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Insurance News 08/2010



Video: Insurance management experiences growth and job creation
The number of managed insurance companies in Malta, annual gross premium written by them and the number of jobs created in this sector have increased substantially over the last couple of years. These results were presented by the Malta Insurance Management Association in their 2010 Market Survey Report. Minister of Finance, the Economy and Investment Tonio [...]

Insurance tactics take advantage of survivors
The package arrived at Cindy Lohman's home just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-by-12-inch envelope from Prudential Financial Inc., which handles life... Insurance - Prudential Financial - Afghanistan - Business - Financial Services

Insurance Co Alleges Jeffrey Locker Lied About Income, Refuses To Pay Claim
A Long Island motivational speaker who was found dead a year ago is being accused of arranging his own death so his family could profit from a life insurance policy. Jeffrey Locker was found bound and stabbed to death in July 2009 in East Harlem. His life insurance provider, Principal Life Insurance, filed a lawsuit Friday [...]

Health Insurance for 30 Million More Women
Health insurance will be available to 30 million more women as a result of the Affordable Care Act within Obama's healthcare reform, according to a U.S. non-profit group. Karen Davis, president of The Commonwealth Fund in New York, says the law subsidizes health insurance for as many as 15 million currently uninsured women and strengthens existing coverage for 14.5 million women who are ...

Insurance assets under management in Malta reach over 1 billion - survey
Insurance assets under management in Malta have increased from 555,305,454 in 2008 to 1,099,657,011, according to the Malta Insurance Management Association's 2010 Managed Insurance Company Survey.

Health insurance: a push to restrict choice in 2014?
Health insurance reform will give consumers one-stop shopping to compare and sign up for insurance plans. But in states like New Mexico, not all plans may be included.

Pet insurance takes a bite out of bills for some; others dogged by denials
A look at how pet insurance works and what it covers. Plus, tips for buying pet insurance.

Insurance agency buys Flagler competitor
Hayward Brown Flagler Inc. has bought Palm Coast Insurance Services, company officials announced. No financial details were released for the deal, which is effective today.

Nigeria: Building Insurance - NAICOM Urges Other States to Emulate Lagos
The National Insurance Commission (NAICOM) has called all state governments in the country to emulate the Lagos State government by enacting a law that will make insurance of building compulsory in their area of jurisdiction.

Insurance Company Coalition Pledges to Help Gulf Coast Wildlife Affected by BP Oil Spill
HomeInsurance.com) -- With the help of Safeco, Foremost and Progressive insurance companies, HomeInsurance.com has pledged to donate to the National Wildlife Federation's Gulf Oil Spill fund, $5 for every new customer that purchases a home insurance policy through them in August 2010.

Insurance mess keeps man hospitalized
His insurance wont pay for home health care.

Saudi insurance firm agrees to pay pirates 20 mln USD for ship release
A Saudi insurance company has agreed to pay Somali pirates a ransom of 20 million U.S. dollars for the release of a hijacked ship and its 14-member crew, local Arab News newspaper reported Monday.

Insurance Networking News Announces Official Call for Entries for the 2010 INNovators Awards
CHICAGO, IL--(Marketwire - 08/02/10) - Insurance Networking News (INN) is pleased to announce the official call for entries for its 4th annual INNovators Award, an esteemed and honored designation intended to advance the spread of business technology acumen in the insurance industry. The program has been enhanced this year to include additional awards in three specific categories that recognize ...

Insurance claim gives police a tip on hit-and-run
An insurance claim proved to be the linchpin in leading Irving police to a man accused in the hit-and-run death of a 23-year-old Marine.

Insurance Claim Links Texas Driver To Hit-And-Run Death Of Marine
An insurance claim led police to the driver involved in an automobile-pedestrian collision that resulted in the death of a Marine.

Insurance store robbed at knife point
An insurance store was robbed at knife point Monday just before noon.

Insurance Regulators `Ramping Up' Retained-Asset Disclosure, Cline Says
Insurance watchdogs must make sure life insurance beneficiaries are better aware of their options for collecting proceeds from so-called retained-asset accounts, the leader of a group of regulators said today.

Insurance Outlook: Is the Worst Behind Us?
The insurance industry continues to be challenged by regulatory uncertainties and massive health care restructuring.

HCC Insurance says net income falls in 2Q
Specialty insurance provider HCC Insurance Holdings Inc. said Tuesday that its net income slipped by 9 percent in the second quarter as its income from fees and commissions fell.

Insurance companies profiting from fallen soldiers is alleged
The Missouri and Kansas insurance departments said Tuesday that they were checking for complaints over a practice in which life insurance companies were reportedly profiting from the deaths of U.S. soldiers.

Insurance Auto Auctions Launches Mobile Buyer Technology
WESTCHESTER, Ill.--Insurance Auto Auctions, Inc., the leading hybrid model salvage auto auction company and a wholly owned subsidiary of KAR Auction Services, Inc. , today confirmed the compatibility of its I-bid LiveĀ® online bidding platform and its buyer facing technology, the IAA Auction Center, with Apple-based mobile technology.

Mercury Insurance Open Results
CARLSBAD, California (AP) -- Results Tuesday at the Mercury Insurance Open, a $700,000 WTA Tour event on outdoor hard-courts at La Costa Resort and Spa (seedings in parentheses): Singles First Round Shahar Peer (7), Israel, def. Ana Ivanovic , Serbia, 7-6 (3), 6-3. Zheng Jie, China, def. Shenay Perry , United States, 6-3, 6-2. Yaroslava Shvedova , Kazakhstan, def. Nadia Petrova , Russia, 5-7, 6 ...

Insurance pool helped save millions
Two North Shore towns saved a bundle on steadily climbing health insurance costs by transferring their workers' coverage to a larger state-run pool, according to a report released yesterday. The study found that Swampscott had realized $1 million in health insurance savings and Wenham had saved $100,000 in the first year of switching from town-administered health plans to the state's Group ...

Insurance to cover organ transplant
Health insurance companies will cover the cost of organ transplant under the enhanced plan, but not organ acquisition, Khaleej Times has learnt.

RSA Insurance Group Profit Beats Estimates on U.K. Cost Cuts, India Growth
RSA Insurance Group Plc , the U.K.s biggest non-life insurer, reported first-half profit that beat analysts estimates as it completed cost cuts and expanded further in India.

Life insurance sales up 16% on-year in Q2
SINGAPORE : Singapore's life insurance sector saw a 16 per cent on-year rise in new business premiums in the second quarter.

Insurance company Swiss Re reports a second quarter net profit of $812 million
GENEVA - Swiss Re Insurance Co. has reported a net profit of US$812 million for the second quarter despite payouts for two large-scale

Insurance commissioner fights new fee on health-care claims
The state insurance commissioner's lawyer argued Wednesday before an Oklahoma Supreme Court referee that a bill passed in the waning days of the last legislative session is an unconstitutional tax.

Provider Insurance Group Announces Winner of $1,000 College Scholarship -- Wellesley Teen Gives Insurance Customers ...
Provider Insurance Group, the award-winning life, health and business insurance provider, announced Peter Cramer as the grand prize winner of its 2nd annual Can You Make Insurance Funny? video contest. Cramer, a life-long Wellesley resident and 2010 graduate of Wellesley High, was awarded the $1,000 college scholarship at the annual Wellesley High School Film Festival on May 13.

Insurance giants issue costs alert
Insurance giants Aviva and RSA have revealed the soaring cost of cover and warned consumers of further rises to come.

Life Insurance Corp: To Invest INR2 Trillion In Equity, Bonds This Fiscal Year
Life Insurance Corp: To Invest INR2 Trillion In Equity, Bonds This Fiscal Year

Insurance broker doubles workers as demand surges
A Ballymena insurance broker has doubled its workforce following a demand for its services. Related Stories Job agency lands trade ban as second is probed PwC: crisis looms as trade levels in decline Administrators purge Quinn family from boards ahead of sale Queen's academic among top three enterprise educators in the world Belfast hotel rooms facing greatest UK price drop

Life Insurance Corp. of India Says Assets Rise 32 Percent to $250 Billion
Life Insurance Corp. of India, the countrys largest money manager, said its assets under management rose 32 percent in the fiscal year ended March 31.

Insurance Industry Questions Rendells Car Camera Idea
The head of the Pennsylvania Insurance Federation says Governor Rendells idea to install cameras to nab people who are driving without insurance is impractical. KYWs Tony Romeo reports that it might not be a surprise to hear that the ACLU has concerns about the idea. But how about Sam Marshall, president of the Insurance Federation [...]

Former insurance agent pleads guilty to fraud
An Albuquerque insurance salesman accused of playing poker with thousands of dollars of other peoples money is now facing up to 12 years behind bars.

Insurance cost up for county
BENTON -- The cost for Scott County's liability insurance will be higher this year, due to a lawsuit against the county. During Thursday's meeting, commissioners opened the bids received for its property and general liability insurance.

Insurance agency moves to Avon
AVON The Deken Benjamin Insurance Agency recently moved its office to Avon. Owner Michelle Benjamin is hoping the new location will offer more convenience to her Hendricks County clients.

Insurance giant Allianz increases operating profits to 2.2 billion
RETURNING consumer demand for life insurance and other investment products helped Allianz, Europes largest insurer, increase sales and operating profits in spite of the shadow cast during the first half of the year by the euro zone sovereign debt crisis.

Insurance Program Needed For Fishery: Layton
The federal Leader of the New Democrats says there needs to be an insurance program to help offset bad fishing seasons. Jack Layton says such programs exist for banking failures and agriculture, and that one for fisheries would be no different. He says it would help keep the economy moving.

Independent Insurance Adjusting Firm CatManDo Completes Important Disaster Recovery Simulation Assures Data Integrity ...
CatManDo Inc a Florida Independent Insurance Adjuster and Third Party Administrator successfully completed a full systems recovery based on a simulated catastrophic loss of all data and voice resources to its Tampa headquarters office. The test demonstrated the ability for CatManDo to bring all servers, workstations, and voice and data access back online in less than 48 hours using generator ...

Illinois Insurance Regulations
Illinois insurance regulators want more oversight

Insurance agency getting expanded space
Commercial construction ventures continue in Kalispell, including a new office building for Western States Insurance Agency under construction in the Village Plaza Business Park near the intersection

Insurance Firms Weathering Fire Storm
Despite the thousands of homes destroyed by fires raging throughout central Russia, insurance firms are weathering the disaster as few homes are insured and even fewer claims are made for damaged property.

Smashed car windows lead dubious insurance claims
Questionable insurance claims rose 14 percent in the first half of 2010, led by a fivefold increase for car windows that owners may have smashed, the National Insurance Crime Bureau says.

Insurance agent always had career insurance
Insurance against a possible wrong career move was something that Burt Tyler never worried about or needed.

Insurance agent jailed in check forgery case
An insurance agent was sentenced to a month in jail for defrauding a friend by forging the woman

Insurance broker in Shelby Township ordered to stop unlicensed practice
The Michigan Office of Financial and Insurance Regulation today ordered Steven Todd Kuczaj of Shelby Township to stop selling insurance without a license.

Pennsylvania insurance chief Joel Ario will join the Obama administration
In December, Pennsylvania Insurance Commissioner Joel Ario went to a Christmas party at the White House. In March, he sat next to President Obama at a meeting in the White House's Roosevelt Room.

Insurance rates expected to climb
Insurance rates expected to climb

Provider Insurance Group Has A Seat at the Top of the Table - Account Executive, Chris Bradley Qualifies for the Top ...
Provider Insurance Group is proud to announce account executive; Chris Bradley recently qualified for the Top of the Table. To qualify for a seat at the table is an honor within itself. Only 1% which is 30,000 of the worldwide insurance agents belong to the Million Dollar Round Table and of those 30,000 members less than 1% qualify for the Top of the Table. The Million Dollar Round Tables Top ...