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Insurance News 05/2010



Flood insurance tips
Even if your lot touches a high-risk area, your actual living space may not require flood insurance, said Allstate agent Keith Dorband of Dorband Insurance and Financial Services Inc. in Norfolk.

Map updates force homeowners to buy flood insurance
Tang Torn-Kath owns a raised two-story duplex in Norfolk that she rents to tenants. Twice during the decade that she has owned the building, the street flooded, but no water reached the house. But last fall she got a surprise call from her bank saying that she had to have a flood insurance policy, which costs $699 annually, starting this month.

Will most buy insurance?
Starting in 2014, Americans will be required to have health insurance. But some young adults who are stretching financially to get by say they might take their chances and hope they don't become seriously sick or injured. They will pay the penalty rather than pay for insurance.

The Iceland volcano boosts awareness of travel insurance
If and when you need it Visions of the Iceland volcano spewing ash into the air and weary, grounded travelers waiting it out at airports are causing more people to consider travel insurance.

Beware: Ohio bars this life insurance
People generally buy life insurance so their spouses or children can be taken care of when they die.

Is it practical to buy life insurance or any pre-need policies at this time? Why?
Another question asked of me in a recent interview. Technically speaking, insurance is protection Related posts: Combined Mutual Fund and Insurance Some asked me about a kind of insurance policy, which... Wake Up Call! Emergency is a Fact of Life The floods of Typhoon ONDOY were extremely devastating. This time,... A Success Story By Francisco J. Colayco Glen is 42 years old, with...

Max Bupa Health Insurance to infuse Rs 550 cr in five yrs
Max Bupa Health Insurance, a new entrant in health insurance sector in the country, plans to infuse around Rs 550 crore in the next five years, a top company official said.

Sunflower industry happy with crop insurance rule
Federal Risk Management Agency officials have been working since 2006 on what is commonly known as the ``Combo'' insurance plan, which combines and simplifies five types of insurance available to farmers.

Bill expands flood insurance
What came first, wind or water? Many homeowners faced this problem and were forced to prove the sequence of events after Hurricane Katrina in order to receive insurance payments that would allow them to rebuild.

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.

AAA Insurance NHRA Midwest Nationals
Final eliminations Sunday from the AAA Insurance NHRA Midwest Nationals for the NHRA Full Throttle Drag Racing Series at Gateway International Raceway:

Iowa will use feds money for insurance pool
Iowa will use $35 million from the federal government to set up a temporary health-insurance pool for people denied private coverage because of pre-existing health problems.

Iowa to set up insurance pool
DES MOINES, Iowa (AP) - Iowa is tapping into $35 million in federal funds for a temporary health-insurance pool for people denied private coverage because of pre-existing conditions.

Co-operators General Insurance returns to profit
Co-operators General Insurance Co. reported a return to profit in its first quarter Monday thanks to a mild winter reducing claims.

Mayor Ray Nagin announces property insurance settlement as he leaves office
Ted Jackson / The Times-PicayuneOutgoing New Orleans Mayor Ray NaginLess than six hours before his second term end, Mayor Ray Nagin early Monday announced that his administration has settled a "long-time dispute" with a property insurance company for claims...

Company that made blowout preventer in Gulf oil spill has liability insurance of $500 million
HOUSTON - The manufacturer of a fail-safe device on the oil well that is spewing crude into the Gulf of Mexico has $500 million in liability insurance for legal claims.

Upstate N.Y. Dems Back Former Insurance Superintendent
The Democratic Rural Conference of New York is backing former Insurance Superintendent Eric Dinallo for the party's nomination for attorney general. Dinallo won among a field of five Saturday in ...

Florida Passes Deregulation of Certain Commercial Lines Insurance
Florida lawmakers, who turned aside efforts to deregulate home insurance prices, have passed legislation aimed at deregulating commercial property/casualty insurance rates. They also made chanegs ...

Nigeria : Oil, Gas Insurance Requires Conventional Treaty, Training Lasaco ED
Nigerian insurance industry could enhance its capacity and confidence in the oil and gas insurance business if insurance companies can do more of conventional reinsurance treaty and expose their staff to more training.

Insurance Status Influences Hospital Transfer in Patients with Mild Head Injury
EMTALA was enacted in 1986 to provide access to emergency medical care and transfer for all patients, regardless of immigration status or ability to pay. Research analyzes insurance status on head injury patient transfer and the specifics involved in this practice.

Cuba visitors must have travel health insurance
Cuba has quietly begun requiring foreign tourists and Cubans who live overseas to hold travel insurance approved by island authorities, while making those who don't have coverage buy a local policy that can cost over $3 a day.

Aurora Probed for Insurance Non-Payment, Business Report Says
May 4 (Bloomberg) -- South African Labor Minister Membathisi Mdladlana started investigating Aurora Empowerment Systems Ltd. for not paying contributions to the Unemployment Insurance Fund, Business Report said, citing Mdladlana.

BNM seeks feedback on motor insurance
Bank Negara Malaysia is seeking public feedback on the new basic motor insurance coverage for third-party bodily injury and death. The central bank placed advertisements in several newspapers yesterday, urging readers to download a copy of the consultation paper on the proposed policy at its website at www.bnm.gov.my The central bank is working with relevant ...

Basic motor insurance: Your feedback sought
KUALA LUMPUR Bank Negara Malaysia is seeking public feedback on the new basic motor insurance coverage for third-party bodily injury and death.

Basic motor insurance: Your feedback sought
KUALA LUMPUR Bank Negara Malaysia is seeking public feedback on the new basic motor insurance coverage for third-party bodily injury and death. The central bank placed advertisements in several newspapers Monday, urging readers to download a copy of the consultation paper on the proposed policy at its website Read more...

Insurance agent convicted on fraud charges
A south Texas insurance agent has been convicted of mail fraud for his role in stealing more than $3.8 million from a hospital

San Diego Film Streamlines Film Industry Insurance
Streamlining the insurance buying and risk management process can be an attractive offer to entertainment businesses. This is especially true in a locale like San Diego, which has served as the ...

Spanish, Portuguese Default Insurance Costs Jump
Spanish, Portuguese Default Insurance Costs Jump

Midwest's Sunflower Industry Happy With Crop Insurance Rule
Officials in the sunflower industry who fought for years to gain better crop insurance say final rules for a simplified insurance plan might mark the end of the battle. It should mean better ...

Eastern Insurance selling subsidiary for $33.5M
Eastern Insurance Holdings said today that it has agreed to sell its Eastern Life and Health Insurance subsidiary for $33.5 million.The buyer is Security Life Insurance Co. of America, based in Minnetonka, Minn.Eastern Insurance, with its headquarters on Race Avenue, said the deal is expected to be ...

Anadarko rig insurance coverage about $160M
Anadarko Petroleum Corp. says insurance will cover more than $160 million of costs related to the Gulf of Mexico rig disaster.

18 states refuse to run insurance pools for those with preexisting conditions
Eighteen states have said they will not administer a stopgap program to provide insurance coverage to people whose preexisting conditions have left them uninsured, forcing the federal government to do the work. Insurance - Financial Services - Business - Agents and Marketers - United States

NM insurance superintendent Chavez resigns
New Mexico Insurance Superintendent Morris Chavez announced Tuesday he will step down from his post, but he did not elaborate on why he decided to resign.

Insurance chief: 'Sad' comments led to resignation
New Mexico Insurance Superintendent Morris Chavez announced Tuesday he will resign, saying he and his family have been the targets of "sad and derogatory" online comments in the wake of a contentious health insurance rate case his office recently settled.

$5B in aid to help pay for retiree insurance
Companies will get $5 billion from the U.S. government to help pay for retiree health insurance.

Axas First-Quarter Revenue Probably Rose on Life Insurance
May 5 (Bloomberg) -- Axa SA , Europes second-biggest insurer, may say first-quarter revenue rose on increased demand for life-insurance policies and higher property and casualty premiums.

Hackensack police chief charged with insurance fraud is due in court
The RecordHackensack Police Chief Ken Zisa surrendered to Bergen County authorities last month in Paramus to face an insurance fraud charge.HACKENSACK The Hackensack police chief and his former girlfriend are expected to make their first court appearance on charges...

Insurance company holds job fair in Davie
American Income Life Insurance Co. is holding a job fair in Davie to take applications for 125 sales jobs.

Wyoming gov says federal insurance money lacking
Wyoming has decided against operating a federal insurance pool for uninsurable state residents -- an option presented by the federal health care overhaul law, Gov. Dave Freudenthal said Tuesday.

Security Planning & Insurance Launches Charter School Insurance Professionals
Salt Lake City-based Security Planning & Insurance Corp., an insurance carrier in the childcare industry, has launched Charter School Insurance Professionals (CSIPros), an insurance company to ...

Strength In Insurance Companies And Printed Circuit Boards
Accident and health insurance shares are up nearly 3%.

Nationwide insurance to hire 1,400
Nationwide Mutual Insurance Co. announced Wednesday it will fill 1,400 job openings, including about 600 in its home state of Ohio.

Nationwide Insurance to Hire 1,400
Nationwide insurance to fill 1,400 jobs, including 600 in home state of Ohio Nationwide Mutual Insurance Company - Financial services - Insurance - United States - Business

Woman awarded $4.8 million in title-insurance defect.
District Judge William Hood awarded $4.8 million to an Arapahoe County woman in a case involving breach of a title insurance contract.

Singapore's life insurance industry sees 43% jump in sales in Q1
SINGAPORE: Singapore's life insurance industry capped the first quarter on a high note - with a 43 per cent rise in sales compared with the year-ago period.

Allstate hiring 100 agents statewide in push to boost its auto insurance business
Allstate plans to add more than 100 agents in Florida this year, including 34 in the central region, as part of a push to expands its auto insurance presence statewide.

Berkshires Munger Says Insurance Prices May Decline (Update1)
Berkshire Hathaway Inc.s Charles Munger, who has helped Chairman Warren Buffett reduce the firms reliance on insurance sales, said declines in policy prices may continue, even as the economy shows signs of recovery.

Some say property owners should pay for renter's insurance
A recent fire at the Trappers Cove apartment complex, where 81 residents lost many of their belongings, compelled Nancy Mahlow to propose that Lansing rental property owners either demand or pay for renter's insurance for their tenants.

Oops! I didn't mean to buy insurance
When Gary Kawesch books airline tickets through Orbitz, he finds a $24 charge for travel insurance that he never bought. Or thought he never bought. Can he get a refund, or is he stuck with something he never meant to order?

Mount Pleasant lowers residents insurance costs
The Town of Mount Pleasant is currently rated as a Class 7 community and residents therefore receive a 15% reduction in their annual flood insurance premiums.