Insurance News May 2010
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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. (Sat, 01 May 2010 21:23:03 -0700)
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. (Sat, 01 May 2010 21:24:27 -0700)
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. (Sun, 02 May 2010 00:01:46 -0700)
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. (Sun, 02 May 2010 01:38:29 -0700)
Beware: Ohio bars this life insurance
People generally buy life insurance so their spouses or children can be taken care of when they die. (Sun, 02 May 2010 03:49:56 -0700)
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... (Sun, 02 May 2010 03:59:08 -0700)
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. (Sun, 02 May 2010 04:23:25 -0700)
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. (Sun, 02 May 2010 05:31:29 -0700)
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. (Sun, 02 May 2010 06:56:45 -0700)
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. (Sun, 02 May 2010 07:04:10 -0700)
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: (Sun, 02 May 2010 20:06:48 -0700)
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. (Mon, 03 May 2010 02:21:10 -0700)
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. (Mon, 03 May 2010 05:33:14 -0700)
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. (Mon, 03 May 2010 05:51:07 -0700)
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... (Mon, 03 May 2010 06:03:54 -0700)
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. (Mon, 03 May 2010 06:33:41 -0700)
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 ... (Mon, 03 May 2010 06:46:20 -0700)
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 ... (Mon, 03 May 2010 07:16:19 -0700)
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. (Mon, 03 May 2010 07:25:37 -0700)
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. (Mon, 03 May 2010 07:48:47 -0700)
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. (Mon, 03 May 2010 14:20:48 -0700)
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. (Tue, 04 May 2010 00:53:40 -0700)
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 ... (Tue, 04 May 2010 04:56:34 -0700)
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. (Tue, 04 May 2010 05:34:47 -0700)
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... (Tue, 04 May 2010 05:39:48 -0700)
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 (Tue, 04 May 2010 06:22:40 -0700)
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 ... (Tue, 04 May 2010 06:46:40 -0700)
Spanish, Portuguese Default Insurance Costs Jump
Spanish, Portuguese Default Insurance Costs Jump (Tue, 04 May 2010 07:31:23 -0700)
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 ... (Tue, 04 May 2010 07:46:20 -0700)
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 ... (Tue, 04 May 2010 07:54:53 -0700)
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. (Tue, 04 May 2010 08:01:21 -0700)
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 (Tue, 04 May 2010 08:42:00 -0700)
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. (Tue, 04 May 2010 11:58:16 -0700)
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. (Tue, 04 May 2010 13:49:57 -0700)
$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. (Tue, 04 May 2010 22:01:57 -0700)
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. (Wed, 05 May 2010 06:21:06 -0700)
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... (Wed, 05 May 2010 06:45:43 -0700)
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. (Wed, 05 May 2010 07:42:54 -0700)
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. (Wed, 05 May 2010 07:44:22 -0700)
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 ... (Wed, 05 May 2010 07:46:17 -0700)
Strength In Insurance Companies And Printed Circuit Boards
Accident and health insurance shares are up nearly 3%. (Wed, 05 May 2010 13:29:39 -0700)
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. (Wed, 05 May 2010 17:08:16 -0700)
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 (Wed, 05 May 2010 21:17:06 -0700)
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. (Thu, 06 May 2010 00:28:35 -0700)
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. (Thu, 06 May 2010 06:08:26 -0700)
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. (Thu, 06 May 2010 06:53:46 -0700)
Berkshires Munger Says Insurance Prices May Decline
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. (Thu, 06 May 2010 07:17:07 -0700)
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. (Thu, 06 May 2010 07:28:30 -0700)
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? (Thu, 06 May 2010 07:40:48 -0700)
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. (Thu, 06 May 2010 07:49:56 -0700)
Senate Votes to Increase Deposit Insurance Premiums for Big Banks
Large banks would be forced to pay higher premiums for federal deposit insurance under an amendment the Senate added Thursday to the financial regulatory overhaul bill. (Thu, 06 May 2010 10:56:17 -0700)
Who would Prop. 17 car insurance initiative benefit?
Backers say letting drivers carry discounts from carrier to carrier would aid most drivers. Foes say the measure would make rates unaffordable for many new drivers. In a Yes on 17 radio promotion, actors portraying a couple pondering their car insurance bills grumble about "the flaw in the law" that would rob them of a discount if they changed insurance providers. (Thu, 06 May 2010 19:14:33 -0700)
Car insurance when someone drives your car
If someone else drives your car and crashes, your liability varies with your car insurance policy. (Fri, 07 May 2010 03:00:00 -0700)
Do homework shopping for home insurance
If there's one financial task I love to put off, it's shopping for insurance. But when my new premium for home insurance came in the mail, I knew it had to be done. I was staring at a 25 percent increase. (Fri, 07 May 2010 05:06:05 -0700)
AIG posts $1.45 billion in net income as struggling insurance business shows improvement
NEW YORK - AIG, the insurance giant bailed out by the federal government, reported net income of $1.45 billion for the first quarter as its struggling insurance business showed signs of improvement. (Fri, 07 May 2010 05:41:10 -0700)
Boat fire not an insurance job: crew member
A fisherman rescued at sea Tuesday after the crab boat he was on caught fire is denying suggestions the Marine Clipper II was destroyed to collect insurance money. (Fri, 07 May 2010 06:28:04 -0700)
BP Spill Biggest Energy Insurance Loss in 20 Years
The sunken Deepwater Horizon oil rig in the Gulf of Mexico will lead to the biggest energy insurance losses in more than 20 years, Catlin Group Ltd. said. (Fri, 07 May 2010 07:17:19 -0700)
BP Spill Biggest Energy Insurance Loss in 20 Years
May 7 (Bloomberg) -- The sunken Deepwater Horizon oil rig in the Gulf of Mexico will lead to the biggest energy insurance losses in more than 20 years, Catlin Group Ltd. (Fri, 07 May 2010 07:44:40 -0700)
RLA Insurance Intermediaries Opens Boston Headquarters
RLA Insurance Intermediaries has opened its corporate headquarters at 50 Federal St. in Boston. The firm provides market intelligence to retail insurance agents and brokers. The company says the ... (Fri, 07 May 2010 07:46:50 -0700)
Hanover Gains as Profit Climbs on Insurance Rates, Investments
May 7 (Bloomberg) -- Hanover Insurance Group Inc . jumped the most in 11 months after quarterly profit rose on investment gains and higher rates for policies sold to individuals. (Fri, 07 May 2010 13:51:06 -0700)
18 States Opt Against Managing New Federal High Risk Insurance Pool
Eighteen states have rejected the federal government's offer to operate or set up a new and temporary high-risk pool providing insurance to individuals with preexisting conditions -- a program that some states say isn't adequately funded by Congress. (Fri, 07 May 2010 16:14:34 -0700)
SoCal man ordered to pay $1.3M in insurance fraud
Los Angeles County prosecutors say a Diamond Bar man has been ordered to repay the state more than $1.3 million as part of his sentence for insurance fraud. Deputy District Attorney Ellen Aragon says a judge ordered 57-year-old Joseph Baiden to pay the... Los Angeles County California - District attorney - United States - Diamond Bar California - Southern California (Fri, 07 May 2010 19:07:12 -0700)
Endorsement: In Democratic primary, Dave Jones for Insurance Commissioner
California's insurance commissioner, an elected post, has direct impact on the lives of consumers, overseeing auto and liability insurance and regulating 1,500 insurance companies and hundreds of thousands of agents and brokers. (Fri, 07 May 2010 19:07:14 -0700)
Spread of insurance to rural areas underscores India's growing prosperity
PALAYAM, INDIA -- It would be sad for farmer S. Debarasu if Big Rose, his prized milking cow, was hit by a car or crushed in a cyclone. But thanks to a $14-a-month insurance policy, it would no longer be a financial disaster. Insurance - India - Financial Services - Business - Business and Economy (Fri, 07 May 2010 21:00:00 -0700)
House aims to extend flood insurance program
Representative Barney Frank introduced legislation on Friday to extend the National Flood Insurance Program through September, which would give Congress more time to fix the troubled program. (Fri, 07 May 2010 21:43:07 -0700)
A cut in crop insurance subsidies?
The insurance industry cries foul. (Fri, 07 May 2010 22:11:28 -0700)
Shopping for home insurance a thankless, but necessary task
If there's one financial task I love to put off, it's shopping for insurance. But when my new premium for home insurance came in ... (Fri, 07 May 2010 22:17:16 -0700)
Insurance ministry members help pay other believers' claims
When Jeff Masters had $30,000 in medical bills after getting bladder cancer, he didn't pay through conventional insurance. Instead, he had thousands of fellow Christians foot the bill. (Sat, 08 May 2010 01:03:49 -0700)
Lack of car insurance might be expensive
CEDAR CITY - Car insurance rates have risen in the last couple years, according to local insurance agents, but the cost of not having insurance may cost you more. (Sat, 08 May 2010 04:09:32 -0700)
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. (Sat, 08 May 2010 07:14:49 -0700)
Life insurance should be tailored to need
Q: Sitting around a campfire on a hunting trip, I posed a question to four of my 50-year-old companions on whole life versus term life. They said to buy term. My question comes after a financial-plan review with a large service-oriented insurance company. (Sat, 08 May 2010 22:09:50 -0700)
USDA proposes cutting billions from crop insurance subsidies as companies profit
MINNEAPOLIS (AP) -- The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas. (Sat, 08 May 2010 23:32:34 -0700)
Wright County Board receives annual insurance update from MCIT
When the Minnesota Counties Insurance Trust was created in 1979, it was an outgrowth of one of the worst economic recessions in the country's history. Prime interest rates were at credit card levels and counties were being crippled financial for spiraling insurance costs. (Sat, 08 May 2010 23:44:44 -0700)
State offers low-cost car insurance
State insurance officials estimate 18 percent of drivers will let their car insurance lapse in this tough economy, but California's Low Cost Automobile Insurance Program could help some motorists stay legal. (Sun, 09 May 2010 01:30:11 -0700)
Collusion over theft not proven, insurance company to pay claim
A claim that a cars owners colluded in its theft and destruction to claim insurance was dismissed for lack of evidence by the Court of Appeal, who ruled that the insurance company had to pay the claim. (Sun, 09 May 2010 01:55:47 -0700)
Brokerage World Solutions formed as global platform for high value insurance solutions
Dubai, May 09, 2010:- Following their successful merger last year, Dubai-based insurance broker Insure Direct and Rotterdam-based marine insurance specialist Independent Risk Solutions BV (IRS) today (May 09) announced the establishment of an expanded group holding company, Brokerage World Solutions (BWS). (Sun, 09 May 2010 04:12:32 -0700)
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. (Sun, 09 May 2010 07:15:43 -0700)
Experts say travel health insurance can be crucial
Plane tickets, check. Passport, check. Medical evacuation insurance? It's probably not something most people think about when packing for a vacation. (Sun, 09 May 2010 10:32:13 -0700)
Wife took insurance on husband
A WOMAN took out a $500,000 life insurance policy on her husband just before trying to hire a hitman to kill him, a court heard yesterday. (Mon, 10 May 2010 06:04:35 -0700)
Insurance answers
As businesses and individuals attempt to figure out what the new federal health care legislation means to them, the Nebraska Department of Insurance provided information to help answer the following questions that The... (Mon, 10 May 2010 06:11:57 -0700)
Limits to be placed on insurance coverage for dependents
Regulations drafted by the Obama administration show that there is a limit to the new requirement that health plans allow families to keep young adults on their policies up to age 26. Insurance - Business - Financial Services - Agents and Marketers - United States (Mon, 10 May 2010 06:12:01 -0700)
Euro-zone Default Insurance Costs Tumble
Euro-zone Default Insurance Costs Tumble (Mon, 10 May 2010 06:16:45 -0700)
Berkshire's Non-Insurance Plays Deliver
Berkshire Hathaway sees a huge surge in quarterly revenue as non-insurance holdings of the Warren Buffett investment firm recovery strongly. (Mon, 10 May 2010 07:08:18 -0700)
Nigerian Insurance Industry Does Below 45 Percent Local Content,Fin Insurance Boss
Mallam Sallau Hamman , Managing Director /Chief Executive Office of Fin Insurance in this interview with Patience Saghana articulates insurance industry's oil and gas business, the constraints and the opportunities.. (Mon, 10 May 2010 07:14:32 -0700)
RBS Said to Plan 2,600 Jobs Cuts in Insurance, Consumer Bank
Royal Bank of Scotland Group Plc, the U.K.s largest government-owned bank, plans to cut 2,600 jobs at its insurance and consumer banking divisions, according to a person with knowledge of the plan. (Mon, 10 May 2010 07:16:57 -0700)
RBS May Cut 2,600 Jobs in Insurance, Consumer Bank
Royal Bank of Scotland Group Plc, Britains biggest government-owned bank, plans to cut 2,600 jobs at its insurance and consumer banking divisions, according to a person with knowledge of the plan. (Mon, 10 May 2010 07:22:30 -0700)
New York Lawmakers Hold Hearing on Coastal Insurance Issues
New York lawmakers hold a hearing today with insurance agents and industry leaders over the difficulties facing the coastal homeowners insurance market. The meeting at the state legislature was ... (Mon, 10 May 2010 07:46:10 -0700)
Experts say travel health insurance can be crucial
Plane tickets, check. Passport, check. Medical evacuation insurance? It's probably not something most people think about when packing for a vacation. (Mon, 10 May 2010 13:57:07 -0700)
Insurance giant creates 230 jobs
Insurance giant RSA creates 230 jobs in Peterborough after doing a deal with a supermarket giant Tesco over pet insurance. (Tue, 11 May 2010 01:03:51 -0700)
Standard Life sells its private medical insurance division
Edinburgh-based finance company Standard Life sells its private medical insurance arm to a South African group. (Tue, 11 May 2010 03:54:03 -0700)
Proposed RM250,000 Insurance Limit On Deposits To Cover 99 Per Cent Of Depositors
KUALA LUMPUR, May 11 (Bernama) -- Malaysia Deposit Insurance Corporation (PIDM) said the proposed RM250,000 deposit insurance limit announced by the government under a new package to enhance financial consumer protection was decided following a survey with member banks. (Tue, 11 May 2010 04:58:30 -0700)
FD insurance limit to be raised to RM250,000
KUALA LUMPUR Prime Minister Najib Abdul Razak announced today increased financial consumer protection whereby deposit insurance limit will be raised to RM250,000 effective 2011 from the current RM60,000. (Tue, 11 May 2010 05:40:14 -0700)
FD insurance limit to be raised to RM250,000
KUALA LUMPUR Prime Minister Najib Abdul Razak announced today increased financial consumer protection whereby deposit insurance limit will be raised to RM250,000 effective 2011 from the current RM60,000. The Finance Ministry, in a statement here today, said the prime minister intended to advance a package of legislative initiatives Read more... (Tue, 11 May 2010 05:42:44 -0700)
Florida No. 1 in auto insurance fraud complaints
Insurance companies reported they suspected fraud in 3,006 automobile insurance claims in Florida from 2007 to 2009 Florida led the nation in the number of complaints about insurance fraud related to staged accidents over the past three years, according to a report released Monday by the National Insurance Crime Bureau. (Tue, 11 May 2010 05:54:07 -0700)
Nexus Insurance Services Offers New York Doctors Access to a Variety of Medical Malpractice Insurance Carriers
Finally, New York doctors have additional choices when it comes to medical malpractice insurance. Nexus Insurance Services has announced that it is able to offer physicians in New York more options when it comes to purchasing malpractice insurance. (Tue, 11 May 2010 07:02:56 -0700)
Thousands of Families to Get Express Applications for Free or Low-Cost Health Insurance
Families throughout New Jersey who have a child with no health insurance should know that help is on the way. It is coming via U.S. mail. (Tue, 11 May 2010 07:21:23 -0700)
A.M. Best Affirms Ratings of Hallmark Insurance Group
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of "a-" of Hallmark Insurance Group (Hallmark Group) of Fort Worth, Texas, and its ... (Tue, 11 May 2010 07:46:30 -0700)
Report: Millions in area at risk of being denied insurance
An estimated 2.6 million people in Virginia, Maryland and the District have diagnosed preexisting medical conditions that could put them at risk of being denied insurance coverage if they try to buy it on their own, according to reports released Wednesday. Insurance - Health insurance - United States - Health - Business (Wed, 12 May 2010 21:00:00 -0700)
O.C. insurance broker gets 10-year sentence for bilking investors
James Halstead persuaded victims, including retirees on fixed incomes, to invest $50 million, promising huge returns. He used the money to buy such things as exotic cars and a Las Vegas home. An Orange County insurance broker was sentenced Wednesday evening to 10 years in federal prison for stealing millions in investor dollars that he spent on exotic cars, expensive jewelry and a Las Vegas house. (Wed, 12 May 2010 22:51:55 -0700)
Summer insurance: what you'll need
For those times when vacation takes a decidedly painful turn, be prepared with the right insurance. (Thu, 13 May 2010 03:00:00 -0700)
How long should term life insurance be?
When deciding the time frame for your term life insurance, you should consider these cost factors. (Thu, 13 May 2010 03:00:00 -0700)
Young men should pay more for car insurance, says industry group
KUALA LUMPUR, May 13 The average male in his 20s accounts for one in four car accident insurance claims in Malaysia and should be charged a higher premium, an industry report released today concluded. Although individuals aged between 21 and 30 years represented only one-fifth of motor insurance holders, their average claims frequency was 47 per ... (Thu, 13 May 2010 03:44:28 -0700)
Quinn insurance 'was too cheap'
The Irish Financial Regulator denies being heavy-handed in his treatment of tycoon Sean Quinn and his insurance company. (Thu, 13 May 2010 05:03:36 -0700)
Universal Insurance Stands Up to Storms
Universal Insurance plays it safe -- and stays profitable in the eye of the storm. (Thu, 13 May 2010 05:08:07 -0700)
Israel's IDB sees interest for Clal Insurance unit
JERUSALEM, May 13 (Reuters) - Israeli holding company IDB Group said on Thursday it had received queries from local and foreign investors about buying all or part of its Clal Insurance unit. (Thu, 13 May 2010 06:05:27 -0700)
New Claims for Unemployment Insurance Inch Down
New claims for unemployment benefits drop slightly for fourth straight week Unemployment benefits - Business - Unemployment - Insurance - Financial Services (Thu, 13 May 2010 06:32:06 -0700)
TPG Said to Raise $1.25 Billion in Ping An Insurance Offering
Newbridge Capital LLC, the Asian unit of TPG Capital, raised HK$9.7 billion ($1.25 billion) selling shares in Ping An Insurance (Group) Co., Chinas second-largest insurer, a person familiar with the matter said. (Thu, 13 May 2010 23:02:19 -0700)
TPG Said to Raise $1.25 Billion in Ping An Insurance Offering
May 14 (Bloomberg) -- Newbridge Capital LLC, the Asian unit of TPG Capital, raised HK$9.7 billion ($1.25 billion) selling shares in Ping An Insurance (Group) Co. (Thu, 13 May 2010 23:06:44 -0700)
U.K. Banks Face Possible Ban on Most Credit Insurance
May 14 (Bloomberg) -- Barclays Plc and other U.K. banks should be banned from selling most types of credit insurance at the same time they sell the underlying financial products, an antitrust regulator said. (Thu, 13 May 2010 23:55:53 -0700)
Insurance sale ban gets go-ahead
Plans to restrict the sale of the controversial payment protection insurance (PPI) are set to go ahead. (Fri, 14 May 2010 00:04:04 -0700)
UK Competition Watchdog Still Seeks Ban On Loan Insurance Sale
UK Competition Watchdog Still Seeks Ban On Loan Insurance Sale (Fri, 14 May 2010 02:01:46 -0700)
Insurance: Watch terms on long-term care
When it comes to marketing, every company tries to differentiate itself from the competition. Insurance products are not exempt from these pressures. So, it is important to understand the meaning of policy terms and policy provisions rather than just assuming that all policies say the same thing. (Fri, 14 May 2010 03:06:31 -0700)
UK agency seeks curbs on credit insurance sales
A British regulator on Friday reaffirmed its intention to ban the sale of credit insurance at the same time that a customer signs up for a loan or a credit card. (Fri, 14 May 2010 03:47:57 -0700)
U.K. Banks Face Possible Ban on Most Credit Insurance
May 14 (Bloomberg) -- U.K. banks including Barclays Plc and Lloyds Banking Group Plc should be banned from selling most types of credit insurance at the same time they sell the underlying financial products, a regulator said. (Fri, 14 May 2010 04:11:00 -0700)
Bar council against proposed motor insurance
PETALING JAYA: The Bar Council is against the Bank Negara Malaysias proposed new basic motor insurance and submitted a memorandum to the central bank Friday. (Fri, 14 May 2010 05:14:02 -0700)
Is your health insurance up to scratch
HEALTH insurance can be a minefield but there are ways to avoid traps and get better value. Just be sure to always read the fine print. (Fri, 14 May 2010 07:00:00 -0700)
Former Spartanburg businessman implicated in insurance fraud
By CRAIG PETERS craig.peters@shj.com A former Spartanburg businessman is named as the "principal character" in a multi-state and international insurance fraud scheme of millions of dollars, according to an emergency cease and desist order filed this week by the S.C. Department of Insurance. (Sat, 15 May 2010 00:24:04 -0700)
Risk-based rating system for motor insurance call
Kuala Lumpur: The country needs a risk-based rating system for motor insurance as it ensures that the premium reflects the risk characteristics of the individual and vehicle that is being insured. (Sat, 15 May 2010 01:11:10 -0700)
Insurance commissioner will exert broad influence
SACRAMENTO Two state lawmakers are the leading candidates for the Democratic nomination for California insurance commissioner, the statewide office responsible for regulating insurers at a time of great change and heightened scrutiny for health care coverage. (Sat, 15 May 2010 01:57:01 -0700)
Want kidnap insurance?
Companies are offering specialised insurance to pay ransoms of up to R50-million. (Sat, 15 May 2010 02:49:10 -0700)
Gold 1000: Crisis Insurance or Bubble?
Rising insurance premiums don't negate the need to insure... (Sat, 15 May 2010 03:03:55 -0700)
Mapes faces trial for arson, insurance fraud
A Dundee woman was recently ordered to stand trial on arson and insurance fraud charges related to the fire that gutted her former residence in Milan last spring. (Sat, 15 May 2010 04:34:16 -0700)
Summer insurance: what you'll need
"I don't think the vast majority gives it a thought," says Bill Wilson, associate vice president for the Independent Insurance Agents & Brokers of America in Alexandria, Va. (Sat, 15 May 2010 04:34:35 -0700)
Insurance offered as boy's family pays R1.3m
International risk management companies are offering specialised insurance to major companies and individuals to pay ransoms of up to R50-million. (Sat, 15 May 2010 05:19:28 -0700)
Van Syckel Insurance of Bound Brook honored
BOUND BROOK Ryan Van Syckel, president of Van Syckel Insurance recently qualified for the Travelers Insurance Leadership Conference. The event recognized top insurance agencies throughout the country. (Sat, 15 May 2010 06:42:54 -0700)
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. (Sat, 15 May 2010 07:04:10 -0700)
Health care overhaul won't stop insurance premium hikes
WASHINGTON Public outrage over double-digit rate hikes for health insurance may have helped push President Barack Obama's health care overhaul across the finish line, but the new law does not give regulators the power to block similar increases in the future. (Sat, 15 May 2010 22:08:30 -0700)
Businessman denies involvement in insurance scheme
By CRAIG PETERS craig.peters@shj.com A former Spartanburg businessman named last week by the S.C. Department of Insurance as the "principal character" in a multi-state and international insurance fraud scheme issued a statement Saturday in which he denied involvement. (Sun, 16 May 2010 00:23:43 -0700)
Bay City schools administrators decision to contribute to health insurance premiums could catch on
A group of Bay City school administrators hopes district employees play follow the leader when it comes to contributing toward health insurance premiums. (Sun, 16 May 2010 02:11:37 -0700)
Bank Negara to wrap up motor insurance talks by July
KOTA BARU: Bank Negara Malaysia is expected to wrap up discussions on the new basic motor insurance coverage for third-party bodily injury and death by July. (Sun, 16 May 2010 02:43:50 -0700)
FACT CHECK: Insurance law does not exempt Muslims
Many Times-Union readers want to know: A forwarded e-mail starts off with "Word of the Day: Dhimmitude, the Muslim system of controlling non-Muslim populations conquered through jihad." The e-mail goes on to say that ObamaCare is the establishment of Dhimmitude in the U.S. and that Muslims are "specifically exempted from the government mandate to buy insurance and from the penalty tax for being ... (Sun, 16 May 2010 03:30:04 -0700)
Shopping for home insurance a complicated but crucial task
You can put off shopping for insurance only so long. But when the new premium for home insurance comes in the mail, it's time. Especially when staring at a 25 percent increase. (Sun, 16 May 2010 04:52:14 -0700)
Himachal starts crop insurance scheme
The Himachal Pradesh government has launched a crop insurance scheme in the state to protect crops from adverse climatic conditions, an official statement said Sunday. (Sun, 16 May 2010 04:55:40 -0700)
A Hot Tub Fire, An Unmarried Couple And An Insurance Puzzle
When a hot tub water heater caught fire and damaged the home they shared, a Coventry couple filed a claim and the insurance company that held the policy on the property paid for the repairs. (Sun, 16 May 2010 05:39:59 -0700)
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. (Sun, 16 May 2010 07:15:30 -0700)
Quinn signs law on health insurance coverage
SPRINGFIELD, Ill. (AP) -- Gov. Pat Quinn has signed legislation designed to extend the length of health insurance coverage for workers laid off from small businesses. The law applies to people who were laid off from firms with 19 or fewer employees. It extends the insurance premium subsidy from 12 to 15 months. The law also extends the eligibility period so that workers who are laid off on or ... (Sun, 16 May 2010 07:53:56 -0700)
Insurance affects ICU survival rate in U.S.: study
Intensive care patients who did not have health insurance were 21 percent more likely to die than insured patients, U.S. researchers reported on Monday. (Mon, 17 May 2010 15:25:42 -0700)
Want to put your adult child on your insurance? Here's how
Even the most adventurous young adults know it's foolhardy to go without health insurance. Now, millions of them won't have to take that risk. (Mon, 17 May 2010 18:48:40 -0700)
Health-insurance tax break announced for small businesses
The Obama administration unveiled a tax cut Monday for small companies that provide health insurance, but business groups gave it a mixed review. (Tue, 18 May 2010 00:17:59 -0700)
N.J. officer convicted on insurance fraud charges
PLAINFIELD A 22-year veteran of the Plainfield Police Department has been convicted on a single count of second-degree insurance fraud, Union County Prosecutor Theodore J. Romankow announced. (Tue, 18 May 2010 04:39:47 -0700)
Condo owners and quake insurance
Deciding whether or not to buy earthquake insurance is a dilemma for California homeowners, but it's doubly difficult for condominium and town home owners. Condo dwellers can buy quake insurance that covers the interior of their unit and certain other... Insurance - California - Business - Earthquake - Home insurance (Tue, 18 May 2010 05:22:02 -0700)
750 new jobs for insurance firm
Admiral Insurance is to create 750 new jobs in Cardiff, Swansea and Newport by the end of June, it says. (Tue, 18 May 2010 05:49:18 -0700)
Consumer advocates divided on property insurance bill
Consumer advocates are divided on a property insurance bill that aims to strengthen the state's property insurance market by making it easier for insurers to raise rates and reduce certain claims costs. (Tue, 18 May 2010 06:40:54 -0700)
2nd UPDATE: West Europe Sovereign Debt Insurance Costs Stable
2nd UPDATE: West Europe Sovereign Debt Insurance Costs Stable (Tue, 18 May 2010 06:50:39 -0700)
Zacks Sell List Highlights: Aspen Insurance Holdings, Holly Corp., NBTY and SurModics
Zacks Sell List Highlights: Aspen Insurance Holdings, Holly Corp., NBTY and SurModics (Tue, 18 May 2010 07:01:55 -0700)
Insurance is wrong place for a small business to skimp
Business insurance is one of those expense items that small business owners often look to trim in an effort to save money. Our advice look elsewhere. (Tue, 18 May 2010 07:35:10 -0700)
Tuesday Sector Laggards: Surety & Title Insurance, Wholesale Electronics Stocks
In trading on Tuesday, surety & title insurance shares were relative laggards, down on the day by about 1. 4%. (Tue, 18 May 2010 12:02:43 -0700)
Loan insurance 'leads complaints'
Controversial payment protection insurance (PPI) has dominated the list of complaints to the financial ombudsman service. (Tue, 18 May 2010 16:18:52 -0700)
eHealthInsurance 2010 College Graduates Survey: No Work, No Health Insurance, No Clue
A new eHealthInsurance (NASDAQ: EHTH) survey shows one-in-five (21%) recent graduates is uninsured, current students and graduates overestimate the cost of buying their own coverage, and less than one-third can confidently define basic health insurance terminology. read more (Wed, 19 May 2010 05:04:50 -0700)
Micro insurance - macro impact?
Microinsurance is the natural follow-on to microcredit if you're serious about building a future of opportunities for the world's poor, according to Dr Andrew Kuper. Dr Kuper operates a micro-insurance fund called LeapFrog Investments. When it comes to business, he talks of 'profit with purpose'. (Wed, 19 May 2010 06:03:58 -0700)
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