Insurance News Oct 2008
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States Act to Reduce Insurance Costs
In the last two years, at least three states have included health improvement in new programs intended to make health insurance more affordable for small employers. (Wed, 01 Oct 2008 03:03:27 GMT)
FDIC deposit insurance limit could bump up to $250,000
Savers who are frustrated with limits on federal deposit insurance could find temporary relief in the $700 billion financial rescue package pending on Capitol Hill. (Wed, 01 Oct 2008 04:10:31 GMT)
FDIC Seeks Authority to Raise Deposit Insurance Limit (Update4)
Sept. 30 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair is seeking authority to temporarily raise deposit insurance limits from $100,000, giving banks liquidity amid a ``crisis of confidence'' in the banking industry. (Wed, 01 Oct 2008 09:34:04 GMT)
Dallas-based Centex sells insurance unit 7:34 AM CT
Dallas-based homebuilder Centex Corp. said Wednesday that it has sold an insurance subsidiary. Centex said it sold its Westwood Insurance Agency to ZC Sterling of Atlanta for $55 million in cash and other undisclosed terms. (Wed, 01 Oct 2008 12:55:50 GMT)
AIG fall revives effort to give feds insurance oversight
Proponents say a U.S. regulator would be better positioned than state counterparts to detect trouble. Opponents say it was federally overseen parts of AIG that were behind the firm's failure. The multibillion-dollar implosion of insurance giant American International Group Inc. has state and federal officials pointing fingers of blame at each other. (Wed, 01 Oct 2008 13:05:45 GMT)
'Green' homeowners insurance now available in Ga.
Georgia homeowners who use environmentally friendly solar panels and recycled building materials on their houses can now get insurance specially designed for "green" homes, officials announced Tuesday. (Wed, 01 Oct 2008 13:07:25 GMT)
Centex Corp. sells Westwood Insurance Agency
Homebuilder Centex Corp. has sold its property and casualty insurance business Westwood Insurance Agency to ZC Sterling for $55 million in cash, the company said Wednesday. (CTX) (Wed, 01 Oct 2008 14:15:53 GMT)
Senate Sets Bailout Vote, Boost to Deposit Insurance
Oct. 1 (Bloomberg) -- The U.S. Senate set a vote for tonight on a $700 billion financial-rescue plan, tying it to an increase in bank-deposit-insurance limits and tax breaks to win support from Republicans. (Wed, 01 Oct 2008 14:23:45 GMT)
NC hurricane insurance readiness begins at coast
North Carolina lawmakers examining whether the insurance industry is prepared financially to handle a monster hurricane and billions of dollars in claims disagreed whether coastal residents already pay a fair share of premiums. (Wed, 01 Oct 2008 14:50:09 GMT)
Senate Sets Bailout Vote, Boost to Deposit Insurance
Oct. 1 (Bloomberg) -- The U.S. Senate set a vote for tonight on a $700 billion financial-rescue plan, tying it to an increase in bank-deposit-insurance limits and tax breaks to win support from Republicans. (Wed, 01 Oct 2008 14:54:25 GMT)
Drivers may get insurance breaks for playing computer games
NEW YORK (AP) -- Could playing computer games enhance mental agility enough to turn people over 50 into better drivers? Allstate Corp. wants to find out, and if the answer is yes, it might offer insurance discounts to people who play the games. (Wed, 01 Oct 2008 20:39:14 GMT)
Ping An Insurance Shares Are Suspended in Hong Kong (Update1)
Oct. 2 (Bloomberg) -- Ping An Insurance (Group) Co. , China's second-largest insurer, had its shares traded in Hong Kong suspended. Fortis , the bank rescued by Belgium, the Netherlands and Luxembourg, said Sept. 30 the 2.15 billion euro ($3 billion) sale of half its asset management arm to Ping An may collapse because of the worsening credit crisis. (Thu, 02 Oct 2008 05:25:44 GMT)
Banks cheer higher insurance limit
Among the many sweeteners added to the $700 billion bailout passed by the Senate on Wednesday are higher insurance limits on bank and credit-union deposits. (Thu, 02 Oct 2008 07:07:37 GMT)
The Right Car Insurance, No Accident
Hopefully you'll never have to use car insurance, but you do have to buy it. Here's how to do it sensibly. (Thu, 02 Oct 2008 10:06:52 GMT)
New law may allow kids to stay longer on parents' insurance
When is it time to get off mom and dad's health insurance? (Thu, 02 Oct 2008 10:36:54 GMT)
Accenture Completes Implementation of Claims Solution at Affirmative Insurance
Accenture (NYSE: ACN) has completed the implementation of Accenture Claim Components Solution at Affirmative Insurance Services, a distributor and producer of personal non-standard automobile insurance and a subsidiary of Affirmative Insurance Holdings, Inc. (Thu, 02 Oct 2008 13:16:30 GMT)
MOVES-Huron Consulting, State Compensation Insurance
(Adds Huron Consulting and State Compensation Insurance) (Thu, 02 Oct 2008 13:26:26 GMT)
Blues' Study: Health Insurance Purchasing Groups Drive Up Costs
A new actuarial analysis finds health insurance purchasing arrangements - also called connectors, exchanges, and health insurance purchasing cooperatives - lead to higher health insurance premiums and (Thu, 02 Oct 2008 14:00:48 GMT)
First Guard Insurance Offers Coverage for High Value Tractors
First Guard Insurance Co., a physical damage truck insurance company for commercial (Class 8) vehicles, now has the capability of underwriting and insuring high value tractors. A high value tracto (Thu, 02 Oct 2008 14:15:49 GMT)
Reid backs off insurance company claim
Senate Majority Leader Harry Reid is stepping back from a claim he made Wednesday that a major insurance company is on the “verge of going bankrupt.” (Thu, 02 Oct 2008 17:42:00 GMT)
Insurance stocks drop after Sen. Reid comment
Insurance stocks, led by Hartford Financial , Principal Financial and MetLife , fell on Thursday, a day after a top lawmaker raised the question of whether a well-known insurer could be in financial trouble. (Thu, 02 Oct 2008 22:05:38 GMT)
Two in Phila. charged in insurance-fraud schemes
The Philadelphia District Attorney's Office yesterday arrested two people in connection with separate cases of alleged insurance fraud. (Fri, 03 Oct 2008 08:08:46 GMT)
AIG to focus on insurance, plans sale of some units
American International Group says it will sell off a number of business units, while retaining its U.S. property and casualty and foreign general insurance businesses, in an effort to become a smaller, more nimble company. (Fri, 03 Oct 2008 12:16:57 GMT)
AIG to focus on property, casualty insurance
American International Group Inc , the insurer crippled by losses on bad mortgage bets, said on Friday it will focus on its property, casualty and foreign general insurance businesses. (Fri, 03 Oct 2008 12:30:15 GMT)
Spike in life insurance CDS spreads said overdone
NEW YORK, Oct 3 (Reuters) - A sharp increase in the cost of insuring U.S. life insurance companies' debt against the risk of default is overdone as the major players are not facing any liquidity or solvency issues, research firm CreditSights said on Friday. (Fri, 03 Oct 2008 13:19:00 GMT)
New AIG Chief Says To Focus On Core Insurance Business
New AIG Chief Says To Focus On Core Insurance Business (Fri, 03 Oct 2008 13:24:28 GMT)
AIG will sell life insurance business to pay back federal loan
American International Group Inc., the insurer forced to peddle businesses to repay an $85 billion government loan, will sell its life insurance operations in the U.S., Europe, Latin America, South Asia and Japan. (Fri, 03 Oct 2008 14:19:52 GMT)
AIG To Refocus On P&C AIG will sell many of its business units and refocus on its core property and casualty insurance ...
Troubled insurer AIG announced today that it will refocus on its core P&C insurance business and that it intends to sell many of its other businesses in an effort to repay the outstanding balance on its $61 billion loan from the Federal Reserve Bank of New York. (Fri, 03 Oct 2008 14:29:40 GMT)
Insurance stocks bounce back
Big life insurance stocks surged Friday morning, with MetLife and Hartford Financial Services leading the way after suffering steep losses Thursday. (Fri, 03 Oct 2008 14:46:35 GMT)
AIG to keep core insurance, sell assets to pay U.S. loan
American International Group Inc , crippled by losses on bad mortgage bets, said on Friday it will focus on its main insurance operations and put the rest of its businesses up for sale to repay up to $85 billion borrowed from the U.S. government. (Fri, 03 Oct 2008 20:00:07 GMT)
AIG to sell Japanese life insurance units
American International Group Inc, plans to sell its three Japanese life insurance businesses, an AIG spokesman said on Saturday, in sale Japanese media estimated could top $9.5 billion. (Sat, 04 Oct 2008 06:14:39 GMT)
AIG plans sale of its Nashville insurance unit
Beleaguered insurer American International Group said Friday it plans to sell off a number of operations, including its Nashville-based life insurance operation, to focus on property and casualty insurance and pay off a massive government loan. (Sat, 04 Oct 2008 07:12:21 GMT)
Homeowners' insurance pulled on hurricane fears
Bronx resident Joan Bellwood paid her homeowner's insurance premiums faithfully for nine years, so when she read a letter from Allstate last spring, she was furious. (Sat, 04 Oct 2008 08:16:56 GMT)
AIG to sell 3 Japanese life insurance units
Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. As part of its effort to pay off a massive U.S. government loan, AIG has decided to unload Alico Japan, AIG Edison Life Insurance Co., and AIG Star Life Insurance Co., the company said late Friday. (Sat, 04 Oct 2008 11:43:34 GMT)
AIG to sell 3 Japanese life insurance units
(AP:TOKYO) Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. (Sat, 04 Oct 2008 12:02:06 GMT)
State lifts insurance agent's license
The Ohio Department of Insurance has suspended the license of Randall C. Riddle for alleged violations of Ohio insurance law. (Sat, 04 Oct 2008 14:16:00 GMT)
Health care advocate attacks 'insurance'
The state's health care advocate wants Republican Gov. M. Jodi Rell's administration to stop referring to her Charter Oak health plan as "insurance," saying that the term misleads consumers and risks landing Connecticut in court. (Sat, 04 Oct 2008 14:38:24 GMT)
Erie Insurance earns J.D. Power award
Erie Insurance has earned J.D. Power and Associates award for “Highest in Customer Satisfaction with the Auto Insurance Purchase Experience.” (Sun, 05 Oct 2008 03:47:12 GMT)
Humberto Cruz: Make sure your bank deposits don't exceed FDIC insurance limits
Your letters and e-mails about bank safety reflect not only high anxiety, but also misunderstandings about federal deposit insurance. I will address common questions by sharing steps my wife, Georgina, and I have taken to protect our savings from the credit crisis. (Sun, 05 Oct 2008 06:41:45 GMT)
Chew on prices, coverage when considering pet insurance
Your bank account and level of attachment to your pet are key factors when pondering whether insurance is worth it. Justin and Brandy Besemer were newly married and trying to pay off their wedding debt when they decided their family needed a dog -- an American Bulldog named Kaila. (Sun, 05 Oct 2008 07:05:02 GMT)
Readers express anxiety, misunderstandings about Fed deposit insurance
Your letters and e-mails about bank safety reflect not only high anxiety but also misunderstandings about federal deposit insurance. (Sun, 05 Oct 2008 08:27:56 GMT)
Insurance proceeds awarded to woman who shot husband on hunting trip
A Meshoppen woman who shot her husband while on a hunting trip in Canada in 2006 will receive life insurance proceeds with the resolution of two civil lawsuits. (Sun, 05 Oct 2008 08:28:07 GMT)
Insurance agent pleads not guilty to 78 counts
FARGO (AP) - A Fargo insurance agent has pleaded not guilty to stealing more than $5 million from clients. (Sun, 05 Oct 2008 09:11:58 GMT)
Looking for Free or Low-cost Health Insurance?
(ARA) - It's no secret that accessing health care is a challenge for the 47 million Americans who are uninsured. Lack of health insurance forces many Americans to choose the health care they receive based on what they can afford, not what they actually need. (Sun, 05 Oct 2008 09:48:26 GMT)
Banks to be banned from selling insurance with loan
Grasping High Street banks face a clampdown over the £1.4billion a year they make from rip-off loan insurance. (Sun, 05 Oct 2008 10:22:03 GMT)
FEMA: Texans need to contact insurance companies
Many Texans, who suffered losses due to Hurricane Ike, are covered by their insurance. Even the best coverage may not cover every need, which is why state, federal and non-profit programs are made available. (Sun, 05 Oct 2008 10:47:29 GMT)
Ping An Insurance Falls in Hong Kong on Fortis Investment Loss
Oct. 6 (Bloomberg) -- Ping An Insurance (Group) Co. , China's second-largest insurer, fell the most in a week in Hong Kong trading after saying it will take a charge on losses from its investment in Fortis. (Mon, 06 Oct 2008 03:13:52 GMT)
Insurance parity a milestone in mental health treatment
More than one-third of all Americans will soon get better insurance coverage of mental health treatments because of a new law that, for the first time, requires equal coverage of mental and physical illnesses. (Mon, 06 Oct 2008 05:38:47 GMT)
Insurance agent suspended
The Ohio Department of Insurance has suspended the license of Randall C. Riddle for alleged violations of Ohio insurance law. (Mon, 06 Oct 2008 09:38:03 GMT)
AXA Insurance Gulf reinforces position in marine cargo and enters 'Large Risks' arena
AXA Insurance Gulf has signed an agreement with AXA Corporate Solutions to further its strategic ambition to grow significantly in the Marine & Large Risks insurance and risk management sectors. (Mon, 06 Oct 2008 11:54:17 GMT)
Critics warn against wait-time insurance policy
A health insurance policy that sends people facing long waits for surgery to private clinics or the United States is the latest flash point for critics warning Canada is on a slippery slope toward for-profit health care. (Mon, 06 Oct 2008 12:46:48 GMT)
AIG to Sell 3 Japanese Life Insurance Companies
Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. As part of its effort to pay off a massive U.S. government loan, AIG has decid (Mon, 06 Oct 2008 13:00:47 GMT)
LifeRe Insurance Company Officially Becomes Ameritas Group
In June 2008, the Texas Department of Insurance approved the purchase of LifeRe Insurance Company by Ameritas Life Insurance Corp., a UNIFI Company. The final transition of LifeRe systems and policies to Ameritas occurred October 1, 2008. (Mon, 06 Oct 2008 13:03:00 GMT)
Insurance money may go to estate
Dear Bruce: My sister had a life-insurance policy with her employer. Because there was no designated beneficiary, the proceeds went to her estate. In her will, she named me the beneficiary. Can I receive these funds from the insurance company? If there was no one listed on the policy, do the funds have to go through the estate? (Mon, 06 Oct 2008 13:16:36 GMT)
Pennsylvania Approves Tokio Marine Takeover of Philadelphia Insurance
Philadelphia Consolidated Holding Corp. reports that Tokio Marine Holdings, Inc. received approval of its proposed acquisition of control of Philadelphia Consolidated from the Pennsylvania Insurance D (Mon, 06 Oct 2008 14:30:58 GMT)
Sun Life Financial Adds Oral Cancer Screening to Group Dental Insurance Coverage
The U.S. division of Sun Life Financial Inc. (NYSE: SLF; TSX: SLF) today announced its group insurance division has added oral cancer screening as a covered procedure on most new dental cases effective September 1, 2008. The new coverage includes a variety of pre-diagnostic tests that detect cancerous and pre-cancerous conditions. (Mon, 06 Oct 2008 14:46:37 GMT)
Insurance chief says AIG bailout was unavoidable
Washington policy-makers had no choice but to rescue American International Group Inc after a dramatic investor crisis left the giant insurer starved for cash, New York insurance chief Eric Dinallo told lawmakers on Tuesday. (Tue, 07 Oct 2008 02:08:27 GMT)
Ireland's Lenihan Says EU May Raise Deposit Insurance (Update1)
Oct. 7 (Bloomberg) -- European Union finance ministers may agree to increase deposit insurance for consumers across the EU at a meeting today, Irish Finance Minister Brian Lenihan said. (Tue, 07 Oct 2008 09:17:49 GMT)
Ahead of the Bell: FDIC mulls bank insurance fees
The FDIC is considering a plan to increase the fees paid by U.S. banks and thrifts to replenish the deposit insurance fund. (Tue, 07 Oct 2008 10:07:45 GMT)
Europe May Raise Deposit Insurance to Stem Crisis (Update1)
Oct. 7 (Bloomberg) -- European Union finance ministers are considering a fivefold increase in deposit insurance for consumers across the EU after failing to agree on a U.S.-style bank-bailout fund to stem the deepening global credit crunch. (Tue, 07 Oct 2008 13:35:11 GMT)
Taiwan doubles bank deposit insurance
Taiwan's premier said Tuesday the island was doubling the amount of insurance it offers on bank accounts as it seeks to bolster consumer confidence in the wake of the world financial crisis. (Tue, 07 Oct 2008 13:36:32 GMT)
FDIC chair seeks fee increase for insurance fund
The head of the FDIC is asking for an increase in premiums that will double the average paid by U.S. banks and thrifts next year to replenish the deposit insurance fund. (Tue, 07 Oct 2008 14:05:05 GMT)
FDIC chairman proposes increasing bank premiums in 2009 to replenish deposit insurance fund.
FDIC chairman proposes increasing bank premiums in 2009 to replenish deposit insurance fund. (Tue, 07 Oct 2008 14:35:28 GMT)
FDIC chief wants more money to replnish deposit insurance fund
The head of the FDIC today asked for an increase in premiums that will double the average paid by U.S. banks and thrifts next year to replenish the deposit insurance fund. (Tue, 07 Oct 2008 14:50:22 GMT)
FDIC chair seeks fee increase for insurance fund
The proposal would raise the average insurance premiums paid by banks and thrifts to 13.5 percent of the value of their insured deposits from the current 6.3 percent. (Tue, 07 Oct 2008 14:56:44 GMT)
EU Countries Raise Bank-Deposit Insurance, Squabble Over Crisis
Oct. 7 (Bloomberg) -- European Union finance ministers failed to find a solution to the frozen credit markets that created the biggest financial crisis since the Great Depression, reaching accord on an increase in consumers' deposit insurance. (Tue, 07 Oct 2008 14:57:44 GMT)
Liberals mull higher deposit insurance
The leader of Canada's main opposition party, Stephane Dion, said on Tuesday he would consider following the lead of other countries in raising the insurance limit on banking deposits. (Tue, 07 Oct 2008 20:33:22 GMT)
Senators Propose Health Insurance Disclosure Bill
A group of bipartisan senators proposed legislation Tuesday that would compel employers to tell employees what their health insurance costs -- a step, the senators said, toward getting a handle on the spiraling cost of medical care. (Tue, 07 Oct 2008 22:07:19 GMT)
FDIC wants banks to pay more into insurance fund
The Federal Deposit Insurance Corp. Tuesday proposed doubling the fees it charges banks to protect consumer deposits, predicting its reserve fund could take a $40 billion hit through 2013 as more troubled lenders fail. (Wed, 08 Oct 2008 02:09:48 GMT)
Banks' insurance premiums raised
The government's new plan for rebuilding the deposit-insurance fund would more than double the industry's average premiums next year. It also could bring higher costs for bank customers. (Wed, 08 Oct 2008 07:29:40 GMT)
Allstate auto insurance rates questioned
Michigan's insurance consumer advocate is asking the state to hold hearings on Allstate Insurance Co.'s auto insurance rates. (Wed, 08 Oct 2008 07:38:18 GMT)
FDIC OKs deposit insurance fund plan
The government's new plan for rebuilding the deposit insurance fund would more than double average premiums and could bring higher costs for bank customers. (Wed, 08 Oct 2008 09:41:18 GMT)
FDIC may raise banks' insurance premiums
WASHINGTON – The Federal Deposit Insurance Corp. proposed yesterday to recoup the cost of recent bank failures and prepare for additional failures by more than doubling the insurance premiums that banks must pay. (Wed, 08 Oct 2008 10:12:38 GMT)
Wedding insurance and you
"T he latest entrant into the insurance family is wedding insurance," I told my brother Prabhat who is getting married this year. His immediate response was: "What's the need of such an insurance cover?" (Wed, 08 Oct 2008 10:27:41 GMT)
Study: Health insurance costs going up in NH
A new national study says health insurance costs in New Hampshire have climbed nearly five times faster than salaries this decade. (Wed, 08 Oct 2008 11:24:21 GMT)
Government for early payment of insurance money to farmers
New Delhi, Oct 8 (IANS) The finance ministry Wednesday said all efforts would be made to ensure farmers get their outstanding insurance money soon, estimated to be Rs.926.79 crore or Rs.9.26 billion as of Sep 15. (Wed, 08 Oct 2008 12:16:00 GMT)
Facing Steeper Health-insurance Costs? Here Are Tips For Saving
Facing Steeper Health-insurance Costs? Here Are Tips For Saving (Thu, 09 Oct 2008 00:53:38 GMT)
20 percent of Coloradans lack health insurance
Nearly one in five Coloradans has no health insurance, according to a U.S. Census Bureau report released today, and among Hispanics it is more than one in three. (Thu, 09 Oct 2008 04:13:04 GMT)
Census: 18 percent in county lack insurance
More than 18 percent of Larimer County residents lacked health insurance in 2005, according to data released today by the U.S. Census Bureau, worrying advocates who say premiums have only gone up since. (Thu, 09 Oct 2008 11:19:58 GMT)
BCAA drops health wait list insurance following outcry from members
VICTORIA - The B.C. Automobile Association has dropped plans to offer members a form of medical wait-list insurance after thousands of members voiced their opposition. (Thu, 09 Oct 2008 11:59:00 GMT)
Insurance groups in hunt for capital
NEW YORK, Oct. 9 (UPI) -- Three large U.S. insurance companies with troubled balance sheets have begun to hunt for capital to help stay afloat, the companies said. (Thu, 09 Oct 2008 12:55:58 GMT)
Govt should double insurance for bank deposits
MANILA, Philippines - The Philippine government should double bank deposit insurance to enhance protection for depositors, a state-led agency said. (Thu, 09 Oct 2008 12:56:02 GMT)
Experts: Insurance may not pay full value of homes' policy
Many Galveston property owners forced to demolish their houses or commerical buildings because of hurricane damage will not get enough money from the National Flood Insurance Program to pay off their mortgages. (Thu, 09 Oct 2008 13:12:04 GMT)
Insurance IT Spending Unlikely to Shrink While current conditions will drive intensified cost-consciousness, the ...
Strict reserving and solvency requirements have spared insurance companies the ravages the credit crisis has caused other financial services institutions but the insurance industry is still vulnerable to secondary effects, such as diminished investment income and a public with less income to spare. (Thu, 09 Oct 2008 13:44:28 GMT)
Insurance may not pay full value of homes’ policy
GALVESTON — Many property owners forced to demolish their houses will not get enough money from their insurance to pay off their mortgages. (Thu, 09 Oct 2008 14:00:44 GMT)
Census: 388,000 in Utah without health insurance
SALT LAKE CITY (AP) — Census figures show that 388,000 people in Utah don’t have health insurance. Those figures include about 100,000 people more than state agencies have estimated and 40,000 more than advocates for the uninsured have forecast in the worst-case scenario. (Thu, 09 Oct 2008 14:09:39 GMT)
Japan's Yamato Life Insurance files for protection: report
Japan's Yamato Life Insurance is in the process of filing for bankruptcy protection, Jiji Press reported Friday. (Fri, 10 Oct 2008 01:46:15 GMT)
Insurance firms now feeling pain of banking icons
Months after the stocks of big Wall Street financial firms first came under attack, insurance companies are now being battered, suggesting that a similar round of consolidation and recapitalization may be in store for that industry. (Fri, 10 Oct 2008 10:05:59 GMT)
Insurance Industry Joins Banking Giants on the Hot Seat
Months after the stocks of big Wall Street financial firms first came under attack, insurance companies are now being battered, suggesting that a similar round of consolidation and recapitalization may be in store for that industry, The New York Times’s Mary Williams Walsh reported. (Fri, 10 Oct 2008 11:22:23 GMT)
Insurance stalls Frontier programs
Two community-based youth sports organizations representing nearly 2,000 children who depend on Frontier school facilities to practice and hold their games have not been able to use the schools this fall because the district recently demanded more insurance coverage. (Fri, 10 Oct 2008 11:39:36 GMT)
Health insurance coverage dwindling
The Carolinas are losing employer-based health insurance at a faster rate than nearly any other state in the country, according to a study released Thursday. Nationally, the health insurance that covers most Americans has declined for seven years in a row, according to the Washington-based Economic Policy Institute, a nonpartisan, nonprofit that studies issues affecting working families. About ... (Fri, 10 Oct 2008 12:03:25 GMT)
Proposed Law To Secure Insurance For Ill Students
On Sept. 25, the United States Senate approved Michelle's Law (H.R. 2851), which would allow college students who have serious illnesses to take up to a year medical leave without being dropped by their parents' insurance. "If you get diagnosed with cancer as a college kid, the last thing you want to think about is choosing between losing your health insurance and getting the right treatment," ... (Fri, 10 Oct 2008 12:23:41 GMT)
Insurance Industry Joins Banking Giants on the Hot Seat
Insurance companies are now being battered like Wall Street banks were last month, suggesting a similar round of consolidation and recapitalization. (Fri, 10 Oct 2008 13:21:28 GMT)
Aspen Insurance 2008 hedge fund losses reach $47M
Aspen Insurance Holdings Ltd. on Friday said it lost $47.4 million in its investment portfolio this year through Sept. 30 because of the market turmoil. (Fri, 10 Oct 2008 14:00:35 GMT)
Massachusetts may end auto insurance appeals
The state's insurance commissioner, addressing a concern of some insurers, is considering eliminating the unique right under which Massachusetts drivers have been able to appeal auto premium surcharges they consider unfair for accidents caused by bad weather, road problems or some other abnormal circumstance. (Fri, 10 Oct 2008 14:20:01 GMT)
Aspen Insurance hurricane losses reach $155M
Aspen Insurance Holdings Ltd. on Friday said its net after tax losses for Hurricanes Ike and Gustav total about $155 million so far. (Fri, 10 Oct 2008 14:57:19 GMT)
Becoming An Insurance Agent
Few careers match the opportunity for as quick and large a paycheck as does being a life insurance agent. (Fri, 10 Oct 2008 21:46:23 GMT)
Insurance a hot issue in state Senate race
Insurance for wind and flood damage has become a dominant topic in the race for the Houston-area state Senate seat in which incumbent Mike Jackson and challenger Joe Jaworski have been displaced because of Hurricane Ike. (Sat, 11 Oct 2008 05:46:10 GMT)
Businesses knee-deep in insurance quagmires
Businesses affected by Ike could have yet another ordeal ahead — understanding their insurance coverage and haggling with insurers. (Sat, 11 Oct 2008 05:50:13 GMT)
Analyst says organ donors should get lifelong medical insurance
SINGAPORE: On the issue of legalising non—related living organ donation, one health policy analyst has suggested providing free medical insurance for organ donors and to only allow donations from Singaporeans for a start. (Sat, 11 Oct 2008 11:29:57 GMT)
State auditor presses for insurance data
HELENA - State insurance regulators, led by Auditor John Morrison, next year will start gathering nationwide information on the "market conduct" of insurance companies. (Sat, 11 Oct 2008 11:33:35 GMT)
Analyst says organ donors should get lifelong medical insurance
SINGAPORE: On the issue of legalising non-related living organ donation, one health policy analyst has suggested providing free medical insurance for organ donors and to only allow donations from Singaporeans for a start. (Sat, 11 Oct 2008 11:49:43 GMT)
Insurance studies planned
CHICOPEE - Independent and internal studies analyzing the cost of providing health insurance to municipal employees and retirees will not be completed until next year. (Sat, 11 Oct 2008 12:24:59 GMT)
SF suing bond insurance companies
San Francisco's city attorney filed a lawsuit Wednesday accusing five bond companies of selling California cities insurance policies that have become worthless because of the nation's mortgage meltdown. (Sat, 11 Oct 2008 14:18:43 GMT)
Insurance on Lehman Debt Is the Industry?s Next Test
Sellers of insurance on bonds issued by Lehman Brothers are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts. (Sat, 11 Oct 2008 16:36:35 GMT)
Direct to Borrowers: Title Insurance for Sale Online
In the midst of the worst financial crisis since the 1930s, one that originated in the home mortgage market, it is nice to be able to report some good news. EnTitle Direct Insurance is now selling title insurance directly to borrowers online, with premiums that it claims undercut existing insurers by about 35 percent. (Sat, 11 Oct 2008 20:51:08 GMT)
Know the facts on new increases in deposit insurance limits
Everywhere I go I can feel the tension. An elderly couple wrote the following: "Can you help us understand the limits on insurance for CDs, money market accounts, and checking accounts in banks, savings and loans, and credit unions?" (Sun, 12 Oct 2008 06:01:10 GMT)
Records show insurance company rejected Sterlington assistant police chief
Sterlington Assistant Police Chief Vince Hodnett, who is already under investigation by state police in an annexation controversy, was excluded from liability coverage by one insurance company that stated he shouldn't be "an armed law enforcement officer." (Sun, 12 Oct 2008 06:24:12 GMT)
Disclosure or no, Mexico requires insurance
Q: I recently booked a car in Manzanillo, Mexico, through Hotwire. I ended up paying $197 in advance for a two-week rental through Thrifty. My practice in renting cars has been to decline the optional insurance, relying on my personal coverage and my credit... (Sun, 12 Oct 2008 07:35:53 GMT)
Fidelity, Vanguard join money-fund insurance plan
Fidelity Investments have joined the U.S. Treasury's emergency insurance program for money-market mutual funds, pushing the participation rate to more than 95 percent of assets managed by the industry. (Sun, 12 Oct 2008 07:41:22 GMT)
Look for insurance costs on your credit card bills
You could be paying for insurance you didn't know you had on your credit card balance. Usually sold by telemarketers, the insurance has a small monthly fee. It's easy to miss. (Sun, 12 Oct 2008 08:51:09 GMT)
Mr Justice Consumer Advice: North man wins payout from insurance firm
READER Allan McKeswick asked me to “cheque” it out in a dispute with his insurance company. (Sun, 12 Oct 2008 10:42:00 GMT)
Many troubled loans didn't require insurance
If the problem threatening to take down the economy is bad mortgages, then why isn't mortgage insurance taking care of it? (Sun, 12 Oct 2008 11:46:09 GMT)
Analyst says organ donors should get lifelong medical insurance
SINGAPORE: On the issue of legalising non—related living organ donation, one health policy analyst has suggested providing free medical insurance for organ donors and to only allow donations from Singaporeans for a start. (Sun, 12 Oct 2008 12:17:41 GMT)
Insurance coverage studied in child-abuse death cases
Babies without private health insurance were nearly four times more likely to die from abuse-related injuries than babies with health coverage. (Mon, 13 Oct 2008 09:41:53 GMT)
Insurance agents recommending non-investment-linked policies
SINGAPORE: Some insurance agents are now encouraging clients to take up policies which cater to personal insurance needs rather than investment-linked ones. (Mon, 13 Oct 2008 11:18:36 GMT)
More owners torching cars for insurance
WASHINGTON, Oct. 13 (UPI) -- Insurance fraud investigators say more auto owners are torching their cars to get out from under debt in a bad economy. (Mon, 13 Oct 2008 12:24:39 GMT)
Lehman Debt Auction Gives Clue to Potential Insurance Payouts
Sellers of insurance on bonds issued by bankrupt Lehman Brothers Holdings Inc. are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts. (Mon, 13 Oct 2008 12:49:01 GMT)
Lack of Insurance Raises Abused Babies' Death Risk
MONDAY, Oct. 13 (HealthDay News) - Infant victims of abuse whose families don't have private health insurance are almost four times more likely to die, compared with abused babies who are privately insured, a new study finds. (Mon, 13 Oct 2008 13:02:22 GMT)
Mass. May End Auto Insurance Appeals; Agents Balk
The Massachusetts insurance commissioner, addressing a concern of some insurers, is considering eliminating the unique right under which Bay State drivers have been able to appeal auto premium surchar (Mon, 13 Oct 2008 13:03:42 GMT)
Nigeria: Insurance Data Safety - Stakeholders Urged to Upgrade Their ICT
As hackers and eavesdroppers continue to invade corporations' websites leaving damaging information on files, stakeholders at the Insurance TechExpo 2008, which held in Lagos last week, harped on the need for insurance companies to upgrade their information and communications technologies to meet security concerns and match global best practices. (Mon, 13 Oct 2008 13:17:38 GMT)
Indiana Supreme Court Orders Records Unsealed on Insurance Cases
The Indiana Supreme Court on Friday, October 10 ordered opened to the public hundreds of pages of documents that had been sealed at the request of corporations involved in an insurance dispute. Th (Mon, 13 Oct 2008 14:18:41 GMT)
Insurance / Perspectives
Historically, high inflation in Latin America has been blamed as one of the main factors hindering growth in the insurance business. However, increased solidity and economic stability has helped premiums grow for five consecutive years through 2007 in Latin America. (Mon, 13 Oct 2008 14:32:22 GMT)
Florida-based Brown & Brown Acquires Al Phillips Insurance Agency
Florida-based Brown & Brown, Inc. announced the asset acquisition of Al Phillips Insurance Agency Inc. of Nashville, Tenn., by a subsidiary of Brown & Brown Inc., according to C. Roy Bridges, regional (Mon, 13 Oct 2008 14:34:04 GMT)
Aflac May Buy AIG's Japan Life Insurance Unit, CEO Amos Says
Oct. 14 (Bloomberg) -- Aflac Inc. , the world's largest seller of supplemental health insurance, may bid for American International Group Inc. 's Alico Japan life insurance unit, Chief Executive Officer Daniel Amos said. (Tue, 14 Oct 2008 06:58:39 GMT)
Deposit insurance increases at credit unions
A recent law expands insurance coverage on deposits to $250,000, but credit unions offer other compelling reasons to join. (Tue, 14 Oct 2008 10:00:00 GMT)
Flood insurance changes clarified
A revised flood zone map that promised to cut insurance premiums for thousands of South Buffalo residents has triggered a flood of a different kind. (Tue, 14 Oct 2008 10:43:27 GMT)
RP insurance sector seen to weather financial crisis
MANILA, Philippines - A group of Philippine insurance firms on Tuesday expressed confidence no one from its ranks will not fold up amid the global liquidity crisis gripping major markets abroad. (Tue, 14 Oct 2008 11:01:02 GMT)
Insurance firms wants court to stop BIR from imposing more taxes
MANILA, Philippines - Insurance companies urged the Court of Tax Appeals to issue a temporary restraining order to prevent the Bureau of Internal Revenue (BIR) from draining the industry's revenues by collecting more taxes. (Tue, 14 Oct 2008 11:04:42 GMT)
Browser-Based System centralizes insurance processes.
Designed for property and casualty insurance companies, iVOSc Carrier Edition amalgamates claims administration, medical bill review, event management, document imaging, policy underwriting, and case management capabilities into one solution. This browser-based insurance system is comprised of 3 core customizable modules - iVOSc Policy Administration, Claims Management, Billing - and also offers ... (Tue, 14 Oct 2008 12:59:36 GMT)
AIG Commercial Insurance Unit Financially Fit and Fighting Back
The very strengths in its balance sheet, surplus, underwriting and personnel that have made the Commercial Insurance unit of American International Group (AIG) a market leader are keeping it compet (Tue, 14 Oct 2008 13:03:41 GMT)
Selective Insurance sees 3Q losses from Ike
Selective Insurance Group Inc. said Tuesday it expects third-quarter earnings to be hurt by catastrophe losses and losses in its investment portfolio due to the financial market turmoil. (Tue, 14 Oct 2008 14:09:06 GMT)
Rhode Island Senator Reed Reaps Campaign Cash from Insurance Sector
Nearly a quarter of all contributions to Sen. Jack Reed's re-election campaign have been coming from donors in the banking, securities, real estate and insurance sectors. According to independent w (Tue, 14 Oct 2008 14:33:41 GMT)
Jefferson schools seek insurance waiver
The Jefferson County Board of Education voted last night to ask the state for a waiver so it can continue to carry property insurance with a higher deductible, and cut its property loss limit in half. (Wed, 15 Oct 2008 07:53:40 GMT)
Next insurance chief to face underfunded Beach Plan
The insurance market on North Carolina's coast has fallen into crisis, and the rest of the state could end up paying the multibillion dollar bill. (Wed, 15 Oct 2008 10:34:53 GMT)
How to Find the Right Private Health Insurance
If the rocky economy has cost you your job, chances are pretty good that you have joined the 46 million Americans who don't have health-care insurance coverage. Welcome to the complex world of private medical insurance. (Wed, 15 Oct 2008 12:08:43 GMT)
Bus, insurance funds put legislators at odds
The state House and Senate Education Committees recommended Tuesday that the state spend another $24.5 million a year on bus transportation and $63 million a year on teacher health insurance. (Arkansas Democrat-Gazette Northwest Edition) (Wed, 15 Oct 2008 12:32:34 GMT)
Aon to sell auto insurance unit to Mercury General
(AP:CHICAGO) Insurance broker Aon Corp. said Wednesday it has agreed to sell its Auto Insurance Specialist Management Group unit to Mercury General Corp. for $120 million. (Wed, 15 Oct 2008 13:24:34 GMT)
Aon Selling Auto Insurance Broker in California to Mercury General
Mercury Casualty Co., the largest insurance subsidiary of Los Angeles-based Mercury General Corp., has agreed to buy Auto Insurance Specialists, Inc. from Aon Corp. AIS is an independent broker and (Wed, 15 Oct 2008 13:48:42 GMT)
Ex-New York Insurance Broker Sentenced to Probation
A 59-year-old former New York insurance broker who sold insurance despite having his license revoked in 2002 was sentenced to five years' probation yesterday for pocketing $90,000 in premiums from bus (Wed, 15 Oct 2008 13:48:51 GMT)
Police arrest 'catalyst' in car insurance fraud crackdown
By David Abel, Globe Staff A Lawrence man who fled the state before being tried on charges he helped stage a car crash that resulted in a woman’s death and sparked a statewide crackdown on car insurance fraud was arrested... (Wed, 15 Oct 2008 14:11:19 GMT)
New Jersey Skylands Insurance Introduces OneChoice Auto
New Jersey drivers have a new option for insuring their vehicles. New Jersey Skylands Insurance is now offering its expandable OneChoice Auto in the Garden State. OneChoice Auto features protection (Wed, 15 Oct 2008 14:18:52 GMT)
Talecris Biotherapeutics Helps Patients Receive Gamunex(R) During Lapses in Private Insurance Coverage
Under a new program introduced by Talecris Biotherapeutics, patients who regularly use Gamunex (Immune Globulin Intravenous (Human), 10% Caprylate/Chromatography Purified) may be able to receive continuing treatment in the event of a lapse in private insurance coverage. (Wed, 15 Oct 2008 14:35:23 GMT)
Australia Set to Pass Law to Reduce Private Health Insurance
Oct. 16 (Bloomberg) -- A new Australian law that is expected to see 492,000 drop out of private health insurance is set to pass the upper house of parliament after Health Minister Nicola Roxon agreed with Senators on changes to surcharges. (Thu, 16 Oct 2008 01:26:08 GMT)
Australia Passes Law Reducing Health Insurance (Update1)
Oct. 16 (Bloomberg) -- A new Australian law that is expected to see 492,000 drop out of private health insurance passed the upper house of parliament after Health Minister Nicola Roxon agreed with Senators on changes to surcharges. (Thu, 16 Oct 2008 03:18:46 GMT)
Insurance a hot issue in state Senate race
Insurance for wind and flood damage has become a dominant topic in the race for the Houston-area state Senate seat in which incumbent Mike Jackson and challenger Joe Jaworski have been displaced because of Hurricane Ike. (Thu, 16 Oct 2008 06:10:35 GMT)
Insurance
The National Council on Compensation Insurance's proposed a 14 percent decrease for workers' compensation insurance isn't enough, Florida Insurance Commissioner Kevin McCarty said Wednesday. He rejected the decrease and ordered the council, which calculates rates for workers compensation insurers in many states, to reduce rates in Florida by 18.6 percent. McCarty's proposed decrease would save ... (Thu, 16 Oct 2008 07:05:55 GMT)
Fubon Fin's insurance arm to raise T$5.58 bln
TAIPEI, Oct 16 (Reuters) - The insurance arm of Taiwan's Fubon Financial Holding Co <2881.TW> plans to raise T$5.58 billion ($172 million) through a rights issue to improve its financial structure. (Thu, 16 Oct 2008 10:35:45 GMT)
Insurance sa deposito dinoble ng Senado
MANILA – Itinaas ng Senado sa P500,000 ang deposit insurance coverage na kasalukuyang P250,000 bawat depositor bilang paghahanda sa posibleng maging epekto ng krisis pampinansyal na nararanasan sa mundo. (Thu, 16 Oct 2008 10:59:49 GMT)
Confie Seguros Acquires Alamo Auto Insurance Group
Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, has acquired auto insurance brokerage Alamo Auto Insurance. The (Thu, 16 Oct 2008 14:03:41 GMT)
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