Insurance News 05/2008 (Page 3)
Al Khazna Insurance buys 15% of Saudi Arabia's Sanad (AME Info)
Al Khazna Insurance Company announced on Saturday it had acquired a 15% stake in Saudi Arabia's Sanad for Co-operative Insurance and Reinsurance.
(May 11, 2008)
A will covers bases that insurance leaves empty (The News & Observer)
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.
(May 11, 2008)
Insurance fraud lands glass repairman in prison (East Valley Tribune)
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.
(May 11, 2008)
Health insurance making you sick? (Louisville Courier-Journal)
Does your health insurance pay much less for your medical care that it used to, leaving you to pay more?
(May 11, 2008)
Here's a Quick and Easy Way to Find High Quality, Low Cost Health Insurance (Richfield Reaper)
(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.
(May 11, 2008)
Insurance rate could see shift (Northwest Herald)
McHENRY – The McHenry Public Library could see dramatic changes in its employee health-insurance costs depending on whether leaders go with a new plan.
(May 11, 2008)
Midland woman sentenced in insurance fraud case (Midland Daily News)
A Midland woman who was charged with insurance fraud and embezzlement while employed at an insurance agency has been sentenced.
(May 11, 2008)
How to Save Money on Auto Insurance (Richfield Reaper)
(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.
(May 11, 2008)
Too much networking can hurt: My Biggest Mistake, by Laura Mutsko of Mutsko Insurance Services (The Plain Dealer)
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.
(May 12, 2008)
Health insurance changes will fuel inflation: Opposition (ABC via Yahoo!7 News)
The Federal Opposition says the changes to private health insurance in tomorrow's Budget will be inflationary.
(May 12, 2008)
State insurance program to borrow $250M from Citizens (BizJournals)
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.
(May 12, 2008)
CGI Wins $115m Contract From Home Insurance Provider (ComputerWire via Yahoo!7 News)
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.
(May 12, 2008)
In wake of Midwest temblor, Johnston ponders quake insurance (The Des Moines Register)
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.
(May 12, 2008)
UK's FSA Examines Insurance Comparison Web Sites; ABI Comments (Insurance Journal)
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
(May 12, 2008)
Insurance / In Depth Interviews (Business News Americas)
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.
(May 12, 2008)
Johnson signals support for social care insurance (Guardian Unlimited)
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
(May 12, 2008)
How Much Should You Pay for Auto Insurance? (Carteret County News-Times)
(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.
(May 12, 2008)
Young widower pushes for change in Mass. life insurance law (Chicago Sun-Times)
ASHLAND, Mass. -- When Jenny and John Crowley learned they were having a baby, they did the responsible thing: they bought life insurance.
(May 12, 2008)
Allstate Insurance to refund Texas customers $51.6 million (Dallas Morning News)
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.
(May 13, 2008)
State Bank of India,Australia's IAG in insurance JV (Reuters via Yahoo! Singapore News)
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.
(May 13, 2008)
Pawlenty OKs flood insurance measure (Pioneer Press)
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.
(May 13, 2008)
Popularity of travel insurance grows (New Orleans Times-Picayune)
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.
(May 13, 2008)
State Bank of India, Australia's IAG in insurance JV (Reuters via Yahoo! India News)
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.
(May 13, 2008)
Ministers look at social care insurance as costs rise (Guardian Unlimited)
People may have to pay into a social insurance scheme towards costs of care in old age
(May 13, 2008)
Brit Insurance appoints active underwriter (Insurance Window)
Brit Insurance Holdings has appointed Jonathan Turner as active underwriter of Syndicate 2987.
(May 13, 2008)
Lancaster insurance agent surrenders his license (Lancaster Eagle-Gazette)
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.
(May 13, 2008)
Instant Life Insurance Quotes Provide Peace of Mind (The Bradford Era)
(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.
(May 13, 2008)
Council will take up question of insurance (Corpus Christi Caller-Times)
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.
(May 13, 2008)
Senate approves renewal of flood insurance program (AP via Yahoo! News)
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.
(May 13, 2008)
Marshall Loeb's Daily Money Tip: Why you should consider purchasing renters insurance (Market Watch)
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.
(May 14, 2008)
Road Home slows insurance claim payoffs (New Orleans Times-Picayune)
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.
(May 14, 2008)
RBS Spurns Private Equity From Insurance Business Bids, FT Says (Bloomberg.com)
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.
(May 14, 2008)
Perris business sells Mexican auto insurance online (The Press-Enterprise)
What's new: Mexican Insurance Store.com in Perris is celebrating its sixth year this month.
(May 14, 2008)
Firms on board with insurance fund despite Crist's opposition (Miami Herald)
Two major investment firms will advise Florida on financing its hurricane catastrophe insurance fund although Gov. Charlie Crist tried to exclude them Tuesday.
(May 14, 2008)
Pegasystems Launches Industry's First Contact Center Solution Specifically Designed for the Insurance Industry (CRM Today)
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.
(May 14, 2008)
Smart earns top crash scores in insurance industry tests (Minneapolis-St. Paul Star Tribune)
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.
(May 14, 2008)
Aspen Insurance to buy back $100M worth of shares (AP via Yahoo! Finance)
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.
(May 14, 2008)
Rao retires as insurance regulatory body chief (Calcutta News)
'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.
(May 14, 2008)
Oracle To Buy Insurance Software Maker (TechWeb via Yahoo! News)
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.
(May 14, 2008)
US probing Iraqi companies for insurance fraud (AP via Yahoo! News)
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.
(May 14, 2008)
Insurance fraud? Iraqi companies probed (MSNBC)
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.
(May 15, 2008)
FBI seizes records tied to Lubbock insurance dispute (Lubbock Avalanche-Journal)
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.
(May 15, 2008)
Recovering damages: Tips for homeowners-insurance fire claims (Orlando Sentinel)
Question: Will my insurance company pay to repair or rebuild my home?
(May 15, 2008)
Nelson targets petrol, health insurance in reply (ABC via Yahoo!7 News)
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.
(May 15, 2008)
Nelson targets petrol, health insurance in reply (Australian Broadcasting Corporation)
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.
(May 15, 2008)
N.J. Lawmakers Weighing Health Insurance Proposal (CBS 3 Philadelphia)
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.
(May 15, 2008)
Insurance Industry Embraces Iontas' Focus Software Suite For Six Sigma Initiative (CRM Today)
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.
(May 15, 2008)
No fee required: Chiropractor eliminates need for insurance, works on honor system (Carroll County Online)
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.
(May 15, 2008)
Panel says contractors, insurance firms gouging taxpayers (AP via Yahoo! News)
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.
(May 15, 2008)
Contractors, insurance firms gouging taxpayers, panel says (AP via Yahoo! News)
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.
(May 15, 2008)
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