Insurance News Aug 2008
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3 keys to cheaper motorcycle insurance
Three factors dictate the cost of motorcycle insurance, says Bankrate car columnist Terry Jackson. (Fri, 01 Aug 2008 10:00:00 GMT)
Testimony in wrongful-firing suit turns to lapsed insurance policy
An official from the insurance company that insured the old Griswold Town Hall testified Thursday that no one from the town had called to cancel (Fri, 01 Aug 2008 12:52:42 GMT)
N.J.'s Palisades Acquires Proformance Insurance
New Jersey's Palisades Safety and Insurance Association has taken a step to expand beyond auto insurance by acquiring the National Atlantic Holdings Corp., including its subsidiary, The Proformance In (Fri, 01 Aug 2008 13:26:30 GMT)
Hanover Insurance Reports Q2 Net Loss with Sale of Life Business
The Hanover Insurance Group, Inc. in Worcester, Mass. reported a net loss for the second quarter of 2008 of $10.2 million, compared to an income of $59.8 million in the second quarter of the prior yea (Fri, 01 Aug 2008 13:26:45 GMT)
Auto insurance scam may have stung 500
GRAND RAPIDS -- Living on Social Security and helping to support her grown daughter, Mary Cardosa jumped at the chance to buy $40 car insurance three years ago. (Fri, 01 Aug 2008 13:29:20 GMT)
State Solves Rape Victim's Insurance Problem
The 18-year-old victim of a brutal beating and rape attack three months ago, who remains incapacitated and in long-term rehabilitation, has gotten some help from the state. The family of the teen had received a letter from the insurance company that said the teen had to be moved from her current rehabilitation facility to another. The family and the teen's doctors disputed the insurer's ... (Fri, 01 Aug 2008 14:00:55 GMT)
More on Insurance
Don't make mistakes that could end up costing you money. Will it cost you more to file a claim? Tips and strategies for getting the best medical insurance for your money. (Fri, 01 Aug 2008 14:07:40 GMT)
Selective Insurance Touts Q2 Workers' Comp Improvement, Mass. Expansion
Selective Insurance reported that new premiums declined for the second quarter while workers' compensation results improved and its recent expansion into the commercial markets in Massachusetts and Te (Fri, 01 Aug 2008 14:26:25 GMT)
The Case for Risk Management and Insurance Education
If you're like most insurance firms, your workforce is aging. Or, as a friend of mine recently put it, "There's a lot of gray hair in the room." Not that there's anything wrong with that, mind you, bu (Fri, 01 Aug 2008 14:26:45 GMT)
Aon Net Income Way Up for Q2 on Sale of Combined Insurance
Giant insurance broker Aon Corp. reported that second quarter net income skyrocketed 372 percent largely from its sale of business units including Combined Insurance Companies of America. Net incom (Fri, 01 Aug 2008 14:42:31 GMT)
Insurance firm makes extra $60M payment to W.Va.
A company created to take privatize West Virginia's workers' compensation insurance program says it has made an extra $60 million payment on a state loan. (Fri, 01 Aug 2008 17:18:01 GMT)
Sector roundup: Insurance, forest products
After rallying earlier in the week, insurance company stocks traded mixed Friday despite word of bond insurer Ambac Financial Group Inc. settling one of its largest exposures to risky collateralized debt obligations. (Fri, 01 Aug 2008 21:31:58 GMT)
Insurance agent arrested for pocketing premiums
A Powder Springs insurance agent was arrested Friday for pocketing about $7,000 in premiums instead of paying insurance companies for coverage, state Insurance Commissioner John W. Oxendine said. Ellery Butler, 49, was charged with three counts of insurance fraud. Oxendine said Butler worked for Eternity Insurance Agency on Dallas Highway. (Fri, 01 Aug 2008 21:48:50 GMT)
With Insurance Lacking, Church Workers Rely on Faith
A recent study by the National Association of Evangelicals found that thousands of pastors and church staff members are among the millions of Americans without adequate health insurance (Fri, 01 Aug 2008 23:40:56 GMT)
Allstate expected to bid for RBS insurance unit: report
U.S. insurer Allstate Corp is expected to submit a bid for Royal Bank of Scotland's insurance arm, but the offer could be below what the bank expects, the Financial Times website reported on Friday. (Sat, 02 Aug 2008 01:56:23 GMT)
House District 67 GOP Race Focuses On Insurance, Taxes
The two Republicans seeking the District 67 State House seat agree more attention must be paid to the state's economy and the high costs of property taxes and homeowners insurance. (Sat, 02 Aug 2008 04:22:26 GMT)
Carcieri delays imposition of higher insurance payments for state workers
PROVIDENCE — Bowing to the request of a Superior Court judge, Governor Carcieri agreed yesterday to delay putting into effect his plan to immediately impose higher health-insurance costs on thousands of unionized state employees who overwhelmingly rejected a contract proposal. (Sat, 02 Aug 2008 05:36:19 GMT)
Abu Dhabi National Insurance Co. P.S.C. 'A-' rating assigned; outlook stable
Standard & Poor's Ratings Services said today that it assigned its 'A-' insurer financial strength and counterparty credit ratings to United Arab Emirates-based insurer Abu Dhabi National Insurance Co. P.S.C. (ADNIC). (Sat, 02 Aug 2008 07:54:23 GMT)
How do you save money on insurance?
How do you save money on insurance? Share your tips here: AP videos require Macromedia Flash Player 7 and Windows Media Player 10. (Sat, 02 Aug 2008 10:34:18 GMT)
Insurance department set to release State Farm review
Mississippi's insurance commissioner says a long-awaited review of State Farm's handling of insurance claims after Hurricane Katrina is nearly complete. (Sat, 02 Aug 2008 14:44:10 GMT)
An insurance policy for stormy times
Most Americans have auto insurance, health insurance, dental insurance, homeowners or renters insurance, life insurance, maybe disability... (Sun, 03 Aug 2008 07:14:57 GMT)
SUSAN TOMPOR: You can extend FDIC insurance past 1st $100,000
OK, more likely than not, you don't need easy access to $50 million in FDIC insurance. But some Michigan banks and others nationwide are promoting a one-stop banking solution for small-business owners, nonprofit organizations, retirees and others who demand FDIC insurance when they invest huge sums in certificates of deposits. (Sun, 03 Aug 2008 07:27:00 GMT)
Don't need insurance? Cash it in
BY MEG GREEN Q: I am 61 and have no heirs. I am in good health and I have several small insurance policies and a larger term-insurance policy of $100,000. (Sun, 03 Aug 2008 07:53:23 GMT)
Umbrella insurance buys more peace of mind
CHICAGO -- Most Americans have auto insurance, health insurance, dental insurance, homeowners or renters insurance, life insurance and perhaps disability insurance. (Sun, 03 Aug 2008 08:04:03 GMT)
Install 'black box' on car, lower insurance
A high-tech monitoring device makes it possible to reduce insurance premiums for drivers who avoid jackrabbit starts and slam-on-the-brakes stops, an insurance company says. (Sun, 03 Aug 2008 09:41:04 GMT)
Motorbike insurance varies
Q: I want to buy a motorcycle or scooter to commute and save on gas. What are my options for insurance coverage, and which bikes would give me cheaper premiums? (Sun, 03 Aug 2008 10:04:55 GMT)
Here are some options for motorcycle insurance
Q. I want to buy a motorcycle or scooter to commute to work and save money on gas. What are my options for insurance coverage, and which bikes would give me cheaper premiums? (Sun, 03 Aug 2008 11:10:41 GMT)
Five Ways to Cut Auto Insurance Costs this Summer
(ARA) - With gas prices expected to remain high this summer, it makes sense to save as much as possible on other vehicle-related expenses, such as insurance. (Sun, 03 Aug 2008 13:46:39 GMT)
Small companies dominate Florida insurance market
The popular notion is that Florida's insurance market is dominated by the likes of State Farm, Allstate and Nationwide as well as Citizens Property Insurance, the state-run insurer. (Sun, 03 Aug 2008 14:15:24 GMT)
GSIS to enter into compromise deal on car-insurance policy
STATE-RUN Government Service Insurance System, Insurance Commission and Land Transportation Office and the private Philippine Insurers and Reinsurers Association will enter into a compromise agreement on a case involving the compulsory third-party liability (CTPL) an insurance policy covering car owners. (Sun, 03 Aug 2008 14:42:53 GMT)
Insurance companies roll out plans for driving-habit monitors
A high- tech monitoring device makes it possible to reduce insurance premiums for drivers who avoid jackrabbit starts and slam-on-the- brakes stops, an insurance company says. (Mon, 04 Aug 2008 05:02:30 GMT)
Health insurance ambition narrows
Schwarzenegger seeks a deal to cap profits, set minimum benefits and limit cancellations on individual policies. Seeking to salvage two years of efforts to completely remake California's health insurance system, Gov. Arnold Schwarzenegger and Democratic legislators are nearing deals intended to rein in costly, meager medical insurance policies sold directly to individuals. ... (Mon, 04 Aug 2008 07:17:22 GMT)
Insurance companies in overdrive
Insurance companies across the country are working in overdrive dealing with the enormous amount of storm related claims. Insurance Council Chief Executive Chris Ryan says many claims are for damaged to properties caused by long term rain. (Mon, 04 Aug 2008 09:15:28 GMT)
Small companies dominate Florida insurance market
The popular notion is that Florida's insurance market is dominated by the likes of State Farm, Allstate and Nationwide as well as Citizens Property Insurance, the state-run insurer. (Mon, 04 Aug 2008 11:08:32 GMT)
Delaware Amends Insurance Law to Let Retired Surgeons Serve Veterans
A new Delaware law makes it easier for some retired doctors to practice for the Veterans Affairs Hospital in Elsmere. The legislation eliminates an insurance barrier preventing retired surgeons fr (Mon, 04 Aug 2008 11:47:14 GMT)
Florida-based LassiterWare Insurance Announces Restructuring
Ted Ostrander, president and CEO of Leesburg, Florida-based LassiterWare Insurance, recently announced a new organizational structure for the agency. Divided into four core divisions, each divisi (Mon, 04 Aug 2008 13:02:07 GMT)
N.J. Chief Goldman Calls States 'Adept Stewards' of Insurance Markets
New Jersey Banking and Insurance Commissioner Steven M. Goldman, testified in Washington on behalf of the National Association of Insurance Commissioners (NAIC) regarding the strength and effectivenes (Mon, 04 Aug 2008 13:31:57 GMT)
Delaware Enacts Insurance Laws on Weather Claims, Firefighters, Teens
Delaware has new laws protecting homeowners from insurance policy cancellations, clearing the way for more surgeries at Delaware's veterans hospital, allowing teens in foster care to get drivers licen (Mon, 04 Aug 2008 13:47:23 GMT)
Mississippi Insurance Department Set to Release State Farm Review
Mississippi's insurance commissioner says a long-awaited review of State Farm's handling of insurance claims after Hurricane Katrina is nearly complete. Commissioner Mike Chaney said Aug. 1 that h (Mon, 04 Aug 2008 14:01:56 GMT)
Nigeria: Standard Alliance Insurance Pays N308.09 Million Claims in 2008
The Standard Alliance Insurance Plc says that total claims paid by the company for the year ended December 31, 2008 was N308.09 million. (Mon, 04 Aug 2008 14:08:20 GMT)
Barclays Sells Life-Insurance Business to Swiss Re (Update1)
Aug. 5 (Bloomberg) -- Barclays Plc , the U.K.'s third-biggest bank, agreed to sell its U.K. life-insurance unit to Swiss Reinsurance Co. for 753 million pounds ($1.5 billion) as it seeks to fund growth in faster-growing overseas markets. (Tue, 05 Aug 2008 05:57:35 GMT)
Swiss Re Buys Barclays Insurance Unit for $1.48 Billion
The world’s largest reinsurer Swiss Re agreed to buy Barclays ‘ life insurance arm for 753 million pounds ($1.48 billion) to boost its Admin Re business in Britain. (Tue, 05 Aug 2008 10:32:23 GMT)
Is Low-Cost Health Insurance Worth It?
Infomercial king Billy Mays, known for screaming about the wonders of cleaning solutions Kaboom!, OxiClean, and other household products, is now starring in a commercial for what he calls "the most important product I've ever endorsed:" health insurance. The bearded salesman started pitching iCan Benefit Group's "health insurance that you can actually afford" in May 2008, pointing to the need ... (Tue, 05 Aug 2008 12:08:41 GMT)
San Jose man gets prison for insurance fraud
A San Jose man will be serving time in prison after admitting to running an auto insurance fraud ring. Read comments (Tue, 05 Aug 2008 13:19:25 GMT)
Allstate settles with California insurance commissioner on homeowners' coverage
The insurer agrees not to oppose a 28.5% rate cut, while Steve Poizner drops an effort to seek refunds for policyholders who might have paid too much in recent years. California Insurance Commissioner Steve Poizner has quietly dropped an effort to seek refunds for Allstate Corp. policyholders who might have paid too much for their homeowners' coverage in recent years. Critics immediately ... (Tue, 05 Aug 2008 13:31:33 GMT)
Marlboro man gets nine years for auto-insurance fraud
The owner of a defunct Red Bank auto body shop was sentenced Monday to nine years in federal prison for his leadership role of a million-dollar automobile insurance fraud, bank fraud and money laundering scheme, authorities said. John V. Cotona, aka John Bruno, 39, of Marlboro, was also ordered by U.S. District Judge Joel A. Pisano to pay $1.275 million in restitution and to serve five years of ... (Tue, 05 Aug 2008 14:10:46 GMT)
Feds asked to probe ND Insurance Dept seniors ad
North Dakota's Democratic congressional delegation wants a probe of whether Republican Insurance Commissioner Adam Hamm broke any rules by appearing in Insurance Department ads that were financed by a federal grant. (Tue, 05 Aug 2008 14:13:51 GMT)
Insurance Specialty Group And Home Buyers Warranty Corp. Sign Five-Year Agreement
Insurance Specialty Group LLC and Home Buyers Warranty Corp. signed a five-year strategic alliance agreement for the marketing, underwriting and servicing of the Asset Protection Program (APP). Under (Tue, 05 Aug 2008 14:16:47 GMT)
Auto insurance goes to the dogs
First it was health insurance. Now it seems auto insurance is going to the dogs. And cats. In a change enacted Aug. 1, all new Farmers Insurance Group customers in Minnesota will have $600 in coverage added to their policies to cover costs related to the injury or death of a household pet in the event of an accident or theft (Tue, 05 Aug 2008 14:19:37 GMT)
Fargo insurance agent accused of stealing $5 million from clients, charged with 78 felonies
FARGO - Cass County prosecutors have charged an insurance agent here with 78 felonies accusing him of stealing more than $5 million from clients. Advertisement: JobsHQ Get a personalized video for your business Set up a JobsHQ Featured Employer account and get a video created for your business. Contact info@jobsHQ.com for more information (Tue, 05 Aug 2008 14:56:09 GMT)
Old Mutual First-Half Profit Rises 14% on Gains in Insurance
Aug. 6 (Bloomberg) -- Old Mutual Plc , the London-based insurer that makes most of its money in South Africa, said first- half profit rose 14 percent after stock-price declines hurt higher insurance revenue. (Wed, 06 Aug 2008 06:40:28 GMT)
Two insurance carriers are fined for violations
State regulators on Tuesday fined two insurance carriers a total of more than $542,000 for violating a variety of rules designed to protect consumers. Among other things, the companiesRocky Mountain Hospital and Medical Service Inc. and HMO Colorado Inc. — failed to maintain required records, provide coverage to newborns or, in some cases, settle claims in a timely manner, according to insurance ... (Wed, 06 Aug 2008 07:14:52 GMT)
State refuses Florida Farm Bureau insurance rate increase: What's next?
Florida Farm Bureau is contemplating its next move now that the Office of Insurance Regulation has rejected the company's request to raise its property-insurance rates. (Wed, 06 Aug 2008 08:25:04 GMT)
XL Insurance Offers Specialized Environmental Program
XL Insurance, XL Capital Ltd's global insurance operation, has announced the availability of a specialized environmental insurance program that addresses pollution liability and clean-up expenses for (Wed, 06 Aug 2008 13:17:08 GMT)
Best Makes Results of Car-Insurance Buyer Survey Available
In a new service A.M. Best is providing consumers with a way to learn which companies scored highest in consumer satisfaction among new car insurance buyers. All an interested party has to do is vi (Wed, 06 Aug 2008 13:17:18 GMT)
Ohio Official Predicts Slight Increase in Auto Insurance Rates
An Ohio official is forecasting slight increases in auto insurance rates through the end of this year and larger increases in homeowners premiums. State Insurance Director Mary Jo Hudson revealed (Wed, 06 Aug 2008 13:47:03 GMT)
Fair Isaac Blaze Advisor Earns Prestigious Insurance Industry Award
Fair Isaac Corporation (NYSE: FIC), the leading provider of analytics and decision management technology, announced that it has received the Innovative Implementation Award from The Association for Co-Operative Operations Research and Development (ACORD), the worldwide insurance industry standards body. The award was announced at the 2008 ACORD-LOMA Insurance Systems Forum in Las Vegas. (Wed, 06 Aug 2008 14:27:48 GMT)
Geico drops car insurance rate hike
Geico, the largest provider of auto insurance in the state, has agreed to withdraw a rate increase request for New York drivers. (Wed, 06 Aug 2008 14:42:58 GMT)
Georgia Insurance Agent Arrested for Allegedly Pocketing Client Premiums
Georgia Insurance Commissioner John W. Oxendine said authorities arrested a Powder Springs insurance agent for allegedly pocketing his clients' premiums instead of paying insurance companies for cover (Wed, 06 Aug 2008 14:46:50 GMT)
Gas prices may squelch NY insurance hikes
Geico, New York's biggest auto insurer, is holding the line on rates. The company has withdrawn a rate increase request for most of its customers in the state after regulators questioned how higher gas prices are reducing auto travel, Insurance Superintendent Eric Dinallo said Wednesday. (Wed, 06 Aug 2008 22:44:16 GMT)
Oversea-Chinese Net Falls 20% on Insurance Earnings (Update1)
Aug. 7 (Bloomberg) -- Oversea-Chinese Banking Corp., owner of Singapore's biggest life insurer, posted a 20 percent fall in second-quarter profit as earnings from its insurance unit Great Eastern Holdings Ltd. declined. (Thu, 07 Aug 2008 05:35:54 GMT)
Website lets insurance buyers check for complaints.
Colorado consumers looking to purchase insurance can check whether the company they are doing business with has a history of complaints. (Thu, 07 Aug 2008 07:04:45 GMT)
Hayward man accused of arson, insurance fraud
HAYWARD, Wis. - A Hayward man faces federal charges after being accused of hiring someone to burn down his business to collect the insurance money. Thirty-eight-year-old Phillip Lanthrop is charged in a six-count indictment with arson and insurance fraud. (Thu, 07 Aug 2008 12:43:30 GMT)
Getting low-cost insurance for your children
The San Miguel family searched for low cost insurance and came across two options Children's Medicaid and the Children's Health Insurance Program or CHIP. (Thu, 07 Aug 2008 13:03:34 GMT)
Governor narrows insurance focus to children
SANTA FE (AP) - Governor Richardson wants this month’s special legislative session to focus on health insurance for children. Originally he proposed insuring the 400,000 New Mexicans who lack health coverage. (Thu, 07 Aug 2008 13:13:20 GMT)
Less Driving Means Lower Insurance Rates
There aren't too many pluses when it comes to the outrageous gas prices we're all paying, but they are keeping insurance rates down. New York's auto insurance rates are the third highest in the country. (Thu, 07 Aug 2008 14:09:52 GMT)
N. D. Insurance Agent Accused of $5 Million Theft From Clients
A judge has set bail at $100,000 cash or bond for a Fargo insurance agent accused of stealing more than $5 million from clients. Larry Atkins, 65, appeared on Aug. 5 in East Central District Court (Thu, 07 Aug 2008 14:31:47 GMT)
Ron Davis Named Zurich Financial Services' Head of Customer Management for General Insurance
Zurich, a leading property and casualty insurance provider, announced today that Ron Davis has been appointed executive vice president and head of customer management for General Insurance, effective immediately. (Thu, 07 Aug 2008 14:55:43 GMT)
2008 Best's Insurance Reports Now Available
A.M. Best Co. has released the 2008 editions of Best's Insurance Reports(R) - Life/Health and Property/Casualty - United States & Canada. This standard-setting financial resource provides in-depth analysis and commentary on thousands of U.S. and Canadian insurance companies. (Thu, 07 Aug 2008 14:56:33 GMT)
German Net Pay May Shrink on Social Insurance Changes, FAZ Says
Aug. 8 (Bloomberg) -- Germany's top wage earners may take home less pay next year because a larger portion of their wage may be subjected to social insurance contributions, the Frankfurter Allgemeine Zeitung said on its Internet site. (Fri, 08 Aug 2008 07:40:53 GMT)
Vital signs for national health insurance
Headlines about job losses and a slumping economy sharpen interest in universal health-insurance coverage. (Fri, 08 Aug 2008 09:10:56 GMT)
Insurance benefits postponed
CARSON CITY -- A panel that oversees the state health insurance plan voted Thursday to delay an effort to offer benefits to domestic partners . (Fri, 08 Aug 2008 09:55:39 GMT)
Conn. Insurance Execs Rake in the Scratch
Connecticut’s highest-paid insurance executive is also the highest-paid exec in the industry nationally: Stamford-based W.R. Berkley’s William Robert Berkley raked in $27 million in total compensation in 2007. (Fri, 08 Aug 2008 10:11:08 GMT)
Private insurers claim success in stopping spread of fake car insurance
MANILA, Philippines - Insurance firms claimed the existing insurance system has succeeded in curbing the proliferation of fake compulsory third party liability (CTPL) policies for motor vehicles. (Fri, 08 Aug 2008 10:43:20 GMT)
Just How Good is Low-Cost Health Insurance?
The lure of low premiums may be an attraction, but the kind of health insurance touted in infomercials probably offers only limited coverage, and could leave you with big bills if you are hospitalized. (Fri, 08 Aug 2008 12:31:06 GMT)
Zurich Names Davis Executive VP - General Insurance
Zurich announced from its Illinois headquarters that Ron Davis has been appointed executive vice president and head of customer management for General Insurance, effective immediately. Davis, who p (Fri, 08 Aug 2008 12:47:12 GMT)
SMB Disaster Recovery Insurance Plan
It isn't easy adopting a comprehensive disaster recovery (DR) strategy if you are in the SMB category. As Memphis-based Lipscomb & Pitts Insurance LLC has a little over 100 employees, it can only afford to have one or two people in IT. (Fri, 08 Aug 2008 13:24:08 GMT)
Insurance agent to pay Ohio school $372,500
A Columbus insurance agent accused of unfair business practices has agreed to pay $372,500 to a school district as part of a settlement. (Fri, 08 Aug 2008 14:15:46 GMT)
Nationwide Insurance(R) Announces New African American Advertising Agency of Record
Nationwide Insurance announced that Carol H. Williams Advertising agency is now its African American agency of record. The agency will help Nationwide enhance its reach to African American consumers with print, broadcast and on-line advertising campaigns, and provide insight on how Nationwide's life, property and car insurance services can better serve the African American community. (Fri, 08 Aug 2008 14:26:23 GMT)
Insurance weighs on Berkshire Hathaway's 2Q profit
Berkshire Hathaway Inc. reported an 8 percent decline in second-quarter profit Friday because it collected fewer insurance premiums and recorded $1 billion in unrealized derivative losses. Billionaire Warren Buffett's company said it generated $2.9 billion in... (Fri, 08 Aug 2008 22:43:06 GMT)
Berkshire Net Falls 7.6% to $2.9 Billion on Insurance (Update3)
Aug. 8 (Bloomberg) -- Billionaire investor Warren Buffett 's Berkshire Hathaway Inc. posted its third consecutive profit decline on slowing returns from insurance. (Fri, 08 Aug 2008 23:28:00 GMT)
Insurance weighs on Berkshire Hathaway's 2Q profit
Berkshire Hathaway Inc. reported an 8 percent decline in second-quarter profit Friday because it collected fewer insurance premiums and recorded $1 billion in unrealized derivative losses. (Sat, 09 Aug 2008 00:22:44 GMT)
Berkshire Net Falls 7.6% to $2.88 Billion as Insurance Slumps
Aug. 9 (Bloomberg) -- Billionaire investor Warren Buffett 's Berkshire Hathaway Inc. posted its third straight profit decline as lower rates pressured results in insurance operations. (Sat, 09 Aug 2008 05:12:54 GMT)
AG: Supervisors' insurance is legal
ACCOMAC -- Accomack County is within its legal rights to pay for a top-shelf health-insurance benefit for members of its Board of Supervisors and two county employees, according to an opinion issued by Virginia's Attorney General this week. (Sat, 09 Aug 2008 08:34:10 GMT)
DHH launching back-to-school insurance drive
BATON ROUGE, La. -- The state health department is spearheading a back-to-school campaign to encourage parents to enroll their children in the state's public health insurance programs. (Sat, 09 Aug 2008 09:25:28 GMT)
Four charged with insurance fraud
Four Erie County residents have been charged with insurance fraud and conspiracy to commit insurance fraud after they allegedly dumped a sport utility vehicle into Lake Erie to collect on the car insurance, according to the state Insurance Department. (Sat, 09 Aug 2008 09:55:54 GMT)
Insurance: State Farm hearing Tuesday
State insurance officials on Tuesday will hold a hearing in Tallahassee to consider the request from State Farm, Florida's largest private property insurer, to boost its rates by 47.1 percent on average statewide. (Sat, 09 Aug 2008 13:48:45 GMT)
Speeding insurance revs up
A CONTROVERSIAL new insurance against losing your drivers licence has had an overwhelming response from Queensland motorists. (Sat, 09 Aug 2008 14:00:00 GMT)
Speeding insurance revs up
A NEW insurance policy that pays a transport allowance to drivers who lose their licence for speeding has had an overwhelming response from Queensland motorists. (Sat, 09 Aug 2008 14:00:00 GMT)
Floodwaters ebb, leaving a change in insurance law
After floods hit southeastern Minnesota last summer, many homeowners lamented: They lacked flood insurance because their agents told them they weren't eligible because they didn't live in a floodplain. (Sun, 10 Aug 2008 05:10:35 GMT)
Landlord's insurance won't cover renter's loss
Question: I am moving into a new rental house and the landlord's rental agreement requires me to get renter's insurance. Why should I have to pay for that? Shouldn't the landlord have insurance that covers my stuff in case the house burns down? (Sun, 10 Aug 2008 07:12:46 GMT)
You can extend FDIC insurance past $100,000
OK, more likely than not, you don't need easy access to $50 million in FDIC insurance. But some banks are promoting a one-stop banking solution... (Sun, 10 Aug 2008 07:26:37 GMT)
Kingston to purchase health insurance from Benecon for 2009
The Municipality of Kingston will purchase its health insurance next year through a South Central Pennsylvania cooperative for municipal employees, municipal manager Paul Keating said. (Sun, 10 Aug 2008 08:27:06 GMT)
Motorbike insurance options explored
I want to buy a motorcycle or scooter to commute to work and save money on gas. What are my options for insurance coverage, and which bikes would give me lower premiums? (Sun, 10 Aug 2008 08:52:47 GMT)
At Insurance, Kreidler
We endorse Mike Kreidler, not Curtis Fackler, for Insurance Commissioner. (Sun, 10 Aug 2008 09:10:27 GMT)
Insurance rep to explain claims against city at council meeting Tuesday
A Wisconsin League of Municipalities Mutual Insurance representative on Tuesday will ensure that the Oshkosh Common Council has all the facts about insurance claims filed against the city. (Sun, 10 Aug 2008 09:20:29 GMT)
Using different accounts can increase deposit insurance
It's widely known that the Federal Deposit Insurance Corp. provides insurance up to $100,000 per account if a bank fails. (Sun, 10 Aug 2008 10:14:33 GMT)
Mr Justice Consumer Advice: Double trouble in floor tile flood insurance row
A ROW has broken out over repairs to a bathroom floor damaged by flooding. Phil Cook’s insurance company paid for the repairs about a year ago but he says some tiles have recently cracked. He said: “I am not willing to pay again when I think it’s faulty workmanship.” (Sun, 10 Aug 2008 10:58:27 GMT)
Insurance weighs on Berkshire Hathaway's 2Q profit
By JOSH FUNK OMAHA, Neb. (AP) -- Berkshire Hathaway Inc. reported an 8 percent decline in second-quarter profit Friday because it collected fewer insurance premiums and recorded $1 billion in unrealized derivative losses. (Sun, 10 Aug 2008 13:12:19 GMT)
On the Move: Keith Schuler named CEO of InterWest Insurance Services
InterWest Insurance Services has named Keith Schuler chief executive officer and Eric Tudor assistant director for the workers' compensation claim services department. InterWest is an independently owned commercial insurance brokerage firm in the region. Schuler Graham Matayoshi Edwards Bartholomew Tonis (Mon, 11 Aug 2008 07:05:02 GMT)
The £200m racket of gangs who stage road accidents and claim insurance
Thousands of motorists are falling victim to a potentially lethal 'cash for crash' insurance scam. It involves criminals deliberately staging road accidents. (Mon, 11 Aug 2008 08:05:36 GMT)
Car insurance premiums going up for Illinois drivers
Car insurance companies in Illinois, facing higher medical bills and disappearing returns from investments, are looking to policyholders to boost their profits. (Mon, 11 Aug 2008 09:02:58 GMT)
Reduce insurance costs, not benefits
Want to lower your insurance costs without losing benefits? Chances are, all you have to do is ask. (Mon, 11 Aug 2008 10:00:00 GMT)
Reduce insurance costs without losing benefits
If you want more insurance for less, you might be able to have it. In fact, sometimes, all you have to do is ask. Tell your agent you want to lower your premiums without losing any of the benefits, and chances are good that he or she can find a way. (Mon, 11 Aug 2008 11:02:42 GMT)
Whittington Completes Sale of Americas Insurance to ISG Acquisition
The Singapore-based Whittington Group announced that it has completed the sale of Americas Insurance Company, its non-core US insurer in run-off, to ISG Acquisition II LLC, the specialist acquisition (Mon, 11 Aug 2008 11:47:07 GMT)
Aviva launches two unit linked insurance plans
Aviva Life Insurance today launched two unit linked insurance plans (ULIPS) — Aviva Sachin Century Plan and Aviva Lifeline. Both the plans are designed to provide multiple benefits through life insurance and investment to two different customer segments, the company said in a release here. (Mon, 11 Aug 2008 13:22:31 GMT)
Car insurance rates going up Moncton, Saint John
Drivers from Moncton, Saint John and the Acadian Peninsula in northeastern New Brunswick can expect their insurance rates to go up. (Mon, 11 Aug 2008 14:17:53 GMT)
Eastern Insurance Acquires Kittredge Insurance Agency
Natick, Massachusetts-based Eastern Insurance Group has acquired Northborough, Mass.-based Kittredge Insurance Agency Inc. Eastern Insurance, part of Eastern Bank, said the acquisition increases i (Mon, 11 Aug 2008 14:46:48 GMT)
No License, No Insurance for Bus in Texas Crash That Killed 17
The operator of the tour bus that wrecked in an accident that killed 17 members of a Houston church Aug. 8 was not legally licensed and had no insurance. In addition to the fatalities, 40 people were (Mon, 11 Aug 2008 14:46:58 GMT)
More Turn to Professional Groups for Insurance
Small-business owners and individuals without job-based insurance are turning to professional associations and trade and affinity groups that offer grouplike health coverage to their members. (Tue, 12 Aug 2008 03:26:06 GMT)
Insurance rate cut may turn into hike
When Edgar Wilson qualified for mitigation credits for his Fort Lauderdale home, his State Farm insurance premium dropped by more than half to $1,467, and he was able to reduce his deductible to 2 percent. (Tue, 12 Aug 2008 07:24:12 GMT)
Conseco shares up on trust transfer :Ailing health insurance unit would be spun off as separate company.
CARMEL, Ind. -- Shares of Conseco Inc. jumped Monday after the company said it would move Conseco Senior Health Insurance Co. to an independent trust, separating the ailing unit. (Tue, 12 Aug 2008 11:14:31 GMT)
Pennsylvania Hands Out $600k in Insurance Fines
The Pennsylvania Insurance Department said it assessed nearly $600,000 in penalties last quarter to entities and individuals found guilty of violating insurance laws. Those fines stem from 35 enfor (Tue, 12 Aug 2008 11:16:47 GMT)
Kenya: Alarm Over Fake Insurance Agents
The Insurance Regulatory Authority has warned the public against buying insurance through brokers or agents who do not have licence for 2008. (Tue, 12 Aug 2008 11:24:22 GMT)
State Farm Seeks Insurance Spike
State Farm wants to raise its insurance rates by nearly 50 percent. Company officials will go before Florida insurance regulators to make the request. (Tue, 12 Aug 2008 12:15:00 GMT)
Compare medical insurance plans online
You can even shop online for medical care. These sites tell how to compare insurance plans. Many link to services that provide quotes for health insurance plans of all stripes. How to compare To decide on health insurance, you have to know first off what your employer, or your spouse's employer, is offering for coverage. This brief guide says "the easiest and the best options" are those ... (Tue, 12 Aug 2008 14:37:22 GMT)
Uganda: Liberty Insurance to Help Create Wealth
LIBERTY Life Insurance is to offer a comprehensive range of financial products and services to support individuals and companies in the building and protection of long-term wealth. (Tue, 12 Aug 2008 14:39:40 GMT)
Compare medical insurance plans online
You can even shop online for medical care. These sites tell how to compare insurance plans. Many link to services that provide quotes for health insurance plans of all stripes. (Tue, 12 Aug 2008 14:40:39 GMT)
Insurance Group Seeks Rebate Resolution in Iowa
Iowa's law on insurance rebates is clear, and the Des Plaines, Ill.-based the Property Casualty Insurers Association of America (PCI). The national group is urging the Insurance Commissioner Susan Vos (Tue, 12 Aug 2008 14:47:02 GMT)
Will Filing An Insurance Claim Raise Your Rates?
An accident can mean higher insurance costs - even if it wasnt your fault. (Tue, 12 Aug 2008 22:47:32 GMT)
State's drivers can monitor driving habits with black box' for insurance rates
Alabama is among the first states in the nation where an auto insurance company is rolling out a new technology that has privacy advocates concerned. (Wed, 13 Aug 2008 08:50:32 GMT)
3rd Chicago cop charged in insurance fraud case
A widening federal probe into cops taking payoffs tied to insurance or towing scams has led to fraud charges against a third officer. The probe could reach at least a dozen police officers, sources have said. (Wed, 13 Aug 2008 09:05:56 GMT)
Not your typical insurance policy
If you think the rich and famous aren't that different from the rest of us, read their insurance policies. (Wed, 13 Aug 2008 10:00:00 GMT)
GPS-based car insurance faces security concerns
Angelica Mari, Computing , Wednesday 13 August 2008 at 12:21:00 Potential issues related to security, data management and cost of systems hamper future uptake of GPS use in the car insurance industry The adoption of GPS technology for underwriting processes in the automotive industry may present potential security concerns. While wrong use of data could have an adverse effect in ... (Wed, 13 Aug 2008 11:44:35 GMT)
Digital Insurance Completes 16 Acquisitions During First Half of 2008
Digital Insurance, Inc. (www.digitalinsurance.com), the nation's fastest-growing employee benefits agency in the small group insurance market, acquired 16 agencies or blocks of their accounts during the first half of 2008. This activity further bolsters the company's expansion in this specialized niche. (Wed, 13 Aug 2008 13:42:05 GMT)
Atlanta-based Digital Insurance Completes 16 Acquisions in 2008
Atlanta-based employee benefits agency, Digital Insurance Inc., acquired 16 agencies or blocks of their accounts during the first half of 2008. Digital provides business segmentation and successi (Wed, 13 Aug 2008 14:01:54 GMT)
County board members get reduced insurance
The seven-member Saginaw County Officers Compensation Commission will live on, while members of the County Board of Commissioners will receive reduced health insurance benefits that exclude family members. (Wed, 13 Aug 2008 14:28:16 GMT)
A.M. Best Assigns Ratings to Companion Specialty Insurance Company
A.M. Best Co. has assigned a financial strength rating (FSR) of A (Excellent) and an issuer credit rating (ICR) of "a" to Companion Specialty Insurance Company (Specialty) (District of Columbia). The outlook for both ratings is stable. (Wed, 13 Aug 2008 14:29:41 GMT)
Some couples marrying for health insurance
NEW YORK, Aug. 13 (UPI) -- A health policy research group says a poll it conducted this spring indicates health insurance is the reason some U.S. residents are getting married. (Wed, 13 Aug 2008 14:35:31 GMT)
What You Need To Know About Student Health Insurance
Before heading off to college, read up on health insurance plans. (Wed, 13 Aug 2008 20:03:25 GMT)
GPS maps insurance market
Insurance companies are relying on GPS-based systems to simplify processes, but the technology has yet to overcome integration and data security challenges. (Thu, 14 Aug 2008 05:30:02 GMT)
Health insurance trade group meets Detroiters
Six women met at Second Ebenezer Church in Detroit Wednesday at the request of the health insurance industry group AHIP, America's Health Insurance Plans. They talked to Chief Executive Karen Ignagni about their health care and insurance issues. (Thu, 14 Aug 2008 07:26:49 GMT)
PRESS RELEASE: Fitch Teleconference: UK Life Insurance - A Year Into The Credit Crunch
Fitch Ratings-London-14 August 2008: Fitch Ratings will discuss performance in the UK life insurance market a year into the current credit market situation, and examine the outlook for the sector in a teleconference on Monday 18 Aug at 14:30 BST. (Thu, 14 Aug 2008 08:40:21 GMT)
Long Thompson floats insurance co-op
Providing access to cheaper insurance should help small businesses prosper, according to Democratic gubernatorial nominee Jill Long Thompson. Long Thompson on Thursday announced her plan to create an insurance co-op for small businesses while speaking at Superior Water Conditioning in Fort Wayne. Photo caption: Democratic gubernatorial candidate Jill Long Thompson speaks Wednesday at ... (Thu, 14 Aug 2008 10:03:47 GMT)
Insurance cover for HIV/AIDS patients in Karnataka
India's fight against the AIDS epidemic has been taken a step further with a group health insurance plan for HIV-affected people in Karnataka. (Thu, 14 Aug 2008 13:23:58 GMT)
China's massive buying on brands, tech, oil, auto, banks, food, insurance, leadership
Is an exploding China and Asia century coming sooner than expected? Discover what is really inside Chinese and Asian stock market, multinationals, banking, yuan, insurance, management, and politics. (Thu, 14 Aug 2008 13:36:58 GMT)
PMI sells Australian mortgage insurance subsidiary
The PMI Group Inc. said Thursday it is selling its Australian mortgage insurance subsidiary to Australia's largest international general insurance and reinsurance group, QBE Insurance Group Ltd., for $920 million. (Thu, 14 Aug 2008 14:05:34 GMT)
Another Chicago Police Officer Charged with Insurance Fraud
Another Chicago police officer has been indicted in connection with a scheme to have his car towed away and declared stolen for insurance money. The U.S. attorney's office says Officer Scott Campb (Thu, 14 Aug 2008 14:16:48 GMT)
Illinois House OKs changes on taxes, insurance
The Illinois House on Wednesday approved new versions of legislation that Gov. Rod Blagojevich had rewritten to cut taxes for disabled veterans and lower insurance costs for college students. (Thu, 14 Aug 2008 14:58:07 GMT)
States won't be sanctioned over kids' health insurance
Reversing itself, the Bush administration said Thursday that states for now won't be penalized for failing to install restrictions making it harder for middle-income children to participate in a federal-state health insurance program. (Thu, 14 Aug 2008 21:01:39 GMT)
Children?s Health Insurance Decision
Reversing itself, the Bush administration said that states would not be penalized right now for failing to change a federal-state health insurance program to make it harder for middle-income children to enroll. (Fri, 15 Aug 2008 03:04:07 GMT)
Ankeny weighs insurance switch to save money
A possible move by the city of Ankeny to pay more insurance claims directly out of city coffers could save money, city officials said, although it would take a significant chunk of change to establish. (Fri, 15 Aug 2008 09:12:09 GMT)
Ping An Insurance First-Half Profit Drops on Stock Market Slump
Aug. 15 (Bloomberg) -- Ping An Insurance (Group) Co. , China's second-largest insurer, said first-half profit dropped as a slump in the nation's stock market crimped investment returns. (Fri, 15 Aug 2008 11:16:59 GMT)
S&P: MBIA, Ambac insurance off downgrade watch
Standard & Poor's said late Thursday it is no longer reviewing its ratings on the insurance arms of MBIA Inc. and Ambac Financial Group Inc. for downgrade, though it retained a negative outlook on both companies. (Fri, 15 Aug 2008 11:45:04 GMT)
Ping An Insurance Posts 2% Decline In First-half Net Profit
Ping An Insurance Posts 2% Decline In First-half Net Profit (Fri, 15 Aug 2008 12:16:09 GMT)
Standard & Poor's Affirms Double-A Rating for MBIA Insurance Corporation with Negative Outlook
MBIA Inc. (NYSE: MBI) today announced that Standard & Poor's Ratings Services (S&P) has affirmed the 'AA' financial strength rating of MBIA Insurance Corporation and removed it from CreditWatch with negative implications. All dependent ratings were affirmed as well. The outlook for the ratings is negative. (Fri, 15 Aug 2008 12:43:27 GMT)
Insurance sector may touch Rs 2 lakh cr by by 2010: Assocham
India's insurance sector may touch a level of Rs 2 lakh crore in the next two years in view of aggressive marketing techniques adopted by private insurance companies, a report said. (Fri, 15 Aug 2008 13:56:58 GMT)
Vero Beach man appointed to board of Citizens Property Insurance
William P. Corry of Vero Beach was appointed Friday to the board of Citizens Property Insurance Corp., Gov. Charlie Crist announced. (Fri, 15 Aug 2008 14:40:54 GMT)
I.D. Theft Case Sheds Light on Need for Insurance
Washington D.C. (WLTX) - In the wake of one of the largest identity theft ring busts in U.S. history, consumer protection agencies are urging citizens to protect themselves with insurance. (Fri, 15 Aug 2008 14:55:59 GMT)
Health insurance premiums have doubled
WASHINGTON, Aug. 15 (UPI) -- While the price of gas gets the headlines, the price of health insurance premiums has gone up by 100 percent since 1996, U.S. health officials said. (Fri, 15 Aug 2008 15:26:56 GMT)
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