Insurance News 03/2010 (Page 3)
Time for a national insurance program to cope with natural disasters? (The Christian Science Monitor via Yahoo! News)
Given that so many Americans live in areas that have been prone to natural disasters – hurricanes, earthquakes, tornados – is it time for the federal government to intercede to help states and property owners obtain more reasonable castastrophic insurance?
(Mar 11, 2010)
Time for a national insurance program to cope with natural disasters? (The Christian Science Monitor)
Advocates of legislation to create a national insurance program say it's better to plan ahead than do a bailout after a natural disaster. Critics say it would amount to a subsidy for owners of coastal mansions and encourage people to live in places they shouldn't.
(Mar 11, 2010)
Va. assembly approves bill to bar health-insurance mandate (Washington Post)
RICHMOND -- The Virginia General Assembly has given final approval to a bill that would make it illegal for the government to require individuals to purchase health insurance, a measure intended to conflict with Democratic efforts to reform health care in Washington.
(Mar 11, 2010)
Insurance Mandate May Need Strict Penalties (NPR)
The health care plans before Congress require individuals to purchase insurance. But the penalty for violating the individual mandate may be so low that healthy people might be tempted to pay it instead of buying insurance. That would leave insurers with less healthy customers, prompting companies to raise their rates, prompting more people to drop out, and so forth.
(Mar 11, 2010)
Why Not Universal Car Insurance? (Ludwig von Mises Institute)
With universal mandates, insurance companies no longer compete for multiple clients, but for just one — this is called a monopsony. The amount of eligible insurance companies quickly dwindles.
(Mar 11, 2010)
Unemployment insurance continuing claims spike (CNNMoney.com via Yahoo! Finance)
The number of Americans filing continuing claims for unemployment insurance spiked last week, the Labor Department said Thursday, as sluggish hiring continues to drag on the labor market's recovery.
(Mar 11, 2010)
Federal legislation to lower property insurance costs debated (Sun-Sentinel)
Legislation that could give South Florida homeowners a break from soaring property insurance premiums received a mixed reception by federal lawmakers Wednesday.
(Mar 11, 2010)
Insurance agents make donation to MS (Reno Gazette-Journal)
The Independent Insurance Agents of Northern Nevada donated $10,000 to the National Multiple Sclerosis Society's Nevada office to help with services to local people.
(Mar 11, 2010)
Fitch Holds Conference on China's Life, Non-Life Insurance Sectors (Insurance Journal)
Fitch Ratings hosted a teleconference today, March 11 on the performance of China's life and non-life insurance sectors. A replay of the conference is expected to be posted soon on the rating ...
(Mar 11, 2010)
As costs soar, Mass. foresees change in health insurance rules (Boston Globe)
State regulators said yesterday that they will probably change the complex formula they use to determine how many Massachusetts residents face a tax penalty for not having health insurance, because spiraling costs are making coverage unaffordable for too many people.
(Mar 12, 2010)
Trade associations accused of health insurance fraud (The Record and Herald News)
A Tennessee-based trade association that's promising affordable health insurance to New Jersey residents is under scrutiny for failing to provide benefits to members in other states across the nation.
(Mar 12, 2010)
Linkin Park sue over blocked insurance payout (world entertainment news via Yahoo! UK & Ireland News)
Linkin Park are suing an insurance company after its officers refused to compensate the rockers for a string of gigs cancelled because of frontman Chester Bennington's back injury.
(Mar 12, 2010)
Bill On Insurance For Oral Chemo Passes Legislative Committee (Hartford Courant)
A proposal to require health insurance plans to cover oral chemotherapy the same way they cover intravenous chemotherapy made it through the legislature's insurance and real estate committee Thursday.
(Mar 12, 2010)
Kilpatrick Stockton Adds Leading Policyholder Insurance Coverage Partner (dBusinessNews.com)
NEW YORK -- Kilpatrick Stockton LLP announced today the addition of partner Carl Salisbury to its growing and nationally-recognized Insurance Recovery Team. Mr. Salisbury joins Kilpatrick Stockton’s expanding New York office from Killian & Salisbury, P.C. The burgeoning New York office also recently added three new associates.
(Mar 12, 2010)
Woman sues after insurance company denies claim (KATU Portland)
Michele Vinson was stunned when the insurance company denied her claim to $386,000 from her husband's life insurance policy and a related benefit to cover school expenses for their 19-year-old daughter, Danielle, who is in college.
(Mar 12, 2010)
Oregon woman sues life insurance company over claim (Seattle Times)
The wife of a Eugene man who died in a kitchen accident is suing his life insurance company. Michele Vinson says the company is ...
(Mar 12, 2010)
Mobile Phones Bring Insurance to Kenyan Farmers (Insurance and Technology)
Kenyan farmers can now insure some of the costs of growing crops against bad weather by using mobile phone technology that links solar-powered weather stations to an insurance company.
(Mar 12, 2010)
Best Affirms American Modern Insurance Group Ratings (Insurance Journal)
A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of American Modern Insurance Group of Amelia, Ohio and its ...
(Mar 12, 2010)
Widow sues over unpaid life insurance (KGW NewsChannel 8 Portland)
EUGENE, Ore. (AP) -- The wife of a Eugene man who died in a kitchen accident is suing his life insurance company. Michele Vinson says the company is refusing to pay because David Vinson had been drinking that day. She is seeking $1.3 million from Hartford Life and Accident Insurance Co. Her husband was home alone last April 12 when he apparently dropped a domed glass cake cover. It shattered, a ...
(Mar 12, 2010)
California judge rules on auto insurance language in voters pamphlet (The Sacramento Bee)
A three-way fight over the language in a June ballot initiative on auto insurance ended in a draw Friday.
(Mar 13, 2010)
Insurance company aims to discourage class actions (The Lafayette Daily Advertiser)
BATON ROUGE — Louisiana Citizens Property Insurance Corp. will push for a new law protecting it from being penalized for paying claims too slowly.
(Mar 13, 2010)
Conduct a self-audit to save on insurance (St. Louis Post-Dispatch)
A lot of changes can happen throughout the year that can greatly affect your insurance coverage. So take some time once a year to re-evaluate your coverage. Here are some tips from the Hartford Financial Services Group.
(Mar 13, 2010)
Peter Boutell, Lending a Hand, March 13, 2010: Mortgage insurance, the necessary evil, is not forever (Santa Cruz Sentinel)
No one wants to pay for mortgage insurance, but what most homebuyers do not realize is that no lender will loan more than 80 percent of the value of a property without mortgage insurance protection.
(Mar 13, 2010)
Video: Obama talks heath insurance reform (The Phoenix)
GLENSIDE — President Barack Obama took on the insurance companies Monday morning as he began his tour to promote health insurance reform.
(Mar 13, 2010)
Md. House votes to limit insurance premium hikes (WTOP Radio Washington, DC)
Maryland's House of Delegates has endorsed limiting insurance carriers from raising premiums on individual health plans more than once a year in most cases.
(Mar 13, 2010)
Bradley Byrne, candidate for governor, pushes coastal insurance plan for Alabama (Mobile Press-Register)
Republican gubernatorial candidate Bradley Byrne introduced a plan Friday to address Alabama's coastal insurance crisis, saying the issue threatens one of the state's most powerful economic engines.
(Mar 13, 2010)
BAR WANTS BANK NEGARA'S TRANSPARENCY ON PROPOSED INSURANCE SCHEME (Bernama via Yahoo! Malaysia News)
KUALA LUMPUR, March 13 (Bernama) -- The Bar Council wants Bank Negara and the government to be more transparent in the proposed scheme on basic motor insurance coverage for third party bodily injury and death.
(Mar 13, 2010)
In Telluride, a struggle between providers and insurance companies (Telluride Daily Planet)
As the Senate passed a landmark health care bill in Washington that extends coverage to millions, the Telluride Medical Center wages its own battles, hoping to wring better deals from insurance companies.
(Mar 13, 2010)
State Farm Insurance Gives $2,500 To County for Safe Driving Signs (Ashley County Ledger)
Crossett State Farm Insurance representative Mary Reed, shown left, presents a $2,500 grant to Darlene Maxwell Thursday afternoon, March 4. The grant is sponsored by State Farm Insurance to increase road safety.
(Mar 13, 2010)
Pa. insurance chief is shaping Obama's message (The Philadelphia Inquirer)
Just because Pennsylvania Insurance Commissioner Joel Ario went to a Christmas party at President Obama's house in Washington . . .
(Mar 14, 2010)
Call for transparency in proposed insurance scheme (Malaysian Mirror)
KUALA LUMPUR - The Bar Council wants Bank Negara and the government to be more transparent in the proposed scheme on basic motor insurance coverage for third party bodily injury and death.
(Mar 14, 2010)
Fewer hospital patients have private insurance (Dayton Daily News)
Hospital officials don’t expect a quick rebound after years of decline in the percentage of their most profitable patients — those covered by private insurance.Commercial insurance is key to a hospital’s “payer mix,” offsetting losses incurred on patients in other categories such as Medicare, Medicaid and “self-pay.”
(Mar 14, 2010)
Insurance rate hikes in N.H. are questioned (Portsmouth Herald)
This is the second of a two-part report that looks at increases in health insurance policies offered by Anthem Blue Cross Blue Shield in Maine and New Hampshire. Last Sunday, we looked at Maine. This week we examine New Hampshire.
(Mar 14, 2010)
Recession fuels boom in insurance fraud (Denver Post)
The sour economy is producing a bumper crop of cash-strapped consumers, business owners and shady agents who are fueling a wave of insurance fraud that is keeping regulators and law enforcement officials busy from coast to coast.
(Mar 14, 2010)
Crop insurance agents might face pay cuts (The Des Moines Register)
Washington, D.C. - Farmers are accustomed to being targeted for their federal subsidies. Now, their insurance agents are taking their turn in the bull’s-eye.
(Mar 14, 2010)
The insurance doctor: Colo. pregnancy bill defies concept of insurance, will increase premiums for every individual (The Fort Collins Coloradoan)
Recently, I had lunch with John, a fellow insurance agent. "You won't believe how goofy some people are when it comes to insurance," he said.
(Mar 14, 2010)
Maine bill nixes health insurance caps (Boston Globe)
Further Maine House and Senate votes are expected this week on a bill to bar annual and lifetime caps on health insurance payments.
(Mar 14, 2010)
In Telluride, a struggle between providers and insurance companies (Telluride Daily Planet)
As the Senate passed a landmark health care bill in Washington that extends coverage to millions, the Telluride Medical Center wages its own battles, hoping to wring better deals from insurance companies.
(Mar 14, 2010)
Votes expected on bill barring insurance payment caps (Bangor Daily News)
AUGUSTA, Maine -- Further Maine House and Senate votes are expected this week on a bill to bar annual and lifetime caps on health insurance payments. The bill is intended to protect health care …
(Mar 14, 2010)
Ayudhya Insurance expands through acquisition (The Nation - Thailand's English news)
Ayudhya Insurance (AYUD) has reached an agreement to acquire a 99.99 per cent stake in BT Insurance (BTI) from CIMB Thai Bank, for the approximate value of Bt392 million.
(Mar 15, 2010)
Zurich Insurance plc eyes revenues of €1 bn (RTÉ News)
Zurich Insurance plc has announced a solid operating performance for 2009. Zurich Insurance plc (ZIP) is the insurance giant's Dublin-based general insurance risk carrier for its European business.
(Mar 15, 2010)
The Ayudhya Insurance to Acquire BT Insurance from CIMB Thai (Thaipr.net)
The Ayudhya Insurance PCL (AYUD) and CIMB Thai Bank PCL announced today that they have entered into an agreement for AYUD to acquire a 99.99% stake in BT Insurance Co Ltd (BTI) from CIMB Thai at an in
(Mar 15, 2010)
Insurance Fraud Booms During Recession (Medical News Today)
"The sour economy is producing a bumper crop of cash-strapped consumers, business owners and shady agents who're fueling a wave of insurance fraud that's keeping regulators and law enforcement officials busy from coast to coast," McClatchy reports. "Whether it's worthless health plans peddled by fax, staged auto accidents, arson or slip-and-fall accidents at the local mall, insurance fraud of ...
(Mar 15, 2010)
A question of money: Laptop insurance redress (Belfast Telegraph)
Question: I bought a laptop, which included a warranty — underwritten by an insurance company — that promised me a replacement after three years. Related Stories Consumer complaints rising but are we being listened to? A question of money: How to get the right mortgage provider for you? A question of money: How do I best protect my savings when banking? Dire interest rates see fewer saving and ...
(Mar 15, 2010)
A question of money: Laptop insurance redress (Belfast Telegraph)
Question: I bought a laptop, which included a warranty — underwritten by an insurance company — that promised me a replacement after three years. Related Stories Protect yourself from ever increasing online bank fraud
(Mar 15, 2010)
Massachusetts Warns Car Dealers over Insurance Advice (Insurance Journal)
Auto dealers in the Bay State must be careful of what they tell car-buyers about purchasing insurance, the Massachusetts Division of Insurance warns dealers in a newly issued bulletin. State law ...
(Mar 15, 2010)
West Virginia to Create Electronic Auto Insurance Verification System (Insurance Journal)
West Virginia lawmakers want to give police and the courts an easy way to verify whether a driver has required liability insurance. The House has approved a measure previously backed by the Senate ...
(Mar 15, 2010)
West Virginia Lawmakers Approve Insurance Liens for Cities (Insurance Journal)
Lawmakers have signed off on allowing West Virginia's cities and towns to tap insurance proceeds when clearing away buildings destroyed by fire. The Senate has sent Gov. Joe Manchin his proposal ...
(Mar 15, 2010)
Daily Q&A: What impact do recalls have on automobile insurance? (St. Petersburg Times)
What is the impact of automobile recalls on my insurance coverage?
(Mar 15, 2010)
Farmers Insurance to sponsor Torrey Pines (AP via Yahoo! Sports)
Farmers Insurance must have liked what it saw at Torrey Pines in its 10 days as a title sponsor. It decided Monday to sign up for the next four years, filling an important hole of title sponsorship in the PGA Tour schedule. PGA Tour commissioner Tim Finchem did not disclose financial terms, saying only that the purse next year would be $5.8 million, an increase of $500,000 from this year.
(Mar 15, 2010)
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