Insurance News 05/2010 (Page 2)
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.
(May 6, 2010)
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.
(May 6, 2010)
Car insurance when someone drives your car
If someone else drives your car and crashes, your liability varies with your car insurance policy.
(May 7, 2010)
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.
(May 7, 2010)
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.
(May 7, 2010)
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.
(May 7, 2010)
BP Spill Biggest Energy Insurance Loss in 20 Years (Correct)
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.
(May 7, 2010)
BP Spill Biggest Energy Insurance Loss in 20 Years (Update1)
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.
(May 7, 2010)
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 ...
(May 7, 2010)
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.
(May 7, 2010)
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.
(May 7, 2010)
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
(May 7, 2010)
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.
(May 7, 2010)
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
(May 7, 2010)
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.
(May 7, 2010)
A cut in crop insurance subsidies?
The insurance industry cries foul.
(May 8, 2010)
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 ...
(May 8, 2010)
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.
(May 8, 2010)
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.
(May 8, 2010)
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.
(May 8, 2010)
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.
(May 9, 2010)
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.
(May 9, 2010)
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.
(May 9, 2010)
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.
(May 9, 2010)
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.
(May 9, 2010)
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).
(May 9, 2010)
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.
(May 9, 2010)
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.
(May 9, 2010)
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.
(May 10, 2010)
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...
(May 10, 2010)
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
(May 10, 2010)
Euro-zone Default Insurance Costs Tumble
Euro-zone Default Insurance Costs Tumble
(May 10, 2010)
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.
(May 10, 2010)
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..
(May 10, 2010)
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.
(May 10, 2010)
RBS May Cut 2,600 Jobs in Insurance, Consumer Bank (Update1)
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.
(May 10, 2010)
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 ...
(May 10, 2010)
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.
(May 10, 2010)
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.
(May 11, 2010)
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.
(May 11, 2010)
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.
(May 11, 2010)
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.
(May 11, 2010)
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...
(May 11, 2010)
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.
(May 11, 2010)
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.
(May 11, 2010)
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.
(May 11, 2010)
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 ...
(May 11, 2010)
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
(May 12, 2010)
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.
(May 13, 2010)
Summer insurance: what you'll need
For those times when vacation takes a decidedly painful turn, be prepared with the right insurance.
(May 13, 2010)
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