Insurance News May 2008
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Getting the right home insurance
If the wildfires in Florida have you thinking about whether you have enough insurance for your home, here are some top tips on how you can protect your home when disaster strikes. (Thu, 15 May 2008 20:43:46 GMT)
China Earthquake $20 Billion Damages Expose an Insurance Abyss
May 16 (Bloomberg) -- The most powerful earthquake in China since 1950 shows the nation's insurance industry is decades behind those of the world's biggest economies. (Fri, 16 May 2008 01:57:50 GMT)
Buffett pulls out of RBS insurance sale: report
Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has pulled out of the bidding in Royal Bank of Scotland's 7 billion pound ($13.62 billion) auction of its UK insurance business, the Financial Times reported on Friday. (Fri, 16 May 2008 06:06:06 GMT)
A bad credit score can cost consumers on insurance
Consumers with higher credit scores have an easier time getting insurance and may pay lower premiums than consumers who have low credit scores. It's a known but unsettling fact for some consumers, especially during tough economic times. (Fri, 16 May 2008 08:15:16 GMT)
Plan to mandate health insurance for NJ kids advances
A plan to mandate health insurance for all New Jersey children and expand coverage for some parents, the first step in an attempt to bring universal health care to the state, began working its way through the Legislature Thursday. (Fri, 16 May 2008 09:38:15 GMT)
Chordiant Announces Innovative Self-Service Solution for Insurance
Chordiant Software, Inc. (Nasdaq:CHRD - News), the leading provider of Customer Experience (Cx™) software and services, today announced a significant new capability for insurance providers. (Fri, 16 May 2008 12:08:41 GMT)
The Watchdog: Hunt for what you're owed in life insurance
People buy life insurance policies, lose track of them and forget to collect. (Fri, 16 May 2008 12:11:52 GMT)
Insurance Rates Are Rising, Too
If it isn't enough that gas is through the roof, insurance rates are on the rise -- but there are steps you can take to minimize the impact. (Fri, 16 May 2008 12:46:24 GMT)
State lifts ban on Allstate selling new insurance policies
Allstate Corp.'s insurance companies can resume selling new car insurance and other policies in Florida, the state's insurance regulator said Friday. (Fri, 16 May 2008 20:00:43 GMT)
New Insurance Could Reduce Borrowers' Costs
Last week, I described a proposal for a new type of mortgage insurance called mortgage payment insurance, or MPI. (Fri, 16 May 2008 20:36:23 GMT)
Fla. lifts ban on Allstate selling new insurance policies
Allstate Corp.'s subsidiaries can resume selling new car insurance and other policies in Florida after the insurer turned over documents showing how it sets homeowners rates, the state said Friday. (Fri, 16 May 2008 22:28:06 GMT)
2005 Storms May Stay On All Insurance Bills
Florida residents soon could face increased surcharges on their home, auto and other insurance policies because the state's catastrophe fund requires more money to pay claims from past hurricanes. (Sat, 17 May 2008 04:17:30 GMT)
Little insurance for damages
The most powerful earthquake in China since 1950 shows the nation's insurance industry is decades behind those of the world's other biggest economies. (Sat, 17 May 2008 07:10:54 GMT)
Why do I need mortgage insurance?
A: Private mortgage insurance, also known as PMI, is often required if your down payment is less than 20 percent of the home's purchase price. As the value of your home rises and you pay down some of the loan amount, your equity may surpass 20 percent of its value. In that case, you can apply to drop the insurance coverage. (Sat, 17 May 2008 08:51:36 GMT)
Credits can cut home insurance premiums
Premiums for homeowners insurance can be cut as much as 10 percent for those who renovate. And that's only one of the credits that can bring down the size of the bills. (Sat, 17 May 2008 09:15:32 GMT)
Amassurance Launches Insurance Products For Women (Malaysian National News Agency
KUALA LUMPUR, May 17 (Bernama) -- Insurance service provider AmAssurance Bhd aims to achieve at least 10 percent of the life new business premium target of RM77 million from its newly launched product for women, AmBeautiful. (Sat, 17 May 2008 09:24:07 GMT)
State Lifts Ban On Allstate Insurance
Florida officials say Allstate Corp.'s insurance companies can resume selling new policies in the state. (Sat, 17 May 2008 12:06:42 GMT)
When it's Smart to Comparison Shop for Auto Insurance
(ARA) - Does it seem like your auto insurance rates go up every time you sneeze, refill the gas tank or - the ultimate factor - add another driver to your policy? You're not imagining it; numerous factors influence the cost of your auto policy and many of them are simply beyond your control. (Sat, 17 May 2008 12:47:38 GMT)
Increase disaster preparedness by understanding insurance policy
None of us can ever truly be prepared for tornadoes, floods or other natural disasters. But we can take steps to reduce potential losses, including having adequate insurance. Even so, many homeowners aren’t doing enough to protect themselves. (Sun, 18 May 2008 03:31:09 GMT)
Motorists and insurance firms to benefit from electronic database
MOTORISTS in Oman not involved in traffic offences and who comply with rules can look forward to lower premiums while renewing their vehicle insurance when a pioneering electronic database jointly being set up insurance firms in the country becomes functional in eight months. (Sun, 18 May 2008 03:44:03 GMT)
Insurance fills coverage gaps
We are planning a Mediterranean cruise and can't seem to find any kind of trip-cancellation insurance. All insurance seems to be packages, which include medical insurance. We don't need such an extensive package. Do we have to buy the whole thing just to get this coverage? (Sun, 18 May 2008 07:32:32 GMT)
Road to auto insurance savings may be full of potholes
Last but not least, so the saying goes. On April 1, Massachusetts became the 50th state in the nation to allow competition among auto insurance companies, something officials claim will save residents hundreds, if not thousands of dollars a year in premiums. (Sun, 18 May 2008 10:13:27 GMT)
Zoovy Partners With U-PIC Insurance Services
Ecommerce-management firm Zoovy has formed a strategic partnership with U-PIC Insurance services. Zoovy merchants can use U-PIC, an insurance provider offering full coverage for packages shipped through most major carriers while offering substantial discounts. (Sun, 18 May 2008 11:08:02 GMT)
Insurance changes draw ire
Changes made to the Iberia Parish employee health insurance plan, including an increased deductible and the elimination of an office visit co-pay, have drawn the ire of Iberia Parish Council members who believe they were left out of the policy-making loop. (Sun, 18 May 2008 11:24:38 GMT)
Beat the High Cost of Health Insurance
(ARA) - If you've shopped for or are currently paying for health insurance, you know that consumers are paying more than ever before for their policies. But the numbers are staggering. (Sun, 18 May 2008 12:17:18 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, 18 May 2008 12:32:19 GMT)
Get Peace of Mind, Get Life Insurance
(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. (Sun, 18 May 2008 12:50:41 GMT)
Are You Over Paying for Auto Insurance?
(ARA) - We're increasingly relying on the Internet to research, find that great deal and add convenience to balance out our hectic lives. That's why more of us are looking for car insurance online. We want a company that's reliable, gives us the best rate and offers online convenience. (Sun, 18 May 2008 12:50:51 GMT)
QBE Considers Raising Bid for Insurance Australia, Review Says
May 19 (Bloomberg) -- QBE Insurance Group Ltd. is considering raising its takeover offer for Insurance Australia Group Ltd. this week as it seeks to persuade its rival to begin negotiations, the Australian Financial Review reported. (Sun, 18 May 2008 22:29:45 GMT)
QBE Raises Offer for Insurance Australia to A$8.7 Billion
May 19 (Bloomberg) -- QBE Insurance Group Ltd. increased its offer for Insurance Australia Group Ltd. to A$8.7 billion ($8.3 billion), adding more cash to its hostile bid to dominate the nation's market for insuring everything from homes to workplace injuries. (Mon, 19 May 2008 01:59:35 GMT)
QBE Raises Takeover Bid for Insurance Australia (Update1)
May 19 (Bloomberg) -- QBE Insurance Group Ltd. raised its offer for Insurance Australia Group Ltd. to A$8.7 billion ($8.3 billion), adding more cash to a hostile bid to dominate the nation's market for insuring everything from homes to workplace injuries. (Mon, 19 May 2008 02:14:37 GMT)
QBE Raises Takeover Bid for Insurance Australia (Update2)
May 19 (Bloomberg) -- QBE Insurance Group Ltd. raised its hostile offer for Insurance Australia Group Ltd. to A$8.7 billion ($8.3 billion), adding more cash to keep alive a bid to create the nation's largest home and casualty insurer. (Mon, 19 May 2008 02:59:35 GMT)
QBE Raises Insurance Australia Bid to A$8.7 Billion (Update4)
May 19 (Bloomberg) -- QBE Insurance Group Ltd. raised its hostile bid for Insurance Australia Group Ltd. for a second time, offering A$8.7 billion ($8.3 billion) to keep alive the nation's biggest insurance takeover. (Mon, 19 May 2008 04:57:50 GMT)
China Quake Reveals Lack of Insurance
The most powerful earthquake in China since 1950 shows that the nation's insurance industry is decades behind those of the world's other big economies. (Mon, 19 May 2008 08:17:07 GMT)
Health insurance's unseen points
But inside the health-insurance brokerage, it's different, according to a report in The Philadelphia Inquirer. It's obvious that chief executive Eric Raymond, 51, of Bala Cynwyd, had to own his own business. (Mon, 19 May 2008 11:08:09 GMT)
Sex workers get life insurance
SEX workers in India now have the option of taking out life insurance cover - a move they hope will speed up their bid to legalise the profession, a charity said today. (Mon, 19 May 2008 11:30:00 GMT)
Indian sex workers get life insurance
KOLKATA, India - Sex workers in India now have the option of taking out life insurance cover -- a move they hope will speed up their bid to legalise the profession, a charity said Monday. (Mon, 19 May 2008 12:04:45 GMT)
Alliant Insurance Strengthens Employee Benefits Capabilities with Strategic Acquisition of ClearPoint Consulting Firm
Alliant Insurance Services, one of the nation's largest specialty insurance brokerage firms, has announced the acquisition of Seattle, Wash.-based ClearPoint, LP, one of the largest independent benefits brokerage and consulting companies in the Pacific Northwest and a firm with a fast-growing nationwide client base. (Mon, 19 May 2008 12:26:46 GMT)
Indian sex workers get life insurance
Sex workers in India now have the option of taking out life insurance cover -- a move they hope will speed up their bid to legalise the profession, a charity said Monday. (Mon, 19 May 2008 16:10:06 GMT)
Big storm may spur insurance shortfall
The credit markets crunch could mean property insurers in Florida, and Citizens Property Insurance Corp. in particular, could have problems paying claims if a hurricane were to cause sizable damage, a major insurance rating agency said Monday. (Tue, 20 May 2008 06:55:05 GMT)
Calif. Bar Votes to Require Client Disclosure on Malpractice Insurance
If it's true that the measure of any successful compromise is that few are fully satisfied, then the California State Bar's Board of Governors cooked up a good deal on malpractice insurance. (Tue, 20 May 2008 07:02:35 GMT)
Hard work will locate lost insurance policy
A little detective work should reveal the whereabouts of a missing insurance policy, says Dr. Don Taylor. (Tue, 20 May 2008 10:00:00 GMT)
Agent accused in insurance officer's death
Charlotte-Mecklenburg police charged Michael Arthur Howell with murder on Monday even though they hadn't found the body of Sallie Rohrbach, the state examiner who disappeared last week. Rohrbach, an investigator with the N.C. Department of Insurance in Raleigh, was in Charlotte last week to conduct an audit of the Dilworth Insurance Agency, which is owned and operated by Howell, police said. ... (Tue, 20 May 2008 10:05:55 GMT)
N.J. Assembly votes to break insurance link to dogs
TRENTON - Owning a dog in New Jersey may soon have no influence on homeowner's insurance. The Assembly voted, 76-3, yesterday to approve legislation that would prohibit property and casualty insurers from altering a homeowner's insurance policy based on the type of dog kept on the property. (Tue, 20 May 2008 11:19:41 GMT)
Charlotte insurance agency owner charged in death of auditor
CHARLOTTE A Charlotte insurance agency owner charged in the death of a state insurance investigator will make his first appearance in court Tuesday afternoon. (Tue, 20 May 2008 11:47:32 GMT)
Insurance Australia Group rejects takeover offer from QBE Insurance
The board of Insurance Australia Group Ltd. said Tuesday it will not recommend to shareholders the 8.7 billion Australian dollar (US$8.4 billion; €5.3 billion) takeover proposal from rival QBE Insurance Group Ltd., terming it inadequate and opportunistic. (Tue, 20 May 2008 12:29:00 GMT)
Insurance Bill Faces Veto Threat
Gov. M. Jodi Rell is considering vetoing a major health insurance bill after one of the state's largest insurers said the bill would cost the state more than $24 million. (Tue, 20 May 2008 12:40:45 GMT)
Wachovia, Fifth Third Face Insurance Losses Tied to Hedge Funds
May 20 (Bloomberg) -- Wachovia Corp. and Fifth Third Bancorp , U.S. banks that tried to profit from taking out life insurance on their employees, now face losses because the policies held the same types of investments that led to the global credit crunch. (Tue, 20 May 2008 12:58:34 GMT)
Authorities find body near NC insurance agency
Police were trying to determine Tuesday if a body found in a wooded area was a state insurance investigator who authorities believe was killed by the owner of the agency that she was sent to audit. (Tue, 20 May 2008 21:14:03 GMT)
Insurance Australia Falls After Rejecting QBE's Offer (Update1)
May 21 (Bloomberg) -- Insurance Australia Group , the nation's largest auto and home insurer, declined in Sydney trading after it rejected an A$8.7 billion ($8.3 billion) takeover bid as too low. (Wed, 21 May 2008 00:44:42 GMT)
QBE Withdraws A$8.7 Billion Offer for Insurance Australia Group
May 21 (Bloomberg) -- QBE Insurance Group Ltd. withdrew its A$8.7 billion ($8.3 billion) offer for Insurance Australia Group Ltd. after two increases in the bid failed to sway management at the nation's largest auto and home insurer. (Wed, 21 May 2008 01:57:50 GMT)
Insurance Australia Falls After QBE Withdraws Offer (Update3)
May 21 (Bloomberg) -- Insurance Australia Group Ltd. fell the most in two months in Sydney trading after QBE Insurance Group Ltd. scrapped an A$8.7 billion ($8.3 billion) offer that was rejected by the nation's largest auto and home insurer. (Wed, 21 May 2008 07:15:09 GMT)
State insurance inspector found dead in S.C.
Sallie Rohrbach's body was found Tuesday in York County, S.C. -- a day after police charged a Charlotte insurance agent with her murder. (Wed, 21 May 2008 09:42:30 GMT)
Police find body of insurance officer
Sallie Rohrbach's body was found Tuesday in York County, S.C. -- a day after police charged a Charlotte insurance agent with her murder. The body of the 44-year-old state insurance department investigator was found in a rural area near Fort Mill. Authorities did not say how Rohrbach was killed. Charlotte-Mecklenburg police said information they received late Monday led them to search for ... (Wed, 21 May 2008 09:50:44 GMT)
Insurance that pays suspended LAPD officers comes under fire
The civilian police commission is looking into a union insurance policy that pays the salary of city police officers who have been suspended without pay. (Wed, 21 May 2008 10:36:30 GMT)
Crist to sign health insurance bill
Gov. Charlie Crist is set to sign legislation that would allow for scaled-down health insurance plans. (Wed, 21 May 2008 11:01:24 GMT)
Dubai Insurance rebrands as its focus shifts to modernization & increasing its market share
The first insurance company established in the UAE, Dubai Insurance Company psc is rebranding itself as it focuses more on modernizing its approach and increasing its market presence. (Wed, 21 May 2008 11:45:32 GMT)
Authorities find insurance investigator's body
Authorities searching a wooded area on Tuesday found the body of a North Carolina insurance investigator who prosecutors believe was killed by the owner of an agency she was auditing. (Wed, 21 May 2008 12:22:55 GMT)
Texas consumer insurance agency may vanish
The Legislature should fold the agency that represents consumers on insurance matters into the Texas Department of Insurance, a state review commission is recommending. "They do have some rationale as to why we would operate better under the department, but I think the way we operate is more effective," said Rod Bordelon, who heads the Office of Public Insurance Counsel. (Thu, 22 May 2008 05:53:49 GMT)
Bush signs bill banning job, health-insurance bias linked to genes
President Bush on Wednesday signed legislation to protect people from losing their jobs or health insurance when genetic testing reveals they are susceptible to costly diseases. (Thu, 22 May 2008 06:48:06 GMT)
Private insurers can take 100,000 policies from Citizens Property Insurance Corp.
The state Office of Insurance Regulation has approved private property insurers taking 100,000 policies from Citizens Property Insurance Corp. in June. (Thu, 22 May 2008 07:14:57 GMT)
Lawmakers tackle individual health insurance
A House-Senate work group today will begin meeting to resolve legislative differences over changes in pricing and access to the state's growing individual health insurance market, one of the more hotly contested issues before the Legislature. (Thu, 22 May 2008 08:12:57 GMT)
North Carolina Insurance investigator killed, man charged
Associated Press - May 22, 2008 4:43 AM ET CHARLOTTE, N.C. (AP) - An autopsy has failed to determine the exact cause of death of a North Carolina insurance investigator allegedly killed by the... (Thu, 22 May 2008 08:51:34 GMT)
North Carolina Insurance investigator killed, man charged
CHARLOTTE, N.C. (AP) - An autopsy has failed to determine the exact cause of death of a North Carolina insurance investigator allegedly killed by the owner of an insurance agency she was auditing. (Thu, 22 May 2008 08:53:20 GMT)
Free insurance cover for Touch 'n Go card buyers
KUALA LUMPUR: Touch 'n Go Sdn Bhd is offering motorists a personal accident (PA) insurance policy worth RM10,000 and hospital reimbursement worth RM2,000 with any purchase of its Touch 'n Go cards until the year-end. (Thu, 22 May 2008 11:17:50 GMT)
TMA Helps Businesses Calculate The Value Of Their Health Insurance Premium Dollar
Employers, what value are you getting for the health insurance premium dollars you spend each month? Fortified by a new Texas law, the Texas Medical Association (TMA) is posing that question and offering a new tool to help small-business employers determine the answer. At stake for employers and their employees are lower health insurance costs and potentially more insured Texans. (Thu, 22 May 2008 12:09:32 GMT)
US offers risk insurance for Palestinians
Thu, May 22, 2008 (5:12 a.m.) A U.S. government agency signed a political risk insurance deal with a Palestinian firm Thursday to help guarantee investments in the West Bank as part of an international effort to develop the beleaguered local economy. (Thu, 22 May 2008 12:19:04 GMT)
US offers risk insurance for Palestinians
BETHLEHEM, West Bank -- A U.S. government agency signed a political risk insurance deal with a Palestinian firm Thursday to help guarantee investments in the West Bank as part of an international effort to develop the beleaguered local economy. (Thu, 22 May 2008 12:32:25 GMT)
National City settles loan insurance case
Finance company says it will pay $4.6 million to settle charges that it sought federal insurance on expired mortgage loans. (Thu, 22 May 2008 20:28:36 GMT)
Quake insurance claims to soar
BEIJING, May 23 (UPI) -- Insurance claims related to earthquake devastation in China's Sichuan province and nearby regions are expected to hit a record, a top regulator warned. (Fri, 23 May 2008 05:38:54 GMT)
Omega Insurance Says Performance Is `In Line' With Forecasts
May 23 (Bloomberg) -- Omega Insurance Holdings Ltd. , a Lloyd's of London insurer, said 2008 trading so far is ``strong'' and ``in line'' with forecasts, helped by margins in its main business lines. (Fri, 23 May 2008 06:50:19 GMT)
Phila. man charged in $1 million insurance scam
Closing a chapter in a two-year investigation, city authorities have charged a Kingsessing man with masterminding an alleged conspiracy to defraud 10 insurance companies of more than $1 million in phony claims from staged automobile accidents. (Fri, 23 May 2008 07:43:08 GMT)
Insurance in fire zones
Homeowners in remote mountain areas probably pay more for their insurance policies than those who live on suburban streets, but all the owners affected by Thursday's wildfire should have been able to obtain insurance policies if they wanted. (Fri, 23 May 2008 08:44:49 GMT)
Action Line: DMV rules have changed on proof of insurance
Q I just received my DMV automobile renewal notice and nowhere could I see that I need to include a copy of my insurance. (Fri, 23 May 2008 08:48:33 GMT)
NH insurance commissioner wins 2nd term
Insurance Commissioner Roger Sevigny has won a second, five-year term. The Executive Council approved his appointment Wednesday. (Fri, 23 May 2008 11:06:49 GMT)
Philly DA: $1 million insurance fraud scheme is broken up
The alleged mastermind of a more than $1 million insurance fraud scheme in Philadelphia has been arrested, and investigators say they expect lawyers and doctors to also be charged. (Fri, 23 May 2008 12:13:19 GMT)
Zurich Frontrunner for Royal Bank of Scotland Insurance Buy
Rivals are circling Royal Bank of Scotland's insurance arm as a bid deadline approaches, but aside from Zurich Financial Services, few may have the desire and firepower to buy Britain's largest motor (Fri, 23 May 2008 12:52:35 GMT)
The Hurdles on the Way to a Better Insurance
In my last several columns, I have discussed a proposal for a new type of mortgage insurance that I think would help solve many of the problems with the current mortgage system. (Fri, 23 May 2008 20:54:29 GMT)
Tornado insurance claims to top $52 million
State Farm Insurance estimates it will receive $52.5 million in claims as a result of the tornadoes that touched down in Weld County on Thursday. (Fri, 23 May 2008 23:16:43 GMT)
Cops: Murrieta Man Killed His Wife For Insurance $
Prosecutors say a Murrieta man murdered his wife for $1 million in insurance money. Kelle Lee Jarka, 39, is behind bars after being arrested Thursday, according to police and prosecutors. (Sat, 24 May 2008 00:43:07 GMT)
In Prison for Insurance Fraud, Former Doctor Admits Trying to Have Prosecutor Killed
A former Houston doctor serving a decade in federal prison for bilking millions from insurance companies was sentenced Thursday to an additional year after admitting he asked a fellow inmate to arrange to have a federal prosecutor run over by an 18-wheeler to "make him like a pancake," prosecutors said. Ira Klein, a former Houston gastroenterologist, pleaded guilty to retaliating against ... (Sat, 24 May 2008 00:52:25 GMT)
Insurance broker Aon settles suit with Florida
Aon Corp . , a Chicago-based insurance broker that is accused of receiving undisclosed commissions for commercial insurance policies, agreed to pay $2.6 million to reimburse Florida policy holders and $1.4 million to the state for legal fees. (Sat, 24 May 2008 07:17:10 GMT)
Zurich, Generali, Allstate May Bid for RBS Insurance, FT Says
May 24 (Bloomberg) -- Zurich Financial Services AG, Assicurazioni Generali SpA and Allstate Corp. may submit bids next week for the insurance unit of Edinburgh-based Royal Bank of Scotland Group Plc , the Financial Times reported, without citing anyone. (Sat, 24 May 2008 08:04:32 GMT)
Attorney general's opinion sought on board insurance
PARKSLEY -- A group of residents on Wednesday successfully petitioned the Accomack County Board of Supervisors to seek a state Attorney General's opinion on the legality of its top-shelf health-insurance policy. (Sat, 24 May 2008 08:33:19 GMT)
Summit Fire: Insurance comes with hefty price tag
Fire insurance is available for remote forested areas, but it's expensive. And since the Santa Cruz Mountains don't burn often, some residents take their chances. (Sat, 24 May 2008 08:44:40 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. (Sat, 24 May 2008 10:24:33 GMT)
Willingboro woman indicted on insurance-fraud charges
Tomica S. Cooper is charged with insurance fraud, theft by deception, impersonation and falsifying records, said Greta Gooden Brown, the state's insurance fraud prosecutor. If convicted, she could face up to 10 years in prison, fines and restitution. (Sat, 24 May 2008 11:41:13 GMT)
Insurance Coverage For Kedah Fishermen, Says Mustapa (Malaysian National News Agency
SUNGAI PETANI, May 25 (Bernama) -- Some 8,000 fishermen in Kedah will be the first batch of fishermen in the country to be covered by an insurance scheme from January 1 next year, Agriculture and Agro-based Industry Minister Datuk Mustapa Mohamed said Sunday. (Sun, 25 May 2008 05:03:55 GMT)
Insurance coverage for Kedah fishermen
Some 8,000 fishermen in Kedah will be the first batch of fishermen in the country to be covered by an insurance scheme from January 1 next year, Agriculture and Agro-based Industry Minister Datuk Mustapa Mohamed said today. (Sun, 25 May 2008 05:47:11 GMT)
Insurance / In Depth Interviews
The official opening of Brazil's reinsurance market earlier this month dominated the news and fueled talk of the huge potential in the insurance sector. Yet another untapped segment hovers below the massive risks and large contracts involved in reinsurance. (Sun, 25 May 2008 07:00:43 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, 25 May 2008 07:14:29 GMT)
Clal Insurance moves into red
Negative returns for participating life insurance policies dragged the firm to a loss. (Sun, 25 May 2008 09:23:52 GMT)
Dubai Hospitals forecast that mandatory health insurance will have a severely negative effect on the quality of ...
As released at the end of April, the new Dubai Health Authority (DHA) will introduce a compulsory health insurance scheme for all local and expatriate employees working in the public and private sectors in Dubai. (Sun, 25 May 2008 10:44:29 GMT)
How to save money on car insurance
As the price of gas accelerates past $4 a gallon, perhaps it's time to think about another painful cost of driving: auto insurance. (Sun, 25 May 2008 11:06:50 GMT)
Finding Affordable Health Insurance Is Easy
(ARA) - Having health insurance gives us piece of mind. But have you ever thought you might be overpaying for your coverage? Or what if you find yourself without health coverage and need to find something affordable fast? The answers to these questions can easily be found on the Internet. (Sun, 25 May 2008 11:17:19 GMT)
Zurich Is Frontrunner to Buy RBS Insurance Unit, Mail Reports
May 25 (Bloomberg) -- Zurich Financial Services AG is the most likely candidate to buy Royal Bank of Scotland Group Plc's insurance unit, the Mail on Sunday reported, citing sources. (Sun, 25 May 2008 11:34:32 GMT)
Insurance rates ordered reviewed
Associated Press AUSTIN -- State Farm Insurance does not have to refund consumers $650 million in alleged overcharges while its dispute with Texa ... (Sun, 25 May 2008 11:49:59 GMT)
Insurance Australia Replaces CEO Hawker; Wilkins to Take Over
Wilkins' appointment is effective today, the company said in a statement to the Australian stock exchange. Insurance Australia is in the process of conducting a review of its business and will announce the results in July, it said. (Mon, 26 May 2008 00:29:35 GMT)
Insurance Australia Replaces CEO Hawker With Wilkins (Update1)
May 26 (Bloomberg) -- Insurance Australia Group Ltd. said Chief Executive Officer Michael Hawker resigned and will be replaced by Michael Wilkins , a week after the company rejected an A$8.7 billion ($8.3 billion) takeover offer. (Mon, 26 May 2008 00:57:50 GMT)
Insurance Australia Replaces CEO Hawker With Wilkins (Update2)
May 26 (Bloomberg) -- Insurance Australia Group Ltd. , the auto and home insurer that last week rejected an A$8.7 billion ($8.3 billion) takeover bid, said Chief Executive Officer Michael Hawker resigned and will be replaced by Michael Wilkins . (Mon, 26 May 2008 01:29:35 GMT)
Insurance agencies merging
Two of Colorado's largest independent insurance agencies are merging. (Mon, 26 May 2008 04:52:02 GMT)
Insurance Australia Replaces CEO Hawker With Wilkins (Update4)
May 26 (Bloomberg) -- Insurance Australia Group Ltd. Chief Executive Officer Michael Hawker resigned, saying he had ``lost the confidence'' of some shareholders after the company rejected an A$8.7 billion ($8.3 billion) takeover bid. (Mon, 26 May 2008 06:43:00 GMT)
Villar hopes new insurance policy will lessen illegal recruitement victims
An insurance policy that would require the insurer to pay or reimburse an overseas Filipino worker without question, in case of injury, is seen by a legislator to combat the rising cases of victims of illegal recruitment. (Mon, 26 May 2008 09:33:52 GMT)
All about insurance: Talk to the expert
Insurance is not only a great investment option, but provides great cover for two risks -- dying too young and living too long! Which is the best insurance policy to opt for? Is insurance actually a good investment option? Which company provides the best health cover for senior citizens? (Mon, 26 May 2008 10:15:20 GMT)
Services Held For Slain Insurance Investigator
WAKE CO., N.C. -- Family and friends remembered murdered insurance investigator Sallie Rohrbach in Wake County Sunday. During her funeral services, loved ones remembered her as a woman who lived life to the fullest. (Mon, 26 May 2008 10:37:03 GMT)
Insurance Australia Loses Its Head (CEO)
Chief Executive Michael Hawker steps aside, following the auto and home insurer's dimming outlook and much crtiicism, having spurned a rich takeover bid from QBE Insurance Group. (Mon, 26 May 2008 11:01:47 GMT)
Insurance will cover rescue costs, divers say
Two divers rescued off North Queensland say their insurance company will cover the entire costs of the operation. (Mon, 26 May 2008 11:34:00 GMT)
Govt tells Beechwood clients to lodge insurance claims
The New South Wales Government is urging consumers affected by the collapse of Beechwood homes to immediately lodge insurance claims. (Tue, 27 May 2008 04:00:00 GMT)
Teachers' health insurance plan widens
A state health insurance plan for teachers begun five years ago to save jobs in small school districts has grown into one of Texas' biggest programs, used by nearly 90 percent of the state's school districts. (Tue, 27 May 2008 06:01:07 GMT)
State officials begin to crack down on insurance bill fraud
LYNN - State officials are cracking down on healthcare facilities that submit fraudulent bills for insurance reimbursement. The state attorney general’s office in conjunction with the Insurance Fraud Bureau held a summit earlier this month at the Kennedy Library in Boston to address the problem. (Tue, 27 May 2008 07:36:22 GMT)
Kenya: Nyong'o to Bring Back Health Insurance Bill
A Bill to reintroduce a controversial health insurance scheme for all Kenyans will soon be tabled in Parliament. (Tue, 27 May 2008 08:16:09 GMT)
Stuffy insurance firms need infusion of vitality…and Web 2.0
The North American insurance sector is ill equipped to meet the technology needs of a new breed of employees slated to enter the workforce, experts say. (Tue, 27 May 2008 10:08:35 GMT)
Insurance Australia Group CEO Steps Down After Rejection of QBE Bid
It didn't take long for a number of angry shareholders of Insurance Australia Group (IAG) to exert enough pressure to force the summary resignation of CEO Michael Hawker. IAG's board rejected the A$8. (Tue, 27 May 2008 10:22:45 GMT)
Zurich Favored to Buy RBS Insurance
Rivals are circling Royal Bank of Scotland's insurance arm as a bid deadline approaches, but aside from Zurich Financial Services, few may have the desire and firepower to buy Britain's largest motor (Tue, 27 May 2008 10:23:06 GMT)
Health insurance for all tops NA agenda
VietNamNet Bridge – The National Assembly (NA) yesterday discussed a draft Law on Health Insurance that would provide a service for all Vietnamese. (Tue, 27 May 2008 11:41:52 GMT)
Insurance and Transport
gadens lawyers ' leading corporate risk and insurance practice has been strengthened by the addition of Ray Giblett (ex-Clayton Utz) as a partner. (Tue, 27 May 2008 12:30:22 GMT)
Warrant: Blood found in NC insurance office
A police search warrant says there was blood inside a Charlotte, N.C. insurance agency owned by a man charged in the death of a woman auditing his business. (Tue, 27 May 2008 18:45:01 GMT)
PV insurance rating upgraded
A switch in fire providers and upgrades in water distribution systems in Paradise Valley have resulted in an improved rating used by insurance companies to set homeowner, fire and commercial insurance premiums. (Wed, 28 May 2008 01:08:09 GMT)
Generali Decides Not to Pursue RBS Insurance Assets, FT Reports
May 28 (Bloomberg) -- Assicurazioni Generali SpA , the Italian insurer, has withdrawn from the bidding for Royal Bank of Scotland Group Plc 's insurance assets, the Financial Times reported, citing people familiar with the matter. (Wed, 28 May 2008 02:04:42 GMT)
New CBA motor insurance travelling well
Commonwealth Bank of Australia says its new in-house motor insurance business is going "very well" and beating the bank's expectations. (Wed, 28 May 2008 03:25:41 GMT)
Insurance claims from N. Colorado storms could hit $147 million
Insurance industry officials said they expect $147 million in claims from last week's deadly tornadoes and hailstorms in northern Colorado, making it the fourth-costliest storm in state history. (Wed, 28 May 2008 05:54:00 GMT)
Stains at insurance office might be blood
Police found what they think is blood in Michael Howell's insurance agency the day before they charged him with killing a state insurance investigator, according to court documents. (Wed, 28 May 2008 06:52:11 GMT)
Feds will foot police insurance for DNC
The federal government has agreed to reimburse Denver for the $1.85 million in upfront costs of liability insurance and workers' compensation insurance to cover outside police during the Democratic National Convention. (Wed, 28 May 2008 07:04:54 GMT)
Insurance Mis-Sold On 'Amazing' Scale
A third of people who have taken out loan payment protection insurance in the last five years may never be able to make a claim. (Wed, 28 May 2008 09:14:00 GMT)
Generali pulls out of RBS Insurance bid
Italy's Generali dropped out of the running for Royal Bank of Scotland's insurance arm on Wednesday, hours ahead of a first bid deadline, prompting speculation that interest in the asset is fading. (Wed, 28 May 2008 10:11:00 GMT)
Generali quits race for RBS insurance arm
Italian Assicurazioni Generali has pulled out of the race for Royal Bank of Scotland's insurance arm ahead of today's first informal deadline. (Wed, 28 May 2008 11:29:00 GMT)
First Buffett, Now Generali Pass On RBS Insurance
The U.K. bank, hoping to raise its Tier 1 capital, gets snubbed by another potential suitor for its insurance unit but has fresh hope for a bid from Zurich Financial. (Wed, 28 May 2008 14:16:55 GMT)
China to speed up developing quake insurance
Survivors trying to rebuild their lives from China's devastating earthquake are missing a critical aid -- insurance. Few among the 28 million people living in the quake-struck area in Sichuan province have life or property insurance. (Wed, 28 May 2008 19:14:22 GMT)
Fla. gov signs revamped insurance package into law
Gov. Charlie Crist has signed new insurance legislation that extends a rate freeze for more than a million customers of state-backed Citizens Insurance. (Wed, 28 May 2008 21:24:12 GMT)
CBA to consider insurance buy - broker
COMMONWEALTH Bank (CBA) will seriously consider making a big acquisition in the general insurance space if an opportunity arose, a broker says. (Thu, 29 May 2008 06:24:00 GMT)
China to speed up earthquake insurance
BEIJING -- Survivors trying to rebuild their lives from China's devastating earthquake are short of one critical aid _ insurance. (Thu, 29 May 2008 06:36:51 GMT)
RBS extends insurance auction into June
LONDON (Reuters) - Initial, informal offers for Royal Bank of Scotland's insurance arm are unlikely before next week after a first deadline was delayed on the request of several suitors, sources close to the process said. (Thu, 29 May 2008 11:11:17 GMT)
Insurance pool ruling backfires
Instead of helping Democrats persuade the governor to open the state's health insurance plan to municipalities, nonprofit groups and small businesses, an opinion issued by the attorney general has spurred more concerns. (Thu, 29 May 2008 11:46:15 GMT)
Crist signs revamped insurance package into law
TALLAHASSEE, Fla. -- There's a new insurance legislation that extends a rate freeze for more than a million customers of state-backed Citizens Insurance. (Thu, 29 May 2008 11:47:41 GMT)
Insurance agents begin assessing damage
A local insurance agent says he expects companies to pay out at least $90 million to $100 million. The question is who is going to get what. Bob Neymeyer is one of the lucky ones his house is still standing. He's decided to fix his house rather than rebuild. (Thu, 29 May 2008 12:08:57 GMT)
The Insurance Industry in the Middle East & Africa Report Provides Insightful Analysis, Market Briefs, Industry ...
Research and Markets (http://www.researchandmarkets.co has announced the addition of "Insurance Industry in The Middle East & Africa - Global Strategic Business Report" to their offering. (Thu, 29 May 2008 12:58:46 GMT)
Young adults at risk: 13.7 million lack health insurance coverage
May 30, 2008, New York—The number of uninsured young adults in the United States rose to 13.7 million in 2006—an increase from 13.3 million in 2005—making the 19-to-29 age group one of the largest and fastest-growing segments of the population without health insurance. (Fri, 30 May 2008 04:06:26 GMT)
'No insurance business plans' says CBA
Commonwealth Bank of Australia said it had no plans to acquire a general insurance business after a broking house said that CBA would consider such a move. (Fri, 30 May 2008 05:38:21 GMT)
Republican: Let New Jerseyans shop for health insurance
TRENTON, N.J. - A New Jersey lawmaker wants to let residents shop outside New Jersey for health insurance. (Fri, 30 May 2008 05:39:47 GMT)
Private health insurance
We're a single middle-income family with one child and are trying to work out if we really need private health insurance. I won't be going back to work for a few years yet. We currently have hospital coverage. (Fri, 30 May 2008 05:47:00 GMT)
Map revision clears way for flood insurance, marketing
ST. PETERS — The impending availability of federal flood insurance for the Premier 370 Business Park makes an owner eager to begin marketing the nearly 1,000-acre tract. Mike Hejna, president of Gundaker Commercial Group, said Thursday a government agency's favorable decision is "fabulous." (Fri, 30 May 2008 08:23:14 GMT)
General insurance premiums rise 9% in Q1 2008
SINGAPORE: Singapore's general insurance industry saw premiums rise nine per cent in the first quarter of this year, compared to a year ago. According to the General Insurance Association (GIA), net earned premiums hit S$443.2 million, up from S$407 million in the same period last year. (Fri, 30 May 2008 09:07:23 GMT)
Portfolio insurance? Sounds a bit fishy
Question: Is portfolio insurance legitimate? At a seminar I attended, an adviser said it would cost me 0.5% of what I invest with him. Supposedly it will lock in my gains and I can't lose money no matter what the market does. - Paula Krensavage, Weirton, W.Va. (Fri, 30 May 2008 09:58:36 GMT)
Fitch supports phase II of insurance contracts standard
Fitch Ratings has said phase II of the insurance contracts standard proposed by the International Accounting Standards Board represents a good opportunity to bring greater comparability and increased disclosure to the insurance industry. (Fri, 30 May 2008 12:00:34 GMT)
Beat the High Cost of Health Insurance
(ARA) - If you've shopped for or are currently paying for health insurance, you know that consumers are paying more than ever before for their policies. But the numbers are staggering. (Fri, 30 May 2008 12:16:56 GMT)
Young Adults At Risk: 13.7 Million Lack Health Insurance Coverage
The number of uninsured young adults in the United States rose to 13.7 million in 2006, from 13.3 million in 2005. The 19-to-29 age group one of the largest and fastest-growing segments of the population without health insurance. According to a newly updated report from The Commonwealth Fund, 38 percent of high school graduates who do not attend college and 34 percent of college graduates will ... (Fri, 30 May 2008 12:28:19 GMT)
AAA Insurance 200 starting lineup
ActiveReports Document @page{size: 8.5in 11in;margin-top:0.1in;margin-left:0.3in;margin-right:0.3in;margin-bottom:0.1in;} Starting Line Up by Row Dover International Speedway Provided by NASCAR Statistics - Fri, May 30, 2008 @ 11:09 AM Eastern 120.2 Speed Time 01:39:50 06/02/06 Date Driver Mark Martin Track Race Record: AAA Insurance 200 1 5 Mike Skinner Toyota Tundra Toyota 23.165 155.407 ... (Fri, 30 May 2008 16:38:20 GMT)
Republican: Let New Jerseyans shop for health insurance
A New Jersey lawmaker wants to let residents shop outside New Jersey for health insurance. Assemblyman Jay Webber says his proposal would let New Jerseyans secure health care coverage that best suits their needs and budgets. (Fri, 30 May 2008 18:02:00 GMT)
More Young People Going Without Health Insurance
FRIDAY, May 30 (HealthDay News) -- The number of young adults without health insurance rose again in 2006, so 38 percent of high school graduates and 34 percent of college graduates will spend some time uninsured in the year after graduation, a new report shows. (Fri, 30 May 2008 18:03:44 GMT)
Hanover Insurance gets S&P upgrade
Standard & Poor's Ratings Services on Friday raised its counterparty credit rating for Hanover Insurance Group Inc., citing the company's competitive position and strategy. (Fri, 30 May 2008 21:49:14 GMT)
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