Insurance News Nov 2008
1 2 Next
Penn Millers Insurance to go public
Wilkes-Barre-based Penn Millers Insurance Co. plans to issue stock and become a publicly-traded company. (Sat, 01 Nov 2008 05:27:25 GMT)
Insurance on hook for waste cleanup
SPRINGFIELD -- A group of insurance companies representing the owners of the Springfield Shopping Plaza, the family of S.R. Young and Bradford Oil will pay the state of Vermont close to $1 million for cleaning up soil and groundwater pollution from the former GoGoGas service station. ... - By SUSAN SMALLHEER Herald Staff (Sat, 01 Nov 2008 07:11:21 GMT)
California jobless insurance fund faces rising deficit
California's unemployment insurance fund will have a $2.4 billion deficit by the end of 2009 and be $4.9 billion in the red by 2010 if changes are not made to how benefits are financed, the state Employment Development Department warned Friday. In their October forecast, EDD officials said the UI Trust Fund will collect $15.2 billion in payroll taxes from California employers over the next three ... (Sat, 01 Nov 2008 07:13:23 GMT)
Tentative deal reached on insurance waiver
MADISON Gov. Jim Doyle says the state and federal government have agreed in principle on the states plan to expand the BadgerCare Plus health insurance plan to low-income childless adults. (Sat, 01 Nov 2008 09:25:33 GMT)
Lampson: flood insurance mandate dead in Congress
A congressional proposal to mandate flood insurance for homes behind levees has been defeated, U.S. Rep. Nick Lampson, said Wednesday night. (Sat, 01 Nov 2008 10:04:54 GMT)
RSP flays hike in FDI cap in insurance sector
The Revolutionary Socialist Party, a constituent of the LDF government in Kerala, came out strongly against the UPA government's decision to raise the FDI cap in the insurance sector from 26 to 49%, holding it would render Indian firms vulnerable to the global financial meltdown. (Sat, 01 Nov 2008 11:52:31 GMT)
Teamster retirees' insurance faces cuts
TRI-STATE - Citing an increase in health insurance costs, Teamsters Local 992 next year will cancel a decades-old Medicare supplemental insurance plan it offers to retired union members. The cut, which will take place Jan. 1, 2009, will affect more than 350 union retirees who will have to get the supplemental insurance from other insurance providers, according to union leaders who talked about ... (Sat, 01 Nov 2008 12:13:11 GMT)
Higher insurance costs erode savings on small cars
This year's higher gasoline prices are prompting drivers to switch to smaller, more fuel-efficient cars. The trouble is, some of the money they save may be going to higher insurance premiums. (Sun, 02 Nov 2008 03:25:45 GMT)
Kristof: Do you need flood insurance?
Wherever you live, flood insurance can keep you from getting soaked. (Sun, 02 Nov 2008 05:03:15 GMT)
Joe Adams: Part of insurance law generates confusion
Q: Our condominium association is trying to gather proof of insurance from our unit owners, in response to the recent changes to the Florida... (Sun, 02 Nov 2008 05:20:33 GMT)
Businesses relish drop in insurance
The insurance that commercial property owners pay on their buildings has plummeted in the past two years, providing some relief from Lee County's... (Sun, 02 Nov 2008 05:22:00 GMT)
Is is better to purchase disability insurance at my job or on my own?
Disability insurance can replace your income if you are sick or injured and can't work for a while. Although group coverage through an employer often is more affordable, it is taxable. And a group policy may not offer other benefits of an individual policy, such as portability from one job to another or customization of coverage. Let members of the Financial Planning Association of Greater ... (Sun, 02 Nov 2008 07:08:20 GMT)
Foreign drivers get Kansas car insurance
At least two insurance companies in Kansas are insuring motorists who hold foreign driver's licenses. State law doesn't prohibit the companies from doing so, and supporters of the practice say it ensures that all drivers are protected in accidents. But critics have raised concerns about road safety and national security. Farmer's Insurance Group office manager Claudia Villatoro said she has ... (Sun, 02 Nov 2008 07:09:28 GMT)
Employers in search of ways to help keep health insurance costs low
It's time for employees to choose from the health insurance and benefits options their employers are offering for next year. (Sun, 02 Nov 2008 07:15:16 GMT)
Skip financial soaking with flood insurance
If you own a home in California, chances are you have some type of fire insurance. But many people don't realize that it's flood insurance -- not fire insurance -- that protects them from the mudslides that often follow the state's wind-blown autumnal blazes. (Sun, 02 Nov 2008 10:58:25 GMT)
Consumer 10 Report: Colleges, private K-12s offer tuition insurance
One in 10 students at Kenyon College carries something besides a book-filled backpack: tuition insurance. (Sun, 02 Nov 2008 11:03:42 GMT)
NMC wants $1M insurance policy on president
Northwestern Michigan College officials propose doubling President Tim Nelson's life insurance benefit to $1 million, a perk that would cost taxpayers thousands of dollars extra in premium costs. (Sun, 02 Nov 2008 14:37:39 GMT)
Few options remain when job insurance disappears
Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. Among the jobless, Smith is one of the lucky few with solid health insurance that she can afford. And it covers thousands of dollars in prescription drugs she could never pay for herself. Health problems forced the 55-year-old to leave her job as a human resources director several years ago. She ... (Mon, 03 Nov 2008 09:26:49 GMT)
Few options remain when job insurance disappears
(By TOM MURPHY, Associated Press Writer) Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. Among the jobless, Smith is one of the lucky few with solid health insurance that she can afford. And it covers thousands of dollars in prescription drugs she could never pay for herself. Health problems forced the 55-year-old to leave her job as a human ... (Mon, 03 Nov 2008 09:31:05 GMT)
Petrovietnam Insurance says 9-mth net up 40 pct
HANOI, Nov 3 (Reuters) - Petrovietnam Insurance Corp , Vietnam's third-largest insurer, said on Monday its net profit in the first nine months of the year jumped 40 percent thanks to investments and an expanding business. (Mon, 03 Nov 2008 12:30:15 GMT)
Ahead of the Bell: Insurance Brokers
An analyst on Sunday added insurance brokers Marsh & McLennan Cos. and Aon Corp. to a top picks list while upgrading Brown & Brown Inc. and Arthur J Gallagher & Co. amid expectations for price stabilization. (Mon, 03 Nov 2008 13:24:24 GMT)
Health care insurance a conundrum
Have you heard the one about yo’ mama and health insurance? Your mama and mine, and women in general, pay more for health insurance than men. At least they do between the ages of 19 and 55, according to an article in the New York Times Thursday. (Mon, 03 Nov 2008 13:58:06 GMT)
Industrial Alliance buys DundeeWealth's Quebec mutual fund, insurance operations
TORONTO - Industrial Alliance Insurance (TSX:IAG) has agreed to buy a slate of Quebec-based businesses managing about $2.6 billion in assets from DundeeWealth Inc. (TSX:DW) for undisclosed price. (Mon, 03 Nov 2008 14:05:00 GMT)
Few options remain when job insurance disappears
Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. Among the jobless, Smith is one of the lucky few with solid health insurance that she can afford. (Mon, 03 Nov 2008 14:19:17 GMT)
Health Insurance Options Few For Jobless
Unemployed people have few options when it comes to getting health insurance. (Mon, 03 Nov 2008 14:36:44 GMT)
Few options remain when job insurance disappears
Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. (Mon, 03 Nov 2008 14:42:41 GMT)
Few options remain when job insurance disappears
By By TOM MURPHY -- Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. Among the jobless, Smith is one of the lucky few with solid health insurance that she can afford. And it covers thousands of dollars in prescription drugs she could never pay for herself. Health problems forced the 55-year-old to leave her job as a human resources director ... (Mon, 03 Nov 2008 15:03:08 GMT)
SoCal insurance agent gets 10 years for scam
A Southern California insurance agent has been sentenced to 10 years in prison after pleading guilty to a $2.5 million fraud scheme. Prosecutors say Anthony Medina, who operated Prompt Insurance Agency in Newport Beach, received the sentence Monday in... (Tue, 04 Nov 2008 05:05:48 GMT)
Insurance
Citizens Property Insurance Corp. said Monday that effective Nov. 14 it will no longer offer business policies that only cover damage from windstorms. (Tue, 04 Nov 2008 08:14:37 GMT)
Web site, number offer children's insurance info
Parents can now get applications and other information about the Kentucky Children's Health Insurance Program, or KCHIP, through a new Web site and a toll-free number. (Tue, 04 Nov 2008 10:28:44 GMT)
PACIFIMAS GETS NOD TO START TALKS ON DISPOSAL OF GENERAL INSURANCE UNIT
KUALA LUMPUR, Nov 4 (Bernama) -- PacificMas Bhd has received the approval from Bank Negara Malaysia to commence negotiations with several parties for the disposal of its general insurance subsidiary, The Pacific Insurance Bhd. (Tue, 04 Nov 2008 13:21:04 GMT)
NMC: Life insurance policy too expensive
Northwestern Michigan College's president recommended scrapping his own proposal to double his life insurance policy to $1 million, citing higher-than-anticipated premiums. College trustees during a study session Monday publicly backed away from the possible increase to NMC President Tim Nelson's current life insurance policy. (Tue, 04 Nov 2008 13:23:36 GMT)
Banks Get More Time to Mull Debt Insurance
The Federal Deposit Insurance Corp. on Tuesday extended the deadline for financial firms to participate in a program that guarantees their newly issued, senior unsecured debt and insures non-interest bearing deposit transaction accounts. (Tue, 04 Nov 2008 14:33:45 GMT)
Insurance agent pleads guilty to 152 felony charges
A Newport Beach insurance agent was sentenced Monday to 10 years in prison for taking $2.5 million from business owners. (Tue, 04 Nov 2008 14:34:44 GMT)
Hunting for health insurance after a job loss
INDIANAPOLIS, Indiana (AP) -- Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. (Tue, 04 Nov 2008 14:45:08 GMT)
Citizens offers commercial insurance
Citizens Property Insurance Corp. said it would begin offering a commercial nonresidential multi-peril policy on Nov. 17. (Tue, 04 Nov 2008 15:21:09 GMT)
Few options remain when job insurance disappears
Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. Among the jobless, Smith is one of the lucky few with solid health insurance that she can afford. And it covers thousands of dollars in prescription drugs she could never pay for herself. Health problems forced the 55-year-old to leave her job as a human resources director several years ago. She ... (Tue, 04 Nov 2008 15:45:59 GMT)
American Express Accused in Trial of Insurance Overcharges
Nov. 5 (Bloomberg) -- American Express Co. customers were charged hundreds of millions of dollars for travel insurance that was never provided, lawyers for cardholders told a California judge. (Wed, 05 Nov 2008 05:55:40 GMT)
Harry Gross: Victim's insurance drops him
Dear Harry: Back in June, my car was parked on a street in downtown Philly when it was severely damaged by a hit/run driver. The repairs to my car were paid for by my insurance company. Last month, I got a call from my broker telling me that my policy wou (Wed, 05 Nov 2008 08:44:49 GMT)
Commissioner of Insurance: Goodwin ahead of 2 others
Democrat Wayne Goodwin was leading a field of three candidates seeking to replace longtime Insurance Commissioner Jim Long. In unofficial returns, with 78 counties reporting, Goodwin was ahead 51.3 percent to 44.9 percent for Republican John Odom, according to the State Board of Elections. (Wed, 05 Nov 2008 09:46:49 GMT)
Life insurance to pay off debt
When life insurance is used to pay off a loan, it's an exception to the tax-free rule, says CPA George Saenz. (Wed, 05 Nov 2008 11:00:00 GMT)
Insurance broker Marsh & McLennan reports 3rd-quarter loss on discontinued operations
NEW YORK (AP) - Insurance broker Marsh & McLennan says it lost $8 million in the third quarter due in part to lower revenue in its risk consulting and technology business. Analysts had been expecting a profit. (Wed, 05 Nov 2008 13:07:57 GMT)
Computer glitch dumps kids from state health insurance
DAYTONA BEACH -- Computer errors in a state health insurance program has officials contacting families of thousands of children who may have been improperly dropped over the last five months to try to get them enrolled again. (Wed, 05 Nov 2008 14:21:21 GMT)
Kreidler, Lindeen Take Top Insurance Regulator Spots
Candidates Mike Kreidler and Monica Lindeen have won the elections for top insurance regulators in their respective states. In Montana, Democrat Lindeen received 235,232 votes beating out Republica (Wed, 05 Nov 2008 15:23:12 GMT)
SoCal Insurance Agent Gets 10 Years for Scam
A Southern California insurance agent has been sentenced to 10 years in prison after pleading guilty to a $2.5 million fraud scheme. Prosecutors say Anthony Medina, who operated Prompt Insurance Ag (Wed, 05 Nov 2008 15:38:06 GMT)
Homeowners must take out UK-based insurance policies abroad, warns Tonic
Consumers buying insurance for property overseas should look to UK-based firms for cover to ensure they are protected under the Financial Services Compensation Scheme, warns insurance provider Tonic Underwriting. ... (Wed, 05 Nov 2008 15:48:43 GMT)
Ambac Insurance Strength Rating Lowered by Moody's (Update1)
Nov. 5 (Bloomberg) -- Ambac Financial Group Inc. 's bond insurance rating was cut four levels by Moody's Investors Service, forcing the company to post collateral and causing a cash shortfall at its financial services unit. (Wed, 05 Nov 2008 22:29:04 GMT)
Ambac Insurance Strength Rating Lowered by Moody's (Update2)
Nov. 5 (Bloomberg) -- Ambac Financial Group Inc. 's bond insurance rating was cut four levels by Moody's Investors Service, forcing the company to post collateral and causing a cash shortfall of about $3 billion at its investment unit. (Wed, 05 Nov 2008 23:39:15 GMT)
RSA Insurance premiums up
RSA Insurance , the biggest commercial insurer, posted an 11 percent rise in premiums for the first nine months of its financial year and reiterated a key profitability target for the full year. (Thu, 06 Nov 2008 07:57:00 GMT)
MN gets fed waiver for parents' health insurance
The federal government has given Minnesota a waiver that will keep 18,000 parents eligible for health insurance. At issue is Medicaid coverage for (Thu, 06 Nov 2008 12:15:38 GMT)
Gulf Insurance Institute launches Amwaj Island headquarters and first e-learning system for insurance
The Gulf Insurance Institute (GII) officially inaugurated its Bahrain headquarters under the patronage of HE the Minister of Labour. (Thu, 06 Nov 2008 12:40:37 GMT)
MN Gets Federal Waiver For Parents' Insurance
The federal government has given Minnesota a waiver that will keep 18,000 parents eligible for health insurance. (Thu, 06 Nov 2008 12:50:30 GMT)
Gallagher Acquires Roberts & Roberts Insurance in North Carolina
Insurance broker Arthur J. Gallagher & Co. reports it has acquired Roberts & Roberts Insurance Service, Inc. in Greensboro, North Carolina. Terms of the transaction were not disclosed. Formed in 19 (Thu, 06 Nov 2008 13:07:56 GMT)
Insurance firm realigns legal staff
DAYTONA BEACH -- Brown & Brown Inc., a national insurance agency, realigned its legal staff Wednesday with Laurel L. Grammig, who has been with the company since 1994, promoted to chief corporate counsel. (Thu, 06 Nov 2008 13:22:11 GMT)
Goodwin Wins North Carolina Insurance Commissioner Race
Democrat Wayne Goodwin has been elected as North Carolina's insurance commissioner, winning the race to succeed his boss and long-time commissioner Jim Long. With 96 percent of the precincts report (Thu, 06 Nov 2008 13:22:56 GMT)
Insurance firms eye top-ups
Insurance bosses believe there is a lucrative market opening up to sell policies to NHS patients after the decision to lift the top-ups ban. (Fri, 07 Nov 2008 00:07:15 GMT)
Governor aims to boost jobless insurance fund
Gov. Arnold Schwarzenegger unveiled a plan to fix California's near bankrupt unemployment insurance fund on Thursday by cutting worker benefits, increasing company payroll taxes and borrowing from the federal government. Alluding to projections that the fund would run a $2.4 deficit in 2009 and a $4.9 billion deficit by 2010 if the current system is unchanged, Schwar-zenegger said his proposals ... (Fri, 07 Nov 2008 08:11:49 GMT)
Dewhurst says Texas Senate leaders considering tax breaks to encourage firms to offer health insurance
AUSTIN – Lt. Gov. David Dewhurst said Thursday that Senate leaders are considering new tax incentives to encourage Texas businesses to provide health insurance for their employees. (Fri, 07 Nov 2008 08:51:02 GMT)
Man accused of insurance scheme
A 23-year-old Bear-area man was arrested Thursday in connection with an insurance scheme that involved having his car torched. (Fri, 07 Nov 2008 09:07:49 GMT)
Insurance hastens medical care
A Sault Ste. Marie insurance company offers a chance for expedited medical treatment, at a price. D. Ford Insurance & Financial Services, a chapter of [...] (Fri, 07 Nov 2008 12:04:14 GMT)
Recruiters clash over proposed OFW welfare insurance
MANILA, Philippines - Manpower agencies on Friday clashed over differing proposals for a mandatory welfare insurance program for overseas Filipino workers (OFW). (Fri, 07 Nov 2008 12:15:49 GMT)
Bankrupt insurance firm owes money to 2 Wichita banks
The bankruptcy of a northeast Kansas insurance company is affecting 11 Kansas-based banks, including two in Wichita. Fidelity Bank and RelianzBank are among the thousands of individuals and companies that are named as creditors in Brooke Corp.' s Chapter 11 reorganization bankruptcy, which was filed Oct. 28 in U.S. Bankruptcy Court in Kansas City, Kan. In the filing, Brooke listed assets of ... (Fri, 07 Nov 2008 12:28:27 GMT)
Schneider Nixes Recount in Close N.D. Insurance Commissioner Race
Adam Hamm said he was fielding telephone calls from a reporter about the deadlocked state insurance commissioner's race when Jasper Schneider, his Democratic election opponent, left a voice mail messa (Fri, 07 Nov 2008 13:07:56 GMT)
OneBeacon Professional Launches Realtors Liability Insurance Product
Canton, Mass.-based OneBeacon Professional Partners has unveiled a new professional liability insurance product for real estate professionals. The Realtors Errors and Omissions product includes a b (Fri, 07 Nov 2008 13:08:06 GMT)
Farmer accused of murdering wife to claim insurance FWi
A farmer killed his wife in an attempt to claim £400,000 in life insurance to fund an extravagant lifestyle with his lover, a court has been told. (Fri, 07 Nov 2008 15:48:31 GMT)
Is your insurance safe?
Major U.S. life insurers like MetLife, Prudential Financial and the Hartford are reeling from third-quarter losses. Here are answers to some basic questions about the safety of life insurance policies. (Fri, 07 Nov 2008 17:52:15 GMT)
Farmers Insurance plans to up rates in Texas
Farmers Insurance has filed for an average rate increase of 9.9 percent for Texas homeowners insurance policies. (Sat, 08 Nov 2008 04:44:58 GMT)
Berkshire Hathaway Profit Falls 77% on Investments, Insurance
Nov. 8 (Bloomberg) -- Billionaire Warren Buffett 's Berkshire Hathaway Inc. posted a fourth straight profit drop, the longest streak of quarterly declines in more than a decade, as hurricanes hurt returns at insurance operations and investments lost value. (Sat, 08 Nov 2008 06:31:19 GMT)
Beware of predatory insurance sellers
Seniors should watch out for predatory insurance sellers over the coming weeks, state Insurance Commissioner Steve Poizner said Friday. The six-week open enrollment for several Medicare programs starts Nov. 15. Unscrupulous agents and brokers may try to pressure or defraud the elderly, Poizner said in a statement that offered tips to avoid being ripped off: • Contact the Insurance Department's ... (Sat, 08 Nov 2008 08:11:26 GMT)
Insurance documents will be released, judge rules
OLYMPIA — A Thurston County Superior Judge has ordered the state Office of the Insurance Commissioner to release documents relating to consumer complaints over last December’s storm that had been in limbo for the past month. (Sat, 08 Nov 2008 09:18:44 GMT)
Lampson: flood insurance mandate dead in Congress
A congressional proposal to mandate flood insurance for homes behind levees has been defeated, U.S. Rep. Nick Lampson, said Wednesday night. (Sat, 08 Nov 2008 09:22:57 GMT)
China allows insurance funds to invest in non-listed companies
China will allow insurance funds to invest in non-listed companies so as to increase their investment opportunities, China Insurance Regulatory Commission (CIRC) spokesman Yuan Li told reporters on Friday. The State Council, or Cabinet, has given its approval to the idea and the CIRC was drawing up relevant measures, Yuan said. Trial programs would start with major domestic insurers, which had ... (Sat, 08 Nov 2008 14:26:30 GMT)
MoH eyes new way to implement 'health insurance' for expatriates
07 November 2008 KUWAIT CITY: The Ministry of Health (MoH) Ministry of Health (MoH) will soon implement the basic health insurance system for expatriates through the allocation of three proposed hospital sites for expatriates, reports Al-Seyassah quoting Minister Ali Al-Barrak. (Sat, 08 Nov 2008 14:28:24 GMT)
Farmers Insurance plans to increase rates
Austin (AP) - Farmers Insurance has filed for an average rate increase of 9.9 percent for homeowners insurance policies effective in February, state and company officials said Friday. (Sat, 08 Nov 2008 14:33:57 GMT)
Farmers Insurance plans big increase in Texas homeowners rates
AUSTIN – Farmers Insurance plans to impose double-digit rate hikes for hundreds of thousands of its customers in North Texas and across the state, blaming the increase on rising costs for labor and building materials. (Sat, 08 Nov 2008 15:50:52 GMT)
Farmers Insurance plans big increase in Texas homeowners rates
AUSTIN – Farmers Insurance plans to impose double-digit rate hikes for hundreds of thousands of its customers in North Texas and across the state, blaming the increase on rising costs for labor and building materials. (Sat, 08 Nov 2008 15:51:37 GMT)
Pos Malaysia teams up with RHB Insurance (Business Times
POS Malaysia Bhd has teamed up with RHB Insurance Bhd to launch a hospital cash income plan to provide cash relief for policyholders to cope with medical expenses. (Sat, 08 Nov 2008 19:21:44 GMT)
‘Volatile market fit for life insurance investment’
Insurance business is tightly regulated in India (Sat, 08 Nov 2008 20:21:15 GMT)
China Opens Insurance Fund Investment In Non-listed Cos.
(RTTNews) - The Chinese insurance regulatory authority, China Insurance Regulatory Commission, said Friday that it would permit investment of insurance funds in non-listed companies to enable insurers increase investment opportunities. (Sun, 09 Nov 2008 01:28:40 GMT)
Lampson: flood insurance mandate dead in Congress
A congressional proposal to mandate flood insurance for homes behind levees has been defeated, U.S. Rep. Nick Lampson, said Wednesday night. (Sun, 09 Nov 2008 08:30:03 GMT)
AARP insurance comes from private firm
Sheryl Harris writes this column in The Plain Dealer on Sundays.Previous columns onlinePLAIN DEALINGA weekly column about consumer affairsQ: My wife and I have had AARP insurance since 1982. This year, when we decided to get shingles vaccinations, we... (Sun, 09 Nov 2008 09:09:26 GMT)
BoB likely to start life insurance biz early next fiscal
State-run Bank of Baroda has said its life insurance venture with the UK-based Legal and General Group is expected to start business in the first quarter of the next fiscal. (Sun, 09 Nov 2008 09:43:57 GMT)
Hundreds of Mingo workers will feel public insurance increases
Hundreds of Mingo Countians and other West Virginians could be paying 9 percent more for insurance premiums by next year, or at least face higher copays. (Sun, 09 Nov 2008 14:58:44 GMT)
Insurance and Transport
Credit Default Swaps ("CDS") are part of a $62 trillion market, that have gone from obscure to infamous in a matter of months, if not weeks. Yet along the way, many people were left without a clear understanding of what CDS are—particularly, in what ways CDS are like or unlike insurance. (Sun, 09 Nov 2008 15:30:26 GMT)
Claims flood insurance brokers
VietNamNet Bridge – Insurance companies expect to suffer serious headaches when it comes time to distribute compensation to auto owners for vehicles damaged during the worst flooding in three decades. (Mon, 10 Nov 2008 09:57:05 GMT)
Government provides new loans to insurance giant American International Group
WASHINGTON - Government provides new loans to insurance giant American International Group. Comments are subject to the site's terms of use and do not necessarily reflect the opinion or approval of the Star Tribune. (Mon, 10 Nov 2008 11:09:30 GMT)
Camerons’ insurance switch: timely change or risky business?
Most insurance practices are broadening their platforms to capture a more significant proportion of work because the pressure on profit margins and the demand for quality is high. (Mon, 10 Nov 2008 11:18:31 GMT)
CNP Owners Back Cash Bid for Natixis Insurance Unit, Echos Says
Nov. 10 (Bloomberg) -- CNP Assurances SA, France's largest life insurer, has the support of its shareholders for a cash bid for the insurance unit of Natixis SA, Les Echos reported, citing an unidentified person. (Mon, 10 Nov 2008 11:52:24 GMT)
Auto insurance
Find out what to do if you've been in a car accident, and which cars are most costly to insure. Chances are it's the price of gas, not auto insurance, that's driving you to the poor house. (Mon, 10 Nov 2008 12:07:34 GMT)
Gov't provides $150 billion aid package to insurance giant AIG; largest-ever private bailout
WASHINGTON - In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. (Mon, 10 Nov 2008 12:24:40 GMT)
AMMB HOLDINGS'S SUBSIDIARY ACQUIRES MAA HOLDINGS'S INSURANCE UNIT
KUALA LUMPUR, Nov 10 (Bernama) -- AMMB Holdings Bhd's (AHB) 70 percent owned subsidiary, AmG Insurance Bhd, has made an offer for MAA Holdings general insurance unit at a headline price of RM274.8 million as well as a 4.9 percent stake in MAA Takaful at RM16.2 million. (Mon, 10 Nov 2008 12:43:07 GMT)
Atlanta-Based Ebix Buys Insurance Certificate Service ConfirmNet
Atlanta-based insurance software developer Ebix, Inc. has agreed to acquire San Diego based ConfirmNet Corp. effective Nov. 1, 2008. The closing is expected subject to the merger being ratified by t (Mon, 10 Nov 2008 15:07:58 GMT)
New fire hydrants could cut insurance
Homeowners in a section of Reading Township that will eventually be served by York Water Co. could see a reduction in their fire-insurance premiums next year. (Mon, 10 Nov 2008 15:19:42 GMT)
Kingsway to Consolidate Alabama, Florida Insurance Operations
Toronto-based Kingsway Financial Services Inc. said it will consolidate the operations of Southern United Fire Insurance Co., based in Mobile, Alabama, with Hamilton Risk Management, its subsidiary ba (Mon, 10 Nov 2008 15:39:44 GMT)
US expands record bailout of insurance giant AIG
The US government announced Monday an expanded bailout for insurance giant AIG of more than 150 billion dollars, as the Treasury tapped into emergency funds originally set for banks. (Mon, 10 Nov 2008 22:12:35 GMT)
Vienna Insurance Third-Quarter Net Rises on East European Sales
Nov. 11 (Bloomberg) -- Vienna Insurance Group , Austria's biggest insurer, said third-quarter profit climbed 3.4 percent after selling more life and auto insurance policies in eastern Europe. (Tue, 11 Nov 2008 07:46:17 GMT)
More federal aid going to insurance giant AIG
(By Jeannine Aversa, Associated Press) In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action, announced by the Federal Reserve and the Treasury Department, was taken as it became increasingly clear that an original ... (Tue, 11 Nov 2008 12:01:36 GMT)
Ex-La. insurance CEO targeted in audit
The former chief executive at Louisiana's last-resort insurance company "extravagantly" overspent the firm's money, with over $100,000 in questionable expenses including first-class airfare, expensive meals and LSU football tickets, state auditors said in a report released Monday. (Tue, 11 Nov 2008 13:30:20 GMT)
PTYA: To Sell Network Insurance Senior Health Division
Penn Treaty American Corporation (PTYA) has entered into a non-binding letter of intent to sell its wholly-owned subsidiary, Network Insurance Senior Health Division ("ISHD"). The Company will disclose the identity of the purchaser and the material terms of the offer upon the completion of definitive documentation. (Tue, 11 Nov 2008 13:58:44 GMT)
Group Rates States on Consumer Insurance Information on Web
A national consumer group says state insurance departments vary in the quality of the information they provide consumers online, with only six states doing an excellent job. State insurance departm (Tue, 11 Nov 2008 14:07:56 GMT)
Banking & Finance: P500,000 deposit insurance favored
THE HOUSE COMMITTEE on banks and financial intermediaries yesterday said it favors a 100% increase in the deposit insurance coverage, although it would still study the state deposit insurer's proposal to raise this by 300%. (Tue, 11 Nov 2008 14:55:27 GMT)
Editorial: Terry Lisotta was living high on Citizens insurance corp.
Terry Lisotta racked up more than $285,000 in expenses during three years at the helm of Louisiana's state-run property insurance program -- a lavish amount considering that the insurer of last resort is not supposed to compete with the private sector. (Tue, 11 Nov 2008 14:56:17 GMT)
Aviator Group Names NationAir as Preferred Insurance Provider
NationAir Aviation Insurance recently announced that it has been named the preferred aviation insurance provider for the Cirrus Owners and Pilots Association (COPA). Through the preferred broker re (Tue, 11 Nov 2008 15:07:56 GMT)
Marietta Chiropractor Guilty Of Bilking Insurance Company
ATLANTA -- A suburban Atlanta chiropractor has been convicted of bilking an insurance company out of millions by filing false paperwork. A U.S. District Court jury on Monday found Dr. William Stearns of Marietta guilty of health care fraud and money laundering. (Tue, 11 Nov 2008 15:52:51 GMT)
What You Need to Know: Insurance Benefits
Almost all federal jobs come with eligibility to enroll in four types of insurance: health, life, dental/vision and long-term care. In each case the benefits are provided not by the government itself but by private sector companies under contract and premiums that are set at lower, group rates. (Wed, 12 Nov 2008 05:42:20 GMT)
Geisinger insurance, HMO nationally ranked
DANVILLE — U.S. News & World Report magazine has ranked Geisinger Health System’s commercial health maintenance organization insurance plan fifth-best in the nation, and dubbed Geisinger’s Medicare HMO third-best. (Wed, 12 Nov 2008 09:26:31 GMT)
Life insurance association urges insurers to revise shield plan benefits
SINGAPORE : The Life Insurance Association of Singapore has urged insurers to review the benefits of their integrated shield plans. (Wed, 12 Nov 2008 11:10:35 GMT)
Weymouth unions, town have deal on joining state health insurance plan
Weymouth officials and unionized employees have reached a tentative agreement to move into the state health insurance program, a move that is expected to save about $6 million a year. (Wed, 12 Nov 2008 12:05:01 GMT)
Study:Individual Health Insurance Premiums Average $158/Month
A new study shows that half of all individual health insurance policyholders paid less than $130 a month for coverage, according to eHealth Inc. (EHTH), parent company of eHealthInsurance. (Wed, 12 Nov 2008 14:16:43 GMT)
New Ala. insurance chief looks for ways to help coastal property owners deal with high premiums
Gov. Bob Riley’s new insurance commissioner said the administration is looking at ways to help coastal property owners struggling with high premiums and lost coverage in the wake of hurricanes, including possible state assistance. Insurance Commissioner Jim Ridling, appointed in September, spoke Tuesday at a public meeting in Theodore that drew about 200 residents. (Wed, 12 Nov 2008 15:17:19 GMT)
(AFX UK Focus) 2008-11-12 15:07 DSG says Atradius cuts credit insurance to retailers
LONDON, Nov 12 (Reuters) - Credit insurer Atradius has cut back its provision of credit insurance for companies which supply the retail sector, including some suppliers of DSG International, the British electrical goods retailer said. A spokeswoman for Atradius had no immediate comment. "Atradius is only one provider of credit insurance in the market. Whilst it is true Atradius have reduced, but ... (Wed, 12 Nov 2008 15:34:50 GMT)
Old Firm avoid each other in Co-operative Insurance Cup draw
The Old Firm have avoided each other in the Co-operative Insurance Cup semi-finals. Holders Rangers were today drawn against Falkirk. Celtic will play Dundee United, last season's runners-up. (Wed, 12 Nov 2008 15:37:23 GMT)
Avalon Healthcare names insurance vet to board
Avalon Healthcare Holdings Inc. added to its board of directors with the appointment of Kevin Hill, a health insurance industry veteran. (UNH) (Wed, 12 Nov 2008 15:40:07 GMT)
Massachusetts Approves New Rates for Electric Insurance Co.
Beverly, Massachusetts-based personal lines insurer Electric Insurance Co. said the Massachusetts Department of Insurance has approved its newest rate filing, which will decrease its personal auto ins (Wed, 12 Nov 2008 15:53:16 GMT)
Senate Finance Chief Calls for Mandatory Insurance
Nov. 12 (Bloomberg) -- Senator Max Baucus, presenting the first Democratic health plan since President-elect Barack Obama's victory, said all Americans should be required to have insurance once coverage is made affordable. (Wed, 12 Nov 2008 22:58:59 GMT)
Loan insurance 'delay' proposed
A crackdown on the sale of payment protection insurance for loans is proposed by the Competition Commission. (Thu, 13 Nov 2008 07:36:57 GMT)
European insurance sector a buying opportunity
(Reuters) - ING said the European insurance sector offers a good buying opportunity as it is at a 20-year relative low and fears of equity gearing, corporate bond exposure and solvency are overdone. (Thu, 13 Nov 2008 09:30:00 GMT)
Texas company launches pay-by-the-mile car insurance
A Dallas-based company has begun offering Texans auto insurance by the mile. (Thu, 13 Nov 2008 10:25:27 GMT)
Dexia May Post Quarterly Loss on Bond Insurance Unit, Lehman
Nov. 13 (Bloomberg) -- Dexia SA , the world's largest lender to local governments, will probably post a loss in the third quarter, hurt by provisions at its U.S. bond-insurance unit and the impact of Lehman Brothers Holdings Inc.'s bankruptcy. (Thu, 13 Nov 2008 11:49:16 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. (Thu, 13 Nov 2008 12:32:03 GMT)
New Alabama insurance chief weighs coastal options
Gov. Bob Riley's new insurance commissioner said the administration is looking at ways to help coastal property owners struggling with high premiums and lost coverage in the wake of hurricanes,... (Thu, 13 Nov 2008 14:26:17 GMT)
Georgia Unemployment Insurance Claims Soar
Initial unemployment insurance claims have risen 75 percent in the Peach State. (Thu, 13 Nov 2008 15:13:39 GMT)
Zurich and Farmers Insurance Re-Affirm Commitment to New Orleans Schools with a New Educational Donation
Zurich Financial Services and Farmers Insurance Group Inc(R) are proud to announce another educational donation to help enrich New Orleans schools. Farmers' newest documentary, Across the Waves, will be unveiled in Louisiana on Thursday, November 13, at 11:00 a.m. at a special screening for students at Haynes Academy. (Thu, 13 Nov 2008 15:25:18 GMT)
Forum set on insurance for long-term care
Marin County residents are invited to learn about long-term care insurance and the long-term care planning process at a free workshop sponsored by members of the American Association of Long-Term Care Insurance. (Thu, 13 Nov 2008 15:31:23 GMT)
OTP Third-Quarter Net Triples on Insurance Unit Sale (Update1)
Nov. 14 (Bloomberg) -- OTP Bank Nyrt. , Hungary's largest bank, said third-quarter profit tripled on a gain from the sale of its insurance division. Net income rose to a record 168.7 billion forint ($802 million) from 55.8 billion forint a year earlier, the Budapest- based bank said in a statement on the Budapest stock exchange Web site. (Fri, 14 Nov 2008 07:16:20 GMT)
Dexia to Sell U.S. Bond Insurance Business to Assured Guaranty
Nov. 14 (Bloomberg) -- Dexia SA , the world's largest lender to local governments, agreed to sell its U.S. bond insurance business to Assured Guaranty Ltd. for a total of $722 million. (Fri, 14 Nov 2008 07:40:44 GMT)
Iowa insurance consumer advocate ready to help
Gov. Chet Culver has announced that Angel Robinson will become Iowa’s first insurance consumer advocate. Legislation adopted last session established a Consumer Advocate Bureau within the Division of Insurance. The Insurance Commissioner, after consulting the governor, appoints an advocate knowledgeable in the area of insurance and particularly in the area of consumer protection. (Fri, 14 Nov 2008 10:09:22 GMT)
State insurance commissioner says the worst is over
PEARL RIVER - Our nation’s economy crisis has peaked out, and that is good news, according to New York State Insurance Department Superintendent Eric Dinallo. (Fri, 14 Nov 2008 11:43:47 GMT)
Trustco of Namibia Says 6-Month Profit Doubles on Insurance
Nov. 14 (Bloomberg) -- Trustco Group Holdings Ltd. , a Namibian company with investments in insurance, real estate and publishing, said six-month profit doubled on stronger earnings from its insurance operations. (Fri, 14 Nov 2008 12:07:04 GMT)
Damage Control at Insurance Companies
Individual investors aren't the only ones scared to look at their portfolios. Insurance giants are also watching their holdings wither, a situation that could have serious implications for their customers and the markets. The biggest independent life insurer, MetLife, reported total paper losses of $12.2 billion on its $340 billion portfolio. "You have to plan for things to be depressed for the ... (Fri, 14 Nov 2008 13:08:42 GMT)
Sterling Bancorp to remain in insurance program
Sterling Bancorp, parent of Sterling National Bank, said Friday it will continue to participate in the Federal Deposit Insurance Corp.'s program to provide 100 percent insurance coverage to noninterest-bearing accounts. (Fri, 14 Nov 2008 13:22:57 GMT)
More pet owners are using insurance to save on veterinary costs
Cheryl Martin of Annapolis spends quality time with Freya, left, and Kodiak. She and her husband spend $800 a year on the dogs' health insurance, which helped reduce the roughly $7,000 medical bill for the dogs' treatments and surgeries. (Fri, 14 Nov 2008 13:57:38 GMT)
October initial unemployment insurance claims rise 75 percent
The Georgia Department of Labor announced Thursday that 72,627 laid-off workers filed first-time claims for unemployment insurance benefits in October, an increase of 75 percent from October 2007. (Fri, 14 Nov 2008 14:12:04 GMT)
Insurance policyholders moving out of Citizens
As many as 110,000 policies will be removed from Citizens Property Insurance Corp., the state’s insurance safety net, and moved to six private companies, effective Friday, according to the Florida Department of Insurance Regulation. (Fri, 14 Nov 2008 14:24:24 GMT)
Your Insurance Company, and Related Worries
What has happened in the past when insurance companies have gone under? What might happen to your life policy or annuity in a worst case scenario? Is there anything you can do to protect yourself? (Fri, 14 Nov 2008 21:00:21 GMT)
Kane County looks to push employees to HMO as insurance costs rise
Kane County government and its employees will take a financial hit through increased health insurance costs unless the county can lure workers into cheaper programs. (Sat, 15 Nov 2008 06:21:37 GMT)
Insurance
Four insurance companies on Friday asked the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National Corp. and Aegon NV, a Dutch company that owns U.S. insurer Transamerica, each asked the Office of Thrift Supervision for permission to acquire an ... (Sat, 15 Nov 2008 08:14:37 GMT)
People's Trust Homeowners Insurance in Boca Raton offers discounted rates
Retired businessman started Florida discount firm Fed up with a property insurance bill that quadrupled after the hurricanes of 2004 and 2005, retired Florida businessman Mike Gold decided to take a stab at the insurance trade. (Sat, 15 Nov 2008 08:15:47 GMT)
Business news in brief: Insurance firms want to buy thrifts
Four insurance companies are asking the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. (Sat, 15 Nov 2008 08:28:29 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. (Sat, 15 Nov 2008 11:50:53 GMT)
Travel Insurance: When cold feet turns into empty pockets
What happens when you pay for your vacation up front, but you have to back out of the deal? Should your trip insurance still kick in? Smart Money expert Bruce... (Sat, 15 Nov 2008 13:49:40 GMT)
Villages' help sought on paying health insurance
CITY OF SAN FERNANDO -- To better provide efficient health care services to indigents in Pampanga, the Provincial Government has come out with a new scheme in the payment of Philhealth insurance. (Sat, 15 Nov 2008 13:52:36 GMT)
Insurance companies warn customers not to take a punt
As the credit crunch bites, struggling families are cutting their insurance cover to free up money - a dangerous move according to insurance companies. (Sat, 15 Nov 2008 15:32:22 GMT)
State hearing tackles insurance rates
DETROIT -- A crowd of at least 75 people jammed into a downtown state office Saturday, spilling out into its lobby as visitors listened to testimony on auto insurance rates here. (Sat, 15 Nov 2008 21:17:24 GMT)
Cheaper Health Insurance Opportunity For Small Businesses
Small businesses in Colorado have something to look forward to, lower health insurance premiums. (Sat, 15 Nov 2008 22:45:45 GMT)
Consumer Rights: the insurance I had to pay twice
Q: I am furious at being made to pay twice for insurance on the same property. The property in question is a small flat I purchased on South Terrace in Littlehampton, West Sussex. Insurance has recently become the responsibility of Pier Management, which is demanding £331 for cover from 24 December 2007 to 23 December 2008. Under threat of a fine, I paid this by credit card. (Sun, 16 Nov 2008 00:19:28 GMT)
Residents weigh choice of settling for reduced insurance claim
DALLAS CITY, Ill. -- Dallas City residents faced a choice last week to accept a reduced insurance settlement for claims from a carbon black spill in June or pursue the matter in court. (Sun, 16 Nov 2008 03:51:23 GMT)
Higher insurance costs erode savings on small cars
This year’s higher gasoline prices are prompting drivers to switch to smaller, more fuel-efficient cars. The trouble is, some of the money they save may be going to higher insurance premiums. Small cars generally cost more to insure than larger ones because they’re involved in more accidents and incur bigger claims, especially for injuries. That’s true regardless of the driver profile, though ... (Sun, 16 Nov 2008 05:03:39 GMT)
Travel insurance takes worry off the itinerary
Travel insurance deserves strong consideration in today's tourism climate, despite incomprehensible forms and policies, not to mention the additional cost. (Sun, 16 Nov 2008 06:24:19 GMT)
Insurance race relied less on industry
The percentage of money in the campaign for N.C. Commissioner of Insurance that came from industries regulated by that office plummeted from 66 percent in 2004 to 5 percent this year, according to N.C. Voters for Clean Elections. (Sun, 16 Nov 2008 07:44:56 GMT)
1 2 Next
|
