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Insurance News 12/2010



Pinney Insurance Partners with DentalForEveryone.com on Life, Dental Insurance
Customers have access to best-in-class dental insurance policies and life insurance coverage from industry leaders. (PRWeb December 01, 2010) Read the full story at http://www.prweb.com/releases/de

Long-term care insurance cost leaps
Long-term care insurance is an important consideration of any thorough financial plan. It’s also becoming a significantly more expensive consideration with less choice available.

Citizens Insurance sheds more policies
Private companies expand in Louisiana market

Sector movers: Insurance gets Pru boost
The life insurance sector is one of today's strong performers, helped by a bullish update from Prudential.

American Visitor Insurance Introduces Comparison Tool for Travelers to the US
Americanvisitorsinsurance.com, provider of a wide range of insurance plans to visitors, students, and new immigrants, announces an updated visitor insurance comparison tool on its website, which further simplifies the comparison of various plans and prices. (PRWeb December 01, 2010) Read the full story at http://www.prweb.com/releases/20

United Fire & Casualty Buying Mercer Insurance for $191M
Mercer Insurance will be acquired by United Fire & Casualty for $28.25 a share.

Life Insurance Industry Is Spending Millions Lobbying For The Estate Tax: AFBF's Latest Issue Brief
"The estate tax is a cash cow for the life insurance industry - and the industry's lobbyists guard i

Insurance premiums among contentious issues in fire department cuts
An executive with an insurance advisory organization says his agency can't speculate on how changes to Scranton's fire coverage would affect local property insurance premiums."Insurers alone are responsible for determining individual premiums,"

American Visitor Insurance Introduces Comparison Tool for Travelers to the US
Americanvisitorsinsurance.com, provider of a wide range of insurance plans to visitors, students, and new immigrants, announces an updated visitor insurance comparison tool on its website, which further simplifies the comparison of various plans and prices. Marlton, NJ (PRWEB) December 1, 2010 Americanvisitorinsurance.com, a leading expert in visitor health insurance , has updated its online ...

Elephant Auto Insurance Helps People Looking for Affordable Coverage
Elephant Insurance Services is a direct-to-consumer (web and phone) auto insurance company. The company encourages a climate of individual contribution, long-term commitment and profitable growth and believes people who like what they do, do it better. Located in Richmond, VA, Elephant Insurance Services, LLC and Elephant Insurance Company are wholly owned subsidiaries of Admiral Group, plc ...

Insurance Companies to Notify Lapsing Policyholders About Life Settlements
Boomers and seniors will soon have increased access to a novel way to help fund retirement. In a move that will have a sweeping effect on the life insurance industry, a respected national group of insurance legislators has recommended that insurance companies must now notify life insurance policyholders of their financial options if they choose to let a policy lapse.

Social Security cuts? Consider longevity insurance.
Social Security cuts, changes could mean seniors need additional income, like longevity insurance, to ensure they don't outlive their money.

Patients pay based on value with new insurance
A new health care model completely covers many medications - but patients have to pay more out of pocket if they want certain procedures that their employers determine are "overused," like an MRI.

Employer Insurance Costs Rising for Workers
THURSDAY, Dec. 2 (HealthDay News) -- Although premiums for employer health insurance have risen 41 percent since 2003, new research says that employees are getting less bang for their buck.

Senators push to delay flood insurance requirement
EAST ST. LOUIS, Ill. -- Illinois Sen. Dick Durbin and New York Sen. Charles Schumer are pushing a measure that would stave off property owners having to buy mandatory and perhaps expensive flood insurance in areas newly designated by the federal government as being at high risk of inundation.

Inconsistencies mar states' insurance rate reviews
The federal healthcare reform law empowered U.S. states to review and fight spikes in insurance rates but state governments inconsistently enforce the law, according to a study released on Thursday.

Alternative Insurance Plans to Pay for Long-Term Care
Long-term care is expensive, health-insurance Robert Quinlan gives three alternative insurance plans to help you pay for it. 

Californians' costs for employer-based health insurance soar
Rates for family coverage have soared 40% over the last six years, a study finds, though other states have it worse when comparing average costs. Working Californians have seen the cost of their employer-based health insurance shoot up about 40% over the last six years, but they may be surprised to find that workers in many other states fared even worse.

Health Insurance Brokers Fight For Their Future
The new health law may threaten the future of hundreds of thousands of health insurance brokers. But many brokers are convinced their services are worth the fees lawmakers have blamed for driving up health costs.

Health Insurance Brokers Fight For Their Future
The new health law may threaten the future of hundreds of thousands of health insurance brokers. But many brokers are convinced their services are worth the fees lawmakers have blamed for driving up health costs.

Need insurance for your investment portfolio?
In some situations, it's a price worth paying

Households with life insurance hits lowest level in 50 years
The percentage of U.S. households with life insurance coverage is at its lowest in 50 years, leaving millions of families without a safety net, industry experts say.

Deficit cutters take aim at the tax break for health insurance
When your employer provides health insurance for you and your dependents, it usually pays most of the cost. Under the tax laws, this amount is excluded from your taxable income, even though it is part of your total compensation. But now a growing chorus is calling for Congress to repeal the tax break or at least to scale it back.

Health insurance premiums have risen steadily, but how much?
Health-insurance premiums of the employer-based kind have skyrocketed in the last few years -- more than 40%, in fact, according to a new report. And when it comes to where one's salary goes, those increases in health insurance premiums add up.

Insurance Department Rejects Anthem's Rate Request For 2011
Connecticut insurance regulators denied a 20 percent rate hike for the state's largest health insurer in a decision released Friday on the Insurance Department's website. The rates requested by Anthem Blue Cross and Blue Shield in Connecticut were deemed "excessive" by Connecticut Insurance Department hearing officer Mark Franklin. In the 22-page decision, Franklin recommends that Acting ...

Fewer Americans buy life insurance
The percentage of U.S. households with life insurance coverage is at its lowest in 50 years, leaving millions of families without a safety net, industry experts say.

New auto insurance policies will give low-mileage drivers a break
'Pay-as-you-drive' coverage, to be offered by two companies in California beginning in February, bases rates on miles driven. California motorists who spend little time on the road could pay significantly lower insurance premiums with new "pay-as-you-drive" auto policies starting in February.

Insurance costs bedevil Brookline
BROOKLINE – The way Brookline Selectman Tad Putney sees it, the cost of health care insurance for town employees must be weighed against the financial interests, and challenges, of taxpayers. “We’re constantly trying to balance the seesaw,” Putney said. Across the region, state and nation, communities are grappling with skyrocketing health insurance costs and dwindling tax dollars, the result of ...

Fewer people buy life insurance
The percentage of U.S. households with life insurance coverage is at its lowest in 50 years, leaving millions of families without a safety net, industry experts say.

Insurance Blues: Anthem rate hike rejected
The state Insurance Department has flatly rejected Anthem Blue Cross & Blue Shield 's request for a 19.9 percent rate hike on individual policies.

Consumer 10.0: "Forced placement" insurance can send rates soaring
Nobody questions the right of a bank that holds a mortgage or auto loan to require a borrower to buy homeowners' or auto insurance. After all, your property is the bank's security. Selling it is what will repay the loan if you default, and a burned-down house or smashed-up car isn't worth much.

POISON PILL: WikiLeaks to Release 'Insurance' File If Shut Down
WikiLeaks' founder Julian Assange warns that anyone who tries to stop his website risks triggering the release of an encrypted cache of uncensored documents already downloaded by tens of thousands of his website's supporters. U.S. Works to Up Security Against Hackers Swiss Supporters: WikiLeaks Server Down Cable: China Leaders Behind Google Hacking Will WikiLeaks Get Shut Down? Full Coverage ...

Consumer 10.0: "Forced placement" insurance can send rates soaring
Nobody questions the right of a bank that holds a mortgage or auto loan to require a borrower to buy homeowners' or auto insurance. After all, your property is the bank's security. Selling it is what will repay the loan if you default, and a burned-down house or smashed-up car isn't worth much.

Insurance cos seen meeting fire claims comfortably
Industry source: This is what we are here for.

Franklin Co. employees want help with new insurance
PASCO — Franklin County public works employees are asking the county to chip in to help pay t

NEWS: Car insurance hub goes online
For a hassle-free way of protecting your automotive investment

Health Insurance Tips: eHealthInsurance Explains How to Make the Most of Your Coverage Before Year-End
MOUNTAIN VIEW, CA--(Marketwire - December 6, 2010) - Today eHealthInsurance ( NASDAQ : EHTH ), the leading online source of health insurance for individuals, families, and small businesses, released five tips designed to help consumers make the most of their health insurance dollars before the end of 2010.

Fairfax to acquire Malaysian Pacific Insurance Berhad
Kingsway Financial Services, a provider of automobile insurance services, has reported a net income ... Chubb Group of Insurance Companies has introduced a new endorsement that provides venture capital an ...

Ex-New York Insurance Superintendent Dinallo Joins Debevoise & Plimpton
Eric R. Dinallo , the former New York Superintendent of Insurance who oversaw the industry during the peak of the financial crisis, joined Debevoise & Plimpton LLP as a partner in the law firm’s Manhattan office.

Employers Paying More, Workers Getting Less for Health Insurance
The price businesses pay for their workers' health insurance has ballooned more than 41 percent over the past six years, according to a new study by the Commonwealth Fund. At the same time, many workers are getting less for the money -- per-person deductibles have risen 71 percent over those same years, according to the report. In 2009, the average family health plan in the U.S. cost $13,027. In ...

California auto insurance goes green
California motorists who spend little time on the road could pay significantly lower insurance premiums with new "pay-as-you-drive" auto policies starting in February. To be offered first by California insurance giants State Farm Mutual and the Automobile Club of Southern...

Insurance Industry Outlook Improving, Slightly
The insurance industry is recovering from the economic crisis, but profits are nowhere near where they were prior to the crisis, and it will take California even longer to rebound, according to ...

County avoids insurance hikes
Although the cost of health insurance appears to have been going up for most public and private sector employers in recent years, one exception is Leelanau County government. County health insurance payments made by the county and its employees have re read more

Texas' insurance commissioner forbids insurers' provisions that allowed them to interpret policies
AUSTIN - Health, life and disability insurers will no longer have blanket authority to decide what their policies do and don't cover in Texas, under rules approved Monday by Insurance Commissioner Mike Geeslin.

Insurance Sector To Grow In 2011, But Profit Under Pressure
Insurance Sector To Grow In 2011, But Profit Under Pressure

Fireman’s Fund Expands “Green” Homeowners Insurance Credit to Include Earth Advantage in Oregon
Fireman’s Fund Insurance Company, the nation’s first provider of green insurance, has expanded the credit for green homeowners in Oregon to include certification by Earth Advantage.

Donegal Group Inc. Acquires Michigan Insurance Co.
Donegal Group Inc. announced that it had completed the acquisition of Michigan Insurance Co., which was formerly a majority-owned subsidiary of West Bend Mutual Insurance Co. The final purchase ...

Insurance Giant ING Chooses Varicent Sales Performance Management Tool to Help Facilitate Future Growth
Varicent Software Incorporated, the leading innovator in incentive compensation and sales performance management solutions, announced today that ING Insurance Asia, which comprises ING’s insurance and investment management operations in the region, has selected Varicent to manage its complex sales incentive compensation plans and sales performance management activities.

Insurance M&A market headed for tough 2011 -bankers
* Large strategic insurance M&A in 2011 likely one-off * Growth, returns, cost savings seen as M&A drivers * Hard work to go into deals in 2011; spotty market NEW YORK, Dec 7 (Reuters) - Investment bankers ...

Insurance brokers seek way out of rules squeeze
Health-insurance brokers, the conduits between medical insurers and the customers who seek coverage, are feeling a squeeze in the marketplace.