Insurance News 02/2009 (Page 6)
RSA Insurance Fiscal-year Net Profit Declines 7% (Fox News)
RSA Insurance Fiscal-year Net Profit Declines 7%
(Feb 26, 2009)
RBS Takes U.K. Insurance, Splits Assets After Losses (Update3) (Bloomberg)
Feb. 26 (Bloomberg) -- Royal Bank of Scotland Group Plc will put 325 billion pounds ($462 billion) of assets into a government insurance program and dispose of 20 percent of its remaining holdings after posting the biggest loss in U.K. history.
(Feb 26, 2009)
QBE Insurance Group Full-Year Net Falls 3.5% (Update1) (Bloomberg)
Feb. 26 (Bloomberg) -- QBE Insurance Group Ltd. , Australia’s biggest property and casualty insurer, said full- year net income fell 3.5 percent.
(Feb 26, 2009)
RSA Insurance to Cut 1,200 British Jobs by Mid-2010 (Update1) (Bloomberg)
Feb. 26 (Bloomberg) -- RSA Insurance Group Plc , the U.K.’s second-largest non-life insurer, plan to cut 1,200 jobs from its British workforce by the middle of next year.
(Feb 26, 2009)
RSA Insurance to Cut 1,200 British Jobs by Mid-2010 (Update3) (Bloomberg)
Feb. 26 (Bloomberg) -- RSA Insurance Group Plc , the U.K.’s second-largest non-life insurer, plans to cut 1,200 jobs from its British workforce by the middle of next year.
(Feb 26, 2009)
European stocks higher on banks insurance scheme (AP via Yahoo! News)
European markets rose Thursday as investors welcomed a British program to allow struggling banks to access government insurance against future losses on toxic assets.
(Feb 26, 2009)
Small firms drop insurance as costs rise (Chicago Tribune)
President Barack Obama pushing for health-care reform in Congress As the recession deepens, small businesses and those buying insurance on their own are struggling to maintain coverage amid double-digit rate increases. David Borris, owner of Hel's Kitchen Catering in Northbrook, has seen the cost of his company's health insurance premiums double to $457 a month per employee since 2002. ...
(Feb 26, 2009)
State insurance fraud unit wins law credential (Orlando Sentinel)
The state Division of Insurance Fraud won full accreditation from the Commission for Florida Law Enforcement Accreditation Wednesday.
(Feb 26, 2009)
RBS Takes U.K. Insurance, Splits Assets After Losses (Update6) (Bloomberg)
Feb. 26 (Bloomberg) -- Royal Bank of Scotland Group Plc will put 325 billion pounds ($462 billion) of investments into a state insurance program and shift toxic assets to a new unit after posting the biggest loss in British history.
(Feb 26, 2009)
London Markets: Lloyds stumbles in weaker London after insurance deal delay (Market Watch)
London shares fell on Friday, the last trading session of February, with banks retreating after Lloyds Banking Group failed to clinch an asset insurance deal with the U.K. government.
(Feb 27, 2009)
Lloyds Falls After Failing to Announce Asset Insurance Deal (Bloomberg)
Feb. 27 (Bloomberg) -- Lloyds Banking Group Plc , the U.K. bank that took over HBOS Plc last month, fell as much as 13 percent after saying it hasn’t reached agreement on a government asset insurance program.
(Feb 27, 2009)
First Niagara Bank recognized for shared deposit insurance (The Buffalo News)
First Niagara Financial Group has been named as one of the nation's 20 largest providers of a special deposit service that allows member banks to offer up to $50 million in federal deposit insurance coverage.
(Feb 27, 2009)
U.S. January Private Mortgage Insurance Defaults Rose (Table) (Bloomberg)
Feb. 27 (Bloomberg) -- Private mortgage insurance defaults increased last month, according to the Mortgage Insurance Companies of America’s monthly report.
(Feb 27, 2009)
Lloyds Falls on Failure to Announce Asset Insurance (Update1) (Bloomberg)
Feb. 27 (Bloomberg) -- Lloyds Banking Group Plc , the biggest U.K. bank by customers, fell as much as 25 percent after saying it hadn’t reached agreement on a government asset insurance program and reporting a record loss at its HBOS unit.
(Feb 27, 2009)
Okla. Dems say GOP protecting insurance companies (AP via Yahoo! Finance)
Oklahoma Senate Democrats are charging that Republicans are taking the side of insurance companies over the needs of their constituents.
(Feb 27, 2009)
Oklahoma Democrats say Republicans protecting insurance companies at constituents' expense (Canadian Business)
Oklahoma Senate Democrats are charging that Republicans are taking the side of insurance companies over the needs of their
(Feb 27, 2009)
FDIC Ups Bank Fees To Boost Insurance Fund (CBS News)
Federal regulators are raising the fees paid by U.S. banks and thrifts, and levying an emergency premium to rebuild a deposit insurance fund depleted by a cascade of bank failures.
(Feb 27, 2009)
Texans lose millions in insurance scheme (UPI)
SAN ANTONIO, Feb. 27 (UPI) -- A Houston company lured hundreds of older Texas into investing about $30 million in a fraudulent life insurance scheme, state officials say.
(Feb 27, 2009)
Invensure Insurance Brokers Adds Three to Staff (Insurance Journal)
Invensure Insurance Brokers of Irvine, Calif., has added Trent T. Julian, David M. Peters and David R. Bloodgood to its professional staff. Julian joins as vice president of its Dealer ...
(Feb 27, 2009)
U.S. bank insurance agency forced to charge higher fees (International Herald Tribune)
With a dramatic decline in its insurance fund, the Federal Deposit Insurance Corporation board is set to vote to impose an increase in insurance fees collected from U.S. banks.
(Feb 27, 2009)
Information on Understanding Insurance Options (New York Times)
UNDERSTANDING INSURANCE OPTIONS.
(Feb 28, 2009)
A tough task: Legislators seek to fix Florida's property insurance problems during session (Sun-Sentinel)
Legislators seek solutions for property owners A group of leading state legislators is considering a dramatic way to try to fix Florida's property insurance market: have the state cover the hurricane portion of virtually all homeowner policies statewide.
(Feb 28, 2009)
Mortgage Insurance: Harder to Get (New York Times)
With losses mounting within the mortgage-insurance industry, some applicants for mortgage insurance are being turned away, while others will have to pay higher premiums.
(Feb 28, 2009)
FDIC increases banks' deposit insurance premiums (The Sacramento Bee)
With banks failing at a rate of nearly two a week since New Year's Day, federal regulators Friday announced a sharp increase in the premiums financial institutions pay into the national deposit insurance fund. The move raises costs for all banks and stands to slightly depress the interest rate customers receive. By law, the Federal Deposit Insurance Corp. must maintain a reserve fund equal ...
(Feb 28, 2009)
Banking: FDIC raising fees to aid insurance fund (Sun-Sentinel)
Facing a cascade of bank failures depleting the deposit insurance fund, federal regulators on Friday raised the fees paid by U.S. financial institutions and levied an emergency premium in a bid to collect $27 billion this year.
(Feb 28, 2009)
FDIC raises bank insurance fees (The Cincinnati Enquirer)
Facing a cascade of bank failures depleting the deposit insurance fund, federal regulators on Friday raised the fees paid by U.S. financial institutions and levied a hefty emergency premium in a move to collect $27 billion this year.
(Feb 28, 2009)
We sympathise with losses, but the fire insurance levy is unfair (The Age)
By the time we get around to having an inquiry into the bushfires the issue of insurance is going to emerge and it has the potential to divide regional communities currently united in the face of tragedy.
(Feb 28, 2009)
Push on for forced fire insurance (The Age)
Home insurance must be mandatory for those building or buying in bushfire-prone areas, the Insurance Council of Australia has demanded, with premiums set to soar in the wake of Victoria's devastating blazes.
(Feb 28, 2009)
House kills children's insurance bill (Billings Gazette)
CHEYENNE - The Wyoming House defeated a bill that would have expanded government-subsidized children's health insurance.
(Feb 28, 2009)
Mortgage Insurance: Harder to Get (New York Times)
With losses mounting within the mortgage-insurance industry, some applicants for mortgage insurance are being turned away, while others will have to pay higher premiums.
(Feb 28, 2009)
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