Insurance News Sep 2008
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Having insurance can save renters anguish
As graduates and others enter the work force and set up their first apartments, renters insurance probably isn't a burning issue, but it still deserves attention. (Mon, 01 Sep 2008 05:45:29 GMT)
Highmark sees robust demand for short-term health insurance
Highmark Inc. is reporting robust interest in its new short-term health insurance product, the first of its kind offered in the region and reflective of a larger shift in the industry. (Mon, 01 Sep 2008 06:59:09 GMT)
North Pointe Insurance Co. stops writing insurance for Ariz. restaurants
Some Valley restaurant owners are worried their insurance premiums will skyrocket now that North Pointe Insurance Co. is pulling out of the Arizona market. (Mon, 01 Sep 2008 07:03:52 GMT)
Proper insurance coverage can protect small businesses in a disaster
Small-business owners dealing with damage caused by Hurricane Gustav or Tropical Storm Fay -- or this summer's Midwest flooding or California wildfires -- probably are feeling some regret because they didn't have adequate insurance coverage. And so the cost of salvaging a building or the business itself is falling squarely on them. (Mon, 01 Sep 2008 07:20:58 GMT)
Storms a reminder of potential damage :Insurance important for business owners.
NEW YORK -- Smal-business owners dealing with damage caused by Tropical Storm Fay -- or this summer's Midwest flooding or California wildfires -- are likely feeling some regret because they didn't have adequate insurance coverage. (Mon, 01 Sep 2008 11:04:56 GMT)
Insurance probe under way
If Cavalier Apartment residents should have been protected by county-paid flood insurance during last week's flooding, someone needs to pay up, Mecklenburg County Commissioners' Chairman Jennifer Roberts said Sunday. Who's responsible won't be known until the county determines which residents turned in their paperwork on time – but learned from the insurance company they weren't insured after ... (Mon, 01 Sep 2008 11:24:10 GMT)
Cabinet to decide soon on raising FDI cap in insurance
NEW DELHI: The Union Cabinet will soon take a decision on the insurance sector reforms which could possibly see hike in the foreign investment limit in private sector insurance companies from 26 per cent to 49 per cent. (Mon, 01 Sep 2008 13:55:46 GMT)
Man who faked his own death in £300,000 insurance scam caught out after his fingerprints were found on death certificate
An Afghan man forged his own death certificate so his British ex-wife could claim a £300,000 payout on their life insurance policy. (Mon, 01 Sep 2008 14:11:14 GMT)
Motor insurance profits rose in 2007
Figures from the Financial Regulator show that profits made by the insurance industry fell slightly last year, but motor insurance profits recovered after a sharp fall in 2006. The Insurance Statistical Review shows that total net profit in the industry was €704m, down from €718m in 2006. (Mon, 01 Sep 2008 14:20:07 GMT)
Insurance scam unravels when 'dead man' keeps a doctor's appointment
LONDON - As a dead man, Ahmad Akhtary shouldn't have needed a doctor's appointment. Akhtary's checkup, six months after he allegedly died in Afghanistan, scuttled his ex-wife's attempt to collect 300,000 pounds (US$550,000) on a life insurance policy. (Mon, 01 Sep 2008 14:44:30 GMT)
Group of Ministers clears Insurance Amendment Bill
(RTTNews) - The Group of Ministers cleared the Insurance Amendment Bill aimed at raising the foreign direct investment cap in the sector from 26% to 49%, media reported on Tuesday. After getting the Cabinet's nod, the bill will be introduced in the next session of the Parliament, the report said. (Tue, 02 Sep 2008 07:24:14 GMT)
Why renters insurance is crucial
-The population of renters across the country is growing, edged up in part by a slumping housing market. Yet as graduates and others enter the workforce and set up their first apartments, renters insurance probably isn't a burning issue. It's often only after... (Tue, 02 Sep 2008 07:33:34 GMT)
Take stock of your insurance
If you live in an area affected by hurricanes or other natural disasters, such as wild fires, tornados and floods, make sure you have the necessary insurance coverage for potential losses. (Tue, 02 Sep 2008 10:24:24 GMT)
Rules target insurance scam
A shady insurance scheme that started in Florida and Arizona, states chock full of vulnerable and often wealthy seniors, is starting to pop up here, Ohio Department of Insurance Director Mary Jo Hudson said. (Tue, 02 Sep 2008 10:43:55 GMT)
Carriers Protest Maryland Automobile Insurance Fund's Rates
Maryland's private auto insurance industry is objecting to a proposal by the state's insurer of last resort to lower rates as gasoline and food prices rise. At a hearing in Baltimore on Friday, ind (Tue, 02 Sep 2008 11:02:22 GMT)
Gustav Insurance Losses Significant but 'Manageable,' Less than Katrina's
Hurricane Gustav, which came ashore southwest of New Orleans on Monday morning, is expected to trigger significant insurance claims but far less than record-setting Katrina did three years ago. "Th (Tue, 02 Sep 2008 11:17:23 GMT)
KPMG's Global Insurance practice wins Best Accounting Firm of the Year 2008 award
For the second year running KPMG's Global Insurance practice was awarded Best Accounting Firm of the Year at the Reactions Global Awards Dinner ceremony in New York. (Tue, 02 Sep 2008 11:22:29 GMT)
Barclays mulls Spanish insurance stake sale
Barclays said it is considering selling a stake in its Spanish and Portuguese insurance business. (Tue, 02 Sep 2008 11:28:00 GMT)
Insurance office catches fire in Hunting Park
A fire broke out at a Philadelphia automotive insurance office this morning. (Tue, 02 Sep 2008 12:24:40 GMT)
HDFC Standard Life enters health insurance market
MUMBAI: HDFC Standard Life on Tuesday forayed into the health insurance market with the launch of its first health insurance product-HDFC Critical Care. (Tue, 02 Sep 2008 13:55:46 GMT)
Three insurance bosses are banned
Insurance customers could have been left without the cover they paid for after directors misused clients' money. (Wed, 03 Sep 2008 09:33:50 GMT)
Safety issues raise insurance fees
SILVER CREEK -- The safety record of Village of Silver Creek employees is going to cost the village more in the fees it has to pay to the county self-insurance program. (Wed, 03 Sep 2008 10:40:39 GMT)
Former NH insurance agent indicted on fraud charge
A federal grand jury has indicted a 53-year-old Bedford, N.H., man on charges he defrauded clients of his insurance agency. (Wed, 03 Sep 2008 12:03:10 GMT)
Insurance analysts eye coming storms
WASHINGTON, Sept. 3 (UPI) -- Insurance analysts say claims filed as a result of Hurricane Gustav will be expensive with other costly storms still likely to hit the United States this fall. (Wed, 03 Sep 2008 13:13:29 GMT)
How to optimize your auto insurance
We keep our cars tuned up, but what about our automobile insurance? Recently I had a chat with an insurance broker. The topic of conversation? Smart insurance buying. (Wed, 03 Sep 2008 13:24:34 GMT)
CFO of Aspen Insurance Holdings Limited to Participate In Lehman Brothers Financial Services Conference
Aspen Insurance Holdings Limited (NYSE:AHL) today announced that Richard Houghton, Chief Financial Officer, is scheduled to present at the Lehman Brothers Financial Services Conference on Wednesday, September 10, 2008 at 8:15 a.m. (ET). The conference is being held in New York City. (Wed, 03 Sep 2008 13:44:17 GMT)
Hudson Insurance Group Announces the Formation of a Crop Insurance Unit
Hudson Insurance Group ("Hudson"), the U.S. Insurance division of Odyssey Re Holdings Corp. (NYSE: ORH), today announced that it has purchased the assets pertaining to the crop insurance business of CropUSA Insurance Agency, Inc. ("CropUSA"). Since 2006 CropUSA has acted as managing general underwriter for Hudson in the crop insurance sector. As a result of this transaction, Hudson has hired the ... (Wed, 03 Sep 2008 13:58:07 GMT)
Beshear Announces Plan to improve Children's Health Insurance
Kentucky Gov. Steve Beshear has outlined a plan to get as many children as possible enrolled in the Kentucky Children’s Health Insurance Program (KCHIP) by 2010. (Wed, 03 Sep 2008 14:04:10 GMT)
Cotton States Insurance rewards employee fitness
The Olympics in Beijing have drawn to a close, but Katrina Jenkins is still going for the gold. The Lithonia resident has amassed nine gold "medals" during her employer's exercise challenge, and she plans to win a few more. For 31 days, employees at Cotton States Insurance are competing for Olympic-style honors based on their duration of physical activity. Employees earn bronze for 30-44 ... (Wed, 03 Sep 2008 14:17:43 GMT)
Ambac shares rally on go-ahead for new muni insurance unit
SAN FRANCISCO (MarketWatch) - Shares of Ambac Financial led financial sector gainers Wednesday, jumping 15% after the firm received regulatory approval to launch a new bond insurance business. (Wed, 03 Sep 2008 14:33:38 GMT)
Ky. to push child insurance
Calling it a "moral obligation," Kentucky Gov. Steve Beshear said yesterday that the state will work harder to sign up thousands of children who are eligible for a state health insurance plan. (Thu, 04 Sep 2008 08:55:03 GMT)
Q: The area I live in is at low risk for flooding. Do I need flood insurance?
A: The National Flood Insurance Program, www.floodsmart.gov, says it's a good idea to buy flood insurance even if you live in a low- or moderate-risk area. (Thu, 04 Sep 2008 08:56:36 GMT)
Auto Insurance Tips for Seniors; What You Need to Know
ONTARIO, Calif., Sept. 4 -- Life zips by, suddenly people who never thought they would get old are looking at changes in their lives and how they drive, says Frank N. Darras, the nation's leading disability and Long-Term Care insurance lawyer. (Thu, 04 Sep 2008 10:42:03 GMT)
South Carolina Insurance Commissioner Heeds Hanna's Build-up
As Tropical Storm Hanna strengthens and takes aim at the Carolinas, the South Carolina Department of Insurance reminds homeowners to review their insurance policies and brace for potential damage. (Thu, 04 Sep 2008 13:32:22 GMT)
City eyes requiring event insurance
Special events organizers in Cumberland could soon be required to have liability insurance for the duration of their event. (Thu, 04 Sep 2008 13:32:44 GMT)
Civil Service Employees Insurance Group Hires Bo Brown as Senior Territory Marketing Representative in Arizona
Civil Service Employees Insurance Group (CSE Insurance), a leader in providing civil service employees with quality protection at affordable rates, has hired Joseph "Bo" Brown as Senior Territory Marketing Representative for the state of Arizona. (Thu, 04 Sep 2008 13:41:56 GMT)
A.M. Best Affirms Ratings of First Net Insurance Company
A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of First Net Insurance Company (Guam). The outlook for both ratings is stable. (Thu, 04 Sep 2008 13:47:00 GMT)
Alabama Beach Pool Reports Progress on Coastal Insurance Issues
The Alabama Insurance Underwriting Association, a.k.a. the Beach Pool, released a progress report on a series of coastal insurance recommendations made by a state task force following Hurricane Ivan i (Thu, 04 Sep 2008 14:21:26 GMT)
Gambia: New Insurance Company in Town... As Life Insurance Services Get Introduced
As the Gambia's Insurance Industry continue to grow from strength to strength, couple with an increasing number of insurance service institutions in the country, another insurance company know as the Capital Express Assurance Company Gambia limited, which started operation in early August, this year, has also added its name to the long list of insurance companies. (Thu, 04 Sep 2008 14:42:26 GMT)
Children's insurance eased
The Kentucky Children's Health Insurance Program provides health, dental and eye insurance to children under 19 in families with low income. The program's looking for participants. (Fri, 05 Sep 2008 09:25:15 GMT)
Volvo City Safety Cuts Insurance Premiums - VIDEO STORY
GOTHENBURG - September 5, 2008: Volvo's City Safety technology, which is fitted as standard in the Volvo XC60, is of considerable interest to insurance institutes as helps cut the number and severity of low-speed rear-end collisions. (Fri, 05 Sep 2008 10:20:55 GMT)
Revenue agency prepares to impose new tax scheme on insurance industry
MANILA, Philippines - There is no turning back on the implementation of a new tax scheme for life and non-life insurance companies to ensure that the industry is properly tax, the Bureau of Internal Revenue (BIR) said. (Fri, 05 Sep 2008 10:27:05 GMT)
Max India Signs Pact With UK's BUPA For Health Insurance Biz
(RTTNews) - Private insurance-provider Max India has entered into a joint venture agreement with the UK-based British United Provident Fund or BUPA to set up a standalone health insurance company by name Max Bupa Health Insurance Ltd., media reported. (Fri, 05 Sep 2008 10:43:45 GMT)
NIIT To Foray Into Travel And Insurance Sectors
(RTTNews) - Software services provider NIIT Technologies is looking out for acquisitions in the travel and insurance sectors for growth, Arvind Thakur, chief executive officer, told media on Friday. (Fri, 05 Sep 2008 11:44:16 GMT)
Conn. AG Calls for Insurance Co.’s Surrender After Suit
The Connecticut Supreme Court has declined to rule on a Florida company’s efforts to block state Attorney General Richard Blumenthal from disclosing information he obtained while investigating the insurance industry. (Fri, 05 Sep 2008 12:14:58 GMT)
AIG Sees China General Insurance Business Growing
American International Group sees China becoming a much larger part of its general insurance business within the next five years, Nicholas Walsh, executive vice-president of the foreign general insura (Fri, 05 Sep 2008 13:02:51 GMT)
Insurance Agent Appointed to New York Workers' Comp Board
David Dickson, former president of the Professional Insurance Agents of New York State, has been appointed to the underwriting committee of the New York Compensation Insurance Rating Board. Dickso (Fri, 05 Sep 2008 13:47:58 GMT)
Wells Fargo Adds Managing Director of Insurance Operation in Atlanta
Wells Fargo Insurance Services Inc. added Emanuel (Manny) Lauria Jr. as managing director of its Atlanta office. Lauria will oversee all operations of the Atlanta office, including new business de (Fri, 05 Sep 2008 13:48:09 GMT)
S.C. Insurance News Service offers tips, list of claims phone numbers
As of this morning, most insurance companies and agents have stopped binding coverage for homeowners' insurance along the South Carolina coastal areas impacted by the hurricane watch. Consumers can still purchase wind and hail insurance as well as flood insurance, but wind and hail insurance has a fifteen-day waiting period. Flood insurance carries a thirty-day waiting period. (Fri, 05 Sep 2008 14:29:03 GMT)
Meadowbrook Insurance founder plans to retire
Insurance broker and risk-management consultant Meadowbrook Insurance Group Inc.'s founder and chairman, Merton Segal, is retiring from the company effective Sept. 30. (Fri, 05 Sep 2008 19:45:02 GMT)
Renters Insurance: That Was Easy
For the price and ease of getting renters insurance, there's no reason you shouldn't already have it. (Fri, 05 Sep 2008 21:19:17 GMT)
Police liability insurance at political conventions comes under fire
Organizers of the Republican convention were required by St. Paul, city officials to purchase a $10 million insurance policy to protect local police from false arrest and brutality lawsuits. (Sat, 06 Sep 2008 01:20:58 GMT)
College students with health insurance get a break from government
(WHAS11) - Congressman John Yarmuth was in town today to talk about the struggle young college students face when still on their parents health insurance policy. (Sat, 06 Sep 2008 03:07:55 GMT)
Legislator: Healthcare reform talk needs to shift beyond just having insurance to affordability
Until the conversation about healthcare reform moves from simply talking about who has and doesn't have insurance to Minnesotans' access to affordable healthcare coverage, Paul Thissen said the state is going to struggle to pass major reform, especially for rural areas. (Sat, 06 Sep 2008 06:44:16 GMT)
Paterson vetoes retiree insurance bill
ALBANY - Gov. David Paterson announced Friday he vetoed a bill that would have prevented local governments from cutting the amount they spend on health insurance for retirees. (Sat, 06 Sep 2008 07:02:02 GMT)
Insurance
Florida Insurance Commissioner Kevin McCarty on Friday denied State Farm's request for a hearing about its proposed 47 percent statewide average rate increase. (Sat, 06 Sep 2008 07:18:14 GMT)
Sept. 16 last day for crop insurance sign-up
Sept. 16 is the deadline for farmers to sign up for 2008 uninsured crops to maintain insurance coverage under the Supplemental Revenue Assistance Payments program and Art Barnaby wants to make sure it doesn't slip under producers' radar. (Sat, 06 Sep 2008 07:57:51 GMT)
Insurance company dismissed from wrongful death lawsuit
An insurance agency that issued a policy to Life Promotions has been dismissed from a wrongful death lawsuit filed by the parents of a Menasha girl who was killed on a free-fall amusement ride at Lifest in 2007. (Sat, 06 Sep 2008 09:24:00 GMT)
Fewer without insurance in Pa.
The number of Pennsylvanians living without health-care insurance dropped slightly from 2006 to 2007, according to new numbers released Tuesday by the U.S. Census Bureau. (Sat, 06 Sep 2008 11:58:16 GMT)
Gustav victims face insurance worries
As victims of Hurricane Gustav's fury turn to their insurance companies for help in recovering from the wind and water inflicted damage to their property, some are coming away with smiles while others may have a shock in store. (Sun, 07 Sep 2008 00:14:55 GMT)
Erie Insurance earns J.D. Power’s top customer satisfaction award
Erie Insurance has earned J.D. Power and Associates’ award for “Highest in Customer Satisfaction with the Auto Insurance Purchase Experience.” (Sun, 07 Sep 2008 02:07:16 GMT)
Insurance Technologies Releases Foresight 5.0
Insurance Technologies has announced the release of ForeSight 5.0 , the latest version of its flagship point-of-sale activity management platform. (Sun, 07 Sep 2008 04:01:45 GMT)
New maps bring insurance requirement
Vernon Ruse, left, looks over flood insurance information that Connie Perkins, a senior engineer with the Sacramento Utilities Department, is distributing. Staff members and community volunteers went door to door Saturday in older Natomas neighborhoods encouraging residents to buy a lower-cost, preferred risk policy before the area is officially included in a floodplain map in December, making ... (Sun, 07 Sep 2008 07:16:47 GMT)
Insurance market lures international investors
VietNamNet Bridge - Despite interim difficulties for the economy, Vietnam is seen as a promising market attracting many international insurance firms. (Sun, 07 Sep 2008 07:21:12 GMT)
Homework on insurance, insurance on home work
O perating a small business from home can free entrepreneurs from the costs of leasing space and commuting. But too many of them may short-change themselves when it comes to buying insurance. (Sun, 07 Sep 2008 07:40:10 GMT)
Fewer without insurance in Pa.
The number of Pennsylvanians living without health-care insurance dropped slightly from 2006 to 2007, according to new numbers released Tuesday by the U.S. Census Bureau. (Sun, 07 Sep 2008 12:41:42 GMT)
Legislator: Healthcare reform talk needs to shift beyond just having insurance to affordability
Until the conversation about healthcare reform moves from simply talking about who has and doesn't have insurance to Minnesotans' access to affordable healthcare coverage, Paul Thissen said the state is going to struggle to pass major reform, especially for rural areas. (Sun, 07 Sep 2008 12:43:29 GMT)
Assemble across-the-board insurance coverage for your home
As some Central Florida homeowners continue to pick up the pieces left from Tropical Storm Fay, others are keeping an eye on Ike and Josephine -- and hoping their insurance policies have them covered against every peril. (Sun, 07 Sep 2008 12:55:29 GMT)
Councilors get life insurance
LINGAYEN -- The members of the Philippine Councilors' League (PCL)-Pangasinan chapter went home with a life insurance (P100,000 coverage) each, last Saturday afternoon. (Sun, 07 Sep 2008 14:46:20 GMT)
Some WIBA members say business insurance offer unfair
A group of independent insurance agency owners, most of whom are Wichita Independent Business Association members, say WIBA’s offer of new lines of business insurance through a competing broker is misleading and unfair. (Mon, 08 Sep 2008 06:53:50 GMT)
Life insurance increases the value of your estate
Most people know the proceeds of their life insurance policy, in most cases, pass to their beneficiaries free from income tax. However, few realize that the same policy adds to their taxable estate for estate tax purposes. (Mon, 08 Sep 2008 07:02:42 GMT)
Phoenix Insurance to move its headquarters to Plano
Phoenix Indemnity Insurance Co. will move its headquarters north to Plano and add 50 employees, taking the company’s employment in North Texas to 125 in the next four years. (Mon, 08 Sep 2008 07:27:19 GMT)
Government to provide share for Insurance to BPL families
(RTTNews) - The United India Assurance on Sunday launched a first of its kind insurance scheme called 'Universal Arogya Medical Insurance Scheme' meant for people below the poverty line. (Mon, 08 Sep 2008 08:44:59 GMT)
Families offered life insurance
Massachusetts Mutual Life Insurance Co. hopes to give away $5 million to $10 million in free life insurance policies Saturday at Vineyard Community Church in Springdale to local families who meet specific criteria. (Mon, 08 Sep 2008 09:48:35 GMT)
Africa's insurance agency to cover political risk in E Africa
The African Trade Insurance Agency(ATI), Africa's only multilateral credit and risk insurance agency, on Monday signed a landmark agreement with Kenyan-based UAP Insurance Company (UAP) that will for the first time allow East Africans to access insurance against damage resulting from political violence. Under the political risk reinsurance cover provided by the agency, UAP will be able to offer ... (Mon, 08 Sep 2008 12:13:25 GMT)
Inside Insurance: Know coverage before a storm
While philosophers argue about the sound a tree makes if no one hears it fall, the real world issue is who's going to pay for the damage when my falling tree destroys your property, or vice versa. This is one of the most often-asked questions of homeowners insurance companies. No wonder, since the lack of rain in Georgia has stressed trees from the mountains to the coast. Hurricane ... (Mon, 08 Sep 2008 12:52:00 GMT)
William Russell and Dubai Insurance introduce moratorium underwriting
International expatriate insurance specialist William Russell and Dubai Insurance have swept away the need for expatriates to declare their previous medical history with the introduction of moratorium underwriting on all their health insurance plans. (Mon, 08 Sep 2008 13:08:55 GMT)
AIG Companies Introduce AIG Passport for Pension Trust Liability Insurance
The AIG Companies(R) today introduced AIG Passport(SM) for Pension Trust Liability (PTL), a service for U.S.- or Canada-based multinational companies to facilitate purchasing locally admitted PTL insurance to cover international operations and subsidiaries. (Mon, 08 Sep 2008 14:09:26 GMT)
Nonprofit releases statewide health-insurance plan
A North Carolina nonprofit's proposed statewide health-insurance plan would require contributions from government, business, insurers and individuals to try to achieve affordable coverage for everyone in the state. The proposal, released Monday by the N.C. Justice Center's Health Access Coalition, outlines four steps it says would achive this goal: -- Cover every child and make prevention a ... (Mon, 08 Sep 2008 14:51:33 GMT)
Another Vote on Children's Health Insurance Expansion Unlikely This Year
House Democratic leaders likely will not hold another vote on an expansion of children's health insurance, figuring that they still cannot overcome President Bush's veto of the bill and that they do not want to give vulnerable Republicans an opportunity to change their positions on the issue. (Mon, 08 Sep 2008 19:34:19 GMT)
NHS insurance voucher plan mooted
A state-funded insurance plan would introduce more competition into the NHS, a think tank argues. (Tue, 09 Sep 2008 01:58:30 GMT)
Weather wipes 20pc off insurance profits
INSURANCE companies are likely to suffer future declines in gross written premiums as the economy softens, after 20 per cent was wiped off the industry profitability in fiscal 2008. (Tue, 09 Sep 2008 05:30:00 GMT)
Omega Insurance First-Half Profit Gains 34% on Bermuda Unit
Sept. 9 (Bloomberg) -- Omega Insurance Holdings Ltd. , a Lloyd's of London insurer, said first-half profit rose 34 percent, boosted by sales at its Bermudian insurance unit. (Tue, 09 Sep 2008 06:32:59 GMT)
AXA AFFIN LIFE INSURANCE AIMS RM100 MLN GROSS PREMIUM THIS YEAR
KUALA LUMPUR, Sept 9 (Bernama) -- AXA Affin Life Insurance Bhd is targeting RM100 million in gross premium receipts this year, an increase by RM80 million from last year's figure. (Tue, 09 Sep 2008 07:11:16 GMT)
NHS 'insurance system' backed
The National Health Service should incorporate an insurance system into its funding to improve Britain's standing in global health terms, a thinktank has suggested. (Tue, 09 Sep 2008 10:50:37 GMT)
Employment-based insurance stabilized in '07
Smaller increases in health insurance costs helped give U.S. workers and their families a dose of stability last year, according to a new report from the Employee Benefit Research Institute. (Tue, 09 Sep 2008 12:32:05 GMT)
MetLife Launches New Whole Life Insurance Product
MetLife today announced the launch of its new Whole Life policy and with that, finalized the transition of all MetLife life insurance products to the 2001 Commissioners' Standard Ordinary (CSO) Mortality Table. In addition to providing permanent life insurance coverage and traditional guarantees on premium, cash value and death benefit (so long as the policy remains in-force), Whole Life offers ... (Tue, 09 Sep 2008 13:41:06 GMT)
Insurance industry fears an Ike hit on Galveston
The Texas insurance industry describes Hurricane Ike as the kind of storm it fears the most, particularly if Ike strikes the Galveston area where the Texas Windstorm Insurance Association has about $18 billion in insurance exposure. (Tue, 09 Sep 2008 13:47:17 GMT)
Insurance agent denies Lincoln Way Foods link :But Code, fire officials say that's who they were trying to reach.
SOUTH BEND — The insurance agent for Sam Amouri, owner of the Lincoln Way Foods building, is claiming his agency was not responsible for cleaning up the building, which was destroyed in a fire last month. (Tue, 09 Sep 2008 14:36:37 GMT)
Extra Insurance Can Protect Those Diamonds and Pearls
Home insurance policies are probably not adequate to cover the loss or theft of jewelry. (Wed, 10 Sep 2008 06:06:15 GMT)
Feds indict 10 in alleged insurance-fraud scheme
The owner of a Denver company and nine of his employees plotted in weekly meetings to rip off insurance companies by getting subcontractors to turn in fake, inflated bids, according to a 60-count federal indictment announced Tuesday. (Wed, 10 Sep 2008 06:09:19 GMT)
Are insurance settlements taxable?
Typically, insurance payments for property damage or physical injury are not taxable, says CPA George Saenz. (Wed, 10 Sep 2008 10:00:00 GMT)
Greek NBG seeks strategic partner for insurance arm
ATHENS, Sept 10 (Reuters) - Greece's largest lender, National Bank , is looking for a foreign strategic partner for its insurance arm Ethniki to expand bancassurance services further in the Balkans, it said on Wednesday. (Wed, 10 Sep 2008 12:28:40 GMT)
Agent accused of $676,000 insurance fraud
State investigators say an eastern Pa. insurance agent sold senior citizens fraudulent policies and investment products. (Wed, 10 Sep 2008 12:58:16 GMT)
Wells Fargo Insurance Services Grows in North Carolina
Wells Fargo Insurance Services Inc., a bank-owned insurance brokerage and a subsidiary of Wells Fargo & Co., acquired the assets of Greensboro, North Carolina's Professional Benefits Associates LLC. (Wed, 10 Sep 2008 14:02:50 GMT)
Insurance Costs Still Plaguing Coastal Residents
OCEAN SPRINGS, MS (WLOX) - Like so many South Mississippi residents, Patty Joseph's homeowner's insurance is a big problem. Just over a year ago, her wind and hail insurance was canceled, throwing her into the windpool. (Wed, 10 Sep 2008 14:14:32 GMT)
Hanover Adds Employer Liability Insurance to Small Business Policy
The Hanover Insurance Group, Inc., a super regional property and casualty company, is now including employment practices liability insurance (EPLI) coverage as an endorsement to every eligible new and (Wed, 10 Sep 2008 14:17:47 GMT)
Selective Insurance Appoints Slader, White
Selective Insurance Co. announced that Laurie A. Slader has been appointed assistant vice president for actuarial reserving and Jacqueline B. White is now assistant vice president, commercial small bu (Wed, 10 Sep 2008 14:17:57 GMT)
A.M. Best Affirms Ratings of Rembrandt Insurance Company, Ltd.
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of Rembrandt Insurance Company, Ltd. (Rembrandt) (Bermuda), a captive operation of Vitol Holding B.V. (Rotterdam), a global oil trading company. The outlook for both ratings is stable. (Wed, 10 Sep 2008 14:51:16 GMT)
Berkshire tightens insurance for bank deposits
CHARLOTTE, N.C. -- A Kansas company that is part of Warren Buffett's Berkshire Hathaway Inc. has stopped selling private bank deposit insurance above the amount guaranteed by the federal government, signaling that billionaire investor Buffett may be worried about future bank failures. (Wed, 10 Sep 2008 17:26:05 GMT)
Defense lawyers see motive behind insurance-fraud case
The indictment of 10 businessmen on insurance-fraud charges came after their business challenged insurance industry practices, putting the men "at odds" with high-profile people, attorneys for the company said Wednesday. (Thu, 11 Sep 2008 06:09:29 GMT)
Here's the lowdown on 'private' bank and broker insurance
Q: I've noticed several banks and brokerage firms claiming they have private insurance that protects accounts above the FDIC and SIPC limits. Should investors trust those promises? (Thu, 11 Sep 2008 06:33:56 GMT)
INSURANCE
Buying insurance is a critical part of being in business for a small company, but it's often either overlooked or given short shrift. To many owners, insurance means property and liability coverage, the products contained in a standard commercial or business owner's policy. (Thu, 11 Sep 2008 07:48:23 GMT)
HDFC Life Insurance ups stake in Apollo Tyres
MUMBAI, Sept 11 (Reuters) - Apollo Tyres Ltd said on Thursday HDFC Standard life Insurance Co Ltd has acquired an additional 0.62 percent stake from open market, taking its holding to 5.04 percent. (Thu, 11 Sep 2008 09:45:11 GMT)
King Says BOE to Offer Short-Term Liquidity Insurance to Banks
Sept. 11 (Bloomberg) -- Bank of England Governor Mervyn King said the central bank's revamped money-market system will offer insurance for funds after a bond-swap scheme expires in October. (Thu, 11 Sep 2008 09:47:42 GMT)
Infosys, LIC create history in group insurance
BANGALORE, INDIA: Software giant Infosys Technologies Ltd and Life Insurance Corporation of India (LIC) today announced the largest ever group insurance policy in India, of Rs 24,000 crore, with the renewal of Infosys’ group life insurance policy covering all employees of the company. (Thu, 11 Sep 2008 13:19:33 GMT)
Insurance cos: Largest investors in stock market
Insurance industry emerged as the largest investor in the stock market during 2007-08 surpassing the foreign institutional investors, riding on the huge popularity of Unit Linked Insurance Products, according to Life Insurance Council. (Thu, 11 Sep 2008 13:21:14 GMT)
The Anderson Insurance and Investment Agency Becomes Certified Partner of Injury Management Partners
The Anderson Insurance and Investment Agency, Inc. of Minneapolis, Minn. has become a Certified Partner of Injury Management Partners. Led by President Shaun Irwin, CPCU, RPLU, CWCA, the agency is now offering The Employers STEP Advantage(SM) program developed by Injury Management Partners to employers in the greater Minneapolis, Minn. area. (Thu, 11 Sep 2008 13:22:45 GMT)
FIDES sees insurance spending at US$300 per capita by 2017 - Regional
Insurance spending per capita in Latin America is set to double within the next 10 years to US$300, the chairman of regional insurance association FIDES , Rodolfo Wehrhahn, told BNamericas. (Thu, 11 Sep 2008 13:50:31 GMT)
NC insurance commissioner orders lower auto rates
North Carolina State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. (Thu, 11 Sep 2008 21:48:52 GMT)
Insurance Software provides guidelines to repair facilities.
CCC Pathways® is available with CCC Accumark(TM) add-on feature, which provides clear and efficient channel of information to custom estimating guidelines established and maintained by insurers. By means of electronic access, insurance companies can provide custom guidelines to repair facilities as well as implement guideline changes as they occur. Solution lets insurer-established guidelines be ... (Fri, 12 Sep 2008 12:55:02 GMT)
Data Breach Recovery Insurance suits midsize businesses.
Data Breach Recovery Insurance combines data breach protection with effective response services and also includes service endorsement that lets policyholders, their employees, and employees' resident family members utilize Identity Theft Resolution Services from Identity Theft 911®. Data Breach Recovery Expense coverage is included for costs of responding to data breach, and Data Breach Services ... (Fri, 12 Sep 2008 12:56:13 GMT)
Harleysville Insurance Names Keefe to Lead Corporate Development
John B. Keefe has been named senior vice president of corporate development for Harleysville Insurance. In this position, he is responsible for identifying strategic business opportunities designed to (Fri, 12 Sep 2008 12:59:30 GMT)
Connecticut Interscholastic Athletic Conference and Nationwide Insurance Continue Partnership to Highlight Teen Safety
CHESHIRE, Conn., Sept. 12, 2008; The Connecticut Interscholastic Athletic Conference (CIAC) and Nationwide Mutual Insurance announced today that they are joining forces once again to promote smart teen driving through the Buckle Up for a Successful Season campaign. (Fri, 12 Sep 2008 13:19:06 GMT)
XL collapse: Insurance won't cover most passengers
Customers with collapsed travel company XL could be refused an insurance payout as business failures are not covered by standard policies (Fri, 12 Sep 2008 13:53:44 GMT)
A.M. Best Affirms Ratings of Connaught Insurance Company Limited
A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of Connaught Insurance Company Limited (Connaught) (Guernsey), the captive insurance company of Thomas Greg and Sons Limited (TG&S), a printing and security specialist. The outlook for both ratings is stable. (Fri, 12 Sep 2008 14:18:08 GMT)
N.C. drivers may get break on auto insurance
State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Long signed an order requiring a 16.1 percent reduction in private passenger auto rates and an 11.7 percent reduction in motorcycle liability rates. The reductions are effective Jan. 1. The North Carolina Rate Bureau's request for a ... (Fri, 12 Sep 2008 14:29:13 GMT)
Snapshots UK Non-Life Insurance 2008 5 Years Of Historical Data And Five-Year Forecasts
Research and Markets (http://www.researchandmarkets.co has announced the addition of the "Snapshots UK Non-Life Insurance 2008" report to their offering. (Fri, 12 Sep 2008 14:47:30 GMT)
Dunlap Named President of Huntington Insurance
Columbus, Ohio--based Huntington Bancshares Inc. recently announced the appointment of Pete Dunlap as president of Huntington Insurance. In this role Dunlap is responsible for the oversight and strate (Fri, 12 Sep 2008 14:59:29 GMT)
Berkshire company to stop selling bank-deposit insurance
A Kansas company that is part of Warren Buffett's Berkshire Hathaway has stopped selling private bank deposit insurance above the amount guaranteed by the federal government, signaling that billionaire investor Buffett may be worried about future bank failures. (Fri, 12 Sep 2008 15:00:25 GMT)
Arthur J. Gallagher buys Calif. Insurance Center
Arthur J. Gallagher & Co., which provides insurance brokerage and risk-management services, said Friday it purchased retail insurance broker California Insurance Center Inc. to help expand its Western operations. (Fri, 12 Sep 2008 17:52:06 GMT)
Sector Snap: Insurance stocks lower ahead of Ike
Shares of major insurance companies traded mostly lower Friday, as Hurricane Ike made its way to the Texas Gulf Coast and financial stocks declined amid worries about the health of balance sheets across Wall Street. (Fri, 12 Sep 2008 18:18:42 GMT)
Insurance agents brace for claims surge
Once Ike passes, the insurance claims will follow. How long it takes to get an adjuster to your property once you've filed a claim can depend on the amount of damage, road conditions, when policyholders call in and how soon basic services are available. (Sat, 13 Sep 2008 05:43:32 GMT)
La emergency insurance rules for Hurricane Gustav
BATON ROUGE, La. -- Louisiana's insurance commissioner says companies doing business in Louisiana cannot immediately cancel or refuse to renew any policy for people who live in one of... (Sat, 13 Sep 2008 09:20:58 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. (Sat, 13 Sep 2008 09:36:24 GMT)
Insurance cos to settle cases fast: Judge
Chennai, Sep 13 Insurance companies should introduce a single-window clearance mechanism for speedy settlement of accident claim cases and giving relief to victims and their kin, Supreme Court judge Arijit Pasayat said here today. (Sat, 13 Sep 2008 09:39:42 GMT)
Health Insurance Discussion Resurfaces
MAYVILLE - Third time is a charm is what Dr. Rudy Mueller is hoping when it comes to decreasing the cost to taxpayers for legislature health insurance. (Sat, 13 Sep 2008 10:15:36 GMT)
Farmers Insurance Group prepares for deployment to help hurricane victims
Farmers Insurance Group of Companies, including subsidiaries Foremost Insurance and Bristol West, are prepared for deployment to help customers once Hurricane Ike hits landfall in Texas by this weekend. (Sat, 13 Sep 2008 11:08:03 GMT)
Insurance cap called fair
The cap imposed on damages for soft-tissue injuries was necessary to prevent spiralling insurance premiums, a government lawyer said yesterday. Frank Foran said the Alberta Court of Appeal should overturn a lower court ruling declaring the provincial legislation unconstitutional. (Sat, 13 Sep 2008 11:14:04 GMT)
More homes to need flood insurance
LAS CRUCES — The federal government is about to reissue a set of draft flood maps that will expand the area considered at high risk for flooding in Doña Ana County — meaning more homeowners likely will have to buy flood insurance. (Sun, 14 Sep 2008 06:09:52 GMT)
Farmers Insurance Group prepares for deployment to help hurricane victims
Farmers Insurance Group of Companies, including subsidiaries Foremost Insurance and Bristol West, are prepared for deployment to help customers once Hurricane Ike hits landfall in Texas by this weekend. (Sun, 14 Sep 2008 08:03:05 GMT)
Culp Insurance introduces employee
(pic) GRAND LEDGE -The Harry O. Culp Insurance Agency is pleased to announce the addition of Dawn Salyer to the staff. (Sun, 14 Sep 2008 08:05:22 GMT)
Insurance ignorance: Most people don't understand their coverage
We’re coming up on flood season. There’s always a chance of an earthquake. The anniversary of the 1962 Columbus Day Storm is less than a month away. Think high water, falling trees, brush fires and burglars. Maybe it’s time to think about insurance. And read your insurance policies. (Sun, 14 Sep 2008 08:14:52 GMT)
Extra insurance policies seldom used
When five feet of sewage water backed up into Jerry Martins basement in June, the West 17th Avenue resident didnt have insurance to cover the furnace, hot water heater and washer and dryer that was damaged by the flood. (Sun, 14 Sep 2008 09:18:57 GMT)
Homeowner without insurance faces slow recovery
Bobby Heathcote, a lifelong resident of Des Moines’ swamped Birdland Park area near North High School, didn’t live in a flood-hazard area, didn’t carry a mortgage — and didn’t have flood insurance. (Sun, 14 Sep 2008 09:20:54 GMT)
Despite edicts, few have flood insurance
Roughly 50,000 homes and buildings sit in the most high-risk, flood-prone areas of Iowa. Yet only about 12,300 were covered by any kind of flood insurance at the time of this summer’s historic floods, according to state estimates. (Sun, 14 Sep 2008 09:21:35 GMT)
Sept. 30 is deadline for fall crop insurance
SPRINGFIELD, Ind. -- Farmers are reminded that Sept. 30 is the last day to purchase multi-peril crop insurance for 2009 crops that are planted in the fall, such as winter wheat, winter barley and mint in Indiana. (Sun, 14 Sep 2008 11:02:56 GMT)
Negros Oriental now has own health insurance
DUMAGUETE CITY -- The province of Negros Oriental has launched its own health insurance program that promises to outdo the state-owned PhilHealth in delivering medical services. (Sun, 14 Sep 2008 11:31:50 GMT)
State insurance division warns consumers of balance billing
PIERRE - The South Dakota Department of Revenue and Regulation, Division of Insurance is advising consumers to carefully review the bills they receive from their medical providers to ensure they are not being overcharged due to balance billing. (Sun, 14 Sep 2008 11:39:06 GMT)
New York insurance regulator in talks with AIG
Officials from the New York Insurance Department and executives of American International Group Inc were in talks on Sunday to find a way for the embattled insurer to boost capital and protect policyholders. (Mon, 15 Sep 2008 02:15:58 GMT)
Insurance deductible costs may shock homeowners
Homeowners starting to file their Ike-related insurance claims may be surprised to learn how deep they'll have to dig into their wallets before their coverage kicks in. (Mon, 15 Sep 2008 05:44:04 GMT)
Long-term care insurance rises
Terry Savage: Just when America was warming up to the idea of purchasing long-term care insurance to protect family assets from the devastating costs of custodial care, the three largest insurance companies have shaken up the market by raising prices on existing policies, not just on policies to be sold in the future. How should that impact your planning? (Mon, 15 Sep 2008 09:11:05 GMT)
Australian Insurer Launches Mileage-Only Pay-Per-Drive Program Real Insurance’s trust-based PAYD program bypasses ...
Seeking to avoid the privacy and cost concerns that have impeded the success of telematics based personal auto policies, Sydney, Australia-based Real Insurance has launched a trust-based product relying on mileage alone to limit premiums according to individual customer behavior. (Mon, 15 Sep 2008 12:44:56 GMT)
Some unemployed Tennesseans can get CoverTN insurance
CoverTN will now offer health insurance to Tennesseans who are between jobs. (Mon, 15 Sep 2008 13:50:02 GMT)
Insurance stocks slide on AIG, Lehman
Shares of major insurance companies slid Monday morning amid concern the world's largest insurer could need up to $40 billion to shore up its balance sheet. (Mon, 15 Sep 2008 14:03:34 GMT)
Insurance Department Offers Wind Storm Advice
The Ohio Department of Insurance issues tips to help assist in the claims filing process. (Mon, 15 Sep 2008 14:15:28 GMT)
Farmers Insurance Helps More Than 14,000 People File Claims and Sets up Customer Care Sites Following Ike
The Farmers Insurance Group of Companies(R) has received more than 14,000 claims, as of Sunday evening, resulting from Hurricane Ike. To help customers file on-the-spot claims and receive information, Farmers has set up nine customer care sites. The customer care sites are at the following locations: (Mon, 15 Sep 2008 14:36:05 GMT)
Fears over US insurance giant AIG
There are fears over the future of US insurance company AIG following the collapse of Wall Street banking giant Lehman Brothers. (Mon, 15 Sep 2008 14:42:40 GMT)
Progressive Offers 'Pay-As-You Drive' Auto Insurance in Maryland
Progressive Insurance is introducing its optional car insurance program in Maryland that offers lower rates on vehicles that are driven in less risky ways. The behavior-based insurance program, ca (Mon, 15 Sep 2008 14:59:30 GMT)
Billions in Storm Damage Claims May Strain Texas Insurance Pool
Hurricane Ike caused as much as $16 billion in property damage, but the state-led insurance pool has only $2.3 billion, leaving the Texas government potentially on the hook. (Tue, 16 Sep 2008 02:40:03 GMT)
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