Insurance News 11/2008 (Page 2)
Gulf Insurance Institute launches Amwaj Island headquarters and first e-learning system for insurance (AME Info)
The Gulf Insurance Institute (GII) officially inaugurated its Bahrain headquarters under the patronage of HE the Minister of Labour.
(Nov 6, 2008)
MN Gets Federal Waiver For Parents' Insurance (WCCO Minneapolis - St. Paul)
The federal government has given Minnesota a waiver that will keep 18,000 parents eligible for health insurance.
(Nov 6, 2008)
Gallagher Acquires Roberts & Roberts Insurance in North Carolina (Insurance Journal)
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
(Nov 6, 2008)
Insurance firm realigns legal staff (Daytona Beach News-Journal)
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.
(Nov 6, 2008)
Goodwin Wins North Carolina Insurance Commissioner Race (Insurance Journal)
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
(Nov 6, 2008)
Insurance firms eye top-ups (BBC News)
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.
(Nov 7, 2008)
Governor aims to boost jobless insurance fund (The Sacramento Bee)
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 ...
(Nov 7, 2008)
Dewhurst says Texas Senate leaders considering tax breaks to encourage firms to offer health insurance (Dallas Morning News)
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.
(Nov 7, 2008)
Man accused of insurance scheme (The News Journal)
A 23-year-old Bear-area man was arrested Thursday in connection with an insurance scheme that involved having his car torched.
(Nov 7, 2008)
Insurance hastens medical care (The Sault Star)
A Sault Ste. Marie insurance company offers a chance for expedited medical treatment, at a price. D. Ford Insurance & Financial Services, a chapter of [...]
(Nov 7, 2008)
Recruiters clash over proposed OFW welfare insurance (GMA News)
MANILA, Philippines - Manpower agencies on Friday clashed over differing proposals for a mandatory welfare insurance program for overseas Filipino workers (OFW).
(Nov 7, 2008)
Bankrupt insurance firm owes money to 2 Wichita banks (The Wichita Eagle)
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 ...
(Nov 7, 2008)
Schneider Nixes Recount in Close N.D. Insurance Commissioner Race (Insurance Journal)
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
(Nov 7, 2008)
OneBeacon Professional Launches Realtors Liability Insurance Product (Insurance Journal)
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
(Nov 7, 2008)
Farmer accused of murdering wife to claim insurance FWi (Farmers Weekly Interactive)
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.
(Nov 7, 2008)
Is your insurance safe? (International Herald Tribune)
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.
(Nov 7, 2008)
Farmers Insurance plans to up rates in Texas (News 8 Austin)
Farmers Insurance has filed for an average rate increase of 9.9 percent for Texas homeowners insurance policies.
(Nov 8, 2008)
Berkshire Hathaway Profit Falls 77% on Investments, Insurance (Bloomberg)
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.
(Nov 8, 2008)
Beware of predatory insurance sellers (The Sacramento Bee)
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 ...
(Nov 8, 2008)
Insurance documents will be released, judge rules (The Daily World)
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.
(Nov 8, 2008)
Lampson: flood insurance mandate dead in Congress (Sugar Land Sun)
A congressional proposal to mandate flood insurance for homes behind levees has been defeated, U.S. Rep. Nick Lampson, said Wednesday night.
(Nov 8, 2008)
China allows insurance funds to invest in non-listed companies (People's Daily)
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 ...
(Nov 8, 2008)
MoH eyes new way to implement 'health insurance' for expatriates (Zawya)
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.
(Nov 8, 2008)
Farmers Insurance plans to increase rates (KAUZ Wichita Falls)
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.
(Nov 8, 2008)
Farmers Insurance plans big increase in Texas homeowners rates (Dallas Morning News)
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.
(Nov 8, 2008)
Farmers Insurance plans big increase in Texas homeowners rates (Dallas Morning News)
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.
(Nov 8, 2008)
Pos Malaysia teams up with RHB Insurance (Business Times (Malaysia))
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.
(Nov 8, 2008)
‘Volatile market fit for life insurance investment’ (The Hindu)
Insurance business is tightly regulated in India
(Nov 8, 2008)
China Opens Insurance Fund Investment In Non-listed Cos. (Nasdaq)
(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.
(Nov 9, 2008)
Lampson: flood insurance mandate dead in Congress (Sugar Land Sun)
A congressional proposal to mandate flood insurance for homes behind levees has been defeated, U.S. Rep. Nick Lampson, said Wednesday night.
(Nov 9, 2008)
AARP insurance comes from private firm (The Cleveland Plain Dealer)
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...
(Nov 9, 2008)
BoB likely to start life insurance biz early next fiscal (Business Standard India)
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.
(Nov 9, 2008)
Hundreds of Mingo workers will feel public insurance increases (Williamson Daily News)
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.
(Nov 9, 2008)
Insurance and Transport (Mondaq)
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.
(Nov 9, 2008)
Claims flood insurance brokers (Vietnam Net)
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.
(Nov 10, 2008)
Government provides new loans to insurance giant American International Group (Minneapolis-St. Paul Star Tribune)
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.
(Nov 10, 2008)
Camerons’ insurance switch: timely change or risky business? (The Lawyer)
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.
(Nov 10, 2008)
CNP Owners Back Cash Bid for Natixis Insurance Unit, Echos Says (Bloomberg)
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.
(Nov 10, 2008)
Auto insurance (Bankrate.com)
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.
(Nov 10, 2008)
Gov't provides $150 billion aid package to insurance giant AIG; largest-ever private bailout (Minneapolis-St. Paul Star Tribune)
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.
(Nov 10, 2008)
AMMB HOLDINGS'S SUBSIDIARY ACQUIRES MAA HOLDINGS'S INSURANCE UNIT (Bernama via Yahoo! Malaysia News)
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.
(Nov 10, 2008)
Atlanta-Based Ebix Buys Insurance Certificate Service ConfirmNet (Insurance Journal)
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
(Nov 10, 2008)
New fire hydrants could cut insurance (The Evening Sun)
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.
(Nov 10, 2008)
Kingsway to Consolidate Alabama, Florida Insurance Operations (Insurance Journal)
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
(Nov 10, 2008)
US expands record bailout of insurance giant AIG (AFP via Yahoo! News)
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.
(Nov 10, 2008)
Vienna Insurance Third-Quarter Net Rises on East European Sales (Bloomberg)
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.
(Nov 11, 2008)
More federal aid going to insurance giant AIG (The Charlotte Observer)
(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 ...
(Nov 11, 2008)
Ex-La. insurance CEO targeted in audit (AP via Yahoo! Finance)
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.
(Nov 11, 2008)
PTYA: To Sell Network Insurance Senior Health Division (Nasdaq)
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.
(Nov 11, 2008)
Group Rates States on Consumer Insurance Information on Web (Insurance Journal)
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
(Nov 11, 2008)
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