraud lands glass repairman in prison
A Chandler auto glass repairman learned Friday he will spend a year and a half in prison for defrauding multiple insurance companies out of more than $100,000. (Sun, 11 May 2008 07:22:14 GMT)
Health insurance making you sick?
Does your health insurance pay much less for your medical care that it used to, leaving you to pay more? (Sun, 11 May 2008 08:52:06 GMT)
Here's a Quick and Easy Way to Find High Quality, Low Cost Health Insurance
(ARA) - As we approach the end of another year, now is a good time to take a close look at household expenses to see if there are places you can cut back and save. If you're like most people, one of your biggest areas of concern is what you're paying for health insurance. (Sun, 11 May 2008 10:32:21 GMT)
Insurance rate could see shift
McHENRY – The McHenry Public Library could see dramatic changes in its employee health-insurance costs depending on whether leaders go with a new plan. (Sun, 11 May 2008 11:44:23 GMT)
Midland woman sentenced in insurance fraud case
A Midland woman who was charged with insurance fraud and embezzlement while employed at an insurance agency has been sentenced. (Sun, 11 May 2008 11:46:03 GMT)
How to Save Money on Auto Insurance
(ARA) - Shopping online is an incredibly efficient way to explore different auto insurance options. Instead of sitting on the phone with agents or filling out forms on various Web sites, you provide information just once and get a variety of quotes instantly, saving you time and money. (Sun, 11 May 2008 12:47:17 GMT)
Too much networking can hurt: My Biggest Mistake, by Laura Mutsko of Mutsko Insurance Services
You hear it all the time: You need to network. I agree. But you can get caught up in it, especially when you're new in business. I started an insurance company targeting the senior market a couple of years ago. I love it because they're a great group to work with. I learn from seniors every day. (Mon, 12 May 2008 04:08:46 GMT)
Health insurance changes will fuel inflation: Opposition
The Federal Opposition says the changes to private health insurance in tomorrow's Budget will be inflationary. (Mon, 12 May 2008 05:05:00 GMT)
State insurance program to borrow $250M from Citizens
TALLAHASSEE -- A state program that helps build capital for Florida insurers now depends entirely on Citizens Property Insurance Corp. and the odds of hurricane damages before December. (Mon, 12 May 2008 05:17:51 GMT)
CGI Wins $115m Contract From Home Insurance Provider
IT and business process services provider CGI has won a 10-year $115m contract from Key Biscayne, Florida-based residential insurance company Magnolia Insurance to provide back-office services including policy administration, billing and accounting, claims administration, statistical reporting, and statutory accounting services. (Mon, 12 May 2008 05:44:01 GMT)
In wake of Midwest temblor, Johnston ponders quake insurance
It’s not that Johnston officials are shaking over the possibility of an earthquake. But with the two tremors this spring in Illinois and Missouri, city leaders think it’s prudent to consider buying earthquake insurance, which some other Iowa cities already have. (Mon, 12 May 2008 09:15:17 GMT)
UK's FSA Examines Insurance Comparison Web Sites; ABI Comments
The UK's Financial Services Authority is assessing the insurance comparison web site market, after it "found evidence of both good and bad practice." In fact the FSA said it would be "looking for all (Mon, 12 May 2008 09:22:57 GMT)
Insurance / In Depth Interviews
The Mexican insurance unit of Spain's BBVA ranks fifth among the country's insurers by written premiums, but manages to lead profitability indicators. While the insurance industry ended 2007 with combined operating losses, Seguros BBVA Bancomer made US$130mn in operating profits for the year. (Mon, 12 May 2008 09:30:43 GMT)
Johnson signals support for social care insurance
Alan Johnson today signalled his support for a new form of social care insurance as he launched a national debate on future support services for the elderly (Mon, 12 May 2008 11:12:58 GMT)
How Much Should You Pay for Auto Insurance?
(ARA) - How much does the average person pay for auto insurance? Probably more than they would like. Often the bill just gets accepted as a necessity and we simply write out a big check each month. (Mon, 12 May 2008 12:20:35 GMT)
Young widower pushes for change in Mass. life insurance law
ASHLAND, Mass. -- When Jenny and John Crowley learned they were having a baby, they did the responsible thing: they bought life insurance. (Mon, 12 May 2008 12:39:43 GMT)
Allstate Insurance to refund Texas customers $51.6 million
AUSTIN – Allstate Insurance agreed Monday to refund $51.6 million to its Texas customers for overcharges in homeowners insurance, but the company will not have to return another $19.2 million in overcharges under a settlement with state regulators. (Tue, 13 May 2008 01:24:16 GMT)
State Bank of India,Australia's IAG in insurance JV
MUMBAI, May 13 - State Bank of India , the country's top lender, said on Tuesday it has signed a memorandum of understanding with Insurance Australia Group for general insurance. (Tue, 13 May 2008 04:30:26 GMT)
Pawlenty OKs flood insurance measure
Insurance companies and agents must notify homeowners each year if their insurance policy does not include flood insurance under a bill signed Monday by Gov. Tim Pawlenty. (Tue, 13 May 2008 05:21:30 GMT)
Popularity of travel insurance grows
Question: My wife and I are planning a dream trip. Do you think it's a good idea to buy travel insurance? Answer: Everyone hopes their trip of a lifetime doesn't turn into a disaster, but life has a way of throwing curve balls. (Tue, 13 May 2008 05:37:59 GMT)
State Bank of India, Australia's IAG in insurance JV
MUMBAI (Reuters) - State Bank of India, the country's top lender, and Insurance Australia Group have signed a memorandum of understanding for a general insurance venture to tap the fast-growing Indian market, the firms said on Tuesday. (Tue, 13 May 2008 06:37:04 GMT)
Ministers look at social care insurance as costs rise
People may have to pay into a social insurance scheme towards costs of care in old age (Tue, 13 May 2008 08:12:48 GMT)
Brit Insurance appoints active underwriter
Brit Insurance Holdings has appointed Jonathan Turner as active underwriter of Syndicate 2987. (Tue, 13 May 2008 08:15:33 GMT)
Lancaster insurance agent surrenders his license
LANCASTER -A Lancaster insurance agent who allegedly misappropriated money and falsified an insurance document has surrendered his resident insurance license to the Ohio Department of Insurance. (Tue, 13 May 2008 10:44:10 GMT)
Instant Life Insurance Quotes Provide Peace of Mind
(ARA) - Life can be unpredictable. As you plan for the future, it's a good idea to have all your financial bases covered. One thing that can provide some peace of mind: a life insurance policy. (Tue, 13 May 2008 11:16:56 GMT)
Council will take up question of insurance
The hottest topics in the last 24 hours. The next step in the lawsuit regarding the city providing health insurance to its elected officials is before those officials today. (Tue, 13 May 2008 11:28:51 GMT)
Senate approves renewal of flood insurance program
The Senate agreed Tuesday to write off — and hand over to taxpayers — more than $17 billion in debt that a FEMA flood insurance program accumulated after being devastated by Katrina and other 2005 hurricanes. (Tue, 13 May 2008 16:31:50 GMT)
Marshall Loeb's Daily Money Tip: Why you should consider purchasing renters insurance
With so many college graduates migrating from the dorms this month, one item they may neglect in their move to the real world is a critical one: renters insurance. Renters insurance is an often ignored insurance that covers everything from personal property to personal liability. (Tue, 13 May 2008 23:34:57 GMT)
Road Home slows insurance claim payoffs
Richard Barker reached a $60,000 settlement for wind damage on a home near Six Flags on Dec. 12, but his eastern New Orleans client hasn't seen a dime of the insurance money five months later because the Road Home hasn't signed off on the paperwork. (Wed, 14 May 2008 02:57:07 GMT)
RBS Spurns Private Equity From Insurance Business Bids, FT Says
May 14 (Bloomberg) -- Royal Bank of Scotland Group Plc has told private equity firms they can't participate in the first round of the bank's 7 billion pound ($13.62 billion) auction of its insurance business, the Financial Times reported. (Wed, 14 May 2008 03:19:32 GMT)
Perris business sells Mexican auto insurance online
What's new: Mexican Insurance Store.com in Perris is celebrating its sixth year this month. (Wed, 14 May 2008 05:35:47 GMT)
Firms on board with insurance fund despite Crist's opposition
Two major investment firms will advise Florida on financing its hurricane catastrophe insurance fund although Gov. Charlie Crist tried to exclude them Tuesday. (Wed, 14 May 2008 07:18:46 GMT)
Pegasystems Launches Industry's First Contact Center Solution Specifically Designed for the Insurance Industry
With the launch today of the first comprehensive contact center solution designed expressly for the insurance industry, Pegasystems (NASDAQ: PEGA - News) once again demonstrates its leadership in providing Business Process Management (BPM) solutions that address industry challenges. (Wed, 14 May 2008 10:53:29 GMT)
Smart earns top crash scores in insurance industry tests
WASHINGTON - The 2008 Smart fortwo micro car, the smallest car for sale in the U.S. market, has earned top scores in crash tests conducted by the insurance industry. (Wed, 14 May 2008 11:14:10 GMT)
Aspen Insurance to buy back $100M worth of shares
Aspen Insurance Holdings Ltd. said Wednesday it agreed to repurchase $100 million worth of shares from management fund Candover Partners Limited and Candover's employee trust. (Wed, 14 May 2008 11:45:03 GMT)
Rao retires as insurance regulatory body chief
'A fair and firm regulator' is the how insurance industry officials describe Chellapilla Satyanarayana Rao, chairman, Insurance Regulatory and Development Authority (IRDA) who lay down office Wednesday. (Wed, 14 May 2008 11:50:30 GMT)
Oracle To Buy Insurance Software Maker
InformationWeek - Oracle plans to make AdminServer's software a core component of its existing insurance-related products, such as Oracle Billing, Siebel Claims, and Siebel Customer Relationship Management for Insurance. (Wed, 14 May 2008 17:09:00 GMT)
US probing Iraqi companies for insurance fraud
Companies working on Iraq reconstruction have been accused of padding their profits through an insurance scam, leading to a criminal probe and hurried changes in the way many contracts are handled by the U.S. Army, according to internal military documents obtained by The Associated Press. (Wed, 14 May 2008 20:40:46 GMT)
Insurance fraud? Iraqi companies probed
Companies working on Iraq reconstruction have been accused of padding their profits through an insurance scam, according to internal military documents obtained by The Associated Press. (Wed, 14 May 2008 23:20:21 GMT)
FBI seizes records tied to Lubbock insurance dispute
Two days before Lubbock changes mayors, FBI agents seized documents Wednesday from the city of Lubbock related to its long-running insurance dispute with Ted Parker's American Administrative Group. (Thu, 15 May 2008 09:38:13 GMT)
Recovering damages: Tips for homeowners-insurance fire claims
Question: Will my insurance company pay to repair or rebuild my home? (Thu, 15 May 2008 09:56:35 GMT)
Nelson targets petrol, health insurance in reply
Opposition Leader Brendan Nelson has promised to overturn the Government's tax increase on pre-mixed alcohol and to scrap the changes to private health insurance. (Thu, 15 May 2008 10:04:00 GMT)
Nelson targets petrol, health insurance in reply
Opposition Leader Brendan Nelson has promised to overturn the Government's tax increase on pre-mixed alcohol and to scrap the changes to private health insurance, in his Budget reply speech tonight. (Thu, 15 May 2008 10:30:33 GMT)
N.J. Lawmakers Weighing Health Insurance Proposal
All New Jersey children would have to have health insurance and all taxpayers would have to annually prove they have health insurance under a proposal to be weighed for the first time Thursday by senators. (Thu, 15 May 2008 11:08:46 GMT)
Insurance Industry Embraces Iontas' Focus Software Suite For Six Sigma Initiative
Iontas reported today that a large U.S. Life Insurance company has purchased all three products in the Focus software suite: Process Focus, Activity Focus, and Event Focus. (Thu, 15 May 2008 12:23:47 GMT)
No fee required: Chiropractor eliminates need for insurance, works on honor system
TANEYTOWN - No appointment? No insurance card? No problem. A few chiropractors in Maryland, and about two dozen chiropractors across the country, run their business using an honor fee system. (Thu, 15 May 2008 12:39:50 GMT)
Panel says contractors, insurance firms gouging taxpayers
A House panel says a Pentagon program for providing civilian employees in Iraq and Afghanistan with workman's compensation has allowed defense contractors and insurance companies to gouge American taxpayers. (Thu, 15 May 2008 14:40:18 GMT)
Contractors, insurance firms gouging taxpayers, panel says
A poorly run Pentagon program for providing workman's compensation for civilian employees in Iraq and Afghanistan has allowed defense contractors and insurance companies to gouge American taxpayers, a House committee said Thursday. (Thu, 15 May 2008 18:28:52 GMT)
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