Home > Insurance News

Insurance News 10/2010



Collegeville insurance agent faces more charges
Two Montgomery County insurance agents previously accused of stealing insurance premium payments from area school districts are facing new charges for the alleged theft of money from several businesses in New Jersey and Pennsylvania, as well as from a Philadelphia labor organization.

Insurance adjusters, appraisers took kickbacks for inflated mechanic bills, Hialeah cops say
Five Miami-Dade insurance appraisers and adjusters have been charged with racketeering and theft, accused of accepting kickbacks from Hialeah mechanics who inflated auto accident claims for work that was never done, authorities said.

Senator probing ‘mini med’ insurance plans
West Virginia Senator Jay Rockefeller is calling for an investigation into a type of health insurance plan that he says may be leaving customers in the lurch when they get sick. These "mini med" plans are generally very cheap but have a low yearly cap for how much health care they will pay for. If [... ]

Have health insurance questions? Your government has answers. Seriously.
The government on Friday added price information to its new website, www.HealthCare.gov , that allows consumers to shop more readily for health insurance on the Internet.

Legal challenge to gender weighting by insurance firms
INSURANCE FIRMS will be forced to raise premiums or stop insuring certain groups of people altogether if Europe’s highest court upholds a recommendation aimed at preventing insurers from calculating risk based on a person’s gender, an industry group has warned.

Regulations not strict enough to force firms to pay insurance premimums
The Ho Chi Minh City Social Insurance Agency has taken drastic measures to check employers’ payment of social insurance premiums for their employees and claim premium debts while the current regulations are not stiff enough to deter employers from neglecting to pay the premiums.

Collegeville insurance agent faces more charges
Two Montgomery County insurance agents previously accused of stealing insurance premium payments from area school districts are facing new charges for the alleged theft of money from several businesses in New Jersey and Pennsylvania, as well as from a Philadelphia labor organization.

The Hindu Business Line : Unit-linked insurance plans turn costly for investors
Unit-linked insurance plans have become just that bit more difficult to access for retail investors. This follows the recent changes made to the premium structure of policies launched by some insurance companies.

Why requiring insurance makes sense for all
Why require every American to have health insurance? This mandate in the new health care law is a favorite whipping boy of those who derisively refer to "Obamacare." Republican attorneys general and conservative groups are challenging the requirement in court. Republican campaigns bash it in their advertising.

Obama's health insurance plan for people with medical conditions gets lukewarm reception
WASHINGTON - It's a centerpiece of President Barack Obama's health care remake, a lifeline available right now to vulnerable people whose medical problems have made them uninsurable.

Insurance, Race and Poverty Affect Cancer Care, Researchers Report
SUNDAY, Oct. 3 (HealthDay News) -- Patients who don't have private health insurance or are poor or black fare worse than others if they get cancer, three new studies find.

Collegeville insurance agent faces more charges
Two Montgomery County insurance agents previously accused of stealing insurance premium payments from area school districts are facing new charges for the alleged theft of money from several businesses in New Jersey and Pennsylvania, as well as from a Philadelphia labor organization.

Breast cancer diagnostic delay depends more on race than insurance, study finds
Race and ethnicity appeared to affect diagnostic delay more than insurance status for women with breast abnormalities, according to new data.

Insurance changes, price hikes
This year's open enrollment period, when employees choose their health insurance for the following year, will follow a familiar pattern. Higher premiums. More co-payments. Expanded deductibles.

Insurance companies ordered to pay $455.7-million
A group of life insurance policyholders has won a class-action lawsuit against Great-West Life Assurance Co. and London Life Insurance Co., with an Ontario court ruling the insurance companies must pay $455.7-million for improperly withdrawing funds

Global insurance post-crisis
The Monte Carlo Rendezvous and the Baden Baden meetings herald the major reinsurance renewal season and, with them, a potpourri of predictions and admonitions ranging from broker soap-box sermons to subtler and more learned perspectives from leading reinsurers.

Crime leading to higher insurance
Dawn Franklyn, 30, said her car insurance costs jumped by $400 when she moved from Leominster to Fitchburg last October. "It definitely went up," Franklyn, of 87 Summer St., said. "I'm pretty close to downtown, and I lock my car at night as opposed to Leominster where I'd leave it open." Crime in both Fitchburg and Leominster has resulted in an increase in insurance costs for home and car owners ...

Universal Insurance Services Adds Brokerage Development Expertise
Universal Insurance Services of Florida, Inc. , a wholly-owned subsidiary of National Financial Partners Corp. , a leading provider of benefits, insurance and wealth management services, today announced that Stacy Cooley and John Balis have joined Universal Insurance Services as Vice Presidents of Brokerage Development.

Life insurance policyholders win $450 M class-action lawsuit payout
A group of disgruntled life insurance policyholders has won a class-action lawsuit against Great-West Life Assurance Co. and London Life Insurance Co., with an Ontario court ruling Friday the companies must pay $455.7 million in one of the largest contested class-action payouts to date in Canada.

Affordable Family Health Insurance in Ohio
Columbus - Many leading health insurance companies offer affordable family insurance in Ohio. As each family’s needs are different, you need to compare several options before you decide to buy a medical insurance policy to cover your family.

High-risk insurance plan lags
Program covering pre-existing conditions endures growing pains.

Insurance Fraud Cases On Rise
LITTLE ROCK - The recent arrests of nine people in an alleged counterfeit insurance card ring is the latest wave in a rising tide of insurance fraud.

Meng calls in Insurance Dept. to help Flushing's storm claims
state Insurance Department was deployed in Queens last week as one more measure to help residents navigate the aftermath of the tornado that swept through Queens Sept. 16.In the days following the storm, which caused millions of dollars worth of damage to Queens businesses and homes, many residents called...

Health Insurance More Sacred Than Social Security
Despite passage of health-care reform we’re less - not more- secure that we will continue to have work-based health insurance. Here's why. 

Consumer Reports Insights: How to pick an insurance plan
The health-care overhaul law will trigger a seismic shift in health insurance. Early rumblings can be heard this fall as many people with employer-based insurance enter the open-enrollment period, the time when they can easily change plans.

Insurance companies shouldn't drop child-only health care policies
Some insurance companies, including Regence BlueShield in Washington, announced they would drop child-only health-care coverage. Guest columnist Barry Lawson argues that industry's reasons don't hold up and they should reconsider.

Phone insurance doesn't pay off for most users
The cost of a policy can exceed the price of a replacement, particularly when a two-year commitment is mandated. Also, a device's warranty may make additional coverage unnecessary. If you've bought a cellphone recently, your head is probably still swimming.

Insurance, Race and Poverty Affect Cancer Care, Researchers Report
Title: Insurance, Race and Poverty Affect Cancer Care, Researchers Report Category: Health News Created: 10/3/2010 8:10:00 AM Last Editorial Review: 10/4/2010

Health Care Law’s Uneven Path to Better Insurance
Soon Americans won’t have to pick between bad insurance or none. Until then, expect marketplace disruptions.

PhillyInc: Health-insurance overhaul has insurers dealing
   Passage of the federal overhaul of health insurance earlier this year has some insurers in a deal-making mood.    Not with you or me or our employers, but with smaller, often technology-

Home Insurance Customer Satisfaction Declines But 'Bundlers' Happy
Overall customer satisfaction with homeowners insurance companies has declined to the lowest level in five years, primarily due to decreases in satisfaction with policy offerings and customer ...

Insurance can spur climate change investment-S&P
Source: Reuters * Big gap between needs and current funding * Investors want good returns even on green investments * Catastrophe bonds transfer risk to capital markets LONDON, Oct 5 (Reuters) - Climate ...

McDonald's health insurance: Not lovin' it
Last week McDonald's insisted that it wasn't planning to drop the bare-bones health insurance that it offers its hourly employees. But maybe it should -- this is some pretty terrible insurance coverage.

Calif. lawmakers differ over insurance post role
The California insurance commissioners' race might not feature boldface names, but the job is influential and the winner will be tasked with navigating the changes brought by federal health care reform on the state level.

When insurance could make all the difference
Life insurance is relatively cheap for most people but can make a huge impact on the lives of loved ones we leave behind. And, unlike almost all other types of insurance, premiums on life cover are falling as life expectancy increases at a rapid rate. For instance, a 35-year-old male non-smoker can get £100,000 worth of cover on a 20 year level term policy starting at around £10 per month. Yet ...

Traders Insurance renews support for badminton
Traders Insurance donated $2,000 for the 4th Annual Traders Insurance Badminton Team Tournament, renewing the company's commitment for the promotion of the sport in the CNMI.

Would The Sale of Health Insurance Across State Lines Really Benefit Americans?
At the heart of the GOP plan to 'repeal and replace' health care reform legislation is the concept o

4 Ways to Ditch Your Insurance -- Safely
What it will cost to skip pet, phone and travel policies -- and stay protected.

Shopping Guide for Homeowners Insurance
The New York State Insurance Department just released the 2010 edition of the Consumer Shopping Guide for Homeowners and Tenants Insurance, which allows homeowners and renters to choose the right insurance coverage for their needs.

Traders Insurance renews support for badminton
Traders Insurance donated $2,000 for the 4th Annual Traders Insurance Badminton Team Tournament, renewing the company's commitment for the promotion of the sport in the CNMI.

Consumer Group Criticizes Calif. Insurance Commissioner Candidate Villines
A consumer group is criticizing Calif. insurance commissioner candidate Mike Villines for supposedly taking $ 66,950 from insurance sources despite a pledge not to take money from the ...

Nexus Insurance Services Extends Services to New York Medical Facilities
Orange County - Nexus Insurance Services is extending medical malpractice insurance offerings to other members of the medical community in the state of New York. Originally, the company focused on providing services to doctors and physicians in the state, but with a new health care plan in the United States, there will be a higher demand for malpractice insurance because of the increase in ...

Canterbury earthquake could mean insurance cost rises
Insurance bills are expected to rise following massive claims from the Canterbury earthquake, expected to total $4 billion

Insurance alliances slow to start in N.H.
Promoted as a way of bringing health insurance costs under control, Senate Bill 408 - passed earlier this year by the New Hampshire Legislature - allows small businesses to form health insurance purchasing alliances to drive down premiums.

Shopping Guide for Homeowners Insurance
The New York State Insurance Department just released the 2010 edition of the Consumer Shopping Guide for Homeowners and Tenants Insurance, which allows homeowners and renters to choose the right insurance coverage for their needs.

Insurance companies exiting Medicare disrupt thousands of Oregon seniors
Insurance companies are dropping seniors as a result of a federal law passed in 2008, which requires so-called private fee-for-service plans to meet the same requirements as HMOs and PPOs serving Medicare enrollees.

Judge Affirms Health Insurance Mandate In Federal Overhaul
In the first ruling on the constitutionality of the law overhauling health care, a federal judge in Detroit rejected a challenge by the Thomas More Law Center and four people it represented.

Subsidized Health Insurance for Even Middle-Class Children
Government health insurance for children is no longer available only for the poorest households. Now middle-class families can benefit as well.

The 'dollar menu' version of health insurance?
Slow enrollment for the new high-risk health plans in some states, though not in Pennsylvania, led the health-care news this week. But David Leonhardt's piece on the controversy over McDonalds' "mini-med" plans tells a more important story about the effects of the new law.

Life Insurance Ownership is Tax Issue
Two life insurance policies, one owner. Does such an approach make financial sense?