Insurance News 12/2008 (Page 2)
Ruling limits reasons for denying insurance (Billings Gazette)
HELENA - Health insurance consumers in Montana won a key court victory this week as a state judge ruled that state Auditor John Morrison has properly prohibited "discretionary clauses" that give insurers broad power to deny coverage.
(Dec 6, 2008)
Subsidized Insurance Backed (Washington Post)
Maryland health advocates unveiled a $15.5 billion proposal yesterday for universal health care that would subsidize insurance coverage for low-income residents with a payroll tax and increases to cigarette and alcohol taxes.
(Dec 6, 2008)
Chiropractor faces insurance fraud, theft charges (The Citizens' Voice)
Fraud investigators on Friday filed charges against a Wilkes-Barre chiropractor accused of defrauding patients and insurance companies of nearly $35,000 since 2003.
(Dec 6, 2008)
Commissioners court changes insurance, signs juvenile defendant agreement (Cleveland Advocate)
The Liberty County Commissioners Court voted to increase insurance coverage for county employees and their families. The vote expanded the limits for chiropractic, dental, orthodontic and preventive care.
(Dec 6, 2008)
N.Y. Probes Student Insurance (Washington Post)
Georgetown University has received a subpoena from New York Attorney General Andrew M. Cuomo as part of a broader investigation into how colleges interact with health insurance providers.
(Dec 6, 2008)
There's No Debating This Policy: Everyone Needs Renter's Insurance (Washington Post)
Q: Washington: Do you recommend renter's insurance? I've lived in my apartment for two years. Where would I get it from, the apartment's management?
(Dec 6, 2008)
Insurance Requirements Concern Tenant, but They Are Legitimate (Washington Post)
Q: I am a tenant, and the owner of my apartment complex recently sent notification to the residents that as a condition of our lease, we are required to have $100,000 in renter's insurance coverage in case of damage to the apartment.
(Dec 6, 2008)
Kefalas to advance statewide insurance (The Fort Collins Coloradoan)
DENVER - Fort Collins Democratic Rep. John Kefalas will introduce legislation in January to provide health-care insurance coverage for all Colorado residents.
(Dec 6, 2008)
Readers Speak Out on Insurance Fee Changes (Washington Post)
We like to hear from our readers. From time to time the Federal Diary prints a "speak out" column featuring your thoughts. The Nov. 26 and subsequent columns on planned changes in the Blue Cross/Blue Shield standard option insurance plan for federal employees generated lots of comments.
(Dec 6, 2008)
N.Y. Probes Student Insurance (Washington Post)
Georgetown University has received a subpoena from New York Attorney General Andrew M. Cuomo as part of a broader investigation into how colleges interact with health insurance providers.
(Dec 6, 2008)
S China city cuts unemployment insurance premium for enterprises amid financial crisis (People's Daily)
South China's Guangzhou city will reduce the unemployment insurance premium for enterprises next year, aiming to partly offset the impact of the global financial crisis. Cui Renquan, head of the city's bureau of labor and social security, said "unemployment insurance premium will be reduced by a big margin starting from January to alleviate burden of enterprises, especially those labor-intensive ...
(Dec 7, 2008)
State forces health insurance firm to pay claims (Concord Monitor)
State residents who bought health insurance from the John Alden or Fortis insurance companies since 2002 are eligible for restitution of some denied claims.
(Dec 7, 2008)
Deadline is Monday to buy flood insurance for less (The Sacramento Bee)
Natomas residents must purchase flood insurance before Monday to take advantage of a preferred rate. Thousands of Natomas residents are being required to purchase flood insurance because of concerns about the condition of the community's levees. While the cost of that insurance is several hundred dollars for one year of coverage, failure to purchase it before Monday will cost homeowners much ...
(Dec 7, 2008)
No job doesn't have to mean no insurance (Los Angeles Times)
Laid-off workers are guaranteed an opportunity to obtain coverage, if they can afford it. If you lose your job, you should be able to maintain your health insurance coverage -- but it will cost you.
(Dec 7, 2008)
Bank will buy more insurance coverage (The Springfield News-Leader)
Great Southern Bank announced Friday it will purchase additional FDIC insurance coverage for its customers.
(Dec 7, 2008)
Insurance firms hurt by GMWB annuities; don't you be (San Diego Union-Tribune)
A popular variable annuity – the one with guaranteed “living benefits” – may be the riskiest product ever sold by the insurance industry. Risky to the health of the insurance carriers, that is. The guarantees are costing them far more than the premiums they charge, and their stock prices have plunged.
(Dec 7, 2008)
Mauldin health insurance rates increasing 16 percent (Spartanburg Herald-Journal)
Due to a handful of large claims insurance rates for the city will increase 16 percent, according to city administrator Trey Eubanks.
(Dec 7, 2008)
Village hoping to cut costs of insurance plan (Morris Daily Herald)
MINOOKA - The village will participate in a Minimum/Maximum Program with the Illinois Municipal League Risk Management Association as part of its insurance renewal.
(Dec 7, 2008)
Open enrollment set for govt's health insurance (Saipan Tribune)
The NMI Retirement Fund has announced an open enrollment period for employees and retirees wishing to participate in the government's group health insurance program.
(Dec 7, 2008)
In case of death or disability, key person insurance can save biz (BizJournals)
Life throws curveballs. We know it. Successful businesses plan for it. Most businesses have plans in place to help protect themselves against the type of curve ball that results in the damage or destruction of their property or equipment (property and casualty insurance). However, too few have plans in place to protect their businesses from the economic impact of the death or disability of an ...
(Dec 8, 2008)
Experts examine risk-pooling through insurance to help poor countries cope with climate change (EurekAlert!)
The role of insurance mechanisms in helping poor countries cope with climate change will be taken up at climate talks in Poland.
(Dec 8, 2008)
5 knocks on renters insurance -- all bogus (Bankrate.com via Yahoo! Finance)
Half the 87 million Americans living in rental housing have no insurance on the contents of their home and stand to face a total loss in the even of theft or fire -- an increasing concern as we head into the holiday season.
(Dec 8, 2008)
Insurance firms to pay $1.9M (Portsmouth Herald)
CONCORD and#8212; New Hampshire Insurance Commissioner Roger Sevigny announced last week that John Alden Life Insurance Co. and Fortis Insurance Co. have entered into a consent order with the New Hampshire Insurance Department that includes a $900,000...
(Dec 8, 2008)
IOB Inks Pact With Japan-Based Insurance Company (Nasdaq)
(RTTNews) - Public sector lender Indian Overseas Bank on Monday inked an agreement with Japan-based Universal Sompo General Insurance Co. or USGICL for distributing products of the non-life insurer, reports media.
(Dec 8, 2008)
Unions oppose FDI increase in public insurance companies (Calcutta News)
Over 150,000 public sector insurance employees will strike work for a day if the government decides to raise foreign direct investment (FDI) limit to 49 percent from the current 26 percent, an employees' union said Monday.
(Dec 8, 2008)
Life insurance products sales fall 38 percent in October (New Kerala)
By Venkatachari Jagannathan, Chennai, Dec 8: After growing at breakneck speed for the past several years, the Indian life insurance sector has hit the speed breaker with the industry witnessing a premium fall of nearly 38 percent in October over the September figures this year.
(Dec 8, 2008)
Helping Poor Countries Cope With Climate Change With Risk-pooling Through Insurance (Science Daily)
The role of insurance mechanisms in helping poor countries cope with climate change were discussed at recent climate talks in Poland. A growing number of business leaders see climate risk insurance as a tool to help people adapt to some of the unavoidable weather-related risks that accompany climate change.
(Dec 8, 2008)
Texas Insurance Claims Drop (9:37am) (KRBC - KTAB TV Abilene)
Texans are filing fewer complaints against insurance companies for the fifth consecutive year. The number of complaints dropped from nearly $21,700 in 2007 to $20,375 in 2008. That's the lowest number since 1998.
(Dec 8, 2008)
Meadowbrook Insurance Group Names Netschke Corporate Counsel (Insurance Journal)
Southfield, Mich.-based Meadowbrook Insurance Group, Inc., a leading specialty risk management insurance company, recently announced that Kristen Netschke has joined the company's Southfield, ...
(Dec 8, 2008)
UK'S FRIENDS PROVIDENT ACQUIRES 30 PCT STAKE IN AMLIFE INSURANCE (Bernama via Yahoo! Malaysia News)
KUALA LUMPUR, Dec 9 (Bernama) -- Friends Provident plc, a UK-listed life and pensions company has completed the acquisition of a 30 percent stake, for RM170 million, in AmLife Insurance Bhd, which is the specialist life insurance operation of the AmBank Group.
(Dec 9, 2008)
Flood Insurance Can be a Wise Investment (Kansas City InfoZine)
After the September flooding, many homeowners and businesses learned too late that their insurance did not cover flood damages.
(Dec 9, 2008)
Eighteen-Wheelers And A Health Insurance Crunch (NPR)
In Flora, Ill., Huck's convenient store is where lives intersect. Sandy Higgs works the counter there, and she also has a job maintaining big rigs to make ends meet. Neither she nor one of the company's truckers get health insurance from the job — and each faces a looming crisis.
(Dec 9, 2008)
Malaysia's insurance business poised to improve? (People's Daily)
Malaysia's insurance sector is expected to have a better prospect despite the weak global economy, targeting at a growth of 8 percent to 9 percent next year. The premium income of the Malaysian insurance industry has been growing these years, reaching 27.1 billion ringgit (7.5 billion U.S. dollars in 2007 from 22.0 billion ringgit (6.1 billion U.S. dollars) in 2004. In 2007, the premium income ...
(Dec 9, 2008)
IRDA mulls vernacular insurance products (The Hindu)
MUMBAI: The Insurance Regulatory and Development Authority (IRDA) on Tuesday said it is mulling developing insurance products in vernaculars. “It is a suggestion.
(Dec 9, 2008)
Tackling health insurance costs (Bradenton Herald)
In the past eight years, health insurance premiums have doubled, rising 3.7 times faster than wages, and increasing co-pays and deductibles threaten access to care for many Americans.
(Dec 9, 2008)
Meat processors should review insurance terms, says law firm (Food Production Daily)
Richard Matthews told FoodProductionDaily.com that meat product manufacturers should confer with brokers and specialist lawyers about their insurance premiums to look at ways that they can be compensated for being caught up in future blanket recalls related to contaminants in products.
(Dec 9, 2008)
AIG Names Eastwood to Replace Kelley as CEO at Lexington Insurance (Insurance Journal)
American International Group (AIG) has named Peter Eastwood as president and chief executive officer of leading surplus lines insurer Lexington Insurance Co., a unit of AIG Commercial Insurance. ...
(Dec 9, 2008)
Florida Insurance Office Earns Accreditation Renewal (Insurance Journal)
The Florida Office of Insurance Regulation has been recognized at the National Association of Insurance Commissioners (NAIC) Winter National Meeting for renewal of its Financial Regulation ...
(Dec 9, 2008)
Southern Mutual Insurance Company Upgrades to Insuresoft’s Diamond v5.0 Policy Processing System (Centre Daily Times)
Insuresoft, a leading provider of insurance software for the property and casualty insurance industry, announced today that Southern Mutual Insurance Company (SMIC) has successfully installed Insuresoft’s next generation policy processing system, Diamond v5.0. Additionally SMIC has deployed several of Insuresoft’s value added products including Diamond Publisher for print fulfillment and the ...
(Dec 9, 2008)
American Reserve Life buys Albanian insurance firm (AP via Yahoo! News)
American Reserve Life Insurance Company has agreed to buy 61 percent of Albania's state-owned insurance company Insig for euro25 million ($32 million), the country's Finance Ministry said in a statement Tuesday.
(Dec 9, 2008)
Employer-based health insurance plans no longer work (Los Angeles Times)
It seems clear that change is coming to the U.S. healthcare system. President-elect Barack Obama wants it. Congress wants it. Even the insurance industry says the time is ripe to do things differently.
(Dec 10, 2008)
Allianz Keeps German Life-Insurance Guarantee Unchanged in 2009 (Bloomberg)
Dec. 10 (Bloomberg) -- Allianz SE plans to maintain the guaranteed payout to policyholders at its German life-insurance unit at 4.5 percent next year as the company reduced risks related to falling stock markets “at the right time.”
(Dec 10, 2008)
State reports spike in health insurance needs (Boston Globe)
The state health care ombudsman says there has been a spike in calls this month from Vermonters who can't afford their health insurance.
(Dec 10, 2008)
Egg fined over card insurance sales (Channel 4)
Online bank Egg has been fined £721,000 for "serious failings" in sales of payment protection insurance (PPI) to its credit card customers. The Financial Services Authority (FSA) said it found failings in around 40 per cent of telephone sales to Egg customers between January 2005 and last December.
(Dec 10, 2008)
Encompass Insurance Stops Writing North Carolina Home Insurance (Insurance Journal)
An insurance company linked to Allstate says it won't write new homeowner and dwelling fire policies in North Carolina over concerns about a state-sanctioned program for coastal ...
(Dec 10, 2008)
Egg fined over insurance sales (BBC News)
Credit card provider Egg could face a compensation bill of millions after being fined for loan insurance mis-selling.
(Dec 10, 2008)
Meat processors should review insurance terms, says law firm (Food Production Daily)
Richard Matthews told FoodProductionDaily.com that meat product manufacturers should confer with brokers and specialist lawyers about their insurance premiums to look at ways that they can be compensated for being caught up in future blanket recalls related to contaminants in products.
(Dec 10, 2008)
Death rates in hospital highest for infants, and children without insurance (EurekAlert!)
( University of Michigan Health System ) The vast majority of children who die while hospitalized are newborns, according to a new nationwide study. Additionally, death rates are higher for hospitalized children without insurance compared to those with insurance, the University of Michigan researchers found.
(Dec 10, 2008)
Health insurance council soon: Irda chief (Business Standard India)
Insurance Regulatory Development Authority (Irda) is in talks with the government and other stakeholders to set up a self regulatory organisation for health insurance companies, said Irda Chairman J Hari Narayan.
(Dec 10, 2008)
Most Voters Say Leave My Health Insurance Alone (Rasmussen Reports via Yahoo! News)
Health care reform is near the top of the list for incoming President Barack Obama and congressional Democrats, but a majority of U.S. voters (58%) oppose any kind of government-controlled health plan if it means they have to change their own insurance coverage.
(Dec 10, 2008)
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