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Insurance News 06/2008



Cities might drastically change health insurance (The State)
Myrtle Beach budget director Mike Shelton got a colonoscopy in Thailand because of a change in accounting standards for local governments. The change has to do with how local governments pay their health insurance costs. It essentially creates a multimillion-dollar debt that cities and counties have to pay to cover their employees’ future health costs. It is so significant S.C. lawmakers are ...

Insurance firms penalize moms for C-sections (Pioneer Press)
When the Golden Rule Insurance Co. rejected her application for health coverage last year, Peggy Robertson was mystified.

After Caesareans, Some Women See Higher Insurance Cost (NYTimes.com via Yahoo! Finance)
With individual insurance, prices differ based on a person’s medical history; a past Caesarean can mean higher premiums.

Caesareans may snarl search for insurance (The News & Observer)
With individual insurance, unlike the group coverage usually sponsored by employers, insurance companies in many states are free to pick and choose the people and conditions they cover, and they can base the price on a person's medical history. Sometimes, a past Caesarean means higher premiums.

Photos help speed payment of insurance claims (Sun-Sentinel)
Photos or videos can help expedite insurance claims To help speed payment of an insurance claim, take videos or photos of your belongings before a hurricane. Business owners should do the same.

Options if health insurance is lost (Baltimore Sun)
L osing your paycheck isn't the only problem when you're laid off. You probably need to decide what to do about health insurance if your employer has been providing your coverage.

Shop for your home insurance (Asbury Park Press)
SINCE HURRICANE Katrina blew ashore nearly three years ago and caused massive damage along the Gulf Coast, families in many coastal states have found it difficult and costly to get comprehensive homeowners insurance.

Finance Q&A: Personal property insurance (Everett Herald)
Question: I've heard there are insurance policies that I can buy for my new engagement ring, digital camera or golf clubs that may not be covered by other insurance I hold. When is it a good idea to get one of these policies?

Want to Save 35 Percent on Insurance? (Richfield Reaper)
(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.

After Caesareans, Some See Higher Insurance Cost (NYTimes.com via Yahoo! Finance)
With individual insurance, prices differ based on medical histories; a past Caesarean can mean higher premiums.

Caesarean section may have insurance risk (UPI)
NEW YORK, June 1 (UPI) -- Giving birth through Caesarean section may result in higher health insurance costs for some U.S. women, health officials say.

After Caesareans, Some See Higher Insurance Cost (NYTimes.com via Yahoo! Finance)
With individual insurance, prices differ based on medical histories; a past Caesarean can mean higher premiums.

Insurance deficit worsens plight of China's quake victims (AFP via Yahoo! Malaysia News)
It will take years for the quake disaster zone in the southwestern province of Sichuan to recover, but some people may never be able to get back on their feet because they did not have insurance.

Insurance deficit worsens plight of China's quake victims (Channel NewsAsia)
BEICHUAN, China : It will take years for the quake disaster zone in the southwestern province of Sichuan to recover, but some people may never be able to get back on their feet because they did not have insurance.

$800M contract alters insurance landscape (BizJournals)
In a blow to the state's largest insurance company, the new Oregon Educators Benefit Board passed over Regence BlueCross BlueShield of Oregon for the state's biggest health care contract, an $800 million deal to insure public school teachers.

Insurance group aims to get minorities into industry (BizJournals)
Shanna Reid stumbled upon her first opportunity in the insurance industry.

6 ways to save money on car insurance (Lansing State Journal)
As the price of gas tops $4 a gallon, perhaps it's time to think about another painful cost of driving: auto insurance.

Coastal insurance costly (Louisville Courier-Journal)
Since Hurricane Katrina blew ashore nearly three years ago and caused massive damage along the Gulf Coast, families in many coastal states have found it difficult and costly to obtain comprehensive homeowners insurance.

Liberty Mutual to form personal and commercial insurance company in India (BizJournals)
Liberty Mutual Group said Monday it plans to provide personal and commercial insurance in India with its partner, Dabur GI Invest Corp.

(AFX UK Focus) 2008-06-02 12:58 Randall & Quilter says UK court orders trial of issues with insurance companies (Interactive Investor)
LONDON (Thomson Financial) - Randall & Quilter Investment Holdings Plc. said the English Commercial Court has ordered the trial of preliminary issues between its Cavell USA Inc. unit and its chairman Ken Randall, and Seaton Insurance Co. and Stonewall Insurance Co.

Cuomo sues insurance broker over senior citizen policies (Rochester Democrat and Chronicle)
Attorney General Andrew Cuomo sued an insurance broker Monday who allegedly has sold senior citizens insurance for home-health services they didn't need.

State insurance office rejects Hartford companies' 40 percent increase (Sun-Sentinel)
Insurer's steep increase is rejected The Hartford insurance companies are the latest targets of the state's smackdown on property insurance rates.

Hartford loses bid to raise insurance rates (Miami Herald)
State regulators denied a nearly 40 percent insurance rate increase sought by The Hartford Companies, noting the request wasn't fully justified in the company's rate filing last year.

Dabur Group To Tie-Up With Liberty Mutual Group To Promote Non-Life Insurance Biz (Nasdaq)
(RTTNews) - The promoters of Dabur group are planning to tie-up with Boston-based diversified insurer, Liberty Mutual Group, to form a non-life insurance company christened Dabur Liberty General Insurance Company.

Study: Ky. families need more help with insurance programs (Louisville Courier-Journal)
Families eligible for Medicaid and the Kentucky Children's Health Insurance Program need more help from the state in understanding how to get benefits, according to a study released yesterday.

Fire & Allied Insurance Industry Global Strategic Business Report is Available Now (Centre Daily Times)
Research and Markets (http://www.researchandmarkets.co has announced the addition of "Fire & Allied Insurance Industry - Global Strategic Business Report" to their offering.

Kazakh nuclear company seeks $3 bln Japan insurance (Reuters via Yahoo! Singapore News)
WEST MYNKUDUK, Kazakhstan, June 3 - Kazakh uranium company Kazatomprom is seeking a $3 billion credit insurance facility from a Japanese company to fund development, Kazatomprom CEO Mukhtar Dzhakishev said on Tuesday.

Health insurance gains detailed (Boston Globe)
The number of uninsured adults in Massachusetts fell by almost half last year, says a study released today, while the state's Revenue Department reports that 86,000 people paid a state tax penalty rather than buy insurance.

Mourette named CEO of SSQ General Insurance (Investment Executive)
SSQ General Insurance Co. has appointed Gilles Mourette as its new chief executive officer. Mourette brings a total of 25 years of experience in the insurance and financial services sector to this position. Since 1999, he has been senior vp of information technology at SSQ, Life Insurance Co.

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.

Former Pro Bowler Newberry provides insurance for injured Hardwick (NFL.com)
SAN DIEGO -- Former Pro Bowl center Jeremy Newberry signed a one-year contract with the San Diego Chargers on Monday, most likely as insurance in case Nick Hardwick isn't ready for the start of the season.

Car insurance gets cheaper by 30% (rediff.com)
Ever since the Insurance Regulatory and Development Authority (Irda) allowed motor insurance companies to decide premiums in December 2007, car insurance premiums have fallen sharply. The focus, it seems, is clearly on garnering more retail customers.For instance, in March 2007, the premium for a Honda City was Rs 20,760 in Mumbai. But this year it has fallen to Rs 15,770 - a difference of Rs ...

Lawmakers Discuss Insurance Cost For Teachers (The Morning News)
LITTLE ROCK - A legislative committee voted Tuesday to increase funding for salaries and instructional material by up to $58.8 million and recommended that the Legislature study ways to help teachers with rising health insurance cost.

Saudi announces health insurance for foreign workers (Philippine Daily Inquirer)
RIYADH -- Saudi Arabia’s Ministry of Health will implement a compulsory health insurance scheme for the estimated four million foreign workers in the Islamic Kingdom.

Insurance verifier to begin field test (Fort Worth Star-Telegram)
The system will allow police to match vehicles with insurance information.

(AFX UK Focus) 2008-06-04 11:46 Brit Insurance's outlook cut to negative from stable - Fitch (Interactive Investor)
MUMBAI (Thomson Financial) - Fitch Ratings cut its outlook on the insurer financial strength rating of Brit Insurance Holdings Plc.'s principal unit Brit Insurance Ltd. to negative from stable to reflect the agency's concern over the effectiveness of the group's expansion into the U.K. regions and the drag the U.K. business unit is expected to have on Brit Insurance and group earnings.

Naturopathy insurance a boon to industry (Brattleboro Reformer)
Wednesday, June 4 BRATTLEBORO -- Naturopathic physicians in Vermont say a new law that requires insurance companies to cover their services has led to an increase in the number of patients they are seeing.

Study: Fewer Missourians Have Health Insurance (KOLR - KSFX Ozarks)
A new study finds more Missourians are currently living without health insurance. That news doesn't exactly shock the people who deal with the problem everyday.

Help with Medicare, insurance at SHINE today (Bradenton Herald)
MANATEE - The group SHINE - which offers individual assistance with Medicare, Medicare supplements, long-term care, insurance, group insurance and HMOs - offers help at 9, 9:45, 10:30 and 11:15 a.m. today at the Cortez Center, at 6670 Cortez Road.

Nigeria: Kingibe Tasks Insurance Companies On Prompt Payment of Claims (AllAfrica.com)
Secretary to the Federal Government, Amb. Babagana Kingibe yesterday said the reluctance of most insurance companies to honour their obligations to policy holders was responsible for lack of interest in insurance policy.

Demand for Insurance on Art Increases (WallStreet Journal via Yahoo! Finance)
Demand for private art insurance has risen sharply in the months after the Swiss art scene was jolted by the theft of four 19th-century paintings, the Swiss unit of German insurer Allianz said.

Some small towns opt to buy terrorism insurance (USA Today)
The extra coverage is relatively inexpensive for a small village it can amount to less than $100 a year and in many cases it's a standard feature of government insurance pools.

Get flood insurance, disaster chief urges (New Orleans Times-Picayune)
More than 500 St. Charles Parish homes have flooded more than once since the federal flood insurance program began in 1978, and parish homeowners have filed nearly 4,000 flood-related insurance claims since then.

N.Y. High Court: Insurance Excluding 'Terrorism' Violates Lease (Law.com)
The tenant of a commercial building in Manhattan violated its lease by acquiring insurance that provided coverage for damage due to many typical acts of terrorists but which carried a binder stating that "terrorism is excluded," a unanimous New York Court of Appeals decided Tuesday. The lease does not specifically require coverage for acts of terrorism, but the court found that by expressly ...

Zurich, Allstate Bid for RBS Insurance Units, Reuters Says (Bloomberg.com)
June 4 (Bloomberg) -- Zurich Financial Services AG may be the front-runner to purchase the insurance units being sold by Royal Bank of Scotland Group Plc, Reuters said.

Loan insurance 'costing too much' (BBC News)
People buying Payment Protection Insurance are being overcharged by £1.4bn a year, the regulator says.

Loan insurance seen too costly (Reuters.co.uk)
LONDON (Reuters) - Britons are being overcharged by over 1.4 billion pounds a year from the sale of insurance to cover repayment of loans when they fall ill and industry price caps may be introduced, the competition watchdog said.

Kostan: Insurance switch no '09 boost (The Daily Item)
LYNN - A potential money-saving change of the city's health insurance providers will not come in time to ease the blow of the fiscal 2009 school budget, but Superintendent Nicholas Kostan is hopeful that the change will allow for savings on future spending plans.

How Much Should You Pay for Auto Insurance? (Richfield Reaper)
(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.

Beat the High Cost of Health Insurance (Richfield Reaper)
(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.