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Insurance News 04/2010



Texas experience shows pitfalls of small business health insurance pools
Texas experience shows pitfalls of small business health insurance pools

Labor insurance may invest more overseas: BLI
The Bureau of Labor Insurance (BLI) has decided to raise to 45 percent from 35 percent the ceiling ratio of labor insurance fund for foreign investment, so as to enhance the liquidity and overseas investment deployment flexibility of such fund, according to bureau officials.

Coming to terms: 'Float' in the insurance world
Q: What does "float" refer to in the insurance world? A: Warren Buffett explained it in his 1997 letter to Berkshire Hathaway shareholders by writing that float "is money we hold, but don't own.

Local business owners worried about insurance costs under new health care bill
A note to readersBusiness editor Mike Copelands column will return next week. The nearly $1 trillion health care bill may extend insurance to 32 million uninsured Americans but it also is creating a lot of confusion and gnashing of teeth among local business owners.

Local business owners worried about insurance costs under new health care bill
The nearly $1 trillion health care bill may extend insurance to 32 million uninsured Americans -- but it also is creating a lot of confusion and gnashing of teeth among local business owners.

Committee chief says he wants to hear from insurance commissioner about Blue Cross and captive insurance actions of ...
A Delaware group announced the chair of the House Banking and Insurance Committee announced Thursday he wants Delaware Insurance Commissioner Karen Weldin Stewart to publicly answer allegations about the actions of the department.

Saudi Fransi Cooperative Insurance Company (Allianz Saudi Fransi) Announces Rights Issue
Riyadh, Saudi Arabia, 04 April 2010: Shareholders of Saudi Fransi Cooperative Insurance Company (Allianz Saudi Fransi) yesterday approved the issue of 10 million new shares through a rights issue.

Health bill 101: Who gets help with buying insurance?
WASHINGTON Most people will be required to buy health coverage under the health care bill. About 20 million American households will qualify for subsidized insurance, according to the Congressional Budget Office.

Najib Tells Bank Negara To Consult Consumer Groups On Third Party Insurance
PUTRAJAYA, April 4 (Bernama) -- Bank Negara Malaysia must take into consideration the plight of the people when proposing new basic motor insurance coverage for third-party bodily injury and death, just like enacting any other policy.

In Telluride, a struggle between providers and insurance companies
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.

Insurance industry grows 20%
VietNamNet Bridge Viet Nam's insurance industry saw growth of 20 per cent last year, despite tough economic conditions, said a recent report.

Woman dies of cancer after insurance is suspended
TAIPEI, Taiwan -- A woman lived in Keelung died of cancer on Saturday because she could not afford the therapies because her National Health Insurance card was suspended.

Chancellor Alistair Darling attacks Conservatives over National Insurance
Alistair Darling has reacted angrily to the Conservative promise to reverse a rise in National Insurance by claiming the tax increase is an essential part of his wider package for consolidating and building on the economic recovery.

Onondaga County Legislature may OK free health insurance for two water authority directors
Syracuse, NY - For more than four decades, the Onondaga County Water Authority has given its board of directors an increasingly costly perk that OCWA never had permission to give: health insurance.

Irish Re/Insurance Market 'Holding up' Despite Financial Crisis Says DIMA CEO
In a recent interview, Sarah Goddard, the CEO of the Dublin International Insurance Management Association (DIMA), acknowledged that Ireland in general and Dublin in particular are in a deep ...

Nigeria : Insurance Industry Sacrifices Workmen's Compensation to NSITF
Nigerian insurance industry may sacrifice another class of its business to the Nigeria Social Insurance Trust Fund (NSITF) if the Employees Compensation bill presently at the National Assembly is passed into law.

Bearish MACD for HCC Insurance
Bearish MACD for HCC Insurance

Unemployment Insurance Expires for Hundreds in Arkansas
State officials say 26-hundred to 27-hundred Arkansans will lose their unemployment insurance today. Extended unemployment benefits are temporarily expiring for more than 200-thousand Americans because the Senate went on its spring recess without approving a one-month deadline extension.

Bank set to offer car insurance
One of Ireland's largest banks is to start offering car insurance, it has been revealed. Related Stories Cost of gorse fires revealed Lorry loaded with lager stolen Woman, 83, murdered in own home More time for Tia uncle murder quiz Government 'UK's worst': union head

CT Flood Victims Surprised at Lack of Insurance
Connecticuts Insurance Department says it's receiving lots of calls from homeowners who are discovering they arent covered for damage caused by this weeks floods. WNPRs Harriet Jones reports.

Ohio lags in disability insurance hearings
Disabled Ohioans wait nearly 20 months to get a hearing for Social Security Disability Insurance, worse than any other state, according to a national study released today.

Minimum liability insurance bill gains 2nd Senate committee OK
A second Senate committee Monday approved a bill that would raise the minimum amount of liability coverage Maryland vehicle owners must carry on their auto insurance, giving the measure a boost as it heads to a vote on the floor.

Insurance Co. Can't Handle Huge Hurricane: Report
New study: Citizens insurance doesn't have enough cash for 'the big one.'

M&A deals predicted for insurance sector
VietNamNet Bridge After an economic crisis, businesses usually have demand for restructuring their operations. This explains why economists believe that a merger and acquisition (M&A) wave in Vietnam is looming, including in the insurance sector.

Rutgers Prof. Offers Insight Into Insurance Industry
A Rutgers professor who is also an insurance attorney wrote an eye opening book about how insurance companies operate.

Jon Stewart Slams Insurance Companies Sill Looking For Loopholes (VIDEO)
With the Health Care Bill passed, many insurance companies and doctors are still looking for ways to deny coverage. And just like before the bill was passed, Jon Stewart was right there to take them down.

Baldacci to celebrate end of health insurance caps
A woman who was left with $60,000 in medical bills when her husband died two weeks ago will be on hand Tuesday for Gov. John Baldacci's ceremonial signing of a bill banning lifetime insurance caps.

NFIP ceases flood insurance program
The National Flood Insurance Program (NFIP), established for those who suffered losses during the November nor'easter, has ceased issuing new policies, or renewing existing policies that cover flood damage.

Free insurance seminar: News Briefs
FREE INSURANCE SEMINAR The Barrie Latin Community Centre is hosting a free insurance seminar on April 17 at the State Farm office 8056 Yonge St., in Innisfil. Local agent Odette Novielli will lead the seminar and touch on a variety of subjects. The seminar runs from 3 p.m.[...]

Sebelius: High Risk Health Insurance Pools To Begin Soon
News outlets covered the next step in covering hard-to-insure Americans. PBS Newshour: "In one of the first moves the Obama administration has taken under the new health care reform law, Health and Human Services Secretary Kathleen Sebelius on Friday sent a letter to state governors and insurance commissioners intended to gauge interest in a new insurance high-risk pool program. The health care ...

Connecticut Chambers of Commerce Oppose State Health Insurance Mandates
Small and medium-sized businesses will bear the cost and Connecticut's job growth will suffer if the state legislature approves new mandated health insurance coverage, several Chambers of Commerce say.

Tenn. companies deny selling phony insurance
Representative of two Tennessee companies accused by authorities of selling phony medical insurance policies to thousands of people nationwide said Tuesday that they are not to blame for piles of unpaid medical bills.

Brown and Cameron clash over national insurance
Prime minister rejects claim by Tory leader that the planned 1% increase in national insurance will kill the economic recovery David Cameron today taunted Gordon Brown over Labour's claims that business leaders were "deceived" into backing Tory plans to scrap a forthcoming rise in national insurance. In the party leaders' last exchange at prime minister's question time before the general ...

Listen: Rising Medical Costs At Heart Of Insurance Standoff
BOSTON Health insurers and state regulators head to court tomorrow in a showdown over premiums. Six of Massachusetts insurance companies are suing the states insurance commissioner, claiming he acted outside the law in capping increases on premiums for small businesses. The state has now removed those insurers from its health connector Web site, where individuals and [...]

Spore expected to play key role in providing insurance against political risk
SINGAPORE: Singapore is expected to play a key role in providing insurance against political risk for cross border investments in the region.

Retirement: 11 questions on long-term care insurance
Ask someone why he or she bought a long-term-care insurance policy and you will probably hear a story about family. Often a sad or scary story.

Scammers try to sell phony health insurance
Beware of scam artists taking advantage of the new health insurance law to peddle phony policies, President Barack Obama's top health official warned consumers Tuesday.

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Highmark to Open Four Additional Health Insurance Stores in Pennsylvania
PITTSBURGH, April 7 /PRNewswire/ -- Highmark today announced that it will open four additional Highmark Direct retail health insurance stores in Pennsylvania, including three stores in the Pittsburgh area and one store in Harrisburg.

State Regulators Urge FDIC to Extend Deposit Insurance Guarantee
State regulators are urging the Federal Deposit Insurance Corp. to extend its unlimited deposit insurance program for low-interest business accounts. The Transaction Account Guarantee Program was created during the financial crisis as a way to stop a flight of depositors from community banks. The program is set to expire June 30, but the FDICs board is meeting on Tuesday to discuss whether to ...

Massey Opted Against Business-Interruption Insurance (Update2)
April 7 (Bloomberg) -- Massey Energy Co. , owner of the mine in West Virginia where 25 people were killed after an explosion, opted against buying insurance for risks including business interruption, a company filing shows.

Minister apologizes for gaffe on health insurance
Taiwan's health minister has apologized for asking single men and women to pay higher insurance premiums because they are more inclined to have mental or other problems.

Live chat Do you have adequate health insurance?
Health insurance chat with Harsh Roongta

While Federal Flood Insurance Program Expires, Consumers Have An Additional And Viable Option For Flood Coverage
Congress has allowed the National Flood Insurance Program to expire for the second time this year, leaving scores of American homeowners in limbo

Tennessee Association Insurance Agents Deny Wrongdoing
Representative of two Tennessee companies accused by authorities of selling phony medical insurance policies to thousands of people nationwide said Tuesday that they are not to blame for piles of ...

Tower Australia Eyes AIA Insurance
Tower Australia Ltd will be interested in buying the "well-run" Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower's chief ...

Sides in health insurance premium spat head to court Thursday
BOSTON (AP) -- The Patrick administration and the state's leading health insurers are facing off in court over an attempt to cap small business premium growth. Six leading companies sued the Division of Insurance, alleging its decision last week to reject the bulk of premium increases that were to have taken effect April 1 was arbitrary and

Irish insurance troubles nothing new
Counting the cost of the demise of Quinn Insurance.

Ask your flood-related insurance questions now
TheDay.com will host live chats Thursday and Friday about flood related issues. Here's the schedule:Thursday10-11 a.m. - Insurance agent Sue Moyer will answer flood-related insurance

Fla. gov to veto any bill hiking insurance rates
Florida Gov. Charlie Crist reinforced his message Wednesday to lawmakers considering legislation that would allow insurance companies to boost property insurance premiums on home and business owners.